Hartline Investment Corp Buys 2,240 Shares of Broadcom Inc. $AVGO

Key Points

• Hartline Investment Corp increased its Broadcom stake by 41.6% in the first quarter, buying 2,240 additional shares and bringing its total holdings to 7,619 shares worth about $2.36 million.
• Broadcom continues to benefit from strong AI-related momentum and a major expanded Apple agreement valued at more than $30 billion through 2031, which adds revenue visibility beyond AI chips alone.
• Despite upbeat analyst sentiment and solid recent earnings, some caution remains: Broadcom trades at a rich valuation near a $1.9 trillion market cap, and Erste Group recently downgraded the stock to Hold on valuation concerns.

Hartline Investment Corp boosted its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 41.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,619 shares of the semiconductor manufacturer's stock after purchasing an additional 2,240 shares during the quarter. Hartline Investment Corp's holdings in Broadcom were worth $2,358,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of AVGO. ROSS JOHNSON & Associates LLC raised its position in shares of Broadcom by 1,320.0% during the 4th quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer's stock valued at $25,000 after buying an additional 66 shares in the last quarter. SWAN Capital LLC grew its position in Broadcom by 261.9% in the fourth quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer's stock worth $26,000 after acquiring an additional 55 shares in the last quarter. Networth Advisors LLC grew its position in Broadcom by 546.2% in the first quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer's stock worth $26,000 after acquiring an additional 71 shares in the last quarter. Miller Global Investments LLC bought a new position in Broadcom in the fourth quarter valued at $31,000. Finally, Nvest Wealth Strategies Inc. bought a new position in Broadcom in the fourth quarter valued at $33,000. 76.43% of the stock is currently owned by institutional investors.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s expanded Apple agreement, valued at more than $30 billion through 2031, strengthens visibility for revenue and highlights demand beyond AI chips. Why Broadcom Stock Rose Today
• Positive Sentiment: Analysts remain upbeat on Broadcom’s AI business, with Jefferies reiterating a Buy rating and a $550 price target as AI chip momentum improves. Broadcom’s (AVGO) AI Chip Momentum Keeps Wall Street Bullish
• Positive Sentiment: Broadcom is being viewed as a broader AI infrastructure winner because its networking products help connect large-scale AI systems, expanding the investment thesis beyond GPUs and custom chips. Broadcom stock's latest catalyst targets Nvidia where it looks strongest
• Neutral Sentiment: Some coverage notes Broadcom’s near-$2 trillion market value and strong AI revenue growth, but also suggests much of the good news may already be reflected in the stock. Broadcom Is Less Than 5% From the $2 Trillion Club -- and Apple Just Committed $30 Billion for More Chips
• Negative Sentiment: Erste Group downgraded Broadcom to Hold, citing valuation concerns, which may be limiting upside after the recent rally. Erste Group downgrades Broadcom to Hold citing valuation concerns

Insider Buying and Selling

In related news, Director Justine Page sold 1,602 shares of the firm's stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $373.86, for a total transaction of $598,923.72. Following the transaction, the director directly owned 17,426 shares in the company, valued at $6,514,884.36. This trade represents a 8.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gayla J. Delly sold 1,890 shares of Broadcom stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $385.38, for a total value of $728,368.20. Following the completion of the transaction, the director directly owned 31,326 shares in the company, valued at $12,072,413.88. This trade represents a 5.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 36,644 shares of company stock valued at $13,982,964 in the last 90 days. 1.90% of the stock is owned by insiders.

Broadcom Stock Performance

Broadcom stock opened at $399.97 on Friday. The firm has a fifty day simple moving average of $405.29 and a two-hundred day simple moving average of $364.13. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71. Broadcom Inc. has a twelve month low of $269.58 and a twelve month high of $495.00. The company has a market capitalization of $1.90 trillion, a PE ratio of 66.66, a P/E/G ratio of 0.70 and a beta of 1.45.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.40 by $0.04. The firm had revenue of $22.19 billion for the quarter, compared to analysts' expectations of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The company's revenue for the quarter was up 47.9% compared to the same quarter last year. During the same period last year, the firm earned $1.58 earnings per share. Research analysts expect that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 22nd were issued a dividend of $0.65 per share. The ex-dividend date was Monday, June 22nd. This represents a $2.60 annualized dividend and a yield of 0.7%. Broadcom's dividend payout ratio is currently 43.33%.

Analyst Ratings Changes

AVGO has been the subject of several research analyst reports. Erste Group Bank reaffirmed a "hold" rating on shares of Broadcom in a research note on Tuesday. Jefferies Financial Group set a $550.00 price objective on Broadcom and gave the company a "buy" rating in a research report on Thursday, June 4th. TD Cowen reissued a "buy" rating and set a $500.00 price objective on shares of Broadcom in a report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $515.00 price objective (up from $430.00) on shares of Broadcom in a report on Thursday, June 4th. Finally, Citigroup reaffirmed a "buy" rating on shares of Broadcom in a research note on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Broadcom currently has an average rating of "Moderate Buy" and a consensus price target of $493.24.

Broadcom Profile

Broadcom Inc NASDAQ: AVGO is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company's semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom's portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.

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