Haverford Financial Services Inc. Purchases New Stake in Broadcom Inc. $AVGO

Key Points

• Haverford Financial Services acquired 19,208 Broadcom shares in the second quarter, worth approximately $7.26 million and representing 2.1% of its portfolio. Institutional investors collectively own 76.43% of Broadcom.
• Broadcom exceeded quarterly expectations with $3.32 in EPS and $29.59 billion in revenue, up 85.5% year over year. However, its next-quarter revenue outlook was slightly below Wall Street estimates, while supply constraints and customer concentration remain risks to its AI growth plans.
• Analysts maintain a favorable view, with a consensus “Moderate Buy” rating and an average price target of $501.77. Broadcom also declared a quarterly dividend of $0.65 per share, while insiders sold more than 61,000 shares worth approximately $24 million over the past 90 days.

Haverford Financial Services Inc. purchased a new stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 19,208 shares of the semiconductor manufacturer's stock, valued at approximately $7,256,000. Broadcom comprises about 2.1% of Haverford Financial Services Inc.'s investment portfolio, making the stock its 16th biggest position.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. ROSS JOHNSON & Associates LLC grew its position in shares of Broadcom by 1,320.0% in the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer's stock valued at $25,000 after purchasing an additional 66 shares during the last quarter. Networth Advisors LLC boosted its stake in Broadcom by 546.2% in the 1st quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer's stock valued at $26,000 after purchasing an additional 71 shares during the period. SWAN Capital LLC boosted its stake in Broadcom by 261.9% in the 4th quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer's stock valued at $26,000 after purchasing an additional 55 shares during the period. Harborfront Financial Group LLC acquired a new position in Broadcom in the 2nd quarter valued at $38,000. Finally, Cherry Tree Wealth Management LLC grew its holdings in Broadcom by 44.9% in the 4th quarter. Cherry Tree Wealth Management LLC now owns 129 shares of the semiconductor manufacturer's stock valued at $45,000 after buying an additional 40 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Gayla J. Delly sold 1,890 shares of the stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $385.38, for a total value of $728,368.20. Following the completion of the transaction, the director owned 31,326 shares of the company's stock, valued at approximately $12,072,413.88. This represents a 5.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Justine Page sold 1,602 shares of the firm's stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $373.86, for a total transaction of $598,923.72. Following the completion of the sale, the director owned 17,426 shares in the company, valued at approximately $6,514,884.36. The trade was a 8.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 61,644 shares of company stock valued at $24,016,214. 1.90% of the stock is owned by corporate insiders.

Broadcom Stock Performance

Shares of NASDAQ:AVGO opened at $357.16 on Friday. The company's 50 day simple moving average is $383.71 and its 200 day simple moving average is $377.36. The stock has a market capitalization of $1.70 trillion, a price-to-earnings ratio of 45.61, a price-to-earnings-growth ratio of 0.70 and a beta of 1.44. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01. Broadcom Inc. has a 1 year low of $289.96 and a 1 year high of $495.00.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share for the quarter, topping the consensus estimate of $3.22 by $0.10. The firm had revenue of $29.59 billion during the quarter, compared to analysts' expectations of $29.24 billion. Broadcom had a return on equity of 50.76% and a net margin of 42.94%.The company's quarterly revenue was up 85.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.69 earnings per share. As a group, research analysts predict that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Monday, September 21st will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Monday, September 21st. Broadcom's dividend payout ratio is currently 43.33%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AVGO. Bank of America lifted their target price on Broadcom from $450.00 to $530.00 and gave the stock a "buy" rating in a report on Thursday, June 4th. JPMorgan Chase & Co. upped their price target on shares of Broadcom from $500.00 to $580.00 and gave the company an "overweight" rating in a research note on Thursday, June 4th. Rosenblatt Securities assumed coverage on shares of Broadcom in a research note on Thursday. They issued a "buy" rating and a $600.00 price objective for the company. Morgan Stanley reissued an "overweight" rating and issued a $505.00 price objective (up from $502.00) on shares of Broadcom in a report on Thursday. Finally, Evercore set a $578.00 target price on shares of Broadcom in a research report on Thursday. Thirty-one equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $501.77.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom reported fiscal third-quarter revenue of $29.6 billion, up 86% year over year, and non-GAAP EPS of $3.32, exceeding estimates of $29.43 billion and $3.22. AI semiconductor revenue surged 221% to $16.7 billion, while free cash flow reached $13.7 billion. Broadcom fiscal third-quarter results
• Positive Sentiment: Management raised its fiscal 2027 AI revenue outlook to $115 billion and projected $230 billion in fiscal 2028, alongside confidence in fiscal 2027 EPS of at least $30. Analysts including Macquarie, Cantor Fitzgerald, BMO and Rosenblatt responded with upgrades or higher price targets, supporting the long-term AI investment case. Broadcom AI growth outlook
• Neutral Sentiment: Broadcom declared a quarterly dividend of $0.65 per share, payable September 30 to shareholders of record September 21. The dividend provides modest income but is unlikely to drive the stock’s near-term performance. Broadcom dividend announcement
• Negative Sentiment: Fiscal fourth-quarter revenue guidance of approximately $34.8 billion was below Wall Street’s roughly $35.0 billion expectation. Investors viewed the outlook as insufficient given AVGO’s premium valuation and elevated AI expectations, overshadowing the earnings beat. Broadcom forecasts quarterly revenue below estimates
• Negative Sentiment: Investors are also weighing supply constraints involving power, land, chips and substrates, along with customer concentration among major hyperscalers such as Alphabet, Anthropic and OpenAI. Competition from custom-chip rivals, including Marvell, adds uncertainty to the ambitious long-term forecast. Broadcom AI supply constraints
• Negative Sentiment: Recent disclosures that Third Point exited its Broadcom position and that company insiders have overwhelmingly sold shares may reinforce profit-taking concerns, although these transactions are not necessarily indicative of deteriorating fundamentals. Dan Loeb exits Broadcom position

Broadcom Company 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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