Hillsdale Investment Management Inc. Raises Stake in Broadcom Inc. $AVGO

Key Points

• Hillsdale Investment Management boosted its Broadcom stake by 15% in the first quarter, bringing holdings to 42,304 shares valued at about $13.1 million.
• Broadcom’s latest quarter topped expectations, with EPS of $2.44 and revenue of $22.19 billion, up 47.9% year over year. Analysts still expect strong full-year earnings and maintain a Moderate Buy consensus.
• The stock is getting mixed signals: investors remain upbeat about Broadcom’s AI and enterprise networking exposure, but the shares are also facing scrutiny over valuation, a semiconductor selloff, and an EU antitrust review tied to VMware licensing changes.

Hillsdale Investment Management Inc. increased its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 15.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 42,304 shares of the semiconductor manufacturer's stock after buying an additional 5,530 shares during the quarter. Hillsdale Investment Management Inc.'s holdings in Broadcom were worth $13,094,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of AVGO. Sovran Advisors LLC boosted its stake in shares of Broadcom by 121.3% in the fourth quarter. Sovran Advisors LLC now owns 30,631 shares of the semiconductor manufacturer's stock worth $10,507,000 after buying an additional 16,789 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its holdings in Broadcom by 406.1% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,994 shares of the semiconductor manufacturer's stock worth $4,151,000 after acquiring an additional 9,624 shares during the period. Aspiriant LLC raised its position in Broadcom by 18.5% during the fourth quarter. Aspiriant LLC now owns 12,016 shares of the semiconductor manufacturer's stock valued at $4,158,000 after acquiring an additional 1,872 shares in the last quarter. World Investment Advisors raised its position in Broadcom by 16.1% during the fourth quarter. World Investment Advisors now owns 177,710 shares of the semiconductor manufacturer's stock valued at $61,505,000 after acquiring an additional 24,703 shares in the last quarter. Finally, Western Financial Corp CA lifted its holdings in Broadcom by 90.5% in the fourth quarter. Western Financial Corp CA now owns 6,481 shares of the semiconductor manufacturer's stock valued at $2,243,000 after acquiring an additional 3,079 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Standard Chartered chose Broadcom to support a long-term modernization of its global banking infrastructure, underscoring Broadcom’s role in secure private-cloud and enterprise networking solutions. Standard Chartered Selects Broadcom to Deliver Secure, Always-On Banking Services at Global Scale
• Positive Sentiment: Wall Street commentary continues to describe Broadcom as a core AI beneficiary, and some analysts have raised price targets even after the stock pullback. As Shares Fall, Analyst Are Boosting Their Broadcom Price Targets
• Neutral Sentiment: Broadcom remains a major talking point in AI-focused market coverage, with some investors viewing it as an indicator for the broader market and semiconductor cycle. Jim Cramer Says Broadcom Will Tell You When the Market Is About to Turn
• Negative Sentiment: Broadcom is facing renewed skepticism around valuation, with one report asking whether the AI story has made the stock too expensive. Has Broadcom Become Too Expensive for Its AI Story?
• Negative Sentiment: The stock is also being hit by a broader selloff in semiconductor names as investors rotate away from AI-capex winners and worry about a slowdown in chip spending. Marvell Drops 8% as AI Capex Slowdown Fears Weigh on Chips; Broadcom, AMD, and Intel Slide
• Negative Sentiment: Broadcom is also dealing with regulatory uncertainty after reports said it faces an EU antitrust review tied to VMware licensing changes. Broadcom (AVGO) Faces EU Antitrust Review Over VMware Licensing Changes

Insider Activity at Broadcom

In other news, Director Harry L. You bought 1,000 shares of Broadcom stock in a transaction on Thursday, June 11th. The stock was acquired at an average price of $373.57 per share, with a total value of $373,570.00. Following the completion of the acquisition, the director directly owned 38,466 shares of the company's stock, valued at $14,369,743.62. The trade was a 2.67% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mark David Brazeal sold 25,000 shares of the stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $401.33, for a total value of $10,033,250.00. Following the transaction, the insider directly owned 194,989 shares of the company's stock, valued at $78,254,935.37. The trade was a 11.36% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 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 Trading Down 1.0%

Shares of AVGO stock opened at $370.83 on Friday. Broadcom Inc. has a 1-year low of $273.00 and a 1-year high of $495.00. The company has a market cap of $1.76 trillion, a price-to-earnings ratio of 61.81, a PEG ratio of 0.66 and a beta of 1.45. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01. The stock has a 50 day simple moving average of $401.29 and a 200-day simple moving average of $365.31.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, topping the consensus estimate of $2.40 by $0.04. The company had revenue of $22.19 billion during the quarter, compared to analyst estimates of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The firm's revenue was up 47.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.58 EPS. On average, equities research analysts expect that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 22nd were 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 was Monday, June 22nd. Broadcom's dividend payout ratio is 43.33%.

Wall Street Analyst Weigh In

AVGO has been the topic of several recent research reports. Erste Group Bank restated a "hold" rating on shares of Broadcom in a research report on Tuesday, July 7th. Morgan Stanley set a $502.00 target price on shares of Broadcom and gave the company an "overweight" rating in a research note on Thursday, June 4th. KeyCorp reissued an "overweight" rating and set a $575.00 price target (up from $500.00) on shares of Broadcom in a report on Thursday, June 4th. Dbs Bank upgraded shares of Broadcom to a "moderate buy" rating in a research report on Thursday, June 18th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $525.00 price objective on shares of Broadcom in a report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price 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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