Horizon Investment Services LLC acquired a new stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 29,394 shares of the semiconductor manufacturer's stock, valued at approximately $11,104,000. Broadcom comprises about 3.1% of Horizon Investment Services LLC's portfolio, making the stock its 7th largest position.
Other institutional investors and hedge funds have also made changes to their positions in the company. Global Retirement Partners LLC purchased a new stake in shares of Broadcom in the second quarter valued at approximately $56,460,000. 1ST Source Bank purchased a new position in Broadcom during the second quarter worth approximately $10,630,000. Alberta Investment Management Corp purchased a new position in Broadcom during the second quarter worth approximately $28,785,000. Elite Life Management LLC acquired a new position in Broadcom during the second quarter worth $1,040,000. Finally, Fielder Capital Group LLC acquired a new position in Broadcom during the second quarter worth $1,336,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.
More Broadcom News
Here are the key news stories impacting Broadcom this week:
- Positive Sentiment: Rackspace Technology launched a fully managed multitenant cloud platform based on Broadcom’s VMware Cloud Foundation 9.1. The deployment provides early commercial validation for Broadcom’s VMware strategy and targets regulated customers running Kubernetes and AI workloads. Broadcom (AVGO) Debuts VMware Cloud Foundation 9.1 In Managed Multitenant Cloud
- Positive Sentiment: Analysts continue to view Broadcom as a major beneficiary of the shift from AI training toward inference and agentic workloads, supporting the long-term outlook for its custom silicon and networking businesses. Broadcom Vs. Micron: Why They're So Strong as Capital Shifts to Inference and Agentic AI
- Positive Sentiment: Historical analysis argues that the loss or reduction of a major customer’s chip program does not necessarily imply sustained weakness; Broadcom’s revenue grew substantially after a comparable Apple-related concern in 2023. Broadcom Has Seen Its Biggest Customer Drop a Key Chip Before
- Neutral Sentiment: Upcoming NVIDIA earnings and guidance could move Broadcom and other AI stocks, making NVIDIA’s results an important read-through for AI infrastructure demand. NVIDIA Earnings Could Move These 3 AI Stocks
- Neutral Sentiment: Reported short-interest data showed no measurable short position, but the figures appear incomplete or erroneous, limiting their usefulness as a trading signal.
- Negative Sentiment: Analysts expect continued gross-margin contraction in the upcoming third-quarter report, raising concerns that Broadcom’s rapid AI expansion could pressure profitability. Broadcom Q3 Earnings Preview
- Negative Sentiment: Reports that Broadcom is arranging roughly $60 billion of AI-related financing, potentially through structures that keep debt off its balance sheet, have increased investor concerns about leverage, credit-default-swap risk and the ultimate scale of AI deployment obligations. Broadcom’s $60 Billion AI Debt Deal
- Negative Sentiment: Broadcom is also facing broader semiconductor-sector selling ahead of NVIDIA’s report, while Marvell’s expanded custom-chip agreement with Google has intensified worries about customer concentration and competitive pressure. Broadcom Stock Drops Amid Rising Credit Default Swap Concerns
Wall Street Analyst Weigh In
AVGO has been the subject of a number of recent research reports. Morgan Stanley set a $502.00 target price on Broadcom and gave the stock an "overweight" rating in a research note on Thursday, June 4th. KeyCorp reissued an "overweight" rating and issued a $575.00 price objective (up from $500.00) on shares of Broadcom in a report on Thursday, June 4th. Wells Fargo & Company restated an "overweight" rating and set a $545.00 price objective (up from $430.00) on shares of Broadcom in a research report on Thursday, May 14th. Wall Street Zen downgraded shares of Broadcom from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 18th. Finally, Truist Financial boosted their target price on shares of Broadcom from $545.00 to $550.00 and gave the company a "buy" rating in a report on Thursday, June 4th. Twenty-nine equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $491.97.
View Our Latest Stock Analysis on Broadcom
Insider Activity
In other news, Director Harry L. You acquired 1,000 shares of the firm's stock in a transaction dated Thursday, June 11th. The stock was acquired at an average cost of $373.57 per share, with a total value of $373,570.00. Following the transaction, the director owned 38,466 shares in the company, valued at approximately $14,369,743.62. This trade represents a 2.67% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Gayla J. Delly sold 1,890 shares of the business's stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $385.38, for a total transaction of $728,368.20. Following the transaction, the director owned 31,326 shares of the company's stock, valued at approximately $12,072,413.88. The trade was a 5.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 61,644 shares of company stock worth $24,016,214. Insiders own 1.90% of the company's stock.
Broadcom Price Performance
AVGO stock opened at $356.74 on Wednesday. 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 firm has a market capitalization of $1.70 trillion, a P/E ratio of 59.46, a P/E/G ratio of 0.68 and a beta of 1.45. The business's 50-day moving average is $387.47 and its two-hundred day moving average is $375.72. Broadcom Inc. has a 1 year low of $287.17 and a 1 year high of $495.00.
Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, topping analysts' consensus estimates of $2.40 by $0.04. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The business had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $22.13 billion. During the same period in the previous year, the company posted $1.58 earnings per share. The business's revenue for the quarter was up 47.9% on a year-over-year basis. Analysts anticipate that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.
Broadcom Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd were issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.7%. The ex-dividend date was Monday, June 22nd. Broadcom's payout ratio is 43.33%.
About Broadcom
(
Free Report)
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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