Integrated Wealth Concepts LLC Buys 75,736 Shares of Broadcom Inc. $AVGO

Key Points

• Integrated Wealth Concepts LLC increased its Broadcom stake by 58.5% in the second quarter, purchasing 75,736 additional shares and bringing its holdings to 205,130 shares valued at approximately $76.4 million.
• Broadcom reported quarterly revenue of $29.59 billion and EPS of $3.32, beating analyst expectations, while revenue surged 85.5% year over year. Analysts maintain a generally bullish outlook, with a consensus “Moderate Buy” rating and an average price target of $509.04.
• The company’s key growth catalyst remains demand for custom AI chips and infrastructure, though concerns about potentially slower hyperscaler AI spending have pressured shares. Broadcom also announced a quarterly dividend of $0.65 per share, implying a 0.7% annual yield.

Integrated Wealth Concepts LLC raised its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 58.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 205,130 shares of the semiconductor manufacturer's stock after buying an additional 75,736 shares during the period. Integrated Wealth Concepts LLC's holdings in Broadcom were worth $76,429,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. RFG Advisory LLC increased its stake in shares of Broadcom by 18.0% during the second quarter. RFG Advisory LLC now owns 44,874 shares of the semiconductor manufacturer's stock valued at $16,951,000 after buying an additional 6,845 shares during the period. Steamboat Capital Partners LLC grew its holdings in Broadcom by 20.9% during the 2nd quarter. Steamboat Capital Partners LLC now owns 54,388 shares of the semiconductor manufacturer's stock worth $20,545,000 after acquiring an additional 9,388 shares in the last quarter. Pointe Capital Management LLC increased its position in Broadcom by 21.2% during the 2nd quarter. Pointe Capital Management LLC now owns 1,953 shares of the semiconductor manufacturer's stock valued at $738,000 after purchasing an additional 341 shares during the period. Ehrenkranz Partners L.P. purchased a new position in Broadcom during the 2nd quarter valued at about $238,000. Finally, Governors Lane LP bought a new stake in shares of Broadcom in the 2nd quarter valued at about $5,704,000. 76.43% of the stock is currently owned by institutional investors.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s custom-chip opportunity remains the main bullish catalyst. Management forecasts AI semiconductor revenue of approximately $115 billion in fiscal 2027 and $230 billion in fiscal 2028, while recent reports say AI chip orders are tripling. Investors are looking for evidence that these orders will translate into revenue and earnings growth. Investors Want to Know When Broadcom’s Custom Hyperscaler Chips Will Move Share Prices
• Positive Sentiment: Analysts and market commentators see substantial upside after the summer selloff. Jim Cramer called AVGO potentially “too cheap to ignore,” while other coverage points to a wide gap between the current share price and Wall Street price targets. Jim Cramer on Broadcom: The Stock May Be Too Cheap to Ignore
• Positive Sentiment: Broadcom is viewed as a key supplier to the next phase of AI infrastructure, including custom accelerators, networking and inference hardware. Industry commentary also highlights potential growth in enterprise AI and VMware private-cloud demand, although the evidence for that software trend is mixed. Enterprise AI to Boost Broadcom’s Software Business
• Neutral Sentiment: The broader semiconductor rebound helped lift AVGO, but the stock’s performance is still being driven more by expectations than by newly announced company-specific results. Investors are waiting for custom-hyperscaler chip deployments to produce visible financial impact.
• Negative Sentiment: Shares have faced pressure after Anthropic and OpenAI leaders urged caution around rapidly scaling advanced AI models. That has raised concerns that hyperscalers could slow infrastructure spending, even though Broadcom’s CEO has reportedly maintained the company’s AI revenue targets. Broadcom Shares Fell as Slower AI Development Raised Demand Concerns

Insiders Place Their Bets

In other news, Director Gayla J. Delly sold 1,890 shares of Broadcom stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $385.38, for a total transaction of $728,368.20. Following the completion of the sale, the director directly owned 31,326 shares in the company, valued at approximately $12,072,413.88. The trade was a 5.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Mark Brazeal sold 25,000 shares of the business's stock in a transaction on Friday, July 10th. The shares were sold at an average price of $401.33, for a total transaction of $10,033,250.00. Following the sale, the insider directly owned 194,989 shares in the company, valued at $78,254,935.37. This trade represents a 11.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 53,492 shares of company stock valued at $20,840,292. Insiders own 1.90% of the company's stock.

Broadcom Stock Up 2.3%

Shares of AVGO stock opened at $347.30 on Friday. The stock's fifty day moving average price is $379.76 and its 200 day moving average price is $379.16. Broadcom Inc. has a 1-year low of $289.96 and a 1-year high of $495.00. The company has a market cap of $1.66 trillion, a price-to-earnings ratio of 44.36 and a beta of 1.44. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.29.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 EPS for the quarter, beating analysts' consensus estimates of $3.22 by $0.10. Broadcom had a return on equity of 48.33% and a net margin of 42.94%.The company had revenue of $29.59 billion during the quarter, compared to analysts' expectations of $29.24 billion. During the same period last year, the business posted $1.69 earnings per share. The firm's revenue was up 85.5% compared to the same quarter last year. On average, research analysts expect that Broadcom Inc. will post 10.36 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Monday, September 21st will be paid a $0.65 dividend. The ex-dividend date is Monday, September 21st. This represents a $2.60 dividend on an annualized basis and a yield of 0.7%. Broadcom's dividend payout ratio (DPR) is 33.21%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AVGO. Dbs Bank raised shares of Broadcom to a "moderate buy" rating in a research report on Thursday, June 18th. Rosenblatt Securities began coverage on shares of Broadcom in a research note on Thursday, September 3rd. They issued a "buy" rating and a $600.00 price objective for the company. Truist Financial lowered their target price on Broadcom from $550.00 to $520.00 and set a "buy" rating for the company in a report on Thursday, September 3rd. Weiss Ratings cut Broadcom from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, July 30th. Finally, Oppenheimer reissued an "outperform" rating and issued a $535.00 price target (up from $450.00) on shares of Broadcom in a research report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, Broadcom presently has a consensus rating of "Moderate Buy" and an average target price of $509.04.

Broadcom Profile

Broadcom Inc NASDAQ: AVGO designs, develops and supplies semiconductor and infrastructure software products for businesses, telecommunications providers and other organizations worldwide. Its semiconductor portfolio includes networking and connectivity components, custom application-specific integrated circuits, broadband and wireless communications products, storage adapters, optical components, and industrial solutions.

The company also provides enterprise infrastructure software through businesses including VMware, which offers virtualization and private- and hybrid-cloud solutions; mainframe and enterprise software; and cybersecurity products.

Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc. (NASDAQ:AVGO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.