Johnson Investment Counsel Inc. grew its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 14.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 402,688 shares of the semiconductor manufacturer's stock after buying an additional 49,862 shares during the period. Broadcom accounts for 1.1% of Johnson Investment Counsel Inc.'s investment portfolio, making the stock its 22nd largest holding. Johnson Investment Counsel Inc.'s holdings in Broadcom were worth $152,115,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently modified their holdings of AVGO. ROSS JOHNSON & Associates LLC boosted its stake in 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 acquiring an additional 66 shares in the last quarter. Networth Advisors LLC increased its position in shares of Broadcom by 546.2% during the first quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer's stock worth $26,000 after purchasing an additional 71 shares in the last quarter. SWAN Capital LLC lifted its holdings in shares of 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 last quarter. Nvest Wealth Strategies Inc. acquired a new stake in shares of Broadcom in the 4th quarter valued at about $33,000. Finally, PayPay Securities Corp boosted its position in shares of Broadcom by 88.9% in the 4th quarter. PayPay Securities Corp now owns 119 shares of the semiconductor manufacturer's stock valued at $41,000 after purchasing an additional 56 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.
Broadcom Stock Performance
NASDAQ:AVGO opened at $362.48 on Thursday. The firm's fifty day moving average price is $389.27 and its 200 day moving average price is $374.61. Broadcom Inc. has a 1-year low of $281.87 and a 1-year high of $495.00. 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 cap of $1.72 trillion, a price-to-earnings ratio of 60.41, a price-to-earnings-growth ratio of 0.73 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 EPS for the quarter, topping analysts' consensus estimates of $2.40 by $0.04. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The company had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $22.13 billion. During the same quarter in the prior year, the firm earned $1.58 EPS. Broadcom's quarterly revenue was up 47.9% on a year-over-year basis. On average, sell-side analysts expect that Broadcom Inc. will post 10.24 EPS for the current year.
Broadcom Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were paid a dividend of $0.65 per share. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. Broadcom's payout ratio is 43.33%.
Insider Transactions at Broadcom
In other Broadcom news, Director Justine Page sold 1,602 shares of the company's stock in a transaction on Monday, June 29th. The stock was sold at an average price of $373.86, for a total value of $598,923.72. Following the sale, the director owned 17,426 shares of the company's stock, valued at approximately $6,514,884.36. This represents a 8.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gayla J. Delly sold 1,890 shares of Broadcom stock in a transaction dated 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. Insiders have sold a total of 61,644 shares of company stock valued at $24,016,214 in the last three months. 1.90% of the stock is owned by company insiders.
Trending Headlines about Broadcom
Here are the key news stories impacting Broadcom this week:
- Positive Sentiment: Broadcom’s custom AI accelerator and networking businesses remain major growth drivers. The company recently reported 47.9% year-over-year revenue growth and exceeded quarterly EPS and revenue expectations, while one analysis argues its combination of custom chips and data-center networking gives it durable AI exposure. Broadcom AI infrastructure analysis
- Positive Sentiment: TD Cowen reiterated a Buy rating and maintained a $500 price target, indicating that at least one major analyst views the recent weakness as an opportunity rather than a deterioration in Broadcom’s long-term outlook. TD Cowen Broadcom price target
- Positive Sentiment: Broader AI spending trends remain favorable for chip and infrastructure suppliers, including Broadcom, as companies increase investment in compute and connectivity. Anthropic’s reported growth and its infrastructure relationships also highlight potential demand for Broadcom custom silicon. Anthropic pre-IPO and Broadcom infrastructure
- Neutral Sentiment: Broadcom is scheduled to pay its regular quarterly dividend of $0.65 per share on September 30, providing income support but little immediate catalyst for the stock. Broadcom dividend announcement
- Negative Sentiment: Marvell Technology announced an agreement to help Google develop custom AI chips and received a potential $12.2 billion Google-linked warrant or equity option. Because Broadcom has been viewed as Google’s leading custom-chip partner, the deal raised concerns that Marvell could take share or weaken Broadcom’s negotiating position. Marvell Google custom AI chip deal
- Negative Sentiment: Investors remain concerned about financing conditions for AI infrastructure spending, Broadcom’s leverage and VMware-related issues, including a reported vCenter Syslog Server vulnerability. Comparisons with NVIDIA and Astera Labs also emphasize Broadcom’s higher perceived financial risk or less attractive growth profile. Broadcom VMware and financing concerns
Wall Street Analysts Forecast Growth
Several research analysts have commented on AVGO shares. Citigroup reaffirmed a "buy" rating on shares of Broadcom in a research report on Thursday, June 4th. Morgan Stanley set a $502.00 target price on shares of Broadcom and gave the stock an "overweight" rating in a research report on Thursday, June 4th. Zacks Research cut shares of Broadcom from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 21st. Erste Group Bank reiterated a "hold" rating on shares of Broadcom in a research report on Tuesday, July 7th. Finally, Jefferies Financial Group set a $550.00 price target on shares of Broadcom and gave the stock a "buy" rating in a research note on Thursday, June 4th. Twenty-eight equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $493.24.
Check Out Our Latest Research Report on Broadcom
Broadcom Profile
(
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.
See Also
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.
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