Legacy Wealth Managment LLC ID Acquires 1,471 Shares of Broadcom Inc. $AVGO

Key Points

• Legacy Wealth Management LLC ID increased its Broadcom stake by 157% in the second quarter, purchasing 1,471 additional shares and bringing its holdings to 2,408 shares valued at approximately $910,000.
• Broadcom reported quarterly earnings and revenue above analyst expectations, with revenue up 85.5% year over year. Institutional investors own 76.43% of the company, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $505.97.
• Broadcom’s AI semiconductor outlook remains a major growth catalyst, although its high valuation, rising yields and potential competition from in-house customer chip programs could pressure investor sentiment.

Legacy Wealth Managment LLC ID lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 157.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,408 shares of the semiconductor manufacturer's stock after buying an additional 1,471 shares during the period. Legacy Wealth Managment LLC ID's holdings in Broadcom were worth $910,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Cornerstone Advisors LLC bought a new position in Broadcom in the second quarter valued at about $92,522,000. Bank of America Corp DE grew its stake in shares of Broadcom by 1.5% during the 1st quarter. Bank of America Corp DE now owns 58,737,097 shares of the semiconductor manufacturer's stock valued at $18,179,719,000 after purchasing an additional 894,564 shares during the period. Clear Harbor Asset Management LLC purchased a new stake in shares of Broadcom during the 2nd quarter valued at about $3,302,000. Bartlett & CO. Wealth Management LLC increased its position in shares of Broadcom by 129.3% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 110,048 shares of the semiconductor manufacturer's stock valued at $34,061,000 after purchasing an additional 62,050 shares during the last quarter. Finally, First Bank & Trust lifted its stake in shares of Broadcom by 17.2% in the 2nd quarter. First Bank & Trust now owns 10,503 shares of the semiconductor manufacturer's stock worth $3,968,000 after purchasing an additional 1,545 shares during the period. 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: Analyst upgrade: Piper Sandler upgraded Broadcom to “strong buy,” reinforcing confidence in the company’s earnings growth and AI semiconductor outlook. Zacks Broadcom analyst upgrade
• Positive Sentiment: AI revenue expectations remain a major catalyst: Broadcom projects approximately $115 billion in AI semiconductor revenue for fiscal 2027 and $230 billion for fiscal 2028. Custom accelerators and networking products are benefiting from hyperscalers seeking lower-cost, workload-specific alternatives to Nvidia’s chips. Broadcom AI semiconductor revenue forecast
• Positive Sentiment: Strong customer demand: OpenAI, Anthropic, Alphabet and Meta are cited as buyers or potential buyers of Broadcom-designed accelerators, supporting the view that the company can gain share as AI infrastructure becomes more diversified. Broadcom custom AI accelerator demand
• Positive Sentiment: Recent execution was solid: Broadcom exceeded quarterly earnings and revenue estimates, while revenue rose sharply year over year. Analysts continue to argue that improving profits could eventually support a significantly higher valuation. Broadcom earnings and analyst coverage
• Neutral Sentiment: Market and valuation backdrop: Rising Treasury yields and a high earnings multiple are encouraging investors to scrutinize expensive AI stocks, even when long-term demand remains strong. Broadcom’s ability to deliver on its 2027–2028 forecasts will be critical.
• Negative Sentiment: Competitive uncertainty: Google’s internal chip efforts and OpenAI’s newly disclosed Samsung partnership have raised questions about whether some future custom-chip business could bypass Broadcom. The impact is unclear, but the developments may pressure near-term sentiment. Broadcom Google chip risks

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. DA Davidson set a $350.00 price objective on shares of Broadcom and gave the stock a "neutral" rating in a report on Friday, September 4th. Royal Bank Of Canada started coverage on shares of Broadcom in a research report on Thursday, September 3rd. They issued an "outperform" rating on the stock. Bank of America lifted their price target on shares of Broadcom from $450.00 to $530.00 and gave the stock a "buy" rating in a research note on Thursday, June 4th. Jefferies Financial Group initiated coverage on shares of Broadcom in a research report on Thursday, September 3rd. They set a "buy" rating for the company. Finally, Susquehanna restated a "positive" rating and issued a $490.00 price objective (up from $450.00) on shares of Broadcom in a research note on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $505.97.

Insider Activity at Broadcom

In related news, Director Gayla Delly sold 1,890 shares of the company's stock in a transaction on 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Mark Brazeal sold 25,000 shares of the stock in a transaction on Friday, July 10th. The stock was sold at an average price of $401.33, for a total value of $10,033,250.00. Following the completion of the sale, the insider 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 disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 61,644 shares of company stock worth $24,016,214. 1.90% of the stock is owned by corporate insiders.

Broadcom Stock Performance

Broadcom stock opened at $361.99 on Monday. The firm has a 50 day moving average of $383.03 and a 200 day moving average of $378.66. The firm has a market capitalization of $1.73 trillion, a price-to-earnings ratio of 46.23 and a beta of 1.44. Broadcom Inc. has a 12-month low of $289.96 and a 12-month high of $495.00. The company has a current ratio of 2.50, a quick ratio of 2.29 and a debt-to-equity ratio of 0.57.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share for the quarter, beating the consensus estimate of $3.22 by $0.10. The business had revenue of $29.59 billion for the quarter, compared to the consensus estimate of $29.24 billion. Broadcom had a net margin of 42.94% and a return on equity of 48.33%. The company's revenue for the quarter was up 85.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.69 earnings per share. As a group, research analysts predict that Broadcom Inc. will post 10.36 earnings per share for the current year.

Broadcom Dividend Announcement

The company 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 dividend of $0.65 per share. The ex-dividend date is Monday, September 21st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.7%. Broadcom's payout ratio is 33.21%.

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.