Lexington Hill Partners LLC Takes $432,000 Position in Broadcom Inc. $AVGO

Key Points

• Lexington Hill Partners opened a new Broadcom position in the first quarter, buying 1,395 shares valued at about $432,000.
• Wall Street sentiment remains bullish, with several analysts raising price targets and Broadcom holding a consensus rating of Moderate Buy with an average target of $490.13.
• Broadcom reported strong quarterly results, posting EPS of $2.44 and revenue of $22.19 billion, both ahead of estimates, while also declaring a $0.65 quarterly dividend.

Lexington Hill Partners LLC bought a new stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,395 shares of the semiconductor manufacturer's stock, valued at approximately $432,000.

Other hedge funds have also recently added to or reduced their stakes in the company. RFG Holdings Inc. lifted its stake in Broadcom by 0.3% during the first quarter. RFG Holdings Inc. now owns 8,499 shares of the semiconductor manufacturer's stock worth $2,631,000 after purchasing an additional 26 shares during the period. Redstone Wealth Management LLC acquired a new stake in Broadcom during the first quarter valued at approximately $664,000. Genesis Private Wealth LLC grew its stake in shares of Broadcom by 0.7% in the 1st quarter. Genesis Private Wealth LLC now owns 4,122 shares of the semiconductor manufacturer's stock valued at $1,276,000 after purchasing an additional 30 shares during the period. Diversified Trust Co raised its holdings in shares of Broadcom by 1.0% in the 1st quarter. Diversified Trust Co now owns 153,535 shares of the semiconductor manufacturer's stock worth $47,521,000 after buying an additional 1,572 shares in the last quarter. Finally, Baron Wealth Management LLC raised its holdings in shares of Broadcom by 2.4% in the 1st quarter. Baron Wealth Management LLC now owns 5,775 shares of the semiconductor manufacturer's stock worth $1,787,000 after buying an additional 136 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Evercore reaffirmed an "outperform" rating and issued a $582.00 price target on shares of Broadcom in a research note on Tuesday, May 19th. Mizuho increased their price objective on Broadcom from $480.00 to $530.00 and gave the stock an "outperform" rating in a research note on Thursday, June 4th. JPMorgan Chase & Co. lifted their price objective on Broadcom from $500.00 to $580.00 and gave the company an "overweight" rating in a report on Thursday, June 4th. 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 research note on Thursday, June 4th. Finally, Susquehanna reaffirmed a "positive" rating and issued a $490.00 target price (up from $450.00) on shares of Broadcom in a report on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $490.13.

Insider Activity

In other news, insider Mark David Brazeal sold 4,825 shares of the stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $394.91, for a total transaction of $1,905,440.75. Following the sale, the insider directly owned 269,989 shares of the company's stock, valued at $106,621,355.99. This represents a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gayla J. Delly sold 1,000 shares of the firm's stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $358.31, for a total transaction of $358,310.00. Following the completion of the sale, the director directly owned 32,352 shares of the company's stock, valued at approximately $11,592,045.12. This represents a 3.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 59,385 shares of company stock worth $21,301,057. 1.90% of the stock is currently owned by insiders.

Broadcom Stock Down 4.7%

NASDAQ AVGO opened at $392.13 on Tuesday. The stock's 50 day simple moving average is $412.17 and its 200 day simple moving average is $363.42. Broadcom Inc. has a one year low of $246.46 and a one year high of $495.00. The firm has a market cap of $1.87 trillion, a PE ratio of 65.36, a price-to-earnings-growth ratio of 0.72 and a beta of 1.41. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.04. The firm had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The business's revenue for the quarter was up 47.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.58 EPS. As a group, sell-side analysts forecast that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 22nd will be given a dividend of $0.65 per share. The ex-dividend date is Monday, June 22nd. This represents a $2.60 annualized dividend and a yield of 0.7%. Broadcom's dividend payout ratio is 43.33%.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Analysts and market commentators are pointing to Broadcom’s strong AI demand as the main reason to stay bullish. Recent coverage highlighted record semiconductor sales, AI chip and networking demand, and strong customer commitments as evidence that the company’s AI growth story remains intact. Broadcom's AI Push Boosts Semiconductor Sales: More Upside Ahead?
• Positive Sentiment: JPMorgan reportedly reiterated buy-the-dip optimism, citing Broadcom’s multi-year Google partnership, record quarterly revenue of $22.19 billion, and AI semiconductor sales of $10.8 billion, up 143% year over year. The note also pointed to expectations for another step-up in AI-chip growth next quarter. Broadcom's AI boom — Google deal and huge revenue growth spark buy-the-dip calls
• Positive Sentiment: Several pieces argue that the market is overreacting to a modest AI revenue guide and that the selloff has created an accumulation opportunity. They emphasize that Broadcom’s revenue, semiconductor growth, AI bookings, and backlog are all at record levels, which supports the longer-term investment case. The Grandest Castle Ever Floated (and the Stocks to Profit From It)
• Positive Sentiment: Broadcom is also attracting broader investor attention and continued analyst support, including a consensus “Moderate Buy” rating, which may help stabilize sentiment after the recent decline. Broadcom Inc. NASDAQ: AVGO Receives Consensus Recommendation of "Moderate Buy" from Analysts

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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