Long Corridor Asset Management Ltd Makes New Investment in Broadcom Inc. $AVGO

Key Points

• Long Corridor Asset Management purchased 30,000 Broadcom shares worth approximately $11.3 million in the second quarter, making AVGO about 3.4% of its portfolio. Institutional investors collectively own 76.43% of Broadcom.
• Wall Street remains broadly bullish, with 29 Buy ratings and four Holds producing a consensus “Moderate Buy” rating and an average price target of $491.97.
• Broadcom’s latest quarterly results exceeded expectations, with revenue up 47.9% year over year to $22.19 billion and EPS of $2.44; however, elevated valuation, insider selling and competitive pressures remain risks.

Long Corridor Asset Management Ltd purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 30,000 shares of the semiconductor manufacturer's stock, valued at approximately $11,332,000. Broadcom makes up about 3.4% of Long Corridor Asset Management Ltd's investment portfolio, making the stock its 12th largest position.

Other institutional investors have also recently made changes to their positions in the company. William Blair Investment Management LLC purchased a new stake in Broadcom in the second quarter valued at about $776,705,000. Avanda Investment Management Pte. Ltd. purchased a new stake in shares of Broadcom during the second quarter worth about $4,748,000. Landscape Capital Management L.L.C. acquired a new position in shares of Broadcom during the second quarter valued at about $3,826,000. Concord Investment Counsel Inc. acquired a new position in shares of Broadcom during the second quarter valued at about $5,110,000. Finally, Korea Investment CORP purchased a new position in shares of Broadcom in the 2nd quarter valued at approximately $1,211,453,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on AVGO shares. JPMorgan Chase & Co. lifted their target price on shares of Broadcom from $500.00 to $580.00 and gave the stock an "overweight" rating in a research note on Thursday, June 4th. Evercore restated an "outperform" rating and set a $582.00 price target on shares of Broadcom in a research note on Tuesday, May 19th. Citigroup reaffirmed a "buy" rating on shares of Broadcom in a report on Thursday, June 4th. Royal Bank Of Canada reissued a "sector perform" rating and set a $400.00 price objective on shares of Broadcom in a report on Wednesday, August 26th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $525.00 target price on shares of Broadcom in a research report on Thursday, June 4th. Twenty-nine investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $491.97.

Insider Buying and Selling 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 shares were sold at an average price of $373.86, for a total value of $598,923.72. Following the sale, the director directly 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 can be accessed through this link. Also, insider Mark David Brazeal sold 25,000 shares of the stock in a transaction dated 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 sale, the insider directly owned 194,989 shares in the company, valued at $78,254,935.37. This represents a 11.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 61,644 shares of company stock worth $24,016,214 over the last ninety days. 1.90% of the stock is owned by insiders.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom unveiled VMware Private AI Cloud, including VMware AI Factory, AI-ready data foundations and support for more than 150 commercial and open-source models. The platform is designed to reduce AI infrastructure deployment from weeks to hours, improve GPU utilization and give enterprises greater control over AI costs. Broadcom launches private AI cloud tools
• Positive Sentiment: New VMware capabilities—AgentMinder, vDefend and Avi Load Balancer—target security, identity, governance and observability for autonomous AI agents. The launches could strengthen Broadcom’s position in enterprise hybrid-cloud and private-AI deployments while creating additional infrastructure-software opportunities. Broadcom agentic AI security announcement
• Positive Sentiment: Broadcom also launched TrueSource, a commercially supported portfolio of verified open-source software covering Spring, Java, Python, Node.js, PostgreSQL, MySQL and other data engines. The offering may expand recurring software revenue and address growing enterprise demand for secure software supply chains. Broadcom TrueSource announcement
• Neutral Sentiment: Analysts expect another sharp increase in quarterly results, with consensus estimates cited near $29.4 billion in revenue and $3.24 in EPS. Investors will focus on AI-chip demand, hyperscaler custom-ASIC growth, VMware execution, margins and forward guidance when AVGO reports after the market closes on September 2. Broadcom Q3 earnings preview
• Neutral Sentiment: Optimistic coverage points to a median analyst price target of $525 and potential upside from backlog strength, while technical commentary identifies the current area as important support. However, the stock’s reaction may depend more on results and guidance than on existing bullish targets. Broadcom Wall Street outlook
• Negative Sentiment: Semiconductor shares broadly weakened as a global bond selloff pushed long-term yields higher, pressuring high-multiple technology stocks. Broadcom also faces elevated expectations, a valuation near 62 times earnings, margin concerns and competitive pressure from Nvidia, Nutanix and Microsoft. Reported insider activity is heavily weighted toward sales, adding another cautionary signal. Semiconductor stocks and rising yields

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $369.68 on Wednesday. Broadcom Inc. has a twelve month low of $287.17 and a twelve month high of $495.00. The company's 50 day moving average is $384.43 and its 200 day moving average is $376.88. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. The company has a market cap of $1.76 trillion, a PE ratio of 61.61, a price-to-earnings-growth ratio of 0.71 and a beta of 1.44.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (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 analyst estimates of $22.13 billion. During the same period last year, the firm posted $1.58 EPS. Broadcom's revenue for the quarter was up 47.9% compared to the same quarter last year. On average, sell-side analysts forecast that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Company 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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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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