Pacific Excel Wealth Advisors Inc. Raises Holdings in Broadcom Inc. $AVGO

Key Points

• Pacific Excel Wealth Advisors increased its Broadcom stake by 197.7% in the second quarter, ending with 8,981 shares valued at approximately $3.39 million. Institutional investors collectively own 76.43% of the company.
• Wall Street sentiment remains favorable, with 28 analysts assigning Buy ratings and four issuing Holds. Broadcom has a “Moderate Buy” consensus rating and an average price target of $493.24.
• Broadcom exceeded quarterly expectations with adjusted earnings of $2.44 per share and revenue of $22.19 billion, up 47.9% year over year. The company also pays a quarterly dividend of $0.65 per share, while insiders sold more than 61,000 shares worth about $24 million over the past quarter.

Pacific Excel Wealth Advisors Inc. increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 197.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,981 shares of the semiconductor manufacturer's stock after acquiring an additional 5,964 shares during the quarter. Broadcom makes up 1.3% of Pacific Excel Wealth Advisors Inc.'s investment portfolio, making the stock its 19th largest position. Pacific Excel Wealth Advisors Inc.'s holdings in Broadcom were worth $3,393,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. ROSS JOHNSON & Associates LLC boosted its stake in shares of Broadcom by 1,320.0% during the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer's stock valued at $25,000 after purchasing an additional 66 shares during the period. Networth Advisors LLC increased its stake in shares of Broadcom by 546.2% in the first quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer's stock worth $26,000 after buying an additional 71 shares during the period. SWAN Capital LLC increased its stake in shares of Broadcom by 261.9% in the fourth quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer's stock worth $26,000 after buying an additional 55 shares during the period. Nvest Wealth Strategies Inc. bought a new stake in Broadcom during the 4th quarter valued at $33,000. Finally, Family CFO Inc bought a new stake in Broadcom during the 4th quarter valued at $35,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AVGO. Bank of America raised their price target on shares of Broadcom from $450.00 to $530.00 and gave the stock a "buy" rating in a report on Thursday, June 4th. JPMorgan Chase & Co. upped their price objective on shares of Broadcom from $500.00 to $580.00 and gave the company an "overweight" rating in a research note on Thursday, June 4th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $515.00 price objective (up from $430.00) on shares of Broadcom in a research note on Thursday, June 4th. The Goldman Sachs Group reissued a "buy" rating on shares of Broadcom in a research note on Monday. Finally, Wells Fargo & Company restated an "overweight" rating and set a $545.00 price target (up from $430.00) on shares of Broadcom in a report on Thursday, May 14th. Twenty-eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Broadcom currently has an average rating of "Moderate Buy" and an average price target of $493.24.

Broadcom Trading Up 6.6%

NASDAQ:AVGO opened at $418.16 on Wednesday. The company has a 50-day moving average price of $393.57 and a 200-day moving average price of $369.03. The stock has a market cap of $1.99 trillion, a price-to-earnings ratio of 69.69, a P/E/G ratio of 0.75 and a beta of 1.45. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. Broadcom Inc. has a 12 month low of $281.87 and a 12 month high of $495.00.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results 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. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The company had revenue of $22.19 billion for the quarter, compared to analysts' expectations of $22.13 billion. During the same quarter in the previous year, the company earned $1.58 earnings per share. Broadcom's quarterly revenue was up 47.9% on a year-over-year basis. Equities analysts predict that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd were issued a dividend of $0.65 per share. The ex-dividend date was Monday, June 22nd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.6%. Broadcom's dividend payout ratio is 43.33%.

Insider Transactions at Broadcom

In related news, insider Mark David Brazeal sold 25,000 shares of the company's 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 sale, the insider directly owned 194,989 shares of the company's stock, valued at $78,254,935.37. This represents a 11.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Justine Page sold 1,602 shares of the firm'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 transaction, the director directly owned 17,426 shares of the company's stock, valued at $6,514,884.36. This represents a 8.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 61,644 shares of company stock worth $24,016,214 over the last quarter. Insiders own 1.90% of the company's stock.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Investors are focusing on Broadcom’s role in Google’s planned roughly $200 billion AI buildout. The company’s custom accelerators, networking products, and infrastructure software could benefit as major cloud providers expand computing capacity. Broadcom and Google’s $200 Billion AI Build Put Its Chip Role in Focus
• Positive Sentiment: Broadcom participated in a sharp risk-on rally across the chip sector, as investors rotated back into AI-related semiconductor shares. The broader industry move provided additional momentum for AVGO beyond company-specific news. Intel Soars, AMD Jumps, Broadcom Rises as Chip Stocks Rally
• Positive Sentiment: The AI investment narrative remains the key catalyst. Broadcom’s second-quarter AI semiconductor revenue reportedly reached $10.8 billion, up 143% year over year, while management reiterated its expectation that AI semiconductor revenue will exceed $100 billion in fiscal 2027. Broadcom Shares Jump as Investors Revisit AI Growth Catalysts
• Positive Sentiment: Analyst support is favorable: Deutsche Bank and UBS issued Buy ratings, and the reported median price target of $525 remains above the stock’s referenced trading level. Broadcom Analyst Ratings and Price Targets
• Neutral Sentiment: Broadcom will report third-quarter fiscal 2026 results after the market closes on September 2. The announcement gives investors a near-term catalyst to assess AI growth, margins, and forward guidance. Broadcom to Announce Third-Quarter Fiscal 2026 Results
• Negative Sentiment: Broadcom lost a court bid to suspend an EU antitrust request for U.S. legal documents connected with VMware, creating potential legal and regulatory uncertainty following the 2023 acquisition. Broadcom Loses Court Bid to Suspend EU Antitrust Request
• Negative Sentiment: Reported insider activity has been heavily weighted toward sales over the past six months, which may temper sentiment despite strong AI fundamentals. Broadcom Insider Trading Activity

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.

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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