Parallel Advisors LLC Acquires 2,644 Shares of Broadcom Inc. $AVGO

Key Points

• Parallel Advisors LLC increased its Broadcom stake by 2.5% in the first quarter, adding 2,644 shares to own 109,497 shares worth approximately $33.9 million. Institutional investors and hedge funds collectively own 76.43% of AVGO.
• Broadcom reported quarterly EPS of $2.44 and revenue of $22.19 billion, with revenue up 47.9% year over year. Shares were recently trading at $418.16, while analysts maintained a “Moderate Buy” consensus rating and an average price target of $493.24.
• The company declared a quarterly dividend of $0.65, equivalent to $2.60 annually and a 0.6% yield. Despite positive analyst sentiment, insiders have sold 61,644 shares worth about $24 million over the past three months.

Parallel Advisors LLC increased its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 2.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 109,497 shares of the semiconductor manufacturer's stock after buying an additional 2,644 shares during the period. Broadcom accounts for 0.6% of Parallel Advisors LLC's holdings, making the stock its 25th largest position. Parallel Advisors LLC's holdings in Broadcom were worth $33,890,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AVGO. Bank of America Corp DE increased its holdings in shares of Broadcom by 1.5% during the first quarter. Bank of America Corp DE now owns 58,737,097 shares of the semiconductor manufacturer's stock worth $18,179,719,000 after buying an additional 894,564 shares in the last quarter. Bartlett & CO. Wealth Management LLC boosted its holdings 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 acquiring an additional 62,050 shares in the last quarter. Sovran Advisors LLC grew its position in Broadcom by 121.3% during the 4th quarter. Sovran Advisors LLC now owns 30,631 shares of the semiconductor manufacturer's stock worth $10,507,000 after acquiring an additional 16,789 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its position in Broadcom by 406.1% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,994 shares of the semiconductor manufacturer's stock worth $4,151,000 after acquiring an additional 9,624 shares during the last quarter. Finally, Aspiriant LLC increased its holdings in Broadcom by 18.5% in the 4th quarter. Aspiriant LLC now owns 12,016 shares of the semiconductor manufacturer's stock worth $4,158,000 after purchasing an additional 1,872 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Stock Up 6.6%

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

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

Broadcom Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on AVGO shares. Dbs Bank upgraded Broadcom to a "moderate buy" rating in a research report on Thursday, June 18th. Rosenblatt Securities restated a "buy" rating and set a $500.00 price target on shares of Broadcom in a report on Thursday, June 4th. Susquehanna reaffirmed 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. The Goldman Sachs Group reiterated a "buy" rating on shares of Broadcom in a report on Monday. Finally, Jefferies Financial Group set a $550.00 target price on shares of Broadcom and gave the stock a "buy" rating in a research report on Thursday, June 4th. Twenty-eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, Broadcom presently has a consensus rating of "Moderate Buy" and an average target price of $493.24.

More Broadcom News

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

Insider Buying and Selling

In other news, insider Mark David Brazeal sold 25,000 shares of the business's stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $401.33, for a total value of $10,033,250.00. Following the transaction, the insider owned 194,989 shares in the company, valued at approximately $78,254,935.37. The trade was a 11.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $598,923.72. Following the completion of the sale, the director directly owned 17,426 shares in the company, valued at approximately $6,514,884.36. This represents a 8.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 61,644 shares of company stock valued at $24,016,214. Insiders own 1.90% of the company's stock.

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.

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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