Private Advisory Group LLC bought a new stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 87,992 shares of the semiconductor manufacturer's stock, valued at approximately $33,239,000. Broadcom accounts for approximately 1.8% of Private Advisory Group LLC's investment portfolio, making the stock its 15th largest holding.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of AVGO. Bank of America Corp DE increased its holdings in Broadcom by 1.5% in the first 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 buying an additional 894,564 shares in the last quarter. Bartlett & CO. Wealth Management LLC increased its holdings in 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. First Bank & Trust raised its position in Broadcom by 17.2% during the second quarter. First Bank & Trust now owns 10,503 shares of the semiconductor manufacturer's stock worth $3,968,000 after acquiring an additional 1,545 shares during the last quarter. Fifth Lane Capital LP lifted its holdings in shares of Broadcom by 77.8% in the fourth quarter. Fifth Lane Capital LP now owns 4,000 shares of the semiconductor manufacturer's stock valued at $1,384,000 after purchasing an additional 1,750 shares in the last quarter. Finally, Wealthcare Capital Partners LLC grew its position in shares of Broadcom by 36.4% in the second quarter. Wealthcare Capital Partners LLC now owns 4,407 shares of the semiconductor manufacturer's stock valued at $1,665,000 after purchasing an additional 1,176 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.
Key Broadcom News
Here are the key news stories impacting Broadcom this week:
- Positive Sentiment: Rackspace Technology launched a fully managed multitenant cloud platform based on Broadcom’s VMware Cloud Foundation 9.1. The deployment provides early commercial validation for Broadcom’s VMware strategy and targets regulated customers running Kubernetes and AI workloads. Broadcom (AVGO) Debuts VMware Cloud Foundation 9.1 In Managed Multitenant Cloud
- Positive Sentiment: Analysts continue to view Broadcom as a major beneficiary of the shift from AI training toward inference and agentic workloads, supporting the long-term outlook for its custom silicon and networking businesses. Broadcom Vs. Micron: Why They're So Strong as Capital Shifts to Inference and Agentic AI
- Positive Sentiment: Historical analysis argues that the loss or reduction of a major customer’s chip program does not necessarily imply sustained weakness; Broadcom’s revenue grew substantially after a comparable Apple-related concern in 2023. Broadcom Has Seen Its Biggest Customer Drop a Key Chip Before
- Neutral Sentiment: Upcoming NVIDIA earnings and guidance could move Broadcom and other AI stocks, making NVIDIA’s results an important read-through for AI infrastructure demand. NVIDIA Earnings Could Move These 3 AI Stocks
- Neutral Sentiment: Reported short-interest data showed no measurable short position, but the figures appear incomplete or erroneous, limiting their usefulness as a trading signal.
- Negative Sentiment: Analysts expect continued gross-margin contraction in the upcoming third-quarter report, raising concerns that Broadcom’s rapid AI expansion could pressure profitability. Broadcom Q3 Earnings Preview
- Negative Sentiment: Reports that Broadcom is arranging roughly $60 billion of AI-related financing, potentially through structures that keep debt off its balance sheet, have increased investor concerns about leverage, credit-default-swap risk and the ultimate scale of AI deployment obligations. Broadcom’s $60 Billion AI Debt Deal
- Negative Sentiment: Broadcom is also facing broader semiconductor-sector selling ahead of NVIDIA’s report, while Marvell’s expanded custom-chip agreement with Google has intensified worries about customer concentration and competitive pressure. Broadcom Stock Drops Amid Rising Credit Default Swap Concerns
Broadcom Price Performance
Shares of NASDAQ AVGO opened at $356.74 on Wednesday. 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 Inc. has a fifty-two week low of $287.17 and a fifty-two week high of $495.00. The business has a 50 day moving average price of $387.47 and a two-hundred day moving average price of $375.72. The firm has a market cap of $1.70 trillion, a PE ratio of 59.46, a price-to-earnings-growth ratio of 0.68 and a beta of 1.45.
Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, beating the consensus estimate of $2.40 by $0.04. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The company had revenue of $22.19 billion during the quarter, compared to analysts' expectations of $22.13 billion. During the same period in the prior year, the business posted $1.58 EPS. The business's revenue was up 47.9% on a year-over-year basis. Sell-side analysts expect that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.
Broadcom Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were given a $0.65 dividend. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. Broadcom's payout ratio is presently 43.33%.
Insider Activity at Broadcom
In other news, Director Justine Page sold 1,602 shares of the stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $373.86, for a total transaction of $598,923.72. Following the transaction, the director owned 17,426 shares of the company's stock, valued at approximately $6,514,884.36. This trade represents a 8.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gayla J. Delly sold 1,890 shares of the business's stock in a transaction dated 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 sale, the director directly owned 31,326 shares of the company's stock, valued at approximately $12,072,413.88. This represents a 5.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 61,644 shares of company stock worth $24,016,214. Company insiders own 1.90% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on AVGO shares. Mizuho upped their target price on Broadcom from $480.00 to $530.00 and gave the company 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 stock an "overweight" rating in a research report on Thursday, June 4th. Rosenblatt Securities reissued a "buy" rating and set a $500.00 price objective on shares of Broadcom in a research note on Thursday, June 4th. DA Davidson increased their price target on Broadcom from $375.00 to $400.00 and gave the stock a "neutral" rating in a research note on Thursday, June 4th. Finally, Zacks Research cut shares of Broadcom from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 21st. Twenty-nine equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $491.97.
View Our Latest Stock Analysis on Broadcom
Broadcom Company Profile
(
Free Report)
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.
Further Reading
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.
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