Renaissance Technologies LLC Increases Stock Position in Broadcom Inc. $AVGO

Renaissance Technologies LLC grew its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 89,191.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 793,797 shares of the semiconductor manufacturer's stock after purchasing an additional 792,908 shares during the quarter. Broadcom makes up approximately 0.4% of Renaissance Technologies LLC's portfolio, making the stock its 29th largest holding. Renaissance Technologies LLC's holdings in Broadcom were worth $245,685,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of AVGO. Fullerton Advisors LLC lifted its position in shares of Broadcom by 1.3% in the first quarter. Fullerton Advisors LLC now owns 1,989 shares of the semiconductor manufacturer's stock valued at $616,000 after acquiring an additional 25 shares in the last quarter. NORTHSTAR ASSET MANAGEMENT Co raised its stake in Broadcom by 0.5% in the 1st quarter. NORTHSTAR ASSET MANAGEMENT Co now owns 5,350 shares of the semiconductor manufacturer's stock valued at $1,656,000 after purchasing an additional 25 shares during the last quarter. RFG Holdings Inc. lifted its holdings in Broadcom by 0.3% in the 1st quarter. RFG Holdings Inc. now owns 8,499 shares of the semiconductor manufacturer's stock valued at $2,631,000 after purchasing an additional 26 shares in the last quarter. Yukon Wealth Management Inc. boosted its stake in shares of Broadcom by 1.1% during the 1st quarter. Yukon Wealth Management Inc. now owns 2,501 shares of the semiconductor manufacturer's stock worth $774,000 after purchasing an additional 26 shares during the last quarter. Finally, Capital Planning LLC boosted its stake in shares of Broadcom by 0.7% during the 1st quarter. Capital Planning LLC now owns 4,044 shares of the semiconductor manufacturer's stock worth $1,252,000 after purchasing an additional 28 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Alphabet’s increased AI spending is a major catalyst. Alphabet reportedly plans $195 billion to $205 billion in capital expenditures, while its cloud business posted strong growth. Because Broadcom supplies Alphabet with custom AI processors and related infrastructure, the spending outlook points to potentially higher demand for Broadcom’s technology. Broadcom May Be the Biggest Winner From Alphabet's Earnings
• Positive Sentiment: Custom-silicon demand and new customer wins are strengthening the growth story. Investor commentary highlighted Broadcom’s momentum in custom AI chips, with demand from large technology companies helping drive expectations for continued expansion. Broadcom Rose on Strong Custom Silicon Demand and New Client Wins
• Positive Sentiment: Broadcom is viewed as a key beneficiary of data-center infrastructure spending. Analysts and financial writers point to its AI networking, custom accelerators and semiconductor infrastructure products as ways to participate in AI growth beyond the dominant GPU market. 3 Top AI Stocks to Buy Now With Data Center Infrastructure Spending Set to Surge
• Neutral Sentiment: Broadcom’s expanded Samsung relationship may improve supply visibility. J.P. Morgan said Samsung is expected to provide most of Broadcom’s memory needs through 2030, supporting execution but also increasing reliance on a major supplier. Broadcom's Expanded Samsung Pact Shows AI Trade Is Still All About Memory
• Negative Sentiment: High valuation and AI capital-spending concerns remain the principal risks. With a lofty earnings multiple and the stock below its 50-day average, investors may be sensitive to any evidence that hyperscalers are slowing or reassessing AI investment. Recent coverage frames potential capex fears as a buying opportunity, but the risk could still create volatility. Broadcom's The Perfect Buy as Capex Fears Materialize

Broadcom Price Performance

AVGO opened at $383.22 on Tuesday. Broadcom Inc. has a 1 year low of $281.61 and a 1 year high of $495.00. The company's 50 day simple moving average is $396.67 and its 200 day simple moving average is $367.13. The stock has a market capitalization of $1.82 trillion, a PE ratio of 63.87, a P/E/G ratio of 0.73 and a beta of 1.45. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.04. The business 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 quarterly revenue was up 47.9% on a year-over-year basis. During the same period last year, the company posted $1.58 EPS. As a group, sell-side analysts expect that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Dividend Announcement

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

Insider Buying and Selling at Broadcom

In other news, Director Justine Page sold 1,602 shares of the 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 completion of the sale, the director owned 17,426 shares of the company's stock, valued at $6,514,884.36. This represents a 8.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark David Brazeal sold 25,000 shares of the stock in a transaction on Friday, July 10th. The stock was sold at an average price of $401.33, for a total transaction of $10,033,250.00. Following the completion of the sale, the insider directly owned 194,989 shares of the company's stock, valued at $78,254,935.37. The trade was a 11.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 61,644 shares of company stock worth $24,016,214. 1.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Citigroup reissued a "buy" rating on shares of Broadcom in a research report on Thursday, June 4th. Susquehanna reaffirmed a "positive" rating and issued a $490.00 target price (up from $450.00) on shares of Broadcom in a research note on Thursday, May 28th. Morgan Stanley set a $502.00 price target on Broadcom and gave the company an "overweight" rating in a report on Thursday, June 4th. Rosenblatt Securities reissued a "buy" rating and set a $500.00 price target on shares of Broadcom in a research note on Thursday, June 4th. Finally, UBS Group set a $485.00 price objective on Broadcom and gave the stock a "buy" rating in a report on Thursday, June 4th. Twenty-eight research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $493.24.

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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