Welch & Forbes LLC Purchases 17,706 Shares of Broadcom Inc. $AVGO

Key Points

• Welch & Forbes LLC increased its Broadcom stake by 8.4% in the fourth quarter, buying 17,706 shares and bringing its total holding to 229,576 shares valued at about $79.5 million.
• Broadcom’s latest earnings were strong, with quarterly EPS of $2.44 and revenue of $22.19 billion, both slightly ahead of estimates; revenue also rose 47.9% year over year.
• AI demand remains a major driver for the stock, as Broadcom reported AI semiconductor revenue of $10.8 billion and gave upbeat guidance, while several analysts raised price targets even as some investors worried about valuation after the shares pulled back.

Welch & Forbes LLC lifted its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 8.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 229,576 shares of the semiconductor manufacturer's stock after buying an additional 17,706 shares during the quarter. Broadcom comprises approximately 1.0% of Welch & Forbes LLC's holdings, making the stock its 29th largest position. Welch & Forbes LLC's holdings in Broadcom were worth $79,456,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Baring Financial LLC raised its position in shares of Broadcom by 2.2% during the fourth quarter. Baring Financial LLC now owns 1,359 shares of the semiconductor manufacturer's stock valued at $470,000 after buying an additional 29 shares during the last quarter. Five Oceans Advisors lifted its holdings in Broadcom by 0.4% during the 4th quarter. Five Oceans Advisors now owns 8,191 shares of the semiconductor manufacturer's stock valued at $2,835,000 after purchasing an additional 29 shares during the last quarter. Private Wealth Partners LLC boosted its holdings in shares of Broadcom by 0.7% in the 3rd quarter. Private Wealth Partners LLC now owns 4,273 shares of the semiconductor manufacturer's stock worth $1,410,000 after acquiring an additional 30 shares in the last quarter. Planning Alternatives Ltd. ADV raised its position in Broadcom by 1.4% in the 3rd quarter. Planning Alternatives Ltd. ADV now owns 2,168 shares of the semiconductor manufacturer's stock valued at $715,000 after purchasing an additional 30 shares during the last quarter. Finally, Bell Investment Advisors Inc boosted its stake in Broadcom by 1.9% in the third quarter. Bell Investment Advisors Inc now owns 1,638 shares of the semiconductor manufacturer's stock worth $540,000 after purchasing an additional 30 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Deutsche Bank raised its price target on Broadcom to $515 from $430 and kept a Buy rating, signaling continued confidence after the earnings beat. Analysts set Broadcom stock price target
• Positive Sentiment: Broadcom said AI semiconductor revenue surged to $10.8 billion, up sharply year over year, and management highlighted accelerating AI demand and stronger expectations into 2027. Broadcom Q2 Earnings Call Spotlights AI Demand Surge
• Positive Sentiment: Revenue for the quarter reached a record $22.19 billion, EPS came in above estimates at $2.44, and the company also announced a quarterly dividend of $0.65 per share. Broadcom Inc. Announces Second Quarter Fiscal Year 2026 Financial Results and Quarterly Dividend
• Neutral Sentiment: Broadcom’s third-quarter revenue guidance of about $29.4 billion was above consensus, but investors are still waiting for EPS details and more clarity on how much of the AI growth can persist. Broadcom Inc. Announces Second Quarter Fiscal Year 2026 Financial Results and Quarterly Dividend
• Negative Sentiment: The stock dropped because quarterly revenue came in below Wall Street’s most aggressive expectations, raising concern that the market had priced in an even stronger AI boom. Broadcom tumbles as revenue miss clouds AI boom bets
• Negative Sentiment: Several reports said shares sold off in after-hours and premarket trading after the earnings release, as investors questioned whether the AI growth story was enough to justify the stock’s premium valuation. Broadcom revenue hits record on AI chip surge but outlook disappoints

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on AVGO shares. Citigroup reissued a "buy" rating and issued a $500.00 price target (up from $475.00) on shares of Broadcom in a report on Tuesday, May 12th. Macquarie Infrastructure downgraded Broadcom from an "outperform" rating to a "neutral" rating in a report on Thursday. Mizuho reiterated an "outperform" rating and issued a $480.00 price objective on shares of Broadcom in a research report on Thursday, April 16th. Susquehanna restated a "positive" rating and set a $490.00 target price (up from $450.00) on shares of Broadcom in a research report on Thursday, May 28th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $500.00 price target on shares of Broadcom in a research note on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $461.07.

Broadcom Stock Down 0.5%

NASDAQ:AVGO opened at $479.23 on Thursday. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.80. Broadcom Inc. has a 12-month low of $241.11 and a 12-month high of $495.00. The stock's fifty day simple moving average is $392.87 and its 200-day simple moving average is $361.19. The firm has a market capitalization of $2.27 trillion, a P/E ratio of 93.60, a P/E/G ratio of 0.99 and a beta of 1.41.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data 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 business had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $22.13 billion. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The firm's revenue was up 47.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.58 earnings per share. Equities research analysts expect that Broadcom Inc. will post 9.91 earnings per share for the current year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd will be issued a dividend of $0.65 per share. The ex-dividend date is Monday, June 22nd. This represents a $2.60 annualized dividend and a yield of 0.5%. Broadcom's payout ratio is currently 50.78%.

Insiders Place Their Bets

In other news, insider S. Ram Velaga sold 38,841 shares of the company's stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total value of $12,491,265.60. Following the completion of the transaction, the insider owned 96,147 shares in the company, valued at $30,920,875.20. This represents a 28.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Charlie B. Kawwas sold 39,116 shares of the stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $321.61, for a total transaction of $12,580,096.76. Following the sale, the insider directly owned 74,626 shares of the company's stock, valued at $24,000,467.86. This represents a 34.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 324,282 shares of company stock valued at $106,425,249 over the last 90 days. 1.90% of the stock is owned by company insiders.

About Broadcom

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.

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.