21,395 Shares in Broadcom Inc. $AVGO Purchased by Summit Global Investments

Summit Global Investments purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the second quarter, HoldingsChannel reports. The firm purchased 21,395 shares of the semiconductor manufacturer’s stock, valued at approximately $8,082,000. Broadcom makes up about 0.4% of Summit Global Investments’ portfolio, making the stock its 22nd biggest holding.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Broadcom during the 4th quarter worth approximately $24,252,196,000. Cardano Risk Management B.V. raised its stake in Broadcom by 895.2% in the 4th quarter. Cardano Risk Management B.V. now owns 12,689,800 shares of the semiconductor manufacturer’s stock valued at $4,391,940,000 after acquiring an additional 11,414,701 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in Broadcom by 118.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 18,739,006 shares of the semiconductor manufacturer’s stock valued at $5,799,889,000 after purchasing an additional 10,145,377 shares during the last quarter. State Street Corp lifted its holdings in Broadcom by 2.7% during the 4th quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer’s stock valued at $65,788,194,000 after purchasing an additional 5,040,801 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Broadcom by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer’s stock worth $167,064,997,000 after purchasing an additional 3,919,715 shares during the period. Institutional investors own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on AVGO shares. UBS Group set a $485.00 price objective on shares of Broadcom and gave the company a “buy” rating in a research report on Thursday, June 4th. Erste Group Bank reaffirmed a “hold” rating on shares of Broadcom in a report on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $515.00 price target (up from $430.00) on shares of Broadcom in a report on Thursday, June 4th. Jefferies Financial Group set a $550.00 price objective on shares of Broadcom and gave the stock a “buy” rating in a research report on Thursday, June 4th. Finally, Morgan Stanley set a $502.00 price objective on Broadcom and gave the stock an “overweight” rating in a report on Thursday, June 4th. Twenty-nine investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $491.97.

Insider Buying and Selling at Broadcom

In related news, Director Justine Page sold 1,602 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $373.86, for a total value 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. The trade was a 8.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Mark David Brazeal sold 25,000 shares of the stock in a transaction that occurred 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 in the company, valued at $78,254,935.37. This represents a 11.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 61,644 shares of company stock valued at $24,016,214 over the last ninety days. Company insiders own 1.90% of the company’s stock.

Broadcom Trading Down 2.6%

Shares of Broadcom stock opened at $358.76 on Tuesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24. The firm has a 50-day moving average of $387.86 and a 200-day moving average of $375.37. Broadcom Inc. has a 52-week low of $287.17 and a 52-week high of $495.00. The stock has a market cap of $1.71 trillion, a PE ratio of 59.79, a PEG ratio of 0.70 and a beta of 1.45.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, topping analysts’ consensus estimates of $2.40 by $0.04. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The business had revenue of $22.19 billion for the quarter, compared to analyst estimates of $22.13 billion. During the same period last year, the firm earned $1.58 earnings per share. Broadcom’s revenue for the quarter was up 47.9% compared to the same quarter last year. As a group, sell-side analysts forecast 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. Stockholders of record on Monday, June 22nd were issued a dividend of $0.65 per share. 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 dividend payout ratio (DPR) is currently 43.33%.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s prior experience losing a major customer offers some reassurance: after Apple reportedly planned to drop a key chip in 2023, Broadcom’s revenue nearly doubled over the following two fiscal years. This history may temper concerns that the company’s business would deteriorate quickly if a hyperscaler develops more of its own silicon. Broadcom Has Seen Its Biggest Customer Drop a Key Chip Before. History Says What the Stock Did Next.
• Neutral Sentiment: Broadcom and Marvell remain major suppliers in the custom AI-chip market, with demand from hyperscalers supporting the long-term opportunity. However, investors are focused on which company can deliver better performance at lower cost. Broadcom vs. Marvell Technology: 1 Critical Metric Decides the Better Custom AI Chip Stock
• Negative Sentiment: Broadcom’s planned roughly $60 billion AI financing arrangement is raising balance-sheet and credit concerns. Critics argue that funding customer deployments through structures that keep debt off Broadcom’s books could still leave the company exposed to customer concentration, repayment and demand risks. AVGO stock slips nearly 3% — Broadcom’s AI spending is pushing credit risks higher
• Negative Sentiment: Analysts and commentators question whether Broadcom can achieve its ambitious $100 billion AI-revenue target, particularly as the stock’s valuation leaves less room for execution mistakes. Broadcom: $100 Billion In AI Revenue Is A Lot To Ask
• Negative Sentiment: Marvell’s expanded custom-chip agreement with Google has intensified fears that Broadcom could lose share or pricing power in the hyperscaler market. The competitive threat has contributed to a decline in AVGO shares and increased scrutiny of upcoming AI guidance. Marvell Takes a Shot at Broadcom’s Throne With Google Deal
• Negative Sentiment: Semiconductor stocks broadly sold off ahead of NVIDIA’s results, with chip ETFs and peers such as Intel, AMD and Taiwan Semiconductor also weakening. This sector-wide de-risking is adding to AVGO-specific selling pressure. Semiconductor Stocks Slide Ahead of NVIDIA Earnings

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.