Broadcom Inc. $AVGO Shares Acquired by Sovran Advisors LLC

Sovran Advisors LLC increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 10.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,705 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,074 shares during the period. Broadcom makes up approximately 0.8% of Sovran Advisors LLC’s portfolio, making the stock its 24th largest position. Sovran Advisors LLC’s holdings in Broadcom were worth $10,432,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in AVGO. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of 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 purchasing an additional 9,624 shares during the period. Aspiriant LLC increased its holdings in shares of Broadcom by 18.5% in the 4th quarter. Aspiriant LLC now owns 12,016 shares of the semiconductor manufacturer’s stock valued at $4,158,000 after purchasing an additional 1,872 shares in the last quarter. World Investment Advisors lifted its stake in shares of Broadcom by 16.1% in the fourth quarter. World Investment Advisors now owns 177,710 shares of the semiconductor manufacturer’s stock valued at $61,505,000 after purchasing an additional 24,703 shares during the period. Western Financial Corp CA lifted its stake in shares of Broadcom by 90.5% in the fourth quarter. Western Financial Corp CA now owns 6,481 shares of the semiconductor manufacturer’s stock valued at $2,243,000 after purchasing an additional 3,079 shares during the period. Finally, Fifth Lane Capital LP boosted its holdings in Broadcom by 77.8% during the fourth quarter. Fifth Lane Capital LP now owns 4,000 shares of the semiconductor manufacturer’s stock worth $1,384,000 after buying an additional 1,750 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AVGO. Evercore restated an “outperform” rating and set a $582.00 target price on shares of Broadcom in a research report on Tuesday, May 19th. DA Davidson boosted 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. Morgan Stanley set a $502.00 price target on Broadcom and gave the stock an “overweight” rating in a research note on Thursday, June 4th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $500.00 price objective 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 company a “buy” rating in a research note on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Broadcom has an average rating of “Moderate Buy” and a consensus price target of $493.24.

Broadcom Trading Up 1.3%

Broadcom stock opened at $389.11 on Wednesday. The stock has a market cap of $1.85 trillion, a PE ratio of 64.85, a P/E/G ratio of 0.67 and a beta of 1.45. The stock has a 50-day moving average price of $403.86 and a 200 day moving average price of $364.80. Broadcom Inc. has a 52 week low of $273.00 and a 52 week high of $495.00. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71.

Broadcom (NASDAQ:AVGO) last released its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, beating 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 company had revenue of $22.19 billion for the quarter, compared to analyst estimates of $22.13 billion. During the same period in the prior year, the firm earned $1.58 EPS. The firm’s quarterly revenue was up 47.9% on a year-over-year basis. Equities research analysts predict that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Announces Dividend

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

Insider Activity

In other news, Director Harry L. You bought 1,000 shares of the stock in a transaction on Thursday, June 11th. The stock was purchased at an average cost of $373.57 per share, with a total value of $373,570.00. Following the purchase, the director owned 38,466 shares of the company’s stock, valued at approximately $14,369,743.62. The trade was a 2.67% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Gayla J. Delly sold 1,890 shares of the business’s stock in a transaction on 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 transaction, the director owned 31,326 shares of the company’s stock, valued at $12,072,413.88. This trade represents a 5.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 61,644 shares of company stock worth $24,016,214. 1.90% of the stock is currently owned by corporate insiders.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Evercore ISI said Broadcom’s multiyear agreement with Apple is strategically positive, as it strengthens Apple’s AI compute silicon efforts and extends Broadcom’s role as a key custom-chip partner. Broadcom Inc. (AVGO) Agreement a Strategic Positive for Apple, says Evercore ISI
• Positive Sentiment: Reports say Broadcom secured its role as a key Apple supplier through 2031, giving investors more confidence in a long-duration revenue stream. Broadcom Inc. (AVGO) Secures Role as Key Apple Supplier with Chip Deal through 2031
• Positive Sentiment: Morgan Stanley described Broadcom as a “core AI winner,” keeping the stock in focus as one of the main beneficiaries of AI infrastructure spending. Broadcom is a ‘core AI winner,’ even as MediaTek encroaches, Morgan Stanley says
• Neutral Sentiment: Additional commentary highlighted Broadcom as a major AI stock and a possible outperformer versus other chip names, which adds to the bullish narrative but does not change the near-term business outlook directly. Is Broadcom Inc. (AVGO) a Buy as Wall Street Analysts Look Optimistic?
• Negative Sentiment: There was also an insider-selling headline, which can weigh on sentiment even if it does not necessarily reflect a change in the company’s fundamentals. Insider Selling: Broadcom (NASDAQ:AVGO) Insider Sells $9,479,750.00 in Stock

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.