Summitry LLC Has $6.18 Million Holdings in Broadcom Inc. $AVGO

Summitry LLC lessened its holdings in Broadcom Inc. (NASDAQ:AVGO) by 16.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,363 shares of the semiconductor manufacturer’s stock after selling 3,196 shares during the period. Summitry LLC’s holdings in Broadcom were worth $6,181,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of AVGO. ROSS JOHNSON & Associates LLC boosted its stake in shares of Broadcom by 1,320.0% in the 4th quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 66 shares in the last quarter. Networth Advisors LLC increased its position in Broadcom by 546.2% during the 1st quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 71 shares in the last quarter. SWAN Capital LLC increased its position in Broadcom by 261.9% during the 4th quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 55 shares in the last quarter. Nvest Wealth Strategies Inc. bought a new position in Broadcom in the 4th quarter valued at approximately $33,000. Finally, Family CFO Inc bought a new position in Broadcom in the 4th quarter valued at approximately $35,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Dbs Bank upgraded shares of Broadcom to a “moderate buy” rating in a research report on Thursday, June 18th. UBS Group set a $485.00 price target on shares of Broadcom and gave the stock a “buy” rating in a report on Thursday, June 4th. Wall Street Zen cut Broadcom from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 18th. Cantor Fitzgerald reissued an “overweight” rating and set a $525.00 price objective on shares of Broadcom in a report on Thursday, June 4th. Finally, Oppenheimer restated an “outperform” rating and set a $535.00 price objective (up from $450.00) on shares of Broadcom in a research report on Thursday, June 4th. Twenty-eight investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and a consensus price target of $493.24.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s custom-silicon and XPU opportunity remains a key long-term catalyst. Analysts and commentators point to accelerating AI infrastructure spending, major customer agreements, and potential growth in custom chips and networking. Broadcom: XPU Growth Trajectory Underestimated, Stock A Bargain
• Positive Sentiment: Wall Street’s average price target implies substantial upside from recent trading levels, supporting the bullish view that the market may be underestimating Broadcom’s AI growth trajectory. Broadcom is Down Over 3 Months: One Wall Street Pro Sees 60%+ Gains Ahead
• Positive Sentiment: Continued institutional interest, including purchases by GAMCO Investors and Cathie Wood’s reported investment, provides some additional support for the stock’s long-term AI investment case. Cathie Wood buys $16.2 million of Broadcom

Broadcom Trading Down 5.9%

AVGO opened at $393.05 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01. Broadcom Inc. has a fifty-two week low of $281.87 and a fifty-two week high of $495.00. The company’s 50 day moving average price is $389.79 and its two-hundred day moving average price is $373.30. The firm has a market capitalization of $1.87 trillion, a price-to-earnings ratio of 65.51, a PEG ratio of 0.75 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.04. The firm had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The company’s revenue for the quarter was up 47.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.58 earnings per share. As a group, research analysts predict that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Dividend Announcement

The business 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 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Monday, June 22nd. Broadcom’s dividend payout ratio (DPR) is currently 43.33%.

Insider Buying and Selling

In other Broadcom news, Director Gayla J. Delly sold 1,890 shares of Broadcom stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $385.38, for a total transaction of $728,368.20. Following the transaction, the director directly owned 31,326 shares of the company’s stock, valued at approximately $12,072,413.88. The trade was a 5.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark David Brazeal sold 25,000 shares of the company’s stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $401.33, for a total value of $10,033,250.00. Following the completion of the sale, the insider owned 194,989 shares in the company, valued at $78,254,935.37. This trade represents a 11.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 61,644 shares of company stock valued at $24,016,214 in the last quarter. 1.90% of the stock is currently owned by company insiders.

Broadcom Company 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.