Hamilton Capital Partners LLC Sells 2,582 Shares of Broadcom Inc. $AVGO

Hamilton Capital Partners LLC trimmed its stake in Broadcom Inc. (NASDAQ:AVGO) by 4.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 61,003 shares of the semiconductor manufacturer’s stock after selling 2,582 shares during the period. Broadcom comprises about 6.7% of Hamilton Capital Partners LLC’s investment portfolio, making the stock its 6th largest position. Hamilton Capital Partners LLC’s holdings in Broadcom were worth $23,044,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Bank of America Corp DE increased its position in Broadcom by 1.5% in the 1st quarter. Bank of America Corp DE now owns 58,737,097 shares of the semiconductor manufacturer’s stock valued at $18,179,719,000 after acquiring an additional 894,564 shares in the last quarter. Bartlett & CO. Wealth Management LLC lifted its position in shares of Broadcom by 129.3% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 110,048 shares of the semiconductor manufacturer’s stock worth $34,061,000 after purchasing an additional 62,050 shares in the last quarter. First Bank & Trust grew its stake in shares of Broadcom by 17.2% during the second quarter. First Bank & Trust now owns 10,503 shares of the semiconductor manufacturer’s stock valued at $3,968,000 after purchasing an additional 1,545 shares during the last quarter. Fifth Lane Capital LP grew its stake in shares of Broadcom by 77.8% during the fourth quarter. Fifth Lane Capital LP now owns 4,000 shares of the semiconductor manufacturer’s stock valued at $1,384,000 after purchasing an additional 1,750 shares during the last quarter. Finally, Wealthcare Capital Partners LLC increased its holdings in shares of Broadcom by 36.4% in the second quarter. Wealthcare Capital Partners LLC now owns 4,407 shares of the semiconductor manufacturer’s stock valued at $1,665,000 after purchasing an additional 1,176 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Price Performance

Broadcom stock opened at $393.05 on Friday. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $1.87 trillion, a P/E ratio of 65.51, a PEG ratio of 0.80 and a beta of 1.45. The business has a 50-day moving average of $389.79 and a 200-day moving average of $373.30. Broadcom Inc. has a 1 year low of $281.87 and a 1 year high of $495.00.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share 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 business had revenue of $22.19 billion for the quarter, compared to the consensus estimate of $22.13 billion. During the same period last year, the company posted $1.58 EPS. Broadcom’s revenue for the quarter was up 47.9% on a year-over-year basis. On average, equities analysts anticipate that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd were issued a $0.65 dividend. The ex-dividend date was Monday, June 22nd. This represents a $2.60 annualized dividend and a yield of 0.7%. Broadcom’s dividend payout ratio (DPR) is 43.33%.

Analysts Set New Price Targets

Several research firms recently weighed in on AVGO. DA Davidson boosted their price objective on shares of Broadcom from $375.00 to $400.00 and gave the stock a “neutral” rating in a research report on Thursday, June 4th. The Goldman Sachs Group reiterated a “buy” rating on shares of Broadcom in a research report on Monday, August 3rd. TD Cowen restated a “buy” rating and set a $500.00 target price on shares of Broadcom in a research report on Thursday, June 4th. Royal Bank Of Canada upped their target price on shares of Broadcom from $360.00 to $400.00 and gave the company a “sector perform” rating in a research report on Thursday, June 4th. Finally, UBS Group set a $485.00 price target on shares of Broadcom and gave the stock a “buy” rating 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $493.24.

Broadcom News Roundup

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

Insider Activity

In other news, Director Justine Page sold 1,602 shares of Broadcom stock in a transaction on Monday, June 29th. The shares were sold at an average price of $373.86, for a total transaction of $598,923.72. Following the transaction, the director directly owned 17,426 shares of the company’s stock, valued at $6,514,884.36. This trade represents a 8.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 transaction of $728,368.20. Following the completion of the transaction, the director directly owned 31,326 shares of the company’s stock, valued at $12,072,413.88. This trade represents a 5.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 61,644 shares of company stock valued at $24,016,214. 1.90% of the stock is currently owned by company insiders.

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.