Sky Investment Group LLC Acquires 7,046 Shares of Broadcom Inc. $AVGO

Sky Investment Group LLC lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 59.6% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,871 shares of the semiconductor manufacturer’s stock after buying an additional 7,046 shares during the period. Sky Investment Group LLC’s holdings in Broadcom were worth $7,128,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Fullerton Advisors LLC grew its position in Broadcom by 1.3% in the first quarter. Fullerton Advisors LLC now owns 1,989 shares of the semiconductor manufacturer’s stock valued at $616,000 after acquiring an additional 25 shares during the last quarter. NORTHSTAR ASSET MANAGEMENT Co lifted its holdings in shares of Broadcom by 0.5% in the first quarter. NORTHSTAR ASSET MANAGEMENT Co now owns 5,350 shares of the semiconductor manufacturer’s stock worth $1,656,000 after acquiring an additional 25 shares during the last quarter. RFG Holdings Inc. lifted its holdings in shares of Broadcom by 0.3% in the first quarter. RFG Holdings Inc. now owns 8,499 shares of the semiconductor manufacturer’s stock worth $2,631,000 after acquiring an additional 26 shares during the last quarter. Yukon Wealth Management Inc. boosted its stake in shares of Broadcom by 1.1% in the 1st quarter. Yukon Wealth Management Inc. now owns 2,501 shares of the semiconductor manufacturer’s stock valued at $774,000 after purchasing an additional 26 shares in the last quarter. Finally, NerdWallet Wealth Partners LLC boosted its stake in shares of Broadcom by 2.6% in the 2nd quarter. NerdWallet Wealth Partners LLC now owns 1,057 shares of the semiconductor manufacturer’s stock valued at $399,000 after purchasing an additional 27 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on AVGO shares. Royal Bank Of Canada lifted their price target on shares of Broadcom from $360.00 to $400.00 and gave the company a “sector perform” rating in a report on Thursday, June 4th. DA Davidson increased their price objective on shares of Broadcom from $375.00 to $400.00 and gave the company a “neutral” rating in a research note on Thursday, June 4th. Oppenheimer restated an “outperform” rating and issued a $535.00 target price (up from $450.00) on shares of Broadcom in a research report on Thursday, June 4th. UBS Group set a $485.00 target price on shares of Broadcom and gave the stock a “buy” rating in a research note on Thursday, June 4th. Finally, Weiss Ratings downgraded shares of Broadcom from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, July 30th. Twenty-eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and a consensus target price of $493.24.

Insider Buying and Selling at Broadcom

In other news, Director Gayla J. Delly sold 1,890 shares of the firm’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 owned 31,326 shares of the company’s stock, valued at approximately $12,072,413.88. This trade represents a 5.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 25,000 shares of Broadcom stock in a transaction on Friday, July 10th. The stock was sold at an average price of $401.33, for a total transaction of $10,033,250.00. Following the transaction, the insider owned 194,989 shares in the company, valued at approximately $78,254,935.37. This trade represents a 11.36% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 61,644 shares of company stock valued at $24,016,214. Insiders own 1.90% of the company’s stock.

Key Broadcom News

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 Stock Performance

NASDAQ:AVGO opened at $393.05 on Friday. The stock’s 50-day moving average is $389.79 and its 200-day moving average is $373.30. Broadcom Inc. has a 1-year low of $281.87 and a 1-year 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. The stock has a market cap of $1.87 trillion, a P/E ratio of 65.51, a price-to-earnings-growth ratio of 0.80 and a beta of 1.45.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data 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 business had revenue of $22.19 billion during the quarter, compared to analyst estimates of $22.13 billion. During the same quarter last year, the business earned $1.58 EPS. The firm’s quarterly revenue was up 47.9% on a year-over-year basis. Equities research analysts anticipate that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Dividend Announcement

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

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.