Resonant Capital Advisors LLC Raises Stock Position in Broadcom Inc. $AVGO

Resonant Capital Advisors LLC boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 4.8% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 35,454 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,633 shares during the period. Resonant Capital Advisors LLC’s holdings in Broadcom were worth $10,973,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AVGO. Brown Brothers Harriman & Co. raised its stake in Broadcom by 10.7% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 77,411 shares of the semiconductor manufacturer’s stock valued at $25,539,000 after purchasing an additional 7,499 shares during the last quarter. Sovran Advisors LLC lifted its holdings in Broadcom by 121.3% in the 4th quarter. Sovran Advisors LLC now owns 30,631 shares of the semiconductor manufacturer’s stock valued at $10,507,000 after purchasing an additional 16,789 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in 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 last quarter. Aspiriant LLC boosted its stake in Broadcom by 18.5% during the 4th quarter. Aspiriant LLC now owns 12,016 shares of the semiconductor manufacturer’s stock worth $4,158,000 after purchasing an additional 1,872 shares during the last quarter. Finally, World Investment Advisors grew its holdings in shares of Broadcom by 16.1% during the fourth quarter. World Investment Advisors now owns 177,710 shares of the semiconductor manufacturer’s stock worth $61,505,000 after buying an additional 24,703 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Justine Page sold 1,602 shares of Broadcom stock in a transaction that occurred 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 sale, the director owned 17,426 shares of the company’s stock, valued at approximately $6,514,884.36. The trade was a 8.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Harry L. You acquired 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was acquired at an average price of $373.57 per share, for a total transaction of $373,570.00. Following the completion of the acquisition, the director directly owned 38,466 shares of the company’s stock, valued at $14,369,743.62. The trade was a 2.67% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders sold 36,644 shares of company stock worth $13,982,964. Corporate insiders own 1.90% of the company’s stock.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s expanded Apple agreement, valued at more than $30 billion through 2031, strengthens visibility for revenue and highlights demand beyond AI chips. Why Broadcom Stock Rose Today
• Positive Sentiment: Analysts remain upbeat on Broadcom’s AI business, with Jefferies reiterating a Buy rating and a $550 price target as AI chip momentum improves. Broadcom’s (AVGO) AI Chip Momentum Keeps Wall Street Bullish
• Positive Sentiment: Broadcom is being viewed as a broader AI infrastructure winner because its networking products help connect large-scale AI systems, expanding the investment thesis beyond GPUs and custom chips. Broadcom stock’s latest catalyst targets Nvidia where it looks strongest
• Neutral Sentiment: Some coverage notes Broadcom’s near-$2 trillion market value and strong AI revenue growth, but also suggests much of the good news may already be reflected in the stock. Broadcom Is Less Than 5% From the $2 Trillion Club — and Apple Just Committed $30 Billion for More Chips
• Negative Sentiment: Erste Group downgraded Broadcom to Hold, citing valuation concerns, which may be limiting upside after the recent rally. Erste Group downgrades Broadcom to Hold citing valuation concerns

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Weiss Ratings cut shares of Broadcom from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, June 26th. Wells Fargo & Company restated an “overweight” rating and set a $545.00 price target (up from $430.00) on shares of Broadcom in a research report on Thursday, May 14th. Zacks Research cut shares of Broadcom from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. The Goldman Sachs Group reiterated a “buy” rating and issued a $525.00 price objective on shares of Broadcom in a report on Thursday, June 4th. Finally, Oppenheimer reissued an “outperform” rating and issued a $535.00 target price (up from $450.00) on shares of Broadcom in a research note on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $493.24.

Broadcom Trading Down 0.3%

Shares of NASDAQ AVGO traded down $1.14 during trading on Friday, hitting $399.97. 14,579,242 shares of the company were exchanged, compared to its average volume of 26,802,910. Broadcom Inc. has a 12-month low of $269.58 and a 12-month high of $495.00. 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 company has a fifty day moving average price of $405.29 and a 200-day moving average price of $364.13. The firm has a market capitalization of $1.90 trillion, a PE ratio of 66.66, a P/E/G ratio of 0.70 and a beta of 1.45.

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 the consensus estimate of $2.40 by $0.04. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The firm had revenue of $22.19 billion for the quarter, compared to analysts’ expectations of $22.13 billion. During the same quarter in the previous year, the company posted $1.58 EPS. The company’s revenue was up 47.9% compared to the same quarter last year. As a group, equities research analysts expect that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Dividend Announcement

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. This represents a $2.60 annualized dividend and a yield of 0.7%. The ex-dividend date was Monday, June 22nd. Broadcom’s payout ratio is presently 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.