Summitry LLC Has $6.18 Million Position 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 filing with the Securities and Exchange Commission. The firm 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 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Bank of America Corp DE grew its position in shares of Broadcom by 1.5% in the first 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 purchasing an additional 894,564 shares during the last quarter. Bartlett & CO. Wealth Management LLC lifted its holdings in Broadcom by 129.3% during the 1st 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 during the last quarter. First Bank & Trust boosted its stake in Broadcom by 17.2% in the 2nd 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 period. Fifth Lane Capital LP boosted its stake in Broadcom by 77.8% in the 4th 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 period. Finally, Wealthcare Capital Partners LLC grew its holdings in Broadcom by 36.4% in the 2nd quarter. Wealthcare Capital Partners LLC now owns 4,407 shares of the semiconductor manufacturer’s stock valued at $1,665,000 after buying an additional 1,176 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

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 Stock Performance

NASDAQ:AVGO opened at $393.05 on Friday. The stock has a fifty day moving average price of $389.79 and a 200-day moving average price of $373.30. The company has a market cap of $1.87 trillion, a price-to-earnings ratio of 65.51, a PEG ratio of 0.75 and a beta of 1.45. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24. Broadcom Inc. has a fifty-two week low of $281.87 and a fifty-two week high of $495.00.

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, topping the consensus estimate of $2.40 by $0.04. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.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 posted $1.58 EPS. Broadcom’s quarterly revenue was up 47.9% on a year-over-year basis. As a group, equities analysts anticipate that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Announces Dividend

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

Insider Activity

In other news, Director Harry L. You purchased 1,000 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was bought at an average price of $373.57 per share, with a total value of $373,570.00. Following the acquisition, the director owned 38,466 shares in the company, valued at approximately $14,369,743.62. The trade was a 2.67% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Gayla J. Delly sold 1,890 shares of the company’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $385.38, for a total transaction of $728,368.20. Following the sale, the director directly 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 position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 61,644 shares of company stock valued at $24,016,214. Corporate insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on AVGO shares. Wall Street Zen downgraded Broadcom from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 18th. Royal Bank Of Canada upped their price target on shares of Broadcom from $360.00 to $400.00 and gave the company a “sector perform” rating in a research note on Thursday, June 4th. DA Davidson raised their price target 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. Zacks Research cut shares of Broadcom from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. Finally, Truist Financial boosted their price objective on shares of Broadcom from $545.00 to $550.00 and gave the company a “buy” rating in a report on Thursday, June 4th. Twenty-eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $493.24.

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.