Chase Investment Counsel Corp Makes New $8.85 Million Investment in Broadcom Inc. $AVGO

Chase Investment Counsel Corp purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the second quarter, Holdings Channel reports. The institutional investor purchased 23,421 shares of the semiconductor manufacturer’s stock, valued at approximately $8,847,000. Broadcom makes up approximately 1.9% of Chase Investment Counsel Corp’s portfolio, making the stock its 20th biggest position.

Several other institutional investors have also recently made changes to their positions in AVGO. Norges Bank bought a new position in Broadcom during the 4th quarter worth about $24,252,196,000. Bank of New York Mellon Corp purchased a new stake in shares of Broadcom in the 2nd quarter worth approximately $10,528,191,000. Cardano Risk Management B.V. lifted its position in shares of Broadcom by 895.2% in the 4th quarter. Cardano Risk Management B.V. now owns 12,689,800 shares of the semiconductor manufacturer’s stock worth $4,391,940,000 after purchasing an additional 11,414,701 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Broadcom by 118.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 18,739,006 shares of the semiconductor manufacturer’s stock valued at $5,799,889,000 after purchasing an additional 10,145,377 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Broadcom by 2.7% during the fourth quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer’s stock valued at $65,788,194,000 after purchasing an additional 5,040,801 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling

In related news, insider Mark David Brazeal sold 25,000 shares of the stock in a transaction on Friday, July 10th. The shares were sold at an average price of $401.33, for a total transaction of $10,033,250.00. Following the sale, the insider directly owned 194,989 shares of the company’s stock, valued at approximately $78,254,935.37. This represents a 11.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Justine Page sold 1,602 shares of the firm’s 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 sale, the director owned 17,426 shares in the company, valued at approximately $6,514,884.36. This represents a 8.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 61,644 shares of company stock worth $24,016,214. Corporate insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on AVGO. Erste Group Bank reissued a “hold” rating on shares of Broadcom in a research note on Tuesday, July 7th. JPMorgan Chase & Co. lifted their price target on Broadcom from $500.00 to $580.00 and gave the company an “overweight” rating in a report on Thursday, June 4th. Benchmark boosted their price target on Broadcom from $485.00 to $545.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. DA Davidson upped their price objective on Broadcom from $375.00 to $400.00 and gave the stock a “neutral” rating in a research note on Thursday, June 4th. Finally, Oppenheimer reaffirmed 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-nine analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and a consensus price target of $491.97.

Broadcom Stock Performance

Shares of AVGO stock opened at $355.59 on Thursday. The business has a fifty day moving average of $386.72 and a 200 day moving average of $376.03. The firm has a market capitalization of $1.69 trillion, a price-to-earnings ratio of 59.27, a price-to-earnings-growth ratio of 0.68 and a beta of 1.45. Broadcom Inc. has a 1 year low of $287.17 and a 1 year high of $495.00. 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 (NASDAQ:AVGO) last posted its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, topping 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 company had revenue of $22.19 billion during the quarter, compared to analyst estimates of $22.13 billion. During the same period last year, the firm posted $1.58 EPS. Broadcom’s revenue for the quarter was up 47.9% compared to the same quarter last year. As a group, research analysts expect that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Announces Dividend

The business 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. The ex-dividend date was Monday, June 22nd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.7%. Broadcom’s dividend payout ratio (DPR) is presently 43.33%.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Analyst support remains strong: BMO initiated coverage with an Outperform rating and a $455 price target, while RBC reaffirmed its Sector Perform rating with a $400 target—both implying potential upside from the recently reported trading level. BMO starts Broadcom at Outperform with $455 target
• Positive Sentiment: AI infrastructure demand remains the core bullish thesis: Broadcom is positioned to benefit from custom AI accelerators, networking equipment, and the shift toward inference and agentic AI workloads. Commentary also suggests a potential “next $100 billion” AI business opportunity if hyperscaler demand continues. Broadcom’s next $100 billion AI business is taking shape
• Positive Sentiment: VMware commercial traction is encouraging: Rackspace launched a managed multitenant cloud based on Broadcom’s VMware Cloud Foundation 9.1, supporting regulated workloads, Kubernetes, and AI applications. Broadcom debuts VMware Cloud Foundation 9.1
• Neutral Sentiment: Earnings are the near-term catalyst: Investors are awaiting Broadcom’s results and guidance for evidence that AI demand, custom-chip growth, and VMware integration can offset rising expectations. Its prior quarter showed 47.9% year-over-year revenue growth and earnings above consensus.
• Negative Sentiment: Customer concentration is a key risk: Analysts caution that dependence on a small number of large hyperscale customers could make revenue vulnerable to spending changes, in-house chip development, or order delays. Broadcom’s real risk is its customer list
• Negative Sentiment: Valuation and financial concerns are weighing on sentiment: Broadcom’s premium multiple, potential margin contraction, vendor-financing expansion, and reports of increased credit-default-swap concerns have raised questions about execution and balance-sheet risk. Broadcom Q3 earnings preview

About Broadcom

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.