Sunpointe LLC Reduces Stake in Broadcom Inc. $AVGO

Sunpointe LLC cut its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 12.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,472 shares of the semiconductor manufacturer’s stock after selling 2,876 shares during the period. Broadcom makes up approximately 2.2% of Sunpointe LLC’s holdings, making the stock its 9th biggest position. Sunpointe LLC’s holdings in Broadcom were worth $7,733,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Fullerton Advisors LLC boosted its holdings in shares of Broadcom by 1.3% in the first quarter. Fullerton Advisors LLC now owns 1,989 shares of the semiconductor manufacturer’s stock worth $616,000 after buying an additional 25 shares during the period. NORTHSTAR ASSET MANAGEMENT Co grew its stake in Broadcom by 0.5% in the first quarter. NORTHSTAR ASSET MANAGEMENT Co now owns 5,350 shares of the semiconductor manufacturer’s stock valued at $1,656,000 after purchasing an additional 25 shares in the last quarter. RFG Holdings Inc. increased its holdings in 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 buying an additional 26 shares during the last quarter. Yukon Wealth Management Inc. increased its stake in shares of Broadcom by 1.1% during the 1st quarter. Yukon Wealth Management Inc. now owns 2,501 shares of the semiconductor manufacturer’s stock worth $774,000 after purchasing an additional 26 shares during the last quarter. Finally, NerdWallet Wealth Partners LLC increased its position in Broadcom by 2.6% during the second quarter. NerdWallet Wealth Partners LLC now owns 1,057 shares of the semiconductor manufacturer’s stock worth $399,000 after buying an additional 27 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. 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 research report on Thursday, June 4th. Evercore reiterated an “outperform” rating and issued a $582.00 price objective on shares of Broadcom in a research report on Tuesday, May 19th. Mizuho raised their price objective on shares of Broadcom from $480.00 to $530.00 and gave the stock an “outperform” rating in a report on Thursday, June 4th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $545.00 price target (up from $430.00) on shares of Broadcom in a research note on Thursday, May 14th. Finally, KeyCorp restated an “overweight” rating and issued a $575.00 price target (up from $500.00) on shares of Broadcom in a research report on Thursday, June 4th. Twenty-nine research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $491.97.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $368.45 on Monday. The company has a 50 day moving average of $388.57 and a 200-day moving average of $375.10. 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 Inc. has a one year low of $287.17 and a one year high of $495.00. The stock has a market cap of $1.75 trillion, a price-to-earnings ratio of 61.41, a P/E/G ratio of 0.70 and a beta of 1.45.

Broadcom (NASDAQ:AVGO) last posted 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 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 the consensus estimate of $22.13 billion. During the same quarter in the prior year, the business posted $1.58 EPS. The firm’s quarterly revenue was up 47.9% on a year-over-year basis. On average, sell-side analysts forecast that Broadcom Inc. will post 10.24 earnings per share 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 paid a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Monday, June 22nd. Broadcom’s dividend payout ratio is presently 43.33%.

Insiders Place Their Bets

In related news, insider Mark David Brazeal sold 25,000 shares of the firm’s 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 sale, the insider owned 194,989 shares of the company’s stock, valued at approximately $78,254,935.37. This trade represents a 11.36% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Harry L. You purchased 1,000 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were acquired at an average cost of $373.57 per share, for a total transaction of $373,570.00. Following the transaction, the director owned 38,466 shares of the company’s stock, valued at $14,369,743.62. This trade represents a 2.67% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders sold 61,644 shares of company stock worth $24,016,214. 1.90% of the stock is owned by corporate insiders.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: AI financing deal could expand Broadcom’s growth opportunity: Broadcom is reportedly discussing $70 billion to $80 billion of debt financing—potentially approaching $100 billion—to provide AI chips to Anthropic and other companies. The arrangement could support substantial future chip demand, although the financing remains under discussion. Broadcom debt deal expected to reach upwards of $70 billion
• Positive Sentiment: Analysts remain constructive: BMO initiated coverage with an “outperform” rating and a $455 price target, implying meaningful upside from recent levels. Other recent commentary also argues that Broadcom’s AI cycle and long-term custom-chip position could support further gains. Broadcom Stock Picks Up Another Lofty Bull Note
• Positive Sentiment: Strong AI demand underpins the bullish case: Reports cite approximately $30 billion in quarterly AI bookings and management’s goal of exceeding $100 billion in AI sales by 2027. Broadcom’s latest reported quarter also showed 47.9% year-over-year revenue growth, reinforcing the company’s momentum. Broadcom’s AI Boom: Is a 2x Stock Gain Still Within Reach?
• Neutral Sentiment: Debt-funded expansion introduces execution and balance-sheet risk: Borrowing tens of billions of dollars could accelerate AI infrastructure growth, but it would also increase leverage and financing costs if customer demand or deal economics disappoint. Broadcom reportedly eyes nearly $100 billion debt package
• Negative Sentiment: Marvell’s Google partnership threatens Broadcom’s custom AI-chip dominance: Marvell’s agreement covers products connected to Google’s TPU ecosystem, including inference accelerators and networking components. Google also received warrants that could align it more closely with Marvell, raising concerns about future share loss for Broadcom despite Broadcom’s existing multiyear Google partnership. Marvell Constructs an AI Moat With Alphabet Warrants

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.