Deepwater Asset Management LLC Acquires New Stake in Broadcom Inc. $AVGO

Deepwater Asset Management LLC purchased a new position in Broadcom Inc. (NASDAQ:AVGO) during the 2nd quarter, HoldingsChannel reports. The fund purchased 3,668 shares of the semiconductor manufacturer’s stock, valued at approximately $1,386,000.

Several other institutional investors have also recently modified their holdings of the company. Fullerton Advisors LLC increased its position in Broadcom by 1.3% during the 1st quarter. Fullerton Advisors LLC now owns 1,989 shares of the semiconductor manufacturer’s stock valued at $616,000 after purchasing an additional 25 shares during the period. NORTHSTAR ASSET MANAGEMENT Co boosted its stake in shares of Broadcom by 0.5% during the 1st 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 position in shares of Broadcom by 0.3% during the first quarter. RFG Holdings Inc. now owns 8,499 shares of the semiconductor manufacturer’s stock valued at $2,631,000 after buying an additional 26 shares during the period. Yukon Wealth Management Inc. increased its position in shares of Broadcom by 1.1% during the first quarter. Yukon Wealth Management Inc. now owns 2,501 shares of the semiconductor manufacturer’s stock valued at $774,000 after buying an additional 26 shares during the period. Finally, NerdWallet Wealth Partners LLC raised its stake in Broadcom by 2.6% in 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 in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AVGO. Morgan Stanley set a $502.00 price objective on shares of Broadcom and gave the stock an “overweight” rating in a report on Thursday, June 4th. KeyCorp reissued 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. Susquehanna restated a “positive” rating and issued a $490.00 price target (up from $450.00) on shares of Broadcom in a research note on Thursday, May 28th. Rosenblatt Securities reiterated a “buy” rating and set a $500.00 price objective on shares of Broadcom in a research note on Thursday, June 4th. Finally, Truist Financial boosted their target price on Broadcom from $545.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, June 4th. Twenty-nine investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $491.97.

Broadcom Stock Down 0.7%

Shares of AVGO stock opened at $368.79 on Friday. Broadcom Inc. has a 12 month low of $287.17 and a 12 month high of $495.00. The stock has a market cap of $1.75 trillion, a P/E ratio of 61.47, a P/E/G ratio of 0.71 and a beta of 1.45. 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 company has a 50 day simple moving average of $385.07 and a two-hundred day simple moving average of $376.26.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 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 firm had revenue of $22.19 billion for the quarter, compared to the consensus estimate of $22.13 billion. During the same quarter last year, the company earned $1.58 earnings per share. The business’s revenue for the quarter was up 47.9% compared to the same quarter last year. On average, research analysts expect that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Dividend Announcement

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

Insider Activity at Broadcom

In related news, Director Justine Page sold 1,602 shares of the stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $373.86, for a total transaction of $598,923.72. Following the completion of the transaction, the director directly owned 17,426 shares of the company’s stock, valued at approximately $6,514,884.36. This represents a 8.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark David Brazeal sold 25,000 shares of the company’s stock in a transaction dated 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 owned 194,989 shares in the company, valued at $78,254,935.37. This represents a 11.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 61,644 shares of company stock worth $24,016,214 over the last 90 days. Company insiders own 1.90% of the company’s stock.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Mizuho remains bullish ahead of earnings, citing Broadcom’s nearly uninterrupted 30-quarter earnings track record, deeply negative investor sentiment, and the possibility that CEO Hock Tan will directly address concerns about custom ASIC competition and Google’s in-house chips. Mizuho is bullish on Broadcom ahead of Sept. 2 earnings
• Positive Sentiment: Broadcom’s partnership with OpenAI on the Jalapeño inference chip highlights demand for specialized AI infrastructure. OpenAI says the chip can deliver substantially better performance per watt than comparison systems, potentially supporting Broadcom’s custom-chip and networking growth. Why BNP thinks Jalapeño could benefit Broadcom stock
• Positive Sentiment: Analysts argue Broadcom offers a better AI risk-reward profile than AMD because of its broader exposure across custom accelerators, networking, and infrastructure software, along with a comparatively lower valuation. Broadcom vs. AMD: Which AI Chip Stock Has the Better Risk-Reward?
• Positive Sentiment: A new Kyndryl collaboration expands VMware Cloud Foundation’s reach among enterprise customers, reinforcing Broadcom’s private-cloud and software modernization strategy. Broadcom Kyndryl partnership
• Neutral Sentiment: Royal Bank of Canada reiterated its “Sector Perform” rating, suggesting balanced expectations rather than a strong near-term catalyst. Royal Bank of Canada reiterates Sector Perform
• Negative Sentiment: Broadcom is reportedly considering $70 billion to $80 billion of debt financing for an AI chip-related transaction involving companies including Anthropic. The potential borrowing could accelerate growth but raises leverage, execution, and repayment risks. Broadcom nears $70B debt financing deal
• Negative Sentiment: Investors remain concerned that Google’s and other hyperscalers’ internally designed chips could pressure Broadcom’s custom-silicon revenue. Competition from Marvell, NVIDIA, and AMD adds to the risk, while Broadcom’s elevated earnings multiple leaves less room for disappointment. Marvell and Google custom silicon deal

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.