Broadcom Inc. $AVGO Shares Acquired by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 9.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 227,394 shares of the semiconductor manufacturer’s stock after purchasing an additional 19,465 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Broadcom were worth $85,882,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of AVGO. Bank of America Corp DE lifted its holdings in Broadcom by 1.5% in the 1st 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 in the last quarter. Bartlett & CO. Wealth Management LLC grew its holdings in shares of Broadcom by 129.3% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 110,048 shares of the semiconductor manufacturer’s stock worth $34,061,000 after buying an additional 62,050 shares in the last quarter. First Bank & Trust grew its holdings in shares of Broadcom by 17.2% during the second quarter. First Bank & Trust now owns 10,503 shares of the semiconductor manufacturer’s stock worth $3,968,000 after buying an additional 1,545 shares in the last quarter. Fifth Lane Capital LP raised its position in shares of Broadcom by 77.8% in the fourth quarter. Fifth Lane Capital LP now owns 4,000 shares of the semiconductor manufacturer’s stock valued at $1,384,000 after buying an additional 1,750 shares during the last quarter. Finally, Wealthcare Capital Partners LLC raised its position in shares of Broadcom by 36.4% in the second 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 during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Key Broadcom News

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

Analysts Set New Price Targets

Several brokerages recently issued reports on AVGO. Weiss Ratings downgraded shares of Broadcom from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 30th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $500.00 target price on shares of Broadcom in a research note on Thursday, June 4th. Bank of America boosted their price target on Broadcom from $450.00 to $530.00 and gave the company a “buy” rating in a report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $515.00 price target (up from $430.00) on shares of Broadcom in a research note on Thursday, June 4th. Finally, Erste Group Bank restated a “hold” rating on shares of Broadcom in a report on Tuesday, July 7th. Twenty-eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $493.24.

Broadcom Price Performance

AVGO opened at $393.05 on Friday. The company’s 50 day simple moving average is $389.79 and its 200 day simple moving average is $373.30. 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 1 year low of $281.87 and a 1 year high of $495.00. The stock has a market capitalization of $1.87 trillion, a PE ratio of 65.51, a P/E/G ratio of 0.75 and a beta of 1.45.

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, beating 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 firm had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $22.13 billion. During the same period in the previous year, the firm earned $1.58 earnings per share. Broadcom’s revenue was up 47.9% compared to the same quarter last year. As a group, sell-side analysts expect that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Announces Dividend

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

Insider Activity at Broadcom

In other news, insider Mark David Brazeal sold 25,000 shares of the business’s 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 completion of the sale, the insider directly owned 194,989 shares of the company’s stock, valued at $78,254,935.37. The trade was a 11.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Justine Page sold 1,602 shares of the company’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $373.86, for a total value 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 61,644 shares of company stock valued at $24,016,214 over the last quarter. 1.90% of the stock is currently owned by corporate insiders.

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.