6,582 Shares in Broadcom Inc. $AVGO Bought by Centric Wealth Management

Centric Wealth Management bought a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) during the 2nd quarter, according to its most recent filing with the SEC. The fund bought 6,582 shares of the semiconductor manufacturer’s stock, valued at approximately $2,741,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AVGO. ROSS JOHNSON & Associates LLC lifted its position in shares of Broadcom by 1,320.0% during the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 66 shares in the last quarter. SWAN Capital LLC lifted its holdings in Broadcom by 261.9% during the 4th quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock worth $26,000 after buying an additional 55 shares in the last quarter. Networth Advisors LLC lifted its stake in shares of Broadcom by 546.2% during the first quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 71 shares during the period. Nvest Wealth Strategies Inc. acquired a new position in shares of Broadcom during the fourth quarter valued at $33,000. Finally, Cherry Tree Wealth Management LLC boosted its holdings in Broadcom by 44.9% in the fourth quarter. Cherry Tree Wealth Management LLC now owns 129 shares of the semiconductor manufacturer’s stock valued at $45,000 after acquiring an additional 40 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Rackspace Technology launched a fully managed multitenant cloud platform based on Broadcom’s VMware Cloud Foundation 9.1. The deployment provides early commercial validation for Broadcom’s VMware strategy and targets regulated customers running Kubernetes and AI workloads. Broadcom (AVGO) Debuts VMware Cloud Foundation 9.1 In Managed Multitenant Cloud
• Positive Sentiment: Analysts continue to view Broadcom as a major beneficiary of the shift from AI training toward inference and agentic workloads, supporting the long-term outlook for its custom silicon and networking businesses. Broadcom Vs. Micron: Why They’re So Strong as Capital Shifts to Inference and Agentic AI
• Positive Sentiment: Historical analysis argues that the loss or reduction of a major customer’s chip program does not necessarily imply sustained weakness; Broadcom’s revenue grew substantially after a comparable Apple-related concern in 2023. Broadcom Has Seen Its Biggest Customer Drop a Key Chip Before
• Neutral Sentiment: Upcoming NVIDIA earnings and guidance could move Broadcom and other AI stocks, making NVIDIA’s results an important read-through for AI infrastructure demand. NVIDIA Earnings Could Move These 3 AI Stocks
• Neutral Sentiment: Reported short-interest data showed no measurable short position, but the figures appear incomplete or erroneous, limiting their usefulness as a trading signal.
• Negative Sentiment: Analysts expect continued gross-margin contraction in the upcoming third-quarter report, raising concerns that Broadcom’s rapid AI expansion could pressure profitability. Broadcom Q3 Earnings Preview
• Negative Sentiment: Reports that Broadcom is arranging roughly $60 billion of AI-related financing, potentially through structures that keep debt off its balance sheet, have increased investor concerns about leverage, credit-default-swap risk and the ultimate scale of AI deployment obligations. Broadcom’s $60 Billion AI Debt Deal
• Negative Sentiment: Broadcom is also facing broader semiconductor-sector selling ahead of NVIDIA’s report, while Marvell’s expanded custom-chip agreement with Google has intensified worries about customer concentration and competitive pressure. Broadcom Stock Drops Amid Rising Credit Default Swap Concerns

Broadcom Stock Performance

NASDAQ AVGO opened at $356.74 on Wednesday. The stock has a market cap of $1.70 trillion, a PE ratio of 59.46, a P/E/G ratio of 0.68 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. The firm has a 50-day moving average of $387.47 and a 200-day moving average of $375.72. Broadcom Inc. has a 52-week low of $287.17 and a 52-week high of $495.00.

Broadcom (NASDAQ:AVGO) last released its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $22.13 billion. During the same period last year, the firm earned $1.58 EPS. The business’s quarterly revenue was up 47.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd were given 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 payout ratio is 43.33%.

Insider Buying and Selling

In other Broadcom news, Director Gayla J. Delly sold 1,890 shares of the firm’s stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $385.38, for a total value of $728,368.20. Following the completion of the sale, the director directly owned 31,326 shares in the company, valued at approximately $12,072,413.88. This trade represents a 5.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 25,000 shares of the firm’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 transaction, the insider directly owned 194,989 shares in the company, valued at $78,254,935.37. This trade represents a 11.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 61,644 shares of company stock valued at $24,016,214 over the last three months. 1.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AVGO. JPMorgan Chase & Co. lifted their price target on shares of Broadcom from $500.00 to $580.00 and gave the stock an “overweight” rating in a research report on Thursday, June 4th. UBS Group set a $485.00 price objective on shares of Broadcom and gave the company a “buy” rating in a research note on Thursday, June 4th. TD Cowen reiterated a “buy” rating and set a $500.00 target price on shares of Broadcom in a research report on Thursday, June 4th. DA Davidson increased their price target on Broadcom from $375.00 to $400.00 and gave the company a “neutral” rating in a research note on Thursday, June 4th. Finally, Royal Bank Of Canada raised their price target on Broadcom from $360.00 to $400.00 and gave the stock a “sector perform” rating in a research report on Thursday, June 4th. Twenty-nine research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $491.97.

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.