Summit Global Investments grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO – Free Report) by 6.5% in the first quarter, HoldingsChannel reports. The fund owned 22,688 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,386 shares during the quarter. Summit Global Investments’ holdings in Broadcom were worth $7,022,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently modified their holdings of AVGO. ROSS JOHNSON & Associates LLC grew its holdings in Broadcom by 1,320.0% during the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 66 shares during the period. SWAN Capital LLC increased its position in Broadcom by 261.9% in the fourth 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 raised its stake in shares of Broadcom by 546.2% in the first quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer’s stock worth $26,000 after buying an additional 71 shares during the period. Nvest Wealth Strategies Inc. purchased a new position in shares of Broadcom during the 4th quarter valued at about $33,000. Finally, Family CFO Inc purchased a new position in shares of Broadcom during the 4th quarter valued at about $35,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on AVGO. DA Davidson increased their target price on shares of Broadcom from $375.00 to $400.00 and gave the stock a “neutral” rating in a report on Thursday, June 4th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $525.00 price target on shares of Broadcom in a report on Thursday, June 4th. Citigroup reiterated a “buy” rating on shares of Broadcom in a research report on Thursday, June 4th. Bank of America increased their price objective on shares of Broadcom from $450.00 to $530.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $525.00 target price on shares of Broadcom in a research note on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $493.24.
Key Stories Impacting Broadcom
Here are the key news stories impacting Broadcom this week:
- Positive Sentiment: Broadcom was singled out as a leading AI infrastructure stock, with analysts noting its strong AI bookings and long-dated customer commitments as advantages over smaller rivals. CBRS vs. AVGO: Which Stock Leads the AI Infrastructure Boom?
- Positive Sentiment: Coverage also pointed to Broadcom as one of the top networking semiconductor names to watch because AI data center demand is accelerating and driving interest in the group. 4 Networking Semiconductor Stocks to Watch in August 2026
- Positive Sentiment: Another piece argued that Broadcom’s AI trade remains intact after Alphabet’s strong earnings, supporting the broader market’s enthusiasm for AI infrastructure suppliers. The AI Trade Isn’t Slowing
- Positive Sentiment: Broadcom was also highlighted as a beneficiary of AI exposure plus dividend income, reinforcing its appeal to growth-and-income investors. These Stocks Offer AI Exposure and Dividend Payouts
- Neutral Sentiment: Several articles compared Broadcom’s year-to-date performance with other tech stocks and broader sector returns, but these were mostly performance updates rather than new catalysts. Are Computer and Technology Stocks Lagging Broadcom (AVGO) This Year?
- Neutral Sentiment: Commentary on Broadcom as a dividend ETF holding and on billionaire investor Philippe Laffont’s tech picks added some sentiment support, but did not point to a direct company-specific event. This Dividend ETF Choice Could Shape Your Income Strategy Through 2026
- Negative Sentiment: One note flagged insider selling at Broadcom, which may temper enthusiasm a bit after the stock’s strong run. Insider Moves Are Sending Mixed Signals Across the Tech Sector
Broadcom Trading Down 1.1%
AVGO stock opened at $392.47 on Friday. Broadcom Inc. has a 1-year low of $281.61 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. The company has a market capitalization of $1.87 trillion, a price-to-earnings ratio of 65.41, a PEG ratio of 0.76 and a beta of 1.45. The business has a 50 day simple moving average of $398.28 and a two-hundred day simple moving average of $366.58.
Broadcom (NASDAQ:AVGO – Get Free Report) last released its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (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 analysts’ expectations of $22.13 billion. During the same quarter last year, the business posted $1.58 earnings per share. The company’s revenue for the quarter was up 47.9% compared to the same quarter last year. Research analysts anticipate that Broadcom Inc. will post 10.24 EPS for the current fiscal year.
Broadcom Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 22nd were paid a dividend of $0.65 per share. 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 (DPR) is presently 43.33%.
Insider Activity at Broadcom
In other Broadcom news, Director Gayla J. Delly sold 1,890 shares of the stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $385.38, for a total transaction of $728,368.20. Following the completion of the transaction, the director owned 31,326 shares of the company’s stock, valued at $12,072,413.88. This represents a 5.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Harry L. You acquired 1,000 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were purchased at an average price of $373.57 per share, with a total value of $373,570.00. Following the transaction, the director owned 38,466 shares of the company’s stock, valued at approximately $14,369,743.62. This represents a 2.67% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have sold 61,644 shares of company stock valued at $24,016,214. 1.90% of the stock is currently owned by insiders.
Broadcom Company 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.
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