Summitry LLC grew its stake in Broadcom Inc. (NASDAQ:AVGO – Free Report) by 167.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,559 shares of the semiconductor manufacturer’s stock after purchasing an additional 12,235 shares during the period. Summitry LLC’s holdings in Broadcom were worth $6,054,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in AVGO. Vanguard Group Inc. raised its holdings in Broadcom by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer’s stock valued at $167,064,997,000 after acquiring an additional 3,919,715 shares in the last quarter. State Street Corp grew its holdings in shares of Broadcom by 2.7% during the 4th quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer’s stock worth $65,788,194,000 after purchasing an additional 5,040,801 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Broadcom by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 111,277,280 shares of the semiconductor manufacturer’s stock valued at $38,396,634,000 after purchasing an additional 1,548,699 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Broadcom by 3.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 85,546,083 shares of the semiconductor manufacturer’s stock valued at $29,607,500,000 after purchasing an additional 2,491,644 shares during the period. Finally, Norges Bank acquired a new position in shares of Broadcom in the fourth quarter valued at $24,252,196,000. Institutional investors own 76.43% of the company’s stock.
Key Stories Impacting Broadcom
Here are the key news stories impacting Broadcom this week:
- Positive Sentiment: Broadcom’s reported multiyear memorandum of understanding with Samsung, valued at more than $200 billion, is expected to provide high-bandwidth memory and advanced manufacturing support for Broadcom’s next-generation AI accelerators through 2030. The arrangement could improve supply-chain capacity and strengthen Broadcom’s position in AI data-center infrastructure. Samsung AI chip pact article
- Positive Sentiment: Apple announced a multiyear agreement with Broadcom as part of its American Manufacturing Program. The partnership is expected to support more than $30 billion of investment in a U.S.-based silicon supply chain and advanced manufacturing equipment, adding a major customer-related opportunity. Apple manufacturing agreement article
- Positive Sentiment: Semiconductor ETFs attracted significant new cash as chip stocks rallied on strong technology earnings, potentially increasing passive and sector-wide demand for AVGO shares. Semiconductor ETF flows article
- Positive Sentiment: Analysts continue to highlight Broadcom’s AI accelerators, networking products, strong bookings, and long-term contracts as drivers of semiconductor growth into fiscal 2027. Consensus estimates imply additional upside, while upward earnings revisions could provide near-term support. Broadcom analyst upside article
- Neutral Sentiment: Commentary characterizes Broadcom as a relatively safer AI-hardware investment and suggests its infrastructure exposure could benefit from strong Alphabet and broader hyperscaler AI spending. However, these views remain dependent on continued capital-expenditure growth and execution. Broadcom safer AI hardware article
- Negative Sentiment: Broadcom recently underperformed the broader market during a pullback, highlighting sensitivity to elevated expectations. With a high earnings multiple after a powerful multiyear advance, investors may demand continued strong growth to justify the valuation. Broadcom market pullback article
Insider Activity
Analyst Ratings Changes
Several brokerages recently commented on AVGO. Royal Bank Of Canada raised their target price on Broadcom from $360.00 to $400.00 and gave the stock a “sector perform” rating in a research report on Thursday, June 4th. The Goldman Sachs Group restated a “buy” rating and issued a $525.00 price objective on shares of Broadcom in a research note on Thursday, June 4th. Seaport Research Partners reaffirmed a “neutral” rating on shares of Broadcom in a report on Wednesday, April 8th. Citigroup reiterated a “buy” rating on shares of Broadcom in a research report on Thursday, June 4th. Finally, TD Cowen reissued a “buy” rating and issued a $500.00 target price on shares of Broadcom in a research note on Thursday, June 4th. Twenty-eight investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus target price of $493.24.
Read Our Latest Analysis on Broadcom
Broadcom Stock Performance
Shares of NASDAQ:AVGO opened at $389.28 on Friday. The business’s fifty day moving average price is $394.08 and its two-hundred day moving average price is $368.11. Broadcom Inc. has a fifty-two week low of $281.61 and a fifty-two week high of $495.00. The stock has a market capitalization of $1.85 trillion, a price-to-earnings ratio of 64.88, a price-to-earnings-growth ratio of 0.74 and a beta of 1.45. 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 (NASDAQ:AVGO – Get Free Report) last issued its quarterly earnings data 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 return on equity of 41.61% and a net margin of 38.85%.The company had revenue of $22.19 billion during the quarter, compared to analysts’ expectations of $22.13 billion. During the same period last year, the business earned $1.58 earnings per share. The business’s revenue was up 47.9% on a year-over-year basis. As a group, analysts predict that Broadcom Inc. will post 10.24 EPS for the current fiscal year.
Broadcom Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 22nd were given a dividend of $0.65 per share. The ex-dividend date was Monday, June 22nd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.7%. Broadcom’s dividend payout ratio (DPR) is 43.33%.
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.
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