Envestnet Portfolio Solutions Inc. boosted its stake in Broadcom Inc. (NASDAQ:AVGO – Free Report) by 9.4% in the 2nd quarter, Holdings Channel reports. The firm 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 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp grew its position in Broadcom by 8.7% in the 2nd quarter. State Street Corp now owns 208,031,610 shares of the semiconductor manufacturer’s stock valued at $75,367,711,000 after acquiring an additional 16,651,378 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Broadcom by 1.4% in 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. Norges Bank acquired a new position in shares of Broadcom in the fourth quarter valued at approximately $24,252,196,000. Bank of America Corp DE increased its stake in Broadcom by 4.6% during the 2nd quarter. Bank of America Corp DE now owns 61,423,013 shares of the semiconductor manufacturer’s stock worth $23,202,543,000 after buying an additional 2,685,916 shares during the period. Finally, Wellington Management Group LLP boosted its position in Broadcom by 3.8% in the 2nd quarter. Wellington Management Group LLP now owns 51,580,703 shares of the semiconductor manufacturer’s stock valued at $19,484,611,000 after buying an additional 1,892,721 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.
Broadcom Stock Down 2.6%
NASDAQ:AVGO traded down $9.55 during midday trading on Wednesday, hitting $354.99. 22,932,577 shares of the company were exchanged, compared to its average volume of 25,303,502. Broadcom Inc. has a fifty-two week low of $289.96 and a fifty-two week high of $495.00. The company has a market capitalization of $1.69 trillion, a PE ratio of 45.34 and a beta of 1.44. The company has a current ratio of 2.50, a quick ratio of 2.29 and a debt-to-equity ratio of 0.57. The company has a fifty day simple moving average of $377.99 and a 200 day simple moving average of $380.11.
Broadcom Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Monday, September 21st will be paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Monday, September 21st. Broadcom’s dividend payout ratio (DPR) is currently 33.21%.
Analyst Ratings Changes
Several research firms recently commented on AVGO. JPMorgan Chase & Co. boosted their target price on Broadcom from $500.00 to $580.00 and gave the stock an “overweight” rating in a research note on Thursday, June 4th. Royal Bank Of Canada initiated coverage on Broadcom in a research report on Thursday, September 3rd. They set an “outperform” rating for the company. Fox Advisors upgraded shares of Broadcom to an “outperform” rating in a research note on Thursday, September 3rd. Susquehanna restated a “positive” rating and issued a $490.00 price objective (up from $450.00) on shares of Broadcom in a report on Thursday, May 28th. Finally, DA Davidson set a $350.00 price target on Broadcom and gave the stock a “neutral” rating in a report on Friday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and an average target price of $509.04.
View Our Latest Research Report on Broadcom
Insider Buying and Selling
In other Broadcom news, Director Justine Page sold 1,602 shares of Broadcom 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 transaction, the director owned 17,426 shares of the company’s stock, valued at $6,514,884.36. The trade was a 8.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Gayla Delly sold 1,890 shares of the business’s stock in a transaction that occurred 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 owned 31,326 shares of the company’s stock, valued at approximately $12,072,413.88. This represents a 5.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 53,492 shares of company stock worth $20,840,292 in the last quarter. 1.90% of the stock is owned by insiders.
More Broadcom News
Here are the key news stories impacting Broadcom this week:
- Positive Sentiment: Broadcom’s custom-AI-chip and networking businesses continue to attract bullish attention. Coverage highlights management’s projections for approximately $115 billion in AI semiconductor revenue in fiscal 2027 and $230 billion in fiscal 2028, with inference demand and hyperscaler-designed chips providing potential growth beyond Nvidia’s training-chip market. Elon Musk Is Going All In on Nvidia, but Are These Two Chip Stocks Better Buys?
- Positive Sentiment: Several analysts and investor-focused articles continue to view AVGO favorably, citing its strong AI exposure, major customers, dividend growth and recent earnings momentum. Broadcom’s latest quarterly results exceeded consensus estimates for both earnings and revenue, while revenue increased sharply year over year. A top chip stock analyst sees big things for Nvidia, Broadcom
- Neutral Sentiment: Broadcom’s chief executive continues to defend the company’s approximately $350 billion AI-chip outlook, arguing that customer relationships focused on inference support continued spending even if some AI companies call for slower frontier-model development. Delivering that forecast remains the key test for the investment case. Broadcom CEO Holds $350B Outlook Strong
- Negative Sentiment: China is reportedly reviewing Broadcom networking switches used in state-backed data centers as Beijing seeks to promote domestic semiconductor suppliers and reduce reliance on foreign AI infrastructure. The review raises potential regulatory, market-access and customer-concentration concerns. China surveys Broadcom switch use in state data centers
- Negative Sentiment: The broader market also pressured semiconductor shares as rising oil prices and Treasury yields ended a four-session equity rally. With AVGO trading below its 50-day and 200-day moving averages and at an elevated earnings multiple, investors may be taking profits or demanding clearer evidence that aggressive AI forecasts can be achieved. Why are Intel, AMD, Broadcom stocks down on Wednesday?
About Broadcom
Broadcom Inc (NASDAQ:AVGO) designs, develops and supplies semiconductor and infrastructure software products for businesses, telecommunications providers and other organizations worldwide. Its semiconductor portfolio includes networking and connectivity components, custom application-specific integrated circuits, broadband and wireless communications products, storage adapters, optical components, and industrial solutions.
The company also provides enterprise infrastructure software through businesses including VMware, which offers virtualization and private- and hybrid-cloud solutions; mainframe and enterprise software; and cybersecurity products.
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