QRG Capital Management Inc. boosted its holdings in Broadcom Inc. (NASDAQ:AVGO – Free Report) by 10.1% during the second quarter, HoldingsChannel reports. The fund owned 864,506 shares of the semiconductor manufacturer’s stock after buying an additional 79,451 shares during the period. Broadcom comprises 2.3% of QRG Capital Management Inc.’s holdings, making the stock its 7th biggest position. QRG Capital Management Inc.’s holdings in Broadcom were worth $323,796,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in AVGO. Envestnet Portfolio Solutions Inc. increased its stake in Broadcom by 9.4% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 227,394 shares of the semiconductor manufacturer’s stock worth $85,882,000 after acquiring an additional 19,465 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Broadcom by 9.9% in the second quarter. Envestnet Asset Management Inc. now owns 8,133,536 shares of the semiconductor manufacturer’s stock valued at $3,003,100,000 after purchasing an additional 735,257 shares during the period. Andra AP fonden lifted its stake in shares of Broadcom by 25.9% in the 2nd quarter. Andra AP fonden now owns 817,960 shares of the semiconductor manufacturer’s stock valued at $308,984,000 after purchasing an additional 168,260 shares during the last quarter. State Street Corp lifted its stake in shares of 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 purchasing an additional 16,651,378 shares during the last quarter. Finally, Security National Bank of Sioux City Iowa IA purchased a new position in shares of Broadcom during the 2nd quarter worth $227,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.
Key Stories Impacting Broadcom
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?
Broadcom Trading Down 2.6%
Broadcom (NASDAQ:AVGO – Get Free Report) last posted its quarterly earnings data on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 EPS for the quarter, beating the consensus estimate of $3.22 by $0.10. The business had revenue of $29.59 billion during the quarter, compared to analyst estimates of $29.24 billion. Broadcom had a net margin of 42.94% and a return on equity of 48.33%. The business’s revenue for the quarter was up 85.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.69 earnings per share. As a group, analysts expect that Broadcom Inc. will post 10.36 earnings per share for the current year.
Broadcom Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Monday, September 21st. Broadcom’s dividend payout ratio (DPR) is currently 33.21%.
Analyst Ratings Changes
A number of research analysts have commented on the stock. Evercore set a $578.00 target price on shares of Broadcom in a research report on Thursday, September 3rd. UBS Group downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a research note on Thursday, September 3rd. Bank of America upped their price objective on shares of Broadcom from $450.00 to $530.00 and gave the stock a “buy” rating in a report on Thursday, June 4th. Wall Street Zen cut shares of Broadcom from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 18th. Finally, Erste Group Bank reiterated a “hold” rating on shares of Broadcom in a report on Tuesday, July 7th. One 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. According to data from MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and a consensus price target of $509.04.
Read Our Latest Report on Broadcom
Insider Buying and Selling at Broadcom
In other Broadcom news, Director Gayla Delly sold 1,890 shares of the business’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 transaction, the director owned 31,326 shares in the company, valued at $12,072,413.88. The trade was a 5.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Mark Brazeal sold 25,000 shares of the company’s stock in a transaction on Friday, July 10th. The stock was sold at an average price of $401.33, for a total value of $10,033,250.00. Following the sale, the insider directly owned 194,989 shares in the company, valued at $78,254,935.37. This represents a 11.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 53,492 shares of company stock valued at $20,840,292 in the last 90 days. Company insiders own 1.90% of the company’s stock.
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.
Featured Articles
- Five stocks we like better than Broadcom
- Chips to Bots: Qualcomm’s Agentic AI Breakout
- Ciena Fell 40%—Now One Analyst Sees 50% Upside
- Energy Transfer Taps the AI Power Boom
- Viking’s Obesity Edge May Be Staying Power, Not Weight Loss
Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc. (NASDAQ:AVGO – Free Report).
Receive News & Ratings for Broadcom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadcom and related companies with MarketBeat.com's FREE daily email newsletter.
