Broadcom Inc. $AVGO is SurgoCap Partners LP’s 8th Largest Position

SurgoCap Partners LP reduced its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 4.5% in the fourth quarter, HoldingsChannel reports. The firm owned 669,969 shares of the semiconductor manufacturer’s stock after selling 31,591 shares during the period. Broadcom makes up approximately 6.4% of SurgoCap Partners LP’s investment portfolio, making the stock its 8th largest position. SurgoCap Partners LP’s holdings in Broadcom were worth $231,876,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Brown Brothers Harriman & Co. raised its stake in Broadcom by 10.7% in the third quarter. Brown Brothers Harriman & Co. now owns 77,411 shares of the semiconductor manufacturer’s stock valued at $25,539,000 after buying an additional 7,499 shares during the last quarter. Dana Investment Advisors Inc. raised its stake in Broadcom by 2.6% in the third quarter. Dana Investment Advisors Inc. now owns 173,759 shares of the semiconductor manufacturer’s stock valued at $57,325,000 after buying an additional 4,442 shares during the last quarter. Sovran Advisors LLC raised its stake in Broadcom by 121.3% in the fourth quarter. Sovran Advisors LLC now owns 30,631 shares of the semiconductor manufacturer’s stock valued at $10,507,000 after buying an additional 16,789 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its stake in Broadcom by 406.1% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,994 shares of the semiconductor manufacturer’s stock valued at $4,151,000 after buying an additional 9,624 shares during the last quarter. Finally, Siligmueller & Norvid Wealth Advisors LLC purchased a new stake in Broadcom in the third quarter valued at about $762,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Erste Group Bank raised Broadcom from a “hold” rating to a “buy” rating in a report on Friday, June 5th. Benchmark increased their price objective on Broadcom from $485.00 to $545.00 and gave the company a “buy” rating in a report on Thursday, June 4th. Zacks Research lowered Broadcom from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 21st. Wells Fargo & Company reissued an “overweight” rating and issued a $545.00 price objective (up from $430.00) on shares of Broadcom in a report on Thursday, May 14th. Finally, Royal Bank Of Canada increased their price objective on Broadcom from $360.00 to $400.00 and gave the company a “sector perform” rating in a report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and an average price target of $490.13.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Director Harry L. You bought 1,000 Broadcom shares in a disclosed SEC filing, a sign of confidence that can reassure investors after the recent selloff. SEC Form 4 filing
• Positive Sentiment: Broadcom continues to be viewed as a major AI infrastructure beneficiary, with recent articles highlighting its semiconductor, networking, and custom compute exposure as AI spending remains strong. Investopedia article
• Positive Sentiment: Wall Street Zen reportedly upgraded Broadcom to Strong-Buy, adding to bullish analyst sentiment around the stock. American Banking News article
• Positive Sentiment: Broadcom’s spring and Java security initiative, along with new AI-enabled vulnerability detection tools, may support its infrastructure software franchise and deepen enterprise relationships. Yahoo Finance article
• Neutral Sentiment: Some analysts say competitors like Credo and Lumentum may have stronger near-term upside in data-center connectivity, which doesn’t weaken Broadcom’s thesis but could limit relative enthusiasm. Zacks article
• Negative Sentiment: Market commentary says Broadcom’s post-earnings decline was driven by cautious AI guidance and valuation concerns, suggesting investors are reassessing how much upside is already priced in. Yahoo Finance article

Insider Activity at Broadcom

In other news, Director Justine Page sold 2,018 shares of the firm’s stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $353.00, for a total value of $712,354.00. Following the transaction, the director owned 18,164 shares in the company, valued at $6,411,892. This trade represents a 10.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Harry L. You bought 1,000 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was purchased at an average price of $373.57 per share, for a total transaction 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. Insiders have sold a total of 51,233 shares of company stock valued at $18,125,134 in the last ninety days. 1.90% of the stock is currently owned by company insiders.

Broadcom Stock Down 4.4%

Broadcom stock opened at $376.71 on Wednesday. The firm has a market cap of $1.79 trillion, a price-to-earnings ratio of 62.79, a price-to-earnings-growth ratio of 0.69 and a beta of 1.41. Broadcom Inc. has a 52 week low of $244.17 and a 52 week high of $495.00. The business’s 50-day moving average price is $407.09 and its 200 day moving average price is $363.14. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, topping the consensus estimate of $2.40 by $0.04. The firm had revenue of $22.19 billion for the quarter, compared to analyst estimates of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.Broadcom’s revenue for the quarter was up 47.9% compared to the same quarter last year. During the same period last year, the company earned $1.58 earnings per share. As a group, sell-side analysts anticipate that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd will be given a dividend of $0.65 per share. The ex-dividend date is Monday, June 22nd. This represents a $2.60 dividend on an annualized basis and a yield of 0.7%. Broadcom’s dividend payout ratio is currently 43.33%.

About Broadcom

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.