Smith Group Asset Management LLC Has $78.25 Million Position in Broadcom Inc. $AVGO

Smith Group Asset Management LLC boosted its position in Broadcom Inc. (NASDAQ:AVGO) by 11.2% in the 1st quarter, Holdings Channel reports. The institutional investor owned 252,834 shares of the semiconductor manufacturer’s stock after purchasing an additional 25,459 shares during the period. Broadcom comprises approximately 4.0% of Smith Group Asset Management LLC’s investment portfolio, making the stock its 4th largest position. Smith Group Asset Management LLC’s holdings in Broadcom were worth $78,255,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of AVGO. Brighton Jones LLC boosted its stake in shares of Broadcom by 21.8% in the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock valued at $6,882,000 after purchasing an additional 5,322 shares in the last quarter. Revolve Wealth Partners LLC raised its position in Broadcom by 10.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock worth $1,854,000 after purchasing an additional 756 shares during the period. United Bank lifted its stake in Broadcom by 76.5% in the first quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock worth $392,000 after purchasing an additional 1,014 shares during the last quarter. Sivia Capital Partners LLC lifted its stake in Broadcom by 10.1% in the second quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer’s stock worth $3,499,000 after purchasing an additional 1,160 shares during the last quarter. Finally, Capital & Planning LLC boosted its position in Broadcom by 10.5% during the second quarter. Capital & Planning LLC now owns 3,983 shares of the semiconductor manufacturer’s stock valued at $1,098,000 after buying an additional 378 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Justine Page sold 1,602 shares of Broadcom stock in a transaction on Monday, June 29th. The shares were sold at an average price of $373.86, for a total value of $598,923.72. Following the sale, the director owned 17,426 shares in the company, 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 legal filing with the SEC, which is available at this link. Also, insider Mark David Brazeal sold 25,000 shares of the business’s stock in a transaction on Friday, July 10th. The shares were sold at an average price of $401.33, for a total transaction of $10,033,250.00. Following the transaction, the insider directly owned 194,989 shares in the company, valued at approximately $78,254,935.37. The trade was a 11.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 61,644 shares of company stock worth $24,016,214. Insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AVGO. Bank of America raised their price objective on Broadcom from $450.00 to $530.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. Wall Street Zen cut Broadcom from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 18th. Susquehanna restated a “positive” rating and set a $490.00 price target (up from $450.00) on shares of Broadcom in a research report on Thursday, May 28th. DA Davidson lifted their price target on Broadcom from $375.00 to $400.00 and gave the stock a “neutral” rating in a research note on Thursday, June 4th. Finally, Seaport Research Partners reiterated a “neutral” rating on shares of Broadcom in a research report on Wednesday, April 8th. Twenty-eight investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $493.24.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom reportedly signed a five-year, $200 billion agreement with Samsung covering memory chips, including high-bandwidth memory (HBM), and potentially advanced packaging. The deal could help solve a key constraint for Broadcom’s AI accelerators by securing critical memory supply and supporting long-term growth. Broadcom Just Signed a $200 Billion AI Agreement
• Positive Sentiment: Analysts and investors remain optimistic that Broadcom’s custom AI-chip business and relationships with hyperscale cloud providers can continue benefiting from infrastructure spending. Some valuation analysis indicates AVGO may be below estimated fair value based on discounted cash flow and earnings multiples despite its strong long-term appreciation. Is Broadcom Stock Below Fair Value After Its AI Deals?
• Neutral Sentiment: The Samsung agreement highlights both the scale of AI demand and the industry’s rising costs. While guaranteed memory access may support revenue, the size of the commitment could pressure margins, capital requirements, and returns if AI demand or customer orders weaken. Broadcom’s $200 Billion Samsung Deal
• Negative Sentiment: Chip stocks have continued to pull back amid fears that AI-related valuations and capital spending expectations have become excessive, creating a broader headwind for AVGO. Chip Stocks Extend Pullback Amid AI Bubble Fears
• Negative Sentiment: One analyst raised concerns about AI “backstop” arrangements involving Broadcom and Nvidia, warning that these structures could leave the companies with additional liabilities if customers do not meet expected commitments. AI Backstop Concerns

Broadcom Stock Down 2.8%

Shares of NASDAQ:AVGO opened at $370.32 on Thursday. Broadcom Inc. has a 1 year low of $281.61 and a 1 year high of $495.00. The company has a market cap of $1.76 trillion, a PE ratio of 61.72, a P/E/G ratio of 0.73 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. The stock’s 50-day moving average is $395.11 and its 200 day moving average is $367.66.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.04. The business had revenue of $22.19 billion during the quarter, compared to analysts’ expectations of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The business’s revenue was up 47.9% on a year-over-year basis. During the same quarter last year, the business posted $1.58 EPS. Sell-side analysts anticipate that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 22nd were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Monday, June 22nd. 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.