Jupiter Wealth Management LLC Takes Position in Broadcom Inc. $AVGO

Jupiter Wealth Management LLC bought a new position in Broadcom Inc. (NASDAQ:AVGO) in the 2nd quarter, Holdings Channel.com reports. The firm bought 29,849 shares of the semiconductor manufacturer’s stock, valued at approximately $11,275,000. Broadcom comprises approximately 4.5% of Jupiter Wealth Management LLC’s holdings, making the stock its 7th biggest holding.

A number of other institutional investors have also added to or reduced their stakes in AVGO. Vanguard Group Inc. boosted its holdings in shares of Broadcom by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer’s stock worth $167,064,997,000 after purchasing an additional 3,919,715 shares in the last quarter. State Street Corp raised 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 valued at $65,788,194,000 after buying an additional 5,040,801 shares in the last quarter. Geode Capital Management LLC lifted its position in Broadcom by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 111,277,280 shares of the semiconductor manufacturer’s stock worth $38,396,634,000 after buying an additional 1,548,699 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Broadcom by 3.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 85,546,083 shares of the semiconductor manufacturer’s stock worth $29,607,500,000 after buying an additional 2,491,644 shares during the last quarter. Finally, Norges Bank purchased a new stake in Broadcom in the fourth quarter worth approximately $24,252,196,000. Institutional investors own 76.43% of the company’s stock.

Insider Activity

In other news, Director Justine Page sold 1,602 shares of the stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $373.86, for a total transaction of $598,923.72. Following the completion of the sale, the director directly owned 17,426 shares in the company, valued at approximately $6,514,884.36. This represents a 8.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Harry L. You purchased 1,000 shares of Broadcom stock in a transaction that occurred on Thursday, June 11th. The shares were acquired at an average price of $373.57 per share, for a total transaction of $373,570.00. Following the acquisition, the director owned 38,466 shares in the company, valued at $14,369,743.62. This trade represents a 2.67% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders sold 61,644 shares of company stock valued at $24,016,214. 1.90% of the stock is currently owned by insiders.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Wall Street expects exceptional growth, with consensus estimates calling for approximately $29.43 billion in revenue and $3.24 in EPS, representing year-over-year growth of roughly 84.5% and 91.7%, respectively. BakerAvenue strategist King Lip has called AVGO a “top pick” ahead of the report. Broadcom stock dubbed a top pick ahead of Q3 earnings
• Positive Sentiment: Broadcom announced VMware AI Factory, which is designed to reduce private AI deployment from weeks to hours, pool GPU capacity, and provide model governance and cost controls. The initiative supports more than 150 AI models and broadens Broadcom’s opportunity in enterprise AI infrastructure. Broadcom Announces VMware AI Factory
• Positive Sentiment: New AgentMinder, VMware vDefend and Avi Load Balancer capabilities target identity, Zero Trust security, monitoring and governance for autonomous AI agents. These offerings could strengthen Broadcom’s VMware software platform and help enterprises deploy sensitive AI workloads in private clouds. Broadcom Delivers End-to-End Security for Agentic AI
• Positive Sentiment: Broadcom also launched TrueSource, a commercially supported portfolio of verified open-source software covering Spring, Java, Python, Node.js, PostgreSQL, MySQL and other data technologies. The offering may create additional recurring enterprise software revenue while addressing growing software supply-chain security concerns. Broadcom Strengthens Spring Security with TrueSource
• Neutral Sentiment: Options traders are positioning for a substantial post-earnings move, increasing volatility risk in either direction. The stock’s reaction will likely depend more on forward AI semiconductor revenue and VMware guidance than on the quarter’s headline results. How Much Traders See Broadcom Stock Moving After Earnings
• Negative Sentiment: Expectations are elevated, creating downside risk if results or guidance disappoint. Broadcom also trades at a premium valuation, while reported insider activity shows overwhelmingly more sales than purchases over the past six months.

Broadcom Price Performance

Shares of Broadcom stock opened at $370.34 on Tuesday. 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 Inc. has a one year low of $287.17 and a one year high of $495.00. The business’s 50 day simple moving average is $384.64 and its two-hundred day simple moving average is $376.70. The stock has a market capitalization of $1.76 trillion, a P/E ratio of 61.72, a price-to-earnings-growth ratio of 0.70 and a beta of 1.45.

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

Analyst Ratings Changes

Several research analysts have commented on AVGO shares. Susquehanna reissued a “positive” rating and set a $490.00 price target (up from $450.00) on shares of Broadcom in a research note on Thursday, May 28th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $400.00 price objective on shares of Broadcom in a research note on Wednesday, August 26th. Oppenheimer reaffirmed an “outperform” rating and set a $535.00 target price (up from $450.00) on shares of Broadcom in a report on Thursday, June 4th. UBS Group set a $485.00 target price on shares of Broadcom and gave the stock a “buy” rating in a research report on Thursday, June 4th. Finally, DA Davidson boosted their price target on shares of Broadcom from $375.00 to $400.00 and gave the stock a “neutral” rating in a research note on Thursday, June 4th. Twenty-nine analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $491.97.

Broadcom Company 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.