Interchange Capital Partners LLC Has $5.99 Million Stock Holdings in Broadcom Inc. $AVGO

Interchange Capital Partners LLC increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 88.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,861 shares of the semiconductor manufacturer’s stock after purchasing an additional 7,448 shares during the period. Broadcom comprises about 1.1% of Interchange Capital Partners LLC’s investment portfolio, making the stock its 15th largest position. Interchange Capital Partners LLC’s holdings in Broadcom were worth $5,991,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AVGO. Market Street Wealth Management Advisors LLC raised its stake in Broadcom by 14.1% during the second quarter. Market Street Wealth Management Advisors LLC now owns 3,059 shares of the semiconductor manufacturer’s stock worth $1,156,000 after acquiring an additional 379 shares in the last quarter. Owl Creek Wealth Partners LLC increased its stake in shares of Broadcom by 3.7% in the second quarter. Owl Creek Wealth Partners LLC now owns 4,740 shares of the semiconductor manufacturer’s stock valued at $1,791,000 after buying an additional 168 shares in the last quarter. Kavar Capital Partners Group LLC raised its holdings in shares of Broadcom by 3.1% in the second quarter. Kavar Capital Partners Group LLC now owns 4,085 shares of the semiconductor manufacturer’s stock valued at $1,543,000 after buying an additional 121 shares during the last quarter. John W. Brooker & Co. CPAs bought a new position in shares of Broadcom in the second quarter valued at about $263,000. Finally, Family CFO Inc acquired a new position in Broadcom during the 2nd quarter worth about $2,115,000. Institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling

In related news, insider Mark David Brazeal sold 25,000 shares of the stock in a transaction that occurred on Friday, July 10th. The shares were 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 trade represents a 11.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gayla J. Delly sold 1,890 shares of Broadcom stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $385.38, for a total transaction of $728,368.20. Following the transaction, the director directly owned 31,326 shares in the company, valued at $12,072,413.88. The trade was a 5.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 61,644 shares of company stock worth $24,016,214 in the last ninety days. 1.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $515.00 price objective (up from $430.00) on shares of Broadcom in a research report on Thursday, June 4th. Oppenheimer reiterated an “outperform” rating and set a $535.00 target price (up from $450.00) on shares of Broadcom in a research report on Thursday, June 4th. Mizuho increased their price target on shares of Broadcom from $480.00 to $530.00 and gave the company an “outperform” rating in a research note on Thursday, June 4th. Rosenblatt Securities reissued a “buy” rating and issued a $500.00 price target on shares of Broadcom in a report on Thursday, June 4th. Finally, Royal Bank Of Canada boosted their price objective on shares of Broadcom from $360.00 to $400.00 and gave the stock a “sector perform” rating in a research report on Thursday, June 4th. Twenty-eight analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and a consensus price target of $493.24.

Broadcom Price Performance

Shares of AVGO stock opened at $393.05 on Friday. The firm’s 50 day moving average price is $389.79 and its two-hundred day moving average price is $373.30. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24. Broadcom Inc. has a 52-week low of $281.87 and a 52-week high of $495.00. The stock has a market cap of $1.87 trillion, a PE ratio of 65.51, a PEG ratio of 0.80 and a beta of 1.45.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, beating 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 company had revenue of $22.19 billion during the quarter, compared to analysts’ expectations of $22.13 billion. During the same quarter in the previous year, the company posted $1.58 EPS. The business’s revenue for the quarter was up 47.9% compared to the same quarter last year. As a group, analysts forecast that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd were paid a $0.65 dividend. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $2.60 annualized dividend and a yield of 0.7%. Broadcom’s dividend payout ratio is presently 43.33%.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s custom-silicon and XPU opportunity remains a key long-term catalyst. Analysts and commentators point to accelerating AI infrastructure spending, major customer agreements, and potential growth in custom chips and networking. Broadcom: XPU Growth Trajectory Underestimated, Stock A Bargain
• Positive Sentiment: Wall Street’s average price target implies substantial upside from recent trading levels, supporting the bullish view that the market may be underestimating Broadcom’s AI growth trajectory. Broadcom is Down Over 3 Months: One Wall Street Pro Sees 60%+ Gains Ahead
• Positive Sentiment: Continued institutional interest, including purchases by GAMCO Investors and Cathie Wood’s reported investment, provides some additional support for the stock’s long-term AI investment case. Cathie Wood buys $16.2 million of Broadcom

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.