45,974 Shares in Broadcom Inc. $AVGO Purchased by Mystic Asset Management Inc.

Mystic Asset Management Inc. acquired a new position in shares of Broadcom Inc. (NASDAQ:AVGO) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 45,974 shares of the semiconductor manufacturer’s stock, valued at approximately $17,367,000. Broadcom makes up 3.7% of Mystic Asset Management Inc.’s holdings, making the stock its 4th largest position.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Broadcom in the fourth quarter worth approximately $24,252,196,000. Bank of New York Mellon Corp acquired a new stake in Broadcom during the 2nd quarter worth $10,528,191,000. Deutsche Bank AG acquired a new stake in Broadcom during the 2nd quarter worth $5,661,216,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Broadcom during the second quarter worth $4,457,583,000. Finally, Cardano Risk Management B.V. raised its position in shares of Broadcom by 895.2% in the fourth quarter. Cardano Risk Management B.V. now owns 12,689,800 shares of the semiconductor manufacturer’s stock valued at $4,391,940,000 after buying an additional 11,414,701 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Key Headlines Impacting Broadcom

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 Trading Up 0.4%

Shares of AVGO opened at $370.34 on Tuesday. Broadcom Inc. has a 12-month low of $287.17 and a 12-month high of $495.00. The firm has a market capitalization of $1.76 trillion, a P/E ratio of 61.72, a P/E/G ratio of 0.70 and a beta of 1.45. The firm has a 50-day moving average price of $384.64 and a 200 day moving average price of $376.70. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on AVGO shares. Dbs Bank upgraded shares of Broadcom to a “moderate buy” rating in a research report on Thursday, June 18th. Susquehanna reissued a “positive” rating and issued a $490.00 target price (up from $450.00) on shares of Broadcom in a research note on Thursday, May 28th. KeyCorp restated an “overweight” rating and set a $575.00 target price (up from $500.00) on shares of Broadcom in a report on Thursday, June 4th. Cantor Fitzgerald restated an “overweight” rating and issued a $525.00 price target on shares of Broadcom in a research report on Thursday, June 4th. Finally, Wall Street Zen cut Broadcom from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 18th. Twenty-nine analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $491.97.

Insider Activity

In other news, Director Gayla J. Delly sold 1,890 shares of Broadcom stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $385.38, for a total transaction of $728,368.20. Following the sale, the director owned 31,326 shares of the company’s stock, valued at approximately $12,072,413.88. The trade was a 5.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Justine Page sold 1,602 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director owned 17,426 shares in the company, valued at $6,514,884.36. This represents a 8.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 61,644 shares of company stock worth $24,016,214 in the last 90 days. 1.90% of the stock is owned by corporate insiders.

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.