Legacy Wealth Advisors LLC Purchases 1,427 Shares of Broadcom Inc. $AVGO

Legacy Wealth Advisors LLC increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 37.9% during the first quarter, Holdings Channel.com reports. The institutional investor owned 5,188 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,427 shares during the period. Broadcom accounts for 0.8% of Legacy Wealth Advisors LLC’s investment portfolio, making the stock its 24th largest holding. Legacy Wealth Advisors LLC’s holdings in Broadcom were worth $1,606,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AVGO. ROSS JOHNSON & Associates LLC lifted its stake in Broadcom by 1,320.0% in the 4th quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 66 shares during the last quarter. SWAN Capital LLC increased its position in Broadcom by 261.9% during the fourth quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock worth $26,000 after buying an additional 55 shares during the last quarter. Networth Advisors LLC raised its stake in Broadcom by 546.2% in the first quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer’s stock valued at $26,000 after buying an additional 71 shares during the period. Nvest Wealth Strategies Inc. bought a new stake in Broadcom in the fourth quarter valued at approximately $33,000. Finally, Family CFO Inc acquired a new stake in shares of Broadcom in the fourth quarter valued at approximately $35,000. 76.43% of the stock is owned by institutional investors.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: UBS said the recent momentum unwind in semiconductors may be nearing its end, which could allow investors to rebuild positions in names like Broadcom as forced selling eases. UBS sees Broadcom, Sandisk, Oracle stocks rebounding: here’s why
• Positive Sentiment: Analysts highlighted Broadcom’s VMware Cloud Foundation momentum, saying the software platform is becoming a larger growth engine as enterprises move private clouds and AI workloads to virtualized environments. VCF is Becoming Broadcom’s Growth Engine: More Upside Ahead?
• Positive Sentiment: Broadcom benefited from a broader semiconductor rebound, with chip stocks rising as investors bought the dip after the recent selloff and AI-related volatility. 5 Things to Know Before the Stock Market Opens on Tuesday
• Positive Sentiment: Morgan Stanley continued to frame Broadcom as one of the more attractive AI infrastructure names, citing strong cash generation and favorable risk-reward after the sector pullback. Broadcom stock gains 2% today: here’s why
• Neutral Sentiment: Broadcom also got a boost from a new Standard Chartered deal to power banking cloud modernization across 54 markets, reinforcing the value of its VMware-based infrastructure software. Broadcom (AVGO) Lands Standard Chartered Deal To Power Banking Cloud In 54 Markets
• Negative Sentiment: Sentiment remains somewhat pressured by an ITC investigation tied to Netlist’s patent complaint, which pulled Broadcom into broader regulatory noise around Samsung memory products and customers. Is Broadcom (AVGO) Still Undervalued As Netlist Patent Claims Test Sentiment?
• Negative Sentiment: Some headlines also noted that an AI-focused trading model sold Broadcom after its expected return profile weakened, reflecting lingering caution after the recent tech selloff. Claude AI Sells Broadcom (AVGO) Stock

Insider Transactions at Broadcom

In other news, Director Gayla J. Delly sold 1,890 shares of Broadcom stock in a transaction 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 completion of the sale, the director owned 31,326 shares of the company’s stock, valued at approximately $12,072,413.88. This trade represents a 5.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Justine Page sold 1,602 shares of the business’s 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 of the company’s stock, valued at approximately $6,514,884.36. The trade was a 8.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 61,644 shares of company stock worth $24,016,214 over the last quarter. 1.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Susquehanna reiterated a “positive” rating and set a $490.00 target price (up from $450.00) on shares of Broadcom in a research note on Thursday, May 28th. JPMorgan Chase & Co. increased their price target on Broadcom from $500.00 to $580.00 and gave the company an “overweight” rating in a research note on Thursday, June 4th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $545.00 price target (up from $430.00) on shares of Broadcom in a report on Thursday, May 14th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $525.00 price objective on shares of Broadcom in a research report on Thursday, June 4th. Finally, DA Davidson upped their price objective on shares of Broadcom from $375.00 to $400.00 and gave the company a “neutral” rating in a report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and a consensus price target of $493.24.

Broadcom Price Performance

Broadcom stock opened at $386.50 on Wednesday. Broadcom Inc. has a 12 month low of $273.00 and a 12 month high of $495.00. The stock’s 50 day moving average is $399.63 and its 200-day moving average is $365.90. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $1.84 trillion, a price-to-earnings ratio of 64.42, a PEG ratio of 0.66 and a beta of 1.45.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results 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 firm’s revenue for the quarter was up 47.9% compared to the same quarter last year. During the same period last year, the firm posted $1.58 EPS. Equities research analysts expect that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd were given a dividend of $0.65 per share. The ex-dividend date was Monday, June 22nd. This represents a $2.60 annualized dividend and a yield of 0.7%. Broadcom’s dividend payout ratio (DPR) is presently 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.