Johnson Investment Counsel Inc. Grows Stake in Broadcom Inc. $AVGO

Johnson Investment Counsel Inc. lifted its stake in Broadcom Inc. (NASDAQ:AVGO) by 14.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 402,688 shares of the semiconductor manufacturer’s stock after buying an additional 49,862 shares during the period. Broadcom makes up 1.1% of Johnson Investment Counsel Inc.’s portfolio, making the stock its 22nd biggest position. Johnson Investment Counsel Inc.’s holdings in Broadcom were worth $152,115,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of AVGO. Norges Bank acquired a new stake in Broadcom in the fourth quarter valued at approximately $24,252,196,000. Cardano Risk Management B.V. raised its stake in shares of Broadcom by 895.2% during 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 purchasing an additional 11,414,701 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in shares of Broadcom by 118.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 18,739,006 shares of the semiconductor manufacturer’s stock worth $5,799,889,000 after purchasing an additional 10,145,377 shares in the last quarter. State Street Corp lifted its position in shares of Broadcom by 2.7% during the fourth quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer’s stock worth $65,788,194,000 after purchasing an additional 5,040,801 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Broadcom by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer’s stock valued at $167,064,997,000 after purchasing an additional 3,919,715 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Broadcom news, Director Harry L. You purchased 1,000 shares of the stock in a transaction dated Thursday, June 11th. The shares were bought at an average cost of $373.57 per share, with a total value of $373,570.00. Following the completion of the acquisition, the director owned 38,466 shares of the company’s stock, valued at approximately $14,369,743.62. This trade represents a 2.67% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 25,000 shares of the business’s stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $401.33, for a total transaction of $10,033,250.00. Following the sale, the insider owned 194,989 shares in the company, valued at $78,254,935.37. This trade represents a 11.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 61,644 shares of company stock worth $24,016,214. 1.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AVGO. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Broadcom in a report on Monday, August 3rd. Dbs Bank raised shares of Broadcom to a “moderate buy” rating in a research report on Thursday, June 18th. Mizuho raised their target price on Broadcom from $480.00 to $530.00 and gave the company an “outperform” rating in a research note on Thursday, June 4th. JPMorgan Chase & Co. lifted their target price on Broadcom from $500.00 to $580.00 and gave the stock an “overweight” rating in a research report on Thursday, June 4th. Finally, UBS Group set a $485.00 price target on Broadcom and gave the stock a “buy” rating in a research note on Thursday, June 4th. Twenty-eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $493.24.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s custom AI accelerator and networking businesses remain major growth drivers. The company recently reported 47.9% year-over-year revenue growth and exceeded quarterly EPS and revenue expectations, while one analysis argues its combination of custom chips and data-center networking gives it durable AI exposure. Broadcom AI infrastructure analysis
• Positive Sentiment: TD Cowen reiterated a Buy rating and maintained a $500 price target, indicating that at least one major analyst views the recent weakness as an opportunity rather than a deterioration in Broadcom’s long-term outlook. TD Cowen Broadcom price target
• Positive Sentiment: Broader AI spending trends remain favorable for chip and infrastructure suppliers, including Broadcom, as companies increase investment in compute and connectivity. Anthropic’s reported growth and its infrastructure relationships also highlight potential demand for Broadcom custom silicon. Anthropic pre-IPO and Broadcom infrastructure
• Neutral Sentiment: Broadcom is scheduled to pay its regular quarterly dividend of $0.65 per share on September 30, providing income support but little immediate catalyst for the stock. Broadcom dividend announcement
• Negative Sentiment: Marvell Technology announced an agreement to help Google develop custom AI chips and received a potential $12.2 billion Google-linked warrant or equity option. Because Broadcom has been viewed as Google’s leading custom-chip partner, the deal raised concerns that Marvell could take share or weaken Broadcom’s negotiating position. Marvell Google custom AI chip deal
• Negative Sentiment: Investors remain concerned about financing conditions for AI infrastructure spending, Broadcom’s leverage and VMware-related issues, including a reported vCenter Syslog Server vulnerability. Comparisons with NVIDIA and Astera Labs also emphasize Broadcom’s higher perceived financial risk or less attractive growth profile. Broadcom VMware and financing concerns

Broadcom Trading Down 4.6%

Broadcom stock opened at $362.48 on Thursday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24. The firm’s 50-day moving average is $389.27 and its 200-day moving average is $374.61. Broadcom Inc. has a 1 year low of $281.87 and a 1 year high of $495.00. The company has a market cap of $1.72 trillion, a P/E ratio of 60.41, a PEG ratio of 0.73 and a beta of 1.45.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.04. The business had revenue of $22.19 billion for 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 quarterly revenue was up 47.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.58 EPS. On average, equities analysts expect that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders 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 of this dividend was Monday, June 22nd. Broadcom’s payout ratio is 43.33%.

Broadcom 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.