Phillips Financial Management LLC Buys New Position in Broadcom Inc. $AVGO

Phillips Financial Management LLC bought a new stake in Broadcom Inc. (NASDAQ:AVGO) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 2,523 shares of the semiconductor manufacturer’s stock, valued at approximately $953,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Brighton Jones LLC increased its stake in Broadcom by 21.8% during the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock worth $6,882,000 after buying an additional 5,322 shares during the period. Revolve Wealth Partners LLC grew its stake in shares of Broadcom by 10.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock worth $1,854,000 after acquiring an additional 756 shares in the last quarter. United Bank increased its position in shares of Broadcom by 76.5% during the first quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock worth $392,000 after acquiring an additional 1,014 shares during the period. Sivia Capital Partners LLC raised its stake in shares of Broadcom by 10.1% in the second quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer’s stock valued at $3,499,000 after acquiring an additional 1,160 shares in the last quarter. Finally, Capital & Planning LLC boosted its holdings in Broadcom by 10.5% in the second quarter. Capital & Planning LLC now owns 3,983 shares of the semiconductor manufacturer’s stock valued at $1,098,000 after purchasing an additional 378 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AVGO has been the topic of several recent research reports. The Goldman Sachs Group restated a “buy” rating on shares of Broadcom in a report on Monday, August 3rd. JPMorgan Chase & Co. upped their target price on shares of Broadcom from $500.00 to $580.00 and gave the stock an “overweight” rating in a research note on Thursday, June 4th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $525.00 price target on shares of Broadcom in a research note on Thursday, June 4th. Benchmark boosted their price target on shares of Broadcom from $485.00 to $545.00 and gave the stock a “buy” rating in a report on Thursday, June 4th. Finally, Royal Bank Of Canada raised their price objective on shares of Broadcom from $360.00 to $400.00 and gave the company a “sector perform” rating in a report on Thursday, June 4th. Twenty-nine investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $491.97.

Insider Activity at Broadcom

In other news, 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 value of $10,033,250.00. Following the completion of the sale, the insider directly owned 194,989 shares of the company’s stock, valued at approximately $78,254,935.37. The trade was a 11.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gayla J. Delly sold 1,890 shares of the company’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $385.38, for a total value of $728,368.20. Following the completion of the sale, the director directly 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 SEC filing for this sale provides additional information. Over the last three months, insiders have sold 61,644 shares of company stock worth $24,016,214. Insiders own 1.90% of the company’s stock.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s prior experience losing a major customer offers some reassurance: after Apple reportedly planned to drop a key chip in 2023, Broadcom’s revenue nearly doubled over the following two fiscal years. This history may temper concerns that the company’s business would deteriorate quickly if a hyperscaler develops more of its own silicon. Broadcom Has Seen Its Biggest Customer Drop a Key Chip Before. History Says What the Stock Did Next.
• Neutral Sentiment: Broadcom and Marvell remain major suppliers in the custom AI-chip market, with demand from hyperscalers supporting the long-term opportunity. However, investors are focused on which company can deliver better performance at lower cost. Broadcom vs. Marvell Technology: 1 Critical Metric Decides the Better Custom AI Chip Stock
• Negative Sentiment: Broadcom’s planned roughly $60 billion AI financing arrangement is raising balance-sheet and credit concerns. Critics argue that funding customer deployments through structures that keep debt off Broadcom’s books could still leave the company exposed to customer concentration, repayment and demand risks. AVGO stock slips nearly 3% — Broadcom’s AI spending is pushing credit risks higher
• Negative Sentiment: Analysts and commentators question whether Broadcom can achieve its ambitious $100 billion AI-revenue target, particularly as the stock’s valuation leaves less room for execution mistakes. Broadcom: $100 Billion In AI Revenue Is A Lot To Ask
• Negative Sentiment: Marvell’s expanded custom-chip agreement with Google has intensified fears that Broadcom could lose share or pricing power in the hyperscaler market. The competitive threat has contributed to a decline in AVGO shares and increased scrutiny of upcoming AI guidance. Marvell Takes a Shot at Broadcom’s Throne With Google Deal
• Negative Sentiment: Semiconductor stocks broadly sold off ahead of NVIDIA’s results, with chip ETFs and peers such as Intel, AMD and Taiwan Semiconductor also weakening. This sector-wide de-risking is adding to AVGO-specific selling pressure. Semiconductor Stocks Slide Ahead of NVIDIA Earnings

Broadcom Stock Performance

Shares of AVGO opened at $358.76 on Tuesday. The company has a market capitalization of $1.71 trillion, a price-to-earnings ratio of 59.79, a price-to-earnings-growth ratio of 0.70 and a beta of 1.45. Broadcom Inc. has a 52-week low of $287.17 and a 52-week high of $495.00. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71. The stock has a 50 day moving average price of $387.86 and a 200 day moving average price of $375.37.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data 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. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The company had revenue of $22.19 billion for the quarter, compared to analysts’ expectations of $22.13 billion. During the same quarter last year, the company earned $1.58 earnings per share. The firm’s revenue for the quarter was up 47.9% on a year-over-year basis. Research analysts predict that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Dividend Announcement

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

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.