Summit Wealth Partners LLC Has $2.17 Million Stock Holdings in Broadcom Inc. $AVGO

Summit Wealth Partners LLC grew its position in Broadcom Inc. (NASDAQ:AVGO) by 52.8% during the first quarter, HoldingsChannel reports. The firm owned 7,007 shares of the semiconductor manufacturer’s stock after buying an additional 2,422 shares during the quarter. Summit Wealth Partners LLC’s holdings in Broadcom were worth $2,169,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on AVGO shares. Weiss Ratings raised Broadcom from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, June 9th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $500.00 price target on shares of Broadcom in a research report on Thursday, June 4th. Oppenheimer reiterated an “outperform” rating and set a $535.00 price target (up from $450.00) on shares of Broadcom in a report on Thursday, June 4th. Truist Financial increased their price objective on Broadcom from $545.00 to $550.00 and gave the company a “buy” rating in a research report on Thursday, June 4th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $525.00 price objective on shares of Broadcom in a research note on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $493.24.

Broadcom Stock Up 0.3%

AVGO stock opened at $381.30 on Thursday. Broadcom Inc. has a twelve month low of $262.66 and a twelve month 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 company has a market cap of $1.81 trillion, a PE ratio of 63.55, a price-to-earnings-growth ratio of 0.67 and a beta of 1.41. The business’s 50-day simple moving average is $412.37 and its 200 day simple moving average is $363.42.

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

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 22nd will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, June 22nd. Broadcom’s dividend payout ratio is presently 43.33%.

Insider Transactions at Broadcom

In other news, insider S. Ram Velaga sold 17,260 shares of the stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $352.12, for a total value of $6,077,591.20. Following the completion of the transaction, the insider owned 65,932 shares in the company, valued at approximately $23,215,975.84. This represents a 20.75% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Harry L. You acquired 1,000 shares of Broadcom stock in a transaction dated Thursday, June 11th. The shares were acquired 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 directly owned 38,466 shares in the company, valued at $14,369,743.62. This trade represents a 2.67% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 59,385 shares of company stock valued at $21,301,057 over the last 90 days. Corporate insiders own 1.90% of the company’s stock.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom and OpenAI unveiled Jalapeño, a custom AI inference chip that could expand Broadcom’s role in AI infrastructure and deepen its long-term partnership with OpenAI. Reuters: OpenAI unveils custom chip it designed with Broadcom to boost its AI infrastructure
• Positive Sentiment: Early testing suggests the new chip delivers better performance per watt, which supports Broadcom’s AI efficiency story and could improve adoption with hyperscale data-center customers. GlobeNewswire: OpenAI and Broadcom Unveil LLM-Optimized Intelligence Processor
• Neutral Sentiment: Broadcom raised its tender offer for senior notes to $3 billion, a financing move that may affect investor views on leverage and capital allocation more than near-term earnings. MSN: Broadcom raises tender offer for its senior notes to $3 billion
• Neutral Sentiment: Commentary around AI-chip sector volatility and whether the AI trade is cooling adds mixed context, but does not change Broadcom’s core AI growth narrative. Benzinga: Broadcom, OpenAI Unveil ‘Jalapeño’ AI Inference Chip
• Negative Sentiment: Some prior reports noted weakness in the broader semiconductor complex and concerns about AI infrastructure spending, which could limit upside if the sector selloff continues. Yahoo Finance: Broadcom (AVGO) Stock Trades Down, Here Is Why

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.