Jupiter Wealth Management LLC Takes Position in Broadcom Inc. $AVGO

Jupiter Wealth Management LLC purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGO) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 29,849 shares of the semiconductor manufacturer’s stock, valued at approximately $11,275,000. Broadcom accounts for approximately 4.5% of Jupiter Wealth Management LLC’s portfolio, making the stock its 7th biggest holding.

Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Broadcom by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer’s stock worth $167,064,997,000 after purchasing an additional 3,919,715 shares during the period. State Street Corp raised its position in shares of Broadcom by 2.7% in the fourth quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer’s stock valued at $65,788,194,000 after purchasing an additional 5,040,801 shares during the period. Geode Capital Management LLC raised its position in shares of Broadcom by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 111,277,280 shares of the semiconductor manufacturer’s stock valued at $38,396,634,000 after purchasing an additional 1,548,699 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Broadcom by 3.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 85,546,083 shares of the semiconductor manufacturer’s stock valued at $29,607,500,000 after buying an additional 2,491,644 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Broadcom during the 4th quarter valued at approximately $24,252,196,000. 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.

Analyst Ratings Changes

A number of research firms recently weighed in on AVGO. Truist Financial lifted their price objective on shares of Broadcom from $545.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. Evercore restated an “outperform” rating and set a $582.00 target price on shares of Broadcom in a research report on Tuesday, May 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $525.00 price target on shares of Broadcom in a report on Thursday, June 4th. DA Davidson boosted their price objective on Broadcom from $375.00 to $400.00 and gave the company a “neutral” rating in a research note on Thursday, June 4th. Finally, Zacks Research cut Broadcom from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 21st. Twenty-nine equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $491.97.

Broadcom Stock Up 0.4%

Shares of NASDAQ:AVGO opened at $370.34 on Tuesday. The firm has a fifty day moving average price of $384.64 and a two-hundred day moving average price of $376.70. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01. Broadcom Inc. has a one year low of $287.17 and a one year high of $495.00. The company has a market cap of $1.76 trillion, a price-to-earnings ratio of 61.72, a PEG ratio of 0.70 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. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The firm had revenue of $22.19 billion for the quarter, compared to analysts’ expectations of $22.13 billion. During the same quarter in the prior year, the firm posted $1.58 earnings per share. The business’s quarterly revenue was up 47.9% on a year-over-year basis. Analysts anticipate that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Insiders Place Their Bets

In other Broadcom news, insider Mark David Brazeal sold 25,000 shares of the company’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 transaction, the insider directly owned 194,989 shares in the company, valued at $78,254,935.37. This represents a 11.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Justine Page sold 1,602 shares of the firm’s stock in a transaction dated 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 sale, the director directly owned 17,426 shares in the company, valued at approximately $6,514,884.36. The trade was a 8.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 61,644 shares of company stock valued at $24,016,214 in the last ninety days. Corporate insiders own 1.90% of the company’s stock.

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.