Broadcom Inc. $AVGO is Torray Investment Partners LLC’s 2nd Largest Position

Torray Investment Partners LLC increased its stake in Broadcom Inc. (NASDAQ:AVGO) by 9.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 99,470 shares of the semiconductor manufacturer’s stock after buying an additional 8,333 shares during the quarter. Broadcom comprises 4.5% of Torray Investment Partners LLC’s portfolio, making the stock its 2nd largest position. Torray Investment Partners LLC’s holdings in Broadcom were worth $30,787,000 as of its most recent filing with the SEC.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on AVGO shares. UBS Group set a $485.00 price target on shares of Broadcom and gave the stock a “buy” rating in a research note on Thursday, June 4th. Evercore reissued an “outperform” rating and issued a $582.00 price objective on shares of Broadcom in a research report on Tuesday, May 19th. Oppenheimer restated an “outperform” rating and set a $535.00 target price (up from $450.00) on shares of Broadcom in a research note on Thursday, June 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $525.00 target price on shares of Broadcom in a research report on Thursday, June 4th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $515.00 price target (up from $430.00) on shares of Broadcom in a research note on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $493.24.

Insider Buying and Selling at Broadcom

In related news, Director Gayla J. Delly sold 1,890 shares of the stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $385.38, for a total transaction of $728,368.20. Following the sale, the director owned 31,326 shares in the company, valued at $12,072,413.88. This represents a 5.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Harry L. You acquired 1,000 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were acquired at an average price of $373.57 per share, for a total transaction of $373,570.00. Following the purchase, the director owned 38,466 shares of the company’s stock, valued at $14,369,743.62. This trade represents a 2.67% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 61,644 shares of company stock worth $24,016,214 in the last quarter. 1.90% of the stock is currently owned by corporate insiders.

Broadcom Stock Performance

Shares of AVGO opened at $389.11 on Wednesday. The stock has a market capitalization of $1.85 trillion, a PE ratio of 64.85, a price-to-earnings-growth ratio of 0.67 and a beta of 1.45. The business’s fifty day moving average price is $403.86 and its 200 day moving average price is $364.80. 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 12-month low of $273.00 and a 12-month high of $495.00.

Broadcom (NASDAQ:AVGO) last released its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.04. The firm had revenue of $22.19 billion during the quarter, compared to analyst estimates of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The firm’s revenue for the quarter was up 47.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.58 earnings per share. Equities research analysts forecast that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Announces Dividend

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 $0.65 dividend. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. Broadcom’s payout ratio is 43.33%.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Evercore ISI said Broadcom’s multiyear agreement with Apple is strategically positive, as it strengthens Apple’s AI compute silicon efforts and extends Broadcom’s role as a key custom-chip partner. Broadcom Inc. (AVGO) Agreement a Strategic Positive for Apple, says Evercore ISI
• Positive Sentiment: Reports say Broadcom secured its role as a key Apple supplier through 2031, giving investors more confidence in a long-duration revenue stream. Broadcom Inc. (AVGO) Secures Role as Key Apple Supplier with Chip Deal through 2031
• Positive Sentiment: Morgan Stanley described Broadcom as a “core AI winner,” keeping the stock in focus as one of the main beneficiaries of AI infrastructure spending. Broadcom is a ‘core AI winner,’ even as MediaTek encroaches, Morgan Stanley says
• Neutral Sentiment: Additional commentary highlighted Broadcom as a major AI stock and a possible outperformer versus other chip names, which adds to the bullish narrative but does not change the near-term business outlook directly. Is Broadcom Inc. (AVGO) a Buy as Wall Street Analysts Look Optimistic?
• Negative Sentiment: There was also an insider-selling headline, which can weigh on sentiment even if it does not necessarily reflect a change in the company’s fundamentals. Insider Selling: Broadcom (NASDAQ:AVGO) Insider Sells $9,479,750.00 in Stock

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.