TritonPoint Partners LLC Makes New Investment in Broadcom Inc. $AVGO

TritonPoint Partners LLC bought a new position in Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, HoldingsChannel.com reports. The fund bought 6,518 shares of the semiconductor manufacturer’s stock, valued at approximately $2,256,000. Broadcom makes up approximately 1.2% of TritonPoint Partners LLC’s investment portfolio, making the stock its 22nd largest position.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Broadcom by 0.8% during 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. State Street Corp boosted its stake 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 valued at $65,788,194,000 after purchasing an additional 5,040,801 shares during the period. Geode Capital Management LLC boosted its stake in shares of Broadcom by 1.4% during 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. Norges Bank purchased a new stake in shares of Broadcom during the fourth quarter valued at approximately $24,252,196,000. Finally, Invesco Ltd. boosted its stake in shares of Broadcom by 1.8% during the third quarter. Invesco Ltd. now owns 39,149,651 shares of the semiconductor manufacturer’s stock valued at $12,915,861,000 after purchasing an additional 700,021 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Trading Up 3.1%

Broadcom stock opened at $393.94 on Tuesday. 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 $244.17 and a one year high of $495.00. The stock has a market capitalization of $1.87 trillion, a PE ratio of 65.66, a price-to-earnings-growth ratio of 0.67 and a beta of 1.41. The business’s fifty day moving average is $405.85 and its 200 day moving average is $363.29.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate 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 revenue for the quarter was up 47.9% on a year-over-year basis. During the same period last year, the firm posted $1.58 earnings per share. On average, sell-side analysts predict that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd will be paid a $0.65 dividend. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. Broadcom’s dividend payout ratio (DPR) is 43.33%.

Insider Transactions at Broadcom

In related news, Director Gayla J. Delly sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $358.31, for a total value of $358,310.00. Following the transaction, the director directly owned 32,352 shares of the company’s stock, valued at approximately $11,592,045.12. The trade was a 3.00% 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 Harry L. You purchased 1,000 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was acquired at an average cost of $373.57 per share, for a total transaction of $373,570.00. Following the completion of the acquisition, the director owned 38,466 shares in the company, valued at $14,369,743.62. This represents a 2.67% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have sold 51,233 shares of company stock valued at $18,125,134. Company insiders own 1.90% of the company’s stock.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Director Harry L. You bought 1,000 Broadcom shares in a disclosed SEC filing, a vote of confidence that can reassure investors about the company’s outlook. SEC Form 4 filing
• Positive Sentiment: Recent articles continue to frame Broadcom as a major beneficiary of the AI infrastructure buildout, with investors focusing on its custom compute, networking, and semiconductor exposure. Investopedia article
• Positive Sentiment: Broadcom was included in bullish commentary about “beaten down” AI infrastructure stocks, suggesting some investors see the recent pullback as a buying opportunity rather than a fundamental deterioration. 247WallSt article
• Positive Sentiment: Wall Street Zen reportedly upgraded Broadcom to Strong-Buy, adding to the bullish analyst tone around the stock. American Banking News article
• Neutral Sentiment: Some coverage compared Broadcom with other AI infrastructure names and noted that competitors may have stronger near-term upside, which could temper enthusiasm but does not change Broadcom’s long-term AI thesis. Zacks article
• Negative Sentiment: Recent market commentary said Broadcom’s stock pulled back after record quarterly results because investors were focused on cautious AI guidance and valuation concerns, which may be weighing on sentiment. Yahoo Finance article

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on AVGO shares. Cantor Fitzgerald restated an “overweight” rating and set a $525.00 target price on shares of Broadcom in a report on Thursday, June 4th. The Goldman Sachs Group reiterated a “buy” rating and issued a $525.00 price objective on shares of Broadcom in a report on Thursday, June 4th. Bank of America increased their price objective on Broadcom from $450.00 to $530.00 and gave the stock a “buy” rating in a report on Thursday, June 4th. Evercore reiterated an “outperform” rating and issued a $582.00 price objective on shares of Broadcom in a report on Tuesday, May 19th. Finally, Mizuho increased their price objective on Broadcom from $480.00 to $530.00 and gave the stock an “outperform” rating in a report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $490.13.

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.