Apollon Wealth Management LLC Purchases 16,452 Shares of Broadcom Inc. $AVGO

Apollon Wealth Management LLC grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 6.1% during the 1st quarter, Holdings Channel reports. The fund owned 287,546 shares of the semiconductor manufacturer’s stock after purchasing an additional 16,452 shares during the period. Broadcom makes up about 1.4% of Apollon Wealth Management LLC’s holdings, making the stock its 10th largest holding. Apollon Wealth Management LLC’s holdings in Broadcom were worth $88,998,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Brighton Jones LLC increased its holdings in shares of Broadcom by 21.8% during the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock valued at $6,882,000 after purchasing an additional 5,322 shares in the last quarter. Revolve Wealth Partners LLC lifted its stake in shares of Broadcom by 10.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock valued at $1,854,000 after purchasing an additional 756 shares during the period. United Bank boosted its holdings in 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 buying an additional 1,014 shares in the last quarter. Sivia Capital Partners LLC boosted its holdings in Broadcom by 10.1% during the second quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer’s stock worth $3,499,000 after buying an additional 1,160 shares in the last quarter. Finally, Capital & Planning LLC grew its position in Broadcom by 10.5% during the second quarter. Capital & Planning LLC now owns 3,983 shares of the semiconductor manufacturer’s stock valued at $1,098,000 after buying an additional 378 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Wall Street remains upbeat on Broadcom’s AI growth story, with UBS reaffirming a Buy rating and $485 target on strong AI ASIC demand tied to customers like OpenAI and Anthropic. UBS Reaffirms Buy Rating on Broadcom (AVGO) Amid AI ASIC Demand and OpenAI, Anthropic Growth
• Positive Sentiment: Several recent pieces point to Broadcom’s expanding role in custom AI silicon and its OpenAI-related accelerator work, reinforcing the long-term revenue opportunity from AI infrastructure spending.
• Positive Sentiment: Analysts continue to view recent weakness as a buying opportunity, with multiple firms maintaining bullish targets well above the current share price.
• Neutral Sentiment: Commentary this week also highlighted Broadcom as a major beneficiary of the broader semiconductor and AI trade, but much of that optimism simply reiterates an already well-known investment thesis.
• Negative Sentiment: Director Justine Page sold 1,602 shares at $373.86, adding to recent insider-selling headlines that can make investors cautious. SEC Form 4 filing for Justine Page sale
• Negative Sentiment: Broadcom’s post-earnings pullback has continued to draw attention, as investors worry the company’s strong results and guidance still weren’t enough to satisfy very high expectations.

Wall Street Analysts Forecast Growth

AVGO has been the subject of a number of analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $525.00 price objective on shares of Broadcom in a research report on Thursday, June 4th. The Goldman Sachs Group restated a “buy” rating and set a $525.00 target price on shares of Broadcom in a research report on Thursday, June 4th. Morgan Stanley set a $502.00 price target on Broadcom and gave the company an “overweight” rating in a research note on Thursday, June 4th. Evercore reaffirmed an “outperform” rating and issued a $582.00 price target on shares of Broadcom in a report on Tuesday, May 19th. Finally, Erste Group Bank upgraded Broadcom from a “hold” rating to a “buy” rating in a research report on Friday, June 5th. One equities research 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.com, Broadcom presently has an average rating of “Moderate Buy” and a consensus price target of $493.24.

Insider Activity

In other Broadcom news, insider Mark David Brazeal sold 4,825 shares of Broadcom stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $394.91, for a total value of $1,905,440.75. Following the completion of the transaction, the insider directly owned 269,989 shares of the company’s stock, valued at $106,621,355.99. The trade was a 1.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider S. Ram Velaga sold 17,260 shares of the company’s stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $352.12, for a total transaction of $6,077,591.20. Following the sale, the insider directly owned 65,932 shares in the company, valued at approximately $23,215,975.84. The trade was a 20.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 60,987 shares of company stock worth $21,899,980 in the last quarter. Insiders own 1.90% of the company’s stock.

Broadcom Price Performance

AVGO stock opened at $360.45 on Friday. Broadcom Inc. has a 1 year low of $269.58 and a 1 year high of $495.00. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01. The firm has a market capitalization of $1.71 trillion, a PE ratio of 60.08, a price-to-earnings-growth ratio of 0.65 and a beta of 1.45. The business has a 50 day simple moving average of $409.17 and a 200-day simple moving average of $362.34.

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

Broadcom Dividend Announcement

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