Chicago Partners Investment Group LLC Has $13.76 Million Stake in Broadcom Inc. $AVGO

Chicago Partners Investment Group LLC raised its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 69.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 44,459 shares of the semiconductor manufacturer’s stock after purchasing an additional 18,170 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Broadcom were worth $13,761,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings 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 buying an additional 3,919,715 shares in the last quarter. State Street Corp lifted its stake in Broadcom by 2.7% in the 4th quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer’s stock worth $65,788,194,000 after acquiring an additional 5,040,801 shares in the last quarter. Geode Capital Management LLC lifted its stake in Broadcom by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 111,277,280 shares of the semiconductor manufacturer’s stock worth $38,396,634,000 after acquiring an additional 1,548,699 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in 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 worth $29,607,500,000 after acquiring an additional 2,491,644 shares during the period. Finally, Norges Bank acquired a new stake in Broadcom during the 4th quarter worth about $24,252,196,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of research reports. Truist Financial upped their target price on Broadcom from $545.00 to $550.00 and gave the company a “buy” rating in a report on Thursday, June 4th. TD Cowen reissued a “buy” rating and issued a $500.00 price target on shares of Broadcom in a research report on Thursday, June 4th. Citigroup restated a “buy” rating on shares of Broadcom in a report on Thursday, June 4th. KeyCorp reaffirmed an “overweight” rating and set a $575.00 price objective (up from $500.00) on shares of Broadcom in a research report on Thursday, June 4th. Finally, Evercore reiterated an “outperform” rating and issued a $582.00 price objective on shares of Broadcom in a research note on Tuesday, May 19th. One 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 MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $493.24.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom announced a long-term strategic commitment with Standard Chartered to modernize global banking infrastructure using a secure private cloud foundation, highlighting another enterprise customer win and supporting the company’s recurring infrastructure-software and semiconductor growth story. Standard Chartered Selects Broadcom to Deliver Secure, Always-On Banking Services at Global Scale
• Positive Sentiment: Multiple commentaries framed Broadcom as a core AI beneficiary, with articles saying its AI moat is expanding and that it remains one of the biggest winners from AI infrastructure spending. Broadcom’s AI Moat Keeps Expanding
• Positive Sentiment: Analysts have been boosting price targets despite recent weakness, suggesting Wall Street still expects meaningful upside if Broadcom’s AI and custom-chip momentum continues. As Shares Fall, Analyst Are Boosting Their Broadcom Price Targets
• Neutral Sentiment: Broadcom remains a frequent topic in bullish valuation pieces and long-term price-prediction articles, but these are mainly sentiment drivers rather than immediate catalysts. Price Prediction: Nvidia, AMD & Broadcom-Our Bold Price Predictions for 2029
• Negative Sentiment: Semiconductor shares sold off broadly on worries that AI capex growth may be slowing, and Broadcom was caught up in the sector-wide decline. Marvell Drops 8% as AI Capex Slowdown Fears Weigh on Chips; Broadcom, AMD, and Intel Slide
• Negative Sentiment: An insider sale by Broadcom executive Mark David Brazeal also weighed on sentiment, as investors often view large insider selling as a caution sign even when fundamentals remain strong. Broadcom Inc. (NASDAQ:AVGO) Insider Mark David Brazeal Sells 25,000 Shares

Insider Activity

In other Broadcom news, Director Gayla J. Delly sold 1,890 shares of the firm’s stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $385.38, for a total value of $728,368.20. Following the sale, the director directly owned 31,326 shares in the company, valued at $12,072,413.88. This trade represents a 5.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Justine Page sold 1,602 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $373.86, for a total value of $598,923.72. Following the sale, the director owned 17,426 shares in the company, valued at approximately $6,514,884.36. This represents a 8.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 61,644 shares of company stock valued at $24,016,214 over the last three months. Corporate insiders own 1.90% of the company’s stock.

Broadcom Stock Performance

AVGO opened at $374.45 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24. The company has a market cap of $1.78 trillion, a PE ratio of 62.41, a price-to-earnings-growth ratio of 0.69 and a beta of 1.45. The stock has a 50-day moving average of $402.47 and a 200-day moving average of $365.27. Broadcom Inc. has a 52-week low of $273.00 and a 52-week high of $495.00.

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

Broadcom Announces Dividend

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

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.