Renaissance Technologies LLC Grows Stock Position in Broadcom Inc. $AVGO

Renaissance Technologies LLC raised its position in Broadcom Inc. (NASDAQ:AVGO) by 89,191.0% in the 1st quarter, Holdings Channel reports. The fund owned 793,797 shares of the semiconductor manufacturer’s stock after purchasing an additional 792,908 shares during the period. Broadcom accounts for 0.4% of Renaissance Technologies LLC’s holdings, making the stock its 29th biggest holding. Renaissance Technologies LLC’s holdings in Broadcom were worth $245,685,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC increased its position in shares of Broadcom by 21.8% during the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock worth $6,882,000 after acquiring an additional 5,322 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in Broadcom by 10.4% in the fourth 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 last quarter. United Bank grew its stake in Broadcom by 76.5% during the 1st quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock valued at $392,000 after purchasing an additional 1,014 shares in the last quarter. Sivia Capital Partners LLC grew its stake in Broadcom by 10.1% during the 2nd 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 in the last quarter. Finally, Capital & Planning LLC increased 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 worth $1,098,000 after purchasing an additional 378 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

Shares of AVGO opened at $383.22 on Tuesday. The firm has a market cap of $1.82 trillion, a price-to-earnings ratio of 63.87, a PEG ratio of 0.73 and a beta of 1.45. The stock has a 50 day moving average of $396.67 and a 200-day moving average of $367.13. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. Broadcom Inc. has a 52 week low of $281.61 and a 52 week high of $495.00.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $22.13 billion. During the same period in the prior year, the company posted $1.58 EPS. The business’s revenue was up 47.9% compared to the same quarter last year. As a group, analysts forecast that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, June 22nd. Broadcom’s dividend payout ratio is 43.33%.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Alphabet’s increased AI spending is a major catalyst. Alphabet reportedly plans $195 billion to $205 billion in capital expenditures, while its cloud business posted strong growth. Because Broadcom supplies Alphabet with custom AI processors and related infrastructure, the spending outlook points to potentially higher demand for Broadcom’s technology. Broadcom May Be the Biggest Winner From Alphabet’s Earnings
• Positive Sentiment: Custom-silicon demand and new customer wins are strengthening the growth story. Investor commentary highlighted Broadcom’s momentum in custom AI chips, with demand from large technology companies helping drive expectations for continued expansion. Broadcom Rose on Strong Custom Silicon Demand and New Client Wins
• Positive Sentiment: Broadcom is viewed as a key beneficiary of data-center infrastructure spending. Analysts and financial writers point to its AI networking, custom accelerators and semiconductor infrastructure products as ways to participate in AI growth beyond the dominant GPU market. 3 Top AI Stocks to Buy Now With Data Center Infrastructure Spending Set to Surge
• Neutral Sentiment: Broadcom’s expanded Samsung relationship may improve supply visibility. J.P. Morgan said Samsung is expected to provide most of Broadcom’s memory needs through 2030, supporting execution but also increasing reliance on a major supplier. Broadcom’s Expanded Samsung Pact Shows AI Trade Is Still All About Memory
• Negative Sentiment: High valuation and AI capital-spending concerns remain the principal risks. With a lofty earnings multiple and the stock below its 50-day average, investors may be sensitive to any evidence that hyperscalers are slowing or reassessing AI investment. Recent coverage frames potential capex fears as a buying opportunity, but the risk could still create volatility. Broadcom’s The Perfect Buy as Capex Fears Materialize

Analysts Set New Price Targets

AVGO has been the topic of a number of recent analyst reports. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $525.00 target price on shares of Broadcom in a research report on Thursday, June 4th. Weiss Ratings raised shares of Broadcom from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, July 15th. KeyCorp restated an “overweight” rating and issued a $575.00 price target (up from $500.00) on shares of Broadcom 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, Dbs Bank raised shares of Broadcom to a “moderate buy” rating in a report on Thursday, June 18th. Twenty-eight investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $493.24.

Insider Buying and Selling at Broadcom

In other Broadcom news, 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 purchased at an average price of $373.57 per share, for a total transaction of $373,570.00. Following the completion of the purchase, the director directly owned 38,466 shares in the company, valued at $14,369,743.62. The trade was a 2.67% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Justine Page sold 1,602 shares of the firm’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $373.86, for a total transaction of $598,923.72. Following the completion of the transaction, the director directly owned 17,426 shares in the company, valued at $6,514,884.36. This represents a 8.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 61,644 shares of company stock valued at $24,016,214. Corporate insiders own 1.90% of the company’s 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.