Interchange Capital Partners LLC Has $5.99 Million Stake in Broadcom Inc. $AVGO

Interchange Capital Partners LLC grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 88.5% in the 2nd quarter, Holdings Channel reports. The fund owned 15,861 shares of the semiconductor manufacturer’s stock after purchasing an additional 7,448 shares during the quarter. Broadcom accounts for 1.1% of Interchange Capital Partners LLC’s portfolio, making the stock its 15th biggest position. Interchange Capital Partners LLC’s holdings in Broadcom were worth $5,991,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Norges Bank bought a new stake in Broadcom during the 4th quarter worth approximately $24,252,196,000. Cardano Risk Management B.V. raised its holdings in Broadcom by 895.2% during the 4th quarter. Cardano Risk Management B.V. now owns 12,689,800 shares of the semiconductor manufacturer’s stock worth $4,391,940,000 after buying an additional 11,414,701 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in Broadcom by 118.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 18,739,006 shares of the semiconductor manufacturer’s stock worth $5,799,889,000 after buying an additional 10,145,377 shares during the period. State Street Corp lifted its stake in Broadcom by 2.7% in 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 buying an additional 5,040,801 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Broadcom by 0.8% in 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. Institutional investors and hedge funds own 76.43% of the company’s stock.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s custom-silicon and XPU opportunity remains a key long-term catalyst. Analysts and commentators point to accelerating AI infrastructure spending, major customer agreements, and potential growth in custom chips and networking. Broadcom: XPU Growth Trajectory Underestimated, Stock A Bargain
• Positive Sentiment: Wall Street’s average price target implies substantial upside from recent trading levels, supporting the bullish view that the market may be underestimating Broadcom’s AI growth trajectory. Broadcom is Down Over 3 Months: One Wall Street Pro Sees 60%+ Gains Ahead
• Positive Sentiment: Continued institutional interest, including purchases by GAMCO Investors and Cathie Wood’s reported investment, provides some additional support for the stock’s long-term AI investment case. Cathie Wood buys $16.2 million of Broadcom

Broadcom Stock Performance

Shares of AVGO opened at $393.05 on Friday. The stock has a market capitalization of $1.87 trillion, a price-to-earnings ratio of 65.51, a PEG ratio of 0.80 and a beta of 1.45. Broadcom Inc. has a 12 month low of $281.87 and a 12 month high of $495.00. The firm has a fifty day simple moving average of $389.79 and a 200 day simple moving average of $373.30. 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 (NASDAQ:AVGO) last issued 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 net margin of 38.85% and a return on equity of 41.61%. The firm had revenue of $22.19 billion for the quarter, compared to analyst estimates of $22.13 billion. During the same period in the previous year, the business earned $1.58 EPS. The company’s revenue was up 47.9% compared to the same quarter last year. Research analysts forecast that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Announces Dividend

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

Analyst Upgrades and Downgrades

AVGO has been the subject of several research reports. Weiss Ratings downgraded shares of Broadcom from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, July 30th. Benchmark boosted their price objective on shares of Broadcom from $485.00 to $545.00 and gave the company a “buy” rating in a research report on Thursday, June 4th. Morgan Stanley set a $502.00 price objective on shares of Broadcom and gave the company an “overweight” rating in a research report on Thursday, June 4th. Evercore reaffirmed an “outperform” rating and issued a $582.00 target price on shares of Broadcom in a research note on Tuesday, May 19th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $500.00 target price on shares of Broadcom in a report on Thursday, June 4th. Twenty-eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $493.24.

Insiders Place Their Bets

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 stock was sold at an average price of $385.38, for a total transaction of $728,368.20. Following the completion of the sale, the director owned 31,326 shares of the company’s stock, valued at $12,072,413.88. This trade represents a 5.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Harry L. You acquired 1,000 shares of Broadcom stock in a transaction on Thursday, June 11th. The shares were bought at an average cost of $373.57 per share, with a total value of $373,570.00. Following the completion of the transaction, the director owned 38,466 shares of the company’s stock, valued at approximately $14,369,743.62. This trade represents a 2.67% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders sold a total of 61,644 shares of company stock valued at $24,016,214 over the last 90 days. 1.90% of the stock is owned by insiders.

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.