Sumitomo Life Insurance Co. Takes $48.69 Million Position in Broadcom Inc. $AVGO

Sumitomo Life Insurance Co. bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the second quarter, Holdings Channel reports. The institutional investor bought 128,887 shares of the semiconductor manufacturer’s stock, valued at approximately $48,687,000. Broadcom accounts for 0.8% of Sumitomo Life Insurance Co.’s portfolio, making the stock its 13th biggest holding.

Several other hedge funds and other institutional investors have also modified their holdings of AVGO. ROSS JOHNSON & Associates LLC boosted its stake in Broadcom by 1,320.0% in the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 66 shares during the period. SWAN Capital LLC raised its position in shares of Broadcom by 261.9% during the 4th quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 55 shares during the period. Networth Advisors LLC lifted its holdings in shares of Broadcom by 546.2% in the 1st quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 71 shares during the last quarter. Harborfront Financial Group LLC bought a new stake in shares of Broadcom in the 2nd quarter worth approximately $38,000. Finally, Cherry Tree Wealth Management LLC boosted its position in Broadcom by 44.9% during the 4th quarter. Cherry Tree Wealth Management LLC now owns 129 shares of the semiconductor manufacturer’s stock valued at $45,000 after purchasing an additional 40 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AVGO has been the subject of several recent research reports. Wells Fargo & Company restated an “overweight” rating and set a $545.00 price target (up from $430.00) on shares of Broadcom in a research report on Thursday, May 14th. Cantor Fitzgerald reissued an “overweight” rating and set a $525.00 target price on shares of Broadcom in a research note on Thursday, June 4th. Oppenheimer restated an “outperform” rating and issued a $535.00 target price (up from $450.00) on shares of Broadcom in a research report on Thursday, June 4th. DA Davidson raised their price target on shares of Broadcom from $375.00 to $400.00 and gave the company a “neutral” rating in a research note on Thursday, June 4th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Broadcom in a report on Monday, August 3rd. Twenty-nine analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $491.97.

Insider Activity

In other Broadcom news, Director Harry L. You bought 1,000 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were bought at an average price of $373.57 per share, for a total transaction of $373,570.00. Following the acquisition, the director directly 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Justine Page sold 1,602 shares of the stock in a transaction that occurred on 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 sale, the director owned 17,426 shares of the company’s stock, valued at approximately $6,514,884.36. The trade was a 8.42% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 61,644 shares of company stock valued at $24,016,214. 1.90% of the stock is currently owned by insiders.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom unveiled VMware Private AI Cloud, including VMware AI Factory, AI-ready data foundations and support for more than 150 commercial and open-source models. The platform is designed to reduce AI infrastructure deployment from weeks to hours, improve GPU utilization and give enterprises greater control over AI costs. Broadcom launches private AI cloud tools
• Positive Sentiment: New VMware capabilities—AgentMinder, vDefend and Avi Load Balancer—target security, identity, governance and observability for autonomous AI agents. The launches could strengthen Broadcom’s position in enterprise hybrid-cloud and private-AI deployments while creating additional infrastructure-software opportunities. Broadcom agentic AI security announcement
• Positive Sentiment: Broadcom also launched TrueSource, a commercially supported portfolio of verified open-source software covering Spring, Java, Python, Node.js, PostgreSQL, MySQL and other data engines. The offering may expand recurring software revenue and address growing enterprise demand for secure software supply chains. Broadcom TrueSource announcement
• Neutral Sentiment: Analysts expect another sharp increase in quarterly results, with consensus estimates cited near $29.4 billion in revenue and $3.24 in EPS. Investors will focus on AI-chip demand, hyperscaler custom-ASIC growth, VMware execution, margins and forward guidance when AVGO reports after the market closes on September 2. Broadcom Q3 earnings preview
• Neutral Sentiment: Optimistic coverage points to a median analyst price target of $525 and potential upside from backlog strength, while technical commentary identifies the current area as important support. However, the stock’s reaction may depend more on results and guidance than on existing bullish targets. Broadcom Wall Street outlook
• Negative Sentiment: Semiconductor shares broadly weakened as a global bond selloff pushed long-term yields higher, pressuring high-multiple technology stocks. Broadcom also faces elevated expectations, a valuation near 62 times earnings, margin concerns and competitive pressure from Nvidia, Nutanix and Microsoft. Reported insider activity is heavily weighted toward sales, adding another cautionary signal. Semiconductor stocks and rising yields

Broadcom Price Performance

Shares of Broadcom stock opened at $369.68 on Wednesday. Broadcom Inc. has a 52 week low of $287.17 and a 52 week high of $495.00. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. The stock has a market cap of $1.76 trillion, a PE ratio of 61.61, a price-to-earnings-growth ratio of 0.71 and a beta of 1.44. The company’s 50-day moving average price is $384.43 and its two-hundred day moving average price is $376.88.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $22.13 billion. During the same period last year, the company posted $1.58 EPS. The company’s revenue was up 47.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

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.