Assenagon Asset Management S.A. Buys 693,177 Shares of Broadcom Inc. $AVGO

Assenagon Asset Management S.A. increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 49.3% during the second quarter, HoldingsChannel.com reports. The fund owned 2,099,861 shares of the semiconductor manufacturer’s stock after purchasing an additional 693,177 shares during the period. Broadcom makes up 1.0% of Assenagon Asset Management S.A.’s holdings, making the stock its 14th largest position. Assenagon Asset Management S.A.’s holdings in Broadcom were worth $793,222,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in AVGO. Vanguard Group Inc. boosted its position in Broadcom by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer’s stock worth $167,064,997,000 after purchasing an additional 3,919,715 shares during the period. State Street Corp raised its position in shares of 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 purchasing an additional 5,040,801 shares during the period. Geode Capital Management LLC lifted its stake in shares of Broadcom by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 111,277,280 shares of the semiconductor manufacturer’s stock worth $38,396,634,000 after buying an additional 1,548,699 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Broadcom by 3.0% in the fourth 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 buying an additional 2,491,644 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Broadcom during the 4th quarter worth $24,252,196,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Up 0.5%

Shares of AVGO opened at $420.57 on Friday. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71. The company has a 50-day moving average price of $393.37 and a two-hundred day moving average price of $370.05. The stock has a market cap of $2.00 trillion, a price-to-earnings ratio of 70.10, a P/E/G 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.

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, 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 company 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 company’s revenue was up 47.9% compared to the same quarter last year. Equities analysts predict that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors 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 annualized dividend and a yield of 0.6%. Broadcom’s payout ratio is currently 43.33%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AVGO. Evercore reiterated an “outperform” rating and issued a $582.00 target price on shares of Broadcom in a research note on Tuesday, May 19th. UBS Group set a $485.00 target price on shares of Broadcom and gave the stock a “buy” rating in a research report on Thursday, June 4th. TD Cowen restated a “buy” rating and set a $500.00 price target on shares of Broadcom in a report on Thursday, June 4th. Benchmark lifted their price objective on Broadcom from $485.00 to $545.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. Finally, Bank of America boosted their price objective on Broadcom from $450.00 to $530.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. Twenty-eight research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus target price of $493.24.

Insider Buying and Selling

In related news, Director Harry L. You acquired 1,000 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was purchased at an average cost 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 of the company’s stock, valued at $14,369,743.62. The trade was a 2.67% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Justine Page sold 1,602 shares of the stock in a transaction on Monday, June 29th. The stock was sold at an average price of $373.86, for a total value of $598,923.72. Following the transaction, the director owned 17,426 shares of the company’s stock, valued at $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. Over the last ninety days, insiders have sold 61,644 shares of company stock valued at $24,016,214. 1.90% of the stock is currently owned by insiders.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom is viewed as a major beneficiary of the shift toward custom AI chips. Its application-specific integrated circuits, networking silicon and optical-connectivity products are increasingly important to hyperscalers building large AI data centers, supporting expectations for significant earnings growth through 2027. Broadcom Is Down 20% From Its All-Time High. Here’s Why It’s a Screaming Bargain.
• Positive Sentiment: Record semiconductor and AI-chip demand is keeping Broadcom in focus, while analysts and market commentators describe the stock as approaching a technical breakout. The broader semiconductor rally and strong AI infrastructure spending are providing a favorable sector backdrop. Why Is Broadcom in Focus as AI Chips Set Records?
• Positive Sentiment: Broadcom introduced new VMware vDefend and Avi Load Balancer capabilities designed to improve cybersecurity, performance and operational efficiency in private-cloud environments. The updates could strengthen its infrastructure-software offering as enterprises prepare for AI workloads. Broadcom Enables Enterprises to Strengthen Multi-Layer Cyber Defense
• Neutral Sentiment: Articles comparing Broadcom with Microsoft, AMD and Nvidia highlight its strategic position in AI infrastructure, but also show that investors are weighing different ways to gain AI exposure rather than responding to a new company-specific financial catalyst. Microsoft vs. Broadcom: Two AI Powerhouses, One Better Investment
• Negative Sentiment: Potential U.S. restrictions on Chinese AI components and optical transceivers could create supply-chain bottlenecks, raise deployment costs and delay data-center projects. Although domestic suppliers may benefit over time, Broadcom could face near-term uncertainty because its chips and networking components are part of the interconnected supply chain. Broadcom, Marvell and Nvidia Could Feel the Impact of a China AI Component Ban
• Negative Sentiment: Broadcom’s strong AI outlook is already reflected in a premium valuation, leaving the stock vulnerable to profit-taking if growth expectations, customer spending or supply capacity disappoint. Competition from Marvell, Astera Labs and other custom-chip vendors is another risk. Broadcom Valuation and Growth Outlook

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.