Texas Capital Bank Wealth Management Services Inc Purchases Shares of 16,905 Broadcom Inc. $AVGO

Texas Capital Bank Wealth Management Services Inc acquired a new position in shares of Broadcom Inc. (NASDAQ:AVGO) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 16,905 shares of the semiconductor manufacturer’s stock, valued at approximately $6,386,000.

A number of other hedge funds have also made changes to their positions in AVGO. Cornerstone Advisors LLC acquired a new position in shares of Broadcom during the 2nd quarter valued at $92,522,000. Tortoise Investment Management LLC acquired a new stake in Broadcom in the 2nd quarter valued at $893,000. Aegis Wealth Management LLC purchased a new position in Broadcom in the second quarter valued at about $850,000. Banco BTG Pactual S.A. acquired a new position in shares of Broadcom during the second quarter worth about $26,581,000. Finally, UNIVEST FINANCIAL Corp acquired a new position in shares of Broadcom during the second quarter worth about $52,988,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on AVGO shares. Erste Group Bank reiterated a “hold” rating on shares of Broadcom in a report on Tuesday, July 7th. Benchmark upped their price target on Broadcom from $485.00 to $545.00 and gave the stock a “buy” rating in a report on Thursday, June 4th. Oppenheimer reiterated an “outperform” rating and set a $535.00 price objective (up from $450.00) on shares of Broadcom in a research note on Thursday, June 4th. Truist Financial boosted their target price on shares of Broadcom from $545.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. Finally, Zacks Research downgraded shares of Broadcom from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. Twenty-nine research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $491.97.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: OpenAI chip partnership highlights custom-AI opportunity. Broadcom reportedly handled the physical implementation and supplied key technology for OpenAI’s “Jalapeño” inference chip, which OpenAI says can deliver up to 1.9 times more AI work per watt than comparison systems. The project reinforces Broadcom’s role as a leading provider of custom AI silicon and networking infrastructure. OpenAI Built an Nvidia-Beating Inference Chip in Nine Months
• Positive Sentiment: AI semiconductor momentum remains the key growth driver. Analysts point to accelerating demand for Broadcom’s custom XPUs, networking products, and AI data-center infrastructure, although NVIDIA and AMD are increasing competition. Broadcom Rides AI Semiconductor Growth
• Positive Sentiment: Kyndryl alliance supports VMware and private-cloud growth. The partnership expands Broadcom’s VMware Cloud Foundation reach among global enterprises, potentially strengthening recurring software revenue and demand for secure private-cloud modernization. New Kyndryl Partnership Strengthens Private Cloud and AI Growth Strategy
• Positive Sentiment: Brokerage support and institutional buying add confidence. BMO initiated coverage with an Outperform rating and a $455 target, while ARK Investment Management purchased 57,705 AVGO shares across three funds. BMO Starts Broadcom at Outperform With $455 Target
• Neutral Sentiment: NVIDIA’s earnings lifted the broader chip sector. Broadcom traded higher alongside semiconductor stocks, while investors also looked ahead to Broadcom’s next earnings report for evidence that AI demand is translating into sustained revenue and cash-flow growth. Broadcom Stock Making Moves Ahead of Earnings
• Neutral Sentiment: RBC reaffirmed a Sector Perform rating but set a $400 price target, implying moderate upside while signaling that much of the AI optimism may already be reflected in the shares.
• Negative Sentiment: Valuation and AI financing risks remain concerns. After a roughly sevenfold five-year gain, some analysis argues that Broadcom’s valuation depends heavily on continued AI growth. Debt-funded infrastructure spending and reliance on a limited group of major customers could increase downside risk if customer plans or AI investment slow. Broadcom Stock May Trade at a Discount After AI Debt Concerns

Insider Transactions at Broadcom

In related news, insider Mark David Brazeal sold 25,000 shares of the firm’s stock in a transaction on Friday, July 10th. The stock was sold at an average price of $401.33, for a total transaction of $10,033,250.00. Following the transaction, the insider directly owned 194,989 shares in the company, valued at $78,254,935.37. This trade represents a 11.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Justine Page sold 1,602 shares of the business’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $373.86, for a total transaction of $598,923.72. Following 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 disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 61,644 shares of company stock worth $24,016,214. 1.90% of the stock is owned by corporate insiders.

Broadcom Stock Up 4.5%

AVGO stock opened at $371.54 on Friday. 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 firm has a 50 day simple moving average of $385.92 and a 200-day simple moving average of $376.31. The company has a market capitalization of $1.77 trillion, a P/E ratio of 61.92, a PEG ratio of 0.68 and a beta of 1.45. Broadcom Inc. has a twelve month low of $287.17 and a twelve month high of $495.00.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.04. The firm had revenue of $22.19 billion for the quarter, compared to the consensus estimate of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The firm’s revenue was up 47.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.58 EPS. On average, equities research analysts predict 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. Investors of record on Monday, June 22nd were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Monday, June 22nd. Broadcom’s payout ratio is currently 43.33%.

Broadcom Company 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.