OneAscent Family Office LLC Makes New $3.44 Million Investment in Broadcom Inc. $AVGO

OneAscent Family Office LLC acquired a new stake in Broadcom Inc. (NASDAQ:AVGO) during the second quarter, Holdings Channel.com reports. The fund acquired 9,117 shares of the semiconductor manufacturer’s stock, valued at approximately $3,444,000. Broadcom makes up approximately 1.7% of OneAscent Family Office LLC’s holdings, making the stock its 11th biggest position.

A number of other hedge funds have also recently made changes to their positions in the business. Cornerstone Advisors LLC purchased a new stake in Broadcom in the 2nd quarter valued at $92,522,000. Bank of America Corp DE boosted its holdings in Broadcom by 1.5% during the 1st quarter. Bank of America Corp DE now owns 58,737,097 shares of the semiconductor manufacturer’s stock worth $18,179,719,000 after acquiring an additional 894,564 shares during the last quarter. Bartlett & CO. Wealth Management LLC grew its stake in shares of Broadcom by 129.3% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 110,048 shares of the semiconductor manufacturer’s stock worth $34,061,000 after acquiring an additional 62,050 shares in the last quarter. First Bank & Trust raised its holdings in shares of Broadcom by 17.2% in the second quarter. First Bank & Trust now owns 10,503 shares of the semiconductor manufacturer’s stock valued at $3,968,000 after purchasing an additional 1,545 shares during the last quarter. Finally, Fifth Lane Capital LP raised its holdings in shares of Broadcom by 77.8% in the fourth quarter. Fifth Lane Capital LP now owns 4,000 shares of the semiconductor manufacturer’s stock valued at $1,384,000 after purchasing an additional 1,750 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related 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 acquired at an average price of $373.57 per share, with a total value of $373,570.00. Following the acquisition, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Mark David Brazeal sold 25,000 shares of the firm’s stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $401.33, for a total value of $10,033,250.00. Following the completion of the transaction, the insider owned 194,989 shares of the company’s stock, valued at approximately $78,254,935.37. This represents a 11.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 61,644 shares of company stock valued at $24,016,214 over the last three months. Insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AVGO. Jefferies Financial Group set a $550.00 price target on shares of Broadcom and gave the stock a “buy” rating in a report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $515.00 price objective (up from $430.00) on shares of Broadcom in a research note on Thursday, June 4th. Wells Fargo & Company reissued an “overweight” rating and set a $545.00 target price (up from $430.00) on shares of Broadcom in a research report on Thursday, May 14th. Truist Financial upped their target price on Broadcom from $545.00 to $550.00 and gave the company a “buy” rating in a report on Thursday, June 4th. Finally, JPMorgan Chase & Co. increased their price target on Broadcom from $500.00 to $580.00 and gave the company an “overweight” rating in a research report on Thursday, June 4th. Twenty-nine analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and a consensus target price of $491.97.

Broadcom Stock Performance

NASDAQ AVGO opened at $370.34 on Tuesday. The company’s 50 day moving average is $384.64 and its 200-day moving average is $376.70. Broadcom Inc. has a 12-month low of $287.17 and a 12-month high of $495.00. 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 firm has a market cap of $1.76 trillion, a P/E ratio of 61.72, a price-to-earnings-growth ratio of 0.70 and a beta of 1.45.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, topping 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 company had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $22.13 billion. During the same period last year, the firm earned $1.58 EPS. Broadcom’s revenue for the quarter was up 47.9% on a year-over-year basis. Sell-side analysts predict that Broadcom Inc. will post 10.24 earnings per share for the current year.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Wall Street expects exceptional growth, with consensus estimates calling for approximately $29.43 billion in revenue and $3.24 in EPS, representing year-over-year growth of roughly 84.5% and 91.7%, respectively. BakerAvenue strategist King Lip has called AVGO a “top pick” ahead of the report. Broadcom stock dubbed a top pick ahead of Q3 earnings
• Positive Sentiment: Broadcom announced VMware AI Factory, which is designed to reduce private AI deployment from weeks to hours, pool GPU capacity, and provide model governance and cost controls. The initiative supports more than 150 AI models and broadens Broadcom’s opportunity in enterprise AI infrastructure. Broadcom Announces VMware AI Factory
• Positive Sentiment: New AgentMinder, VMware vDefend and Avi Load Balancer capabilities target identity, Zero Trust security, monitoring and governance for autonomous AI agents. These offerings could strengthen Broadcom’s VMware software platform and help enterprises deploy sensitive AI workloads in private clouds. Broadcom Delivers End-to-End Security for Agentic AI
• 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 technologies. The offering may create additional recurring enterprise software revenue while addressing growing software supply-chain security concerns. Broadcom Strengthens Spring Security with TrueSource
• Neutral Sentiment: Options traders are positioning for a substantial post-earnings move, increasing volatility risk in either direction. The stock’s reaction will likely depend more on forward AI semiconductor revenue and VMware guidance than on the quarter’s headline results. How Much Traders See Broadcom Stock Moving After Earnings
• Negative Sentiment: Expectations are elevated, creating downside risk if results or guidance disappoint. Broadcom also trades at a premium valuation, while reported insider activity shows overwhelmingly more sales than purchases over the past six months.

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.