Breakthru Advisory Services LLC has made a notable investment in Broadcom Inc. by acquiring a total of 3,961 shares during the third quarter. This stake is valued at approximately $1.3 million, as reported in the firm’s latest disclosure to the Securities and Exchange Commission. Broadcom, a leading semiconductor manufacturer, now constitutes about 0.9% of Breakthru’s portfolio, ranking as the firm’s 19th largest holding.
In addition to Breakthru, several other institutional investors have recently adjusted their positions in Broadcom. Assetmark Inc. increased its stake by 2.4% during the second quarter, now owning 1,703,487 shares valued at approximately $469.6 million. Similarly, Capital Counsel LLC initiated a new investment in Broadcom worth about $221,000 in the same quarter.
Waterloo Capital L.P. also expanded its holdings by 7.0%, acquiring 48,361 shares valued at around $13.3 million. Geneos Wealth Management Inc. boosted its position by 27.9%, owning 64,130 shares worth roughly $10.7 million. RiverFront Investment Group LLC significantly increased its position by 107.6%, now holding 16,524 shares valued at approximately $4.6 million. Overall, institutional investors now control 76.43% of Broadcom’s stock.
Market Sentiment and Recent Developments
Recent sentiment around Broadcom has shown significant positivity. Truist Financial raised its price target for Broadcom shares to $510, maintaining a buy rating, which signals potential growth. The company also surpassed market expectations with its financial performance, reporting a quarterly revenue of $18.02 billion, exceeding the consensus estimate of $17.46 billion. In conjunction with this, Broadcom announced a 10% increase in its quarterly dividend, bringing it to $0.65 per share, reflecting strong cash flow and commitment to shareholder returns.
Noteworthy options activity has been recorded, with traders purchasing approximately 323,615 call contracts, indicating bullish speculation on the stock’s near-term performance. Furthermore, Broadcom’s stock has witnessed recent volatility, dropping 20% from pre-earnings levels, yet analysts remain optimistic, with an average target price of $436.33.
Insider Transactions and Analyst Ratings
Insider trading activity has also caught the attention of investors. Charlie B. Kawwas, an insider at Broadcom, sold 1,928 shares on December 17, valued at approximately $632,000. Following this sale, Kawwas retains 23,582 shares valued at about $7.7 million. Director Henry Samueli sold 368,797 shares on September 24 for a total of $124.6 million, although he still holds a substantial position in the company. In total, insiders have sold 863,577 shares worth about $311.7 million over the past three months.
Brokerage firms have been active in reviewing Broadcom’s stock, with Argus raising its target price from $285 to $375. The Goldman Sachs Group has set its price target at $435, and Piper Sandler has increased its target from $375 to $430. With a robust consensus of buy ratings from analysts, Broadcom continues to attract considerable interest in the equities market.
Broadcom Inc. is recognized as a global technology company, specializing in semiconductor and infrastructure software solutions. Headquartered in Irvine, California, the company serves a wide array of markets, providing essential components for wired and wireless communications, cloud storage, and networking, among others. As the semiconductor sector evolves rapidly, Broadcom’s strategic positioning and recent financial performance suggest promising prospects for future growth.