Broadcom Inc. $AVGO Shares Acquired by WestEnd Advisors LLC

WestEnd Advisors LLC raised its position in Broadcom Inc. (NASDAQ:AVGO) by 100,632.1% during the third quarter, Holdings Channel.com reports. The fund owned 81,593 shares of the semiconductor manufacturer’s stock after purchasing an additional 81,512 shares during the quarter. WestEnd Advisors LLC’s holdings in Broadcom were worth $28,656,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cornerstone Advisors LLC purchased a new position in shares of Broadcom during the second quarter valued at approximately $92,522,000. GAMMA Investing LLC raised its holdings in shares of Broadcom by 8.8% during the third quarter. GAMMA Investing LLC now owns 164,015 shares of the semiconductor manufacturer’s stock valued at $55,889,000 after acquiring an additional 13,317 shares in the last quarter. ANB Bank purchased a new stake in Broadcom in the third quarter worth $1,181,000. Bank of America Corp DE lifted its stake in Broadcom by 1.5% in the first 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 period. Finally, Clear Harbor Asset Management LLC bought a new stake in Broadcom in the second quarter valued at $3,302,000. 76.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AVGO. Piper Sandler started coverage on shares of Broadcom in a research report on Wednesday, September 9th. They set an “overweight” rating and a $460.00 price objective on the stock. Royal Bank Of Canada initiated coverage on shares of Broadcom in a report on Thursday, September 3rd. They issued an “outperform” rating for the company. Raymond James Financial reaffirmed an “outperform” rating and issued a $475.00 target price (up from $450.00) on shares of Broadcom in a research report on Thursday, September 3rd. TD Cowen reaffirmed a “buy” rating and set a $475.00 target price (down from $500.00) on shares of Broadcom in a research note on Thursday, September 3rd. Finally, Weiss Ratings upgraded shares of Broadcom from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $530.52.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: DA Davidson upgraded Broadcom to Buy from Neutral and raised its price target to $400 from $350. The firm cited Broadcom’s exposure to major AI customers, including Anthropic and potentially OpenAI. Broadcom Falls Despite DA Davidson Upgrade
• Positive Sentiment: A $63 billion financing arrangement is expected to fund purchases of Broadcom AI hardware for Anthropic. The deal provides a potentially large, funded customer for Broadcom’s custom-chip and networking business, although the company could face substantial obligations under the agreement’s backstop. Broadcom’s $63 Billion Anthropic Deal
• Positive Sentiment: Longer-term investment theses remain favorable: Broadcom projects AI semiconductor revenue of approximately $115 billion in fiscal 2027 and $230 billion in fiscal 2028. Meta’s planned financing for its AI expansion could also support additional demand for Broadcom’s custom silicon and networking products. Meta Financing Plan and Broadcom
• Neutral Sentiment: Broadcom is trading well below its record high and below its 50-day and 200-day moving averages. Analysts see upside, but valuation remains demanding, making execution of the AI growth forecast particularly important.
• Negative Sentiment: Intel’s weaker-than-expected forecast prompted investors to reassess semiconductor demand. Concerns were reinforced by Amazon’s results and the rising cost of building AI infrastructure, pressuring AI-exposed chip stocks broadly. Why Intel, AMD and Broadcom Are Falling
• Negative Sentiment: The Anthropic transaction also carries execution and financial-risk questions. Investors are waiting to see whether Broadcom can manufacture and deliver the required hardware at scale before fully crediting the projected revenue. Broadcom’s Anthropic Deal and Execution Risk

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $326.08 on Friday. The company has a 50 day simple moving average of $352.81 and a two-hundred day simple moving average of $366.96. Broadcom Inc. has a fifty-two week low of $289.96 and a fifty-two week high of $495.00. The company has a market capitalization of $1.56 trillion, a price-to-earnings ratio of 41.65 and a beta of 1.46. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.29 and a current ratio of 2.50.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 EPS for the quarter, topping analysts’ consensus estimates of $3.22 by $0.10. The firm had revenue of $29.59 billion for the quarter, compared to analysts’ expectations of $29.24 billion. Broadcom had a return on equity of 48.33% and a net margin of 42.94%. The business’s revenue for the quarter was up 85.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.69 EPS. Analysts expect that Broadcom Inc. will post 10.37 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st were paid a dividend of $0.65 per share. The ex-dividend date was Monday, September 21st. This represents a $2.60 dividend on an annualized basis and a yield of 0.8%. Broadcom’s payout ratio is presently 33.21%.

Broadcom Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software products. Its semiconductor solutions support data center, networking, broadband, wireless communications, storage, industrial and other electronic applications.

The company’s semiconductor portfolio includes networking and switching components, custom accelerators, connectivity and wireless devices, broadband equipment, optical products, storage controllers and related infrastructure technologies.