Sax Wealth Advisors LLC boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO – Free Report) by 353.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 56,112 shares of the semiconductor manufacturer’s stock after acquiring an additional 43,747 shares during the period. Sax Wealth Advisors LLC’s holdings in Broadcom were worth $19,706,000 as of its most recent filing with the SEC.
A number of other institutional investors have also made changes to their positions in AVGO. State Street Corp boosted its stake in Broadcom by 8.7% during the 2nd quarter. State Street Corp now owns 208,031,610 shares of the semiconductor manufacturer’s stock worth $75,367,711,000 after acquiring an additional 16,651,378 shares during the last quarter. Bank of America Corp DE grew its position in shares of Broadcom by 4.6% in the 2nd quarter. Bank of America Corp DE now owns 61,423,013 shares of the semiconductor manufacturer’s stock valued at $23,202,543,000 after purchasing an additional 2,685,916 shares during the period. Wellington Management Group LLP lifted its stake in Broadcom by 3.8% in the second quarter. Wellington Management Group LLP now owns 51,580,703 shares of the semiconductor manufacturer’s stock valued at $19,484,611,000 after buying an additional 1,892,721 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Broadcom by 2.9% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 40,180,530 shares of the semiconductor manufacturer’s stock worth $15,178,195,000 after acquiring an additional 1,140,598 shares in the last quarter. Finally, Legal & General Group Plc bought a new stake in Broadcom in the 2nd quarter valued at $11,998,148,000. 76.43% of the stock is owned by institutional investors and hedge funds.
Broadcom Stock Performance
Shares of AVGO stock traded up $0.60 on Tuesday, hitting $355.33. The company’s stock had a trading volume of 7,137,445 shares, compared to its average volume of 24,948,852. 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 $1.70 trillion, a PE ratio of 45.40 and a beta of 1.46. The stock’s 50 day moving average is $370.49 and its 200-day moving average is $383.05. 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 Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Monday, September 21st were given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Monday, September 21st. Broadcom’s dividend payout ratio is currently 33.21%.
Analysts Set New Price Targets
A number of research firms recently issued reports on AVGO. Citigroup reiterated a “buy” rating and set a $515.00 price objective (up from $500.00) on shares of Broadcom in a report on Friday, September 4th. HSBC decreased their price objective on Broadcom from $600.00 to $560.00 and set a “buy” rating for the company in a report on Thursday, September 3rd. BNP Paribas Exane boosted their price target on Broadcom from $675.00 to $715.00 and gave the stock an “outperform” rating in a research report on Friday, September 4th. Cantor Fitzgerald increased their price target on shares of Broadcom from $525.00 to $600.00 and gave the company an “overweight” rating in a research note on Thursday, September 3rd. Finally, President Capital upped their target price on shares of Broadcom from $520.00 to $546.00 and gave the company a “buy” rating in a report on Thursday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, thirty-seven have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and an average target price of $527.20.
Check Out Our Latest Report on AVGO
Trending Headlines about Broadcom
Here are the key news stories impacting Broadcom this week:
- Positive Sentiment: CEO Hock Tan raised Broadcom’s AI revenue outlook while arguing that the company’s custom-chip business is supported by multiyear hyperscaler commitments. The comments reinforce expectations for sustained growth beyond Nvidia’s general-purpose GPU market. Broadcom CEO Just Compared AI Investors to Gamblers Broadcom Is Building an AI Business Unlike Nvidia’s
- Positive Sentiment: Analysts and financial commentary continue to highlight rapidly growing AI revenue, dividend support and Broadcom’s strategic position as a supplier of custom accelerators and networking infrastructure for large technology customers. Broadcom’s AI Revenue Is Tripling, but the Stock Has Lagged 3 Dividend Paying Stocks Offering AI Exposure
- Positive Sentiment: Broadcom introduced VMware HyperArmor, a security product for VMware Cloud Foundation designed to protect the ESX hypervisor without disrupting workloads. The launch could strengthen its infrastructure-software portfolio and support VMware cross-selling. Broadcom Introduces VMware HyperArmor
- Neutral Sentiment: Broadcom’s fundamentals remain strong, but technical indicators are weaker: the stock has fallen substantially from its record high and trades below its 50-day and 200-day moving averages. This divergence leaves investors focused on whether earnings growth can overcome valuation and momentum concerns. Broadcom Stock Analysis as Fundamentals and Technicals Diverge
- Negative Sentiment: Tan’s warning that capital—not memory chips—could become the biggest constraint on AI expansion raises concerns about data-center financing, customer spending and the sustainability of the current infrastructure boom. His comparison of AI investors to casino gamblers also highlighted speculative sentiment around the sector. Intel and Broadcom CEOs Warn Capital Crunch Could Become AI Bottleneck Broadcom CEO Compares AI Investors to Gamblers
- Negative Sentiment: Reports questioning Broadcom’s AI-related financing, including a proposed $42 billion arrangement involving Anthropic, are adding balance-sheet and counterparty-risk concerns as investors assess whether AI growth is becoming too debt-dependent. How Broadcom’s $42 Billion Loan to Anthropic Is a Bet on a $2 Trillion IPO
Broadcom Company Profile
Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops, and supplies semiconductor and infrastructure software products. Its semiconductor solutions support wired and wireless communications, data center networking, broadband access, storage, industrial applications, and other markets.
The company’s semiconductor portfolio includes networking and switching products, custom application-specific integrated circuits, wireless connectivity components, radio-frequency devices, optical components, and storage-related solutions.
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