Sepio Capital LP lowered its holdings in Broadcom Inc. (NASDAQ:AVGO – Free Report) by 84.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 805 shares of the semiconductor manufacturer’s stock after selling 4,293 shares during the period. Sepio Capital LP’s holdings in Broadcom were worth $283,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Fullerton Advisors LLC boosted its stake in shares of Broadcom by 1.3% during the 1st quarter. Fullerton Advisors LLC now owns 1,989 shares of the semiconductor manufacturer’s stock worth $616,000 after buying an additional 25 shares during the last quarter. NORTHSTAR ASSET MANAGEMENT Co grew its holdings in shares of Broadcom by 0.5% in the 1st quarter. NORTHSTAR ASSET MANAGEMENT Co now owns 5,350 shares of the semiconductor manufacturer’s stock valued at $1,656,000 after acquiring an additional 25 shares in the last quarter. Yukon Wealth Management Inc. grew its holdings in shares of Broadcom by 1.1% in the 1st quarter. Yukon Wealth Management Inc. now owns 2,501 shares of the semiconductor manufacturer’s stock valued at $774,000 after acquiring an additional 26 shares in the last quarter. NerdWallet Wealth Partners LLC increased its position in shares of Broadcom by 2.6% in the second quarter. NerdWallet Wealth Partners LLC now owns 1,057 shares of the semiconductor manufacturer’s stock valued at $399,000 after acquiring an additional 27 shares during the last quarter. Finally, Veery Capital LLC increased its position in shares of Broadcom by 1.4% in the second quarter. Veery Capital LLC now owns 1,900 shares of the semiconductor manufacturer’s stock valued at $718,000 after acquiring an additional 27 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.
Key Broadcom News
Here are the key news stories impacting Broadcom this week:
- Positive Sentiment: A coalition of banks and Blackstone is reportedly arranging a $63 billion financing vehicle to purchase AI-computing infrastructure from Broadcom and lease it to Anthropic. The proposed transaction would provide a potentially significant source of demand and revenue visibility. Banks, Blackstone Form $63 Billion Financing Vehicle for Broadcom AI Tech
- Positive Sentiment: Anthropic’s IPO filing disclosed approximately $224.5 billion of non-cancelable compute commitments with Amazon and Alphabet. The scale of those commitments supports continued spending on custom AI accelerators and networking equipment supplied or co-designed by Broadcom. Anthropic’s IPO Filing Reveals a Massive Opportunity for AI Infrastructure Giants
- Positive Sentiment: Reports highlight unusually heavy call-option activity and argue that Broadcom’s custom AI chips are gaining popularity among major AI companies. Bullish commentary also points to strong projected growth in custom silicon and networking through 2030. Huge, unusual call option activity in Broadcom shows investors bullish on AVGO stock
- Neutral Sentiment: Broadcom’s stock is being described as potentially attractive after reaching a six-month low, although investors remain focused on whether future AI growth is already reflected in its premium valuation. Broadcom Is At a 6-Month Low – Is AVGO Stock Too Cheap?
- Negative Sentiment: Alphabet is reportedly diversifying its TPU suppliers to include MediaTek, raising concerns that Broadcom could lose some custom-chip business. Growing demand from Anthropic and OpenAI may offset that risk, but supplier diversification remains an important competitive threat. Broadcom’s AI Chip Business Is Booming, But Alphabet’s Strategy Highlights 2 Key Risks
- Negative Sentiment: Concerns that debt-market funding for AI data centers is tightening could slow infrastructure construction and customer spending. Separately, Erste Group Bank cut its earnings estimates for Broadcom, adding near-term pressure to expectations.
Analysts Set New Price Targets
Several research firms recently issued reports on AVGO. Jefferies Financial Group initiated coverage on Broadcom in a report on Thursday, September 3rd. They set a “buy” rating and a $550.00 target price on the stock. KeyCorp restated an “overweight” rating and issued a $575.00 price target on shares of Broadcom in a research note on Thursday, September 3rd. The Goldman Sachs Group boosted their price target on Broadcom from $525.00 to $540.00 and gave the stock a “buy” rating in a research report on Thursday, September 3rd. Sanford C. Bernstein reaffirmed a “buy” rating on shares of Broadcom in a research report on Monday, September 21st. Finally, Weiss Ratings upgraded Broadcom from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and a consensus price target of $529.17.
Check Out Our Latest Analysis on AVGO
Broadcom Price Performance
Shares of NASDAQ AVGO opened at $329.17 on Tuesday. The firm has a market cap of $1.57 trillion, a P/E ratio of 42.04 and a beta of 1.46. The company has a current ratio of 2.50, a quick ratio of 2.29 and a debt-to-equity ratio of 0.57. Broadcom Inc. has a 1-year low of $289.96 and a 1-year high of $495.00. The business’s 50 day moving average is $356.76 and its 200-day moving average is $367.07.
Broadcom (NASDAQ:AVGO – Get Free Report) last released its quarterly earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share for the quarter, topping the consensus estimate of $3.22 by $0.10. The business had revenue of $29.59 billion during 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 firm’s revenue for the quarter was up 85.5% compared to the same quarter last year. During the same period last year, the firm posted $1.69 EPS. Equities research analysts predict that Broadcom Inc. will post 10.37 earnings per share for the current year.
Broadcom Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st were given a dividend of $0.65 per share. The ex-dividend date was Monday, September 21st. This represents a $2.60 annualized dividend and a yield of 0.8%. Broadcom’s dividend payout ratio (DPR) 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.
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