Smith Group Asset Management LLC Sells 94,489 Shares of Broadcom Inc. $AVGO

Posted by George Bondi on Nov 2nd, 2026

Smith Group Asset Management LLC decreased its stake in Broadcom Inc. (NASDAQ:AVGO – Free Report) by 35.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 171,015 shares of the semiconductor manufacturer’s stock after selling 94,489 shares during the period. Broadcom comprises 3.9% of Smith Group Asset Management LLC’s holdings, making the stock its 4th largest position. Smith Group Asset Management LLC’s holdings in Broadcom were worth $60,059,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. State Street Corp grew its holdings in shares of Broadcom by 8.7% in 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 increased its position in Broadcom by 4.6% during the second quarter. Bank of America Corp DE now owns 61,423,013 shares of the semiconductor manufacturer’s stock worth $23,202,543,000 after buying an additional 2,685,916 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Broadcom by 3.8% during 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 acquiring an additional 1,892,721 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised 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 valued at $15,178,195,000 after buying an additional 1,140,598 shares during the last quarter. Finally, Legal & General Group Plc bought a new position in shares of Broadcom during the 2nd quarter worth about $11,998,148,000. 76.43% of the stock is currently owned by institutional investors.

Broadcom Price Performance

Shares of Broadcom stock opened at $326.08 on Monday. Broadcom Inc. has a one year low of $289.96 and a one year high of $495.00. The stock has a market capitalization of $1.56 trillion, a P/E ratio of 41.65 and a beta of 1.49. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.29. The business’s 50 day simple moving average is $352.81 and its two-hundred day simple moving average is $366.96.

Broadcom (NASDAQ:AVGO – Get Free Report) last issued its quarterly earnings data on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share for the quarter, beating analysts’ consensus estimates of $3.22 by $0.10. The company had revenue of $29.59 billion for the quarter, compared to the consensus estimate of $29.24 billion. Broadcom had a net margin of 42.94% and a return on equity of 48.33%. The firm’s revenue for the quarter was up 85.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.69 earnings per share. Analysts forecast that Broadcom Inc. will post 10.37 EPS for the current year.

Broadcom Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AVGO. Citic Securities upgraded shares of Broadcom to a “buy” rating and upped their target price for the stock from $450.00 to $525.00 in a research report on Tuesday, September 8th. Jefferies Financial Group initiated coverage on Broadcom in a research report on Thursday, September 3rd. They set a “buy” rating and a $550.00 price target on the stock. UBS Group downgraded shares of Broadcom from a “hold” rating to a “neutral” rating in a report on Tuesday, October 27th. President Capital upped their price objective on shares of Broadcom from $520.00 to $546.00 and gave the stock a “buy” rating in a research report on Thursday, September 3rd. Finally, Piper Sandler initiated coverage on Broadcom in a report on Wednesday, September 9th. They issued an “overweight” rating and a $460.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and a consensus target price of $530.52.

Check Out Our Latest Analysis on Broadcom

More Broadcom News

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

About Broadcom

(Free Report)

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.