Broadcom Inc. $AVGO Stock: Provenance Wealth Advisors LLC Increases Stake

Posted by Brenda Bartman on Nov 7th, 2026

Provenance Wealth Advisors LLC lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO – Free Report) by 672.3% during the third quarter, HoldingsChannel reports. The firm owned 17,841 shares of the semiconductor manufacturer’s stock after acquiring an additional 15,531 shares during the quarter. Provenance Wealth Advisors LLC’s holdings in Broadcom were worth $6,266,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. State Street Corp lifted its stake in Broadcom by 8.7% in the second quarter. State Street Corp now owns 208,031,610 shares of the semiconductor manufacturer’s stock valued at $75,367,711,000 after buying an additional 16,651,378 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Broadcom by 4.6% in the second 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 buying an additional 2,685,916 shares during the period. Wellington Management Group LLP boosted its holdings in shares of 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 during the period. 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 shares of Broadcom during the second quarter worth $11,998,148,000. Institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on AVGO shares. Raymond James Financial restated an “outperform” rating and set a $475.00 price objective (up from $450.00) on shares of Broadcom in a report on Thursday, September 3rd. HSBC lowered their target price on Broadcom from $600.00 to $560.00 and set a “buy” rating for the company in a report on Thursday, September 3rd. Cantor Fitzgerald lifted their price target on Broadcom from $525.00 to $600.00 and gave the company an “overweight” rating in a research note on Thursday, September 3rd. President Capital boosted their price target on Broadcom from $520.00 to $546.00 and gave the company a “buy” rating in a report on Thursday, September 3rd. Finally, Evercore set a $578.00 price objective on Broadcom and gave the stock an “outperform” rating in a research report on Thursday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $530.52.

Read Our Latest Research Report on AVGO

Broadcom Stock Up 0.7%

Shares of NASDAQ AVGO traded up $2.16 during midday trading on Friday, reaching $293.69. The company’s stock had a trading volume of 32,366,942 shares, compared to its average volume of 22,165,412. The stock has a 50 day simple moving average of $347.89 and a 200-day simple moving average of $366.17. The company has a current ratio of 2.50, a quick ratio of 2.29 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $1.40 trillion, a price-to-earnings ratio of 37.51 and a beta of 1.49. Broadcom Inc. has a fifty-two week low of $289.77 and a fifty-two week high of $495.00.

Broadcom (NASDAQ:AVGO – Get Free Report) last released its earnings results 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. Broadcom had a net margin of 42.94% and a return on equity of 48.33%. The business had revenue of $29.59 billion during the quarter, compared to the consensus estimate of $29.24 billion. During the same quarter last year, the firm earned $1.69 earnings per share. The firm’s revenue for the quarter was up 85.5% compared to the same quarter last year. Equities research analysts predict that Broadcom Inc. will post 10.37 earnings per share for the current year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st were paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Monday, September 21st. Broadcom’s dividend payout ratio is currently 33.21%.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

Positive Sentiment: Broadcom’s AI semiconductor revenue is surging, and management sees significant growth potential over the next several years. One analysis argues that the market may not yet reflect that opportunity; another estimates the shares could be undervalued. Prediction: November Will Be a Huge Month for Broadcom Broadcom Stock Could Be 37% Undervalued
Neutral Sentiment: Some coverage frames the recent pullback as a potential turning point, with a widening gap between AI business growth and the share-price trend. Whether fundamentals prompt a recovery remains uncertain. Broadcom Stock Could Be Approaching a Major Turning Point
Negative Sentiment: Near-term risks include the broad AI-chip selloff and worries that higher interest rates could curb AI spending. Potential limits on new data-center permits in some states add uncertainty about future infrastructure buildouts. Broadcom’s AI Revenue Is Exploding. Here’s What Investors Should Watch Next. Broadcom Drops Amid Broad Chip Selloff
Negative Sentiment: Investor positioning has also weighed on sentiment: ARK sold a large Broadcom holding during the selloff while buying Nvidia. Broadcom is still down sharply over the past month, despite the recent lift. ARK Buys Nvidia and Sells Broadcom Broadcom Is Still Down 22% in the Past Month

Broadcom Company Profile

(Free Report)

Broadcom Inc is a global technology company that designs and supplies semiconductor products and infrastructure software. Its semiconductor portfolio includes chips and components used in networking, broadband communications, wireless connectivity, data storage, and industrial applications. The company serves businesses across a range of industries, including communications, enterprise technology, and consumer electronics.

Broadcom also provides infrastructure software, including products for virtualization, cloud computing, cybersecurity, and enterprise operations.