Avantax Planning Partners Inc. decreased its holdings in Broadcom Inc. (NASDAQ:AVGO – Free Report) by 6.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 41,906 shares of the semiconductor manufacturer’s stock after selling 2,881 shares during the period. Avantax Planning Partners Inc.’s holdings in Broadcom were worth $14,717,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in AVGO. Brighton Jones LLC boosted its stake in Broadcom by 3.9% in the 3rd quarter. Brighton Jones LLC now owns 68,624 shares of the semiconductor manufacturer’s stock valued at $24,100,000 after buying an additional 2,588 shares in the last quarter. American State Bank Iowa raised its stake in Broadcom by 5.9% during the third quarter. American State Bank Iowa now owns 7,017 shares of the semiconductor manufacturer’s stock worth $2,464,000 after acquiring an additional 391 shares in the last quarter. Cullinan Associates Inc. raised its stake in Broadcom by 10.0% during the third quarter. Cullinan Associates Inc. now owns 13,172 shares of the semiconductor manufacturer’s stock worth $4,626,000 after acquiring an additional 1,196 shares in the last quarter. Henderson Brothers Financial Partners LLC bought a new position in shares of Broadcom during the third quarter valued at $2,253,000. Finally, Ethic Inc. lifted its holdings in shares of Broadcom by 24.0% during the third quarter. Ethic Inc. now owns 500,945 shares of the semiconductor manufacturer’s stock valued at $175,927,000 after acquiring an additional 97,073 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.
Key Headlines Impacting Broadcom
Here are the key news stories impacting Broadcom this week:
- Positive Sentiment: Anthropic’s S-1 filing reportedly shows surging revenue and $131.8 billion in cash, strengthening confidence in its ability to support a large commitment to Broadcom. Broadcom’s connection to a $26 billion Anthropic placement also underscores its role in the AI supply chain. Anthropic’s S-1 Strengthens the Case for Broadcom’s AI Growth
- Positive Sentiment: Google’s projected $135 billion chip spending could benefit Broadcom’s custom-chip business, as large technology companies look beyond GPUs to develop their own AI processors. The Real Winner of Google’s $135 Billion Chip Forecast: Broadcom
- Positive Sentiment: Analysts point to Broadcom’s history of earnings surprises and factors they believe could support another quarterly beat. The next results are scheduled for December 9, making the report a near-term test of AI demand and investor expectations. Will Broadcom Beat Estimates Again?
- Neutral Sentiment: Broadcom contributed its VM API project to the Cloud Native Computing Foundation’s Sandbox and is working on Kubernetes workload standards. This may strengthen VMware’s ecosystem and partner support, though the near-term financial impact is uncertain. Broadcom Contributes VM API Open Source Project to CNCF
- Negative Sentiment: Despite the rebound, investor concerns persist over margin pressure and a reported $63 billion financing structure. Broader worries about data-center investment, AI regulation and higher interest rates could also weigh on sentiment toward semiconductor stocks. Broadcom’s Margin and Financing Concerns
Broadcom Trading Up 3.9%
Shares of AVGO opened at $331.98 on Wednesday. The stock has a fifty day moving average price of $346.14 and a two-hundred day moving average price of $366.16. 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 Inc. has a 52-week low of $289.77 and a 52-week high of $495.00. The company has a market cap of $1.58 trillion, a price-to-earnings ratio of 42.40 and a beta of 1.49.
Broadcom (NASDAQ:AVGO – Get Free Report) last posted its quarterly earnings data 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 company had revenue of $29.59 billion for the quarter, compared to analyst estimates of $29.24 billion. Broadcom had a return on equity of 48.33% and a net margin of 42.94%. The business’s revenue was up 85.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.69 earnings per share. Analysts predict that Broadcom Inc. will post 10.37 EPS for the current fiscal year.
Broadcom Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Monday, September 21st were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, September 21st. Broadcom’s payout ratio is currently 33.21%.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on AVGO. Jefferies Financial Group initiated coverage on shares of Broadcom in a research note on Thursday, September 3rd. They issued a “buy” rating and a $550.00 target price on the stock. Raymond James Financial reiterated an “outperform” rating and set a $475.00 target price (up from $450.00) on shares of Broadcom in a research report on Thursday, September 3rd. BNP Paribas Exane lifted their price target on shares of Broadcom from $675.00 to $715.00 and gave the company an “outperform” rating in a report on Friday, September 4th. Citic Securities raised shares of Broadcom to a “buy” rating and lifted their price target for the company from $450.00 to $525.00 in a report on Tuesday, September 8th. Finally, Arete Research boosted their price target on shares of Broadcom from $488.00 to $530.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and an average price target of $530.52.
Check Out Our Latest Stock Report on Broadcom
Broadcom Profile
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.
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