Broadcom Inc. $AVGO Stake Lifted by CX Institutional

CX Institutional boosted its stake in Broadcom Inc. (NASDAQ:AVGO) by 5.9% in the third quarter, Holdings Channel.com reports. The firm owned 95,802 shares of the semiconductor manufacturer’s stock after acquiring an additional 5,334 shares during the quarter. Broadcom comprises about 0.9% of CX Institutional’s portfolio, making the stock its 24th largest position. CX Institutional’s holdings in Broadcom were worth $32,670,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Cornerstone Advisors LLC acquired a new position in shares of Broadcom during the second quarter worth about $92,522,000. Bank of America Corp DE boosted its holdings in Broadcom by 1.5% in the 1st quarter. Bank of America Corp DE now owns 58,737,097 shares of the semiconductor manufacturer’s stock worth $18,179,719,000 after acquiring an additional 894,564 shares during the period. Clear Harbor Asset Management LLC acquired a new stake in Broadcom in the second quarter valued at approximately $3,302,000. Bartlett & CO. Wealth Management LLC lifted its position in shares of Broadcom by 129.3% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 110,048 shares of the semiconductor manufacturer’s stock worth $34,061,000 after purchasing an additional 62,050 shares in the last quarter. Finally, First Bank & Trust grew its holdings in Broadcom by 17.2% during the 2nd quarter. First Bank & Trust now owns 10,503 shares of the semiconductor manufacturer’s stock valued at $3,968,000 after purchasing an additional 1,545 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom and its banking syndicate are reportedly preparing as much as $60 billion in financing for Anthropic and other AI companies. The package could include $42 billion of senior-secured debt and an additional $18 billion junior tranche, potentially helping customers fund large-scale chip and infrastructure deployments. Why Broadcom stock is gaining today?
• Positive Sentiment: Anthropic’s IPO filing reportedly shows that Broadcom could lend the AI company up to $42 billion to lease Broadcom chips. The arrangement strengthens Broadcom’s relationship with a potentially major customer and could support future AI-chip revenue, although some financing may be convertible into Anthropic shares. Broadcom to lend Anthropic up to $42 billion to lease its chips
• Positive Sentiment: Analysts and commentators remain constructive on Broadcom’s long-term outlook, citing a reported 221% increase in AI revenue, chip relationships with Google, Meta and OpenAI, and repeated earnings beats. UBS also reportedly presented a bullish view after discussions with Broadcom’s CEO. Broadcom, Marvell, and SanDisk Are Quietly Building Toward a Massive Bull Run
• Neutral Sentiment: The financing news is a major AI-growth signal, but investors are assessing whether it represents durable demand or a more circular arrangement in which Broadcom helps customers finance purchases of Broadcom’s own chips. Broadcom Is Lending One of Its Biggest Customers $42 Billion to Buy Its Chips
• Negative Sentiment: Broadcom’s stock remains under pressure relative to recent highs, and one analysis noted it was down since the last earnings report. The company’s elevated valuation and exposure to Anthropic’s ability to fund substantial infrastructure commitments remain key risks.

Broadcom Stock Performance

NASDAQ:AVGO traded up $11.50 during midday trading on Friday, reaching $355.14. 24,588,659 shares of the company traded hands, compared to its average volume of 25,145,607. Broadcom Inc. has a twelve month low of $289.96 and a twelve month high of $495.00. 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 company has a fifty day moving average price of $373.28 and a 200 day moving average price of $380.85. The firm has a market capitalization of $1.70 trillion, a price-to-earnings ratio of 45.36 and a beta of 1.46.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $29.24 billion. During the same quarter in the prior year, the firm earned $1.69 earnings per share. The company’s quarterly revenue was up 85.5% on a year-over-year basis. On average, analysts expect that Broadcom Inc. will post 10.37 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, September 21st. Broadcom’s payout ratio is 33.21%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on AVGO shares. Raymond James Financial reissued an “outperform” rating and issued a $475.00 price objective (up from $450.00) on shares of Broadcom in a research report on Thursday, September 3rd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $515.00 target price (up from $430.00) on shares of Broadcom in a research note on Thursday, June 4th. Bank of America cut their price target on shares of Broadcom from $530.00 to $460.00 and set a “buy” rating on the stock in a report on Thursday, September 3rd. Wall Street Zen lowered shares of Broadcom from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 18th. Finally, Lake Street Capital raised Broadcom to 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 assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and a consensus price target of $527.20.

Insider Activity at Broadcom

In other news, insider Mark Brazeal sold 25,000 shares of the stock in a transaction on Friday, July 10th. The stock was sold at an average price of $401.33, for a total value of $10,033,250.00. Following the completion of the transaction, the insider owned 194,989 shares of the company’s stock, valued at approximately $78,254,935.37. This represents a 11.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Gayla J. Delly sold 1,890 shares of Broadcom stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $385.38, for a total transaction of $728,368.20. Following the sale, the director owned 31,326 shares in the company, valued at approximately $12,072,413.88. This represents a 5.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 51,890 shares of company stock valued at $20,241,368. Insiders own 1.90% of the company’s stock.

About Broadcom

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.