Broadcom Inc. $AVGO Shares Bought by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 6.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,747 shares of the semiconductor manufacturer’s stock after acquiring an additional 4,000 shares during the period. Broadcom makes up about 1.0% of Verdence Capital Advisors LLC’s investment portfolio, making the stock its 19th largest holding. Verdence Capital Advisors LLC’s holdings in Broadcom were worth $23,441,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp raised its holdings in shares of 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 purchasing an additional 16,651,378 shares during the last quarter. Bank of America Corp DE boosted its holdings 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 purchasing 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 worth $19,484,611,000 after purchasing an additional 1,892,721 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Broadcom by 2.9% in 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 purchasing an additional 1,140,598 shares in the last quarter. Finally, Legal & General Group Plc bought a new position in Broadcom in the second quarter valued at $11,998,148,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Stock Performance

AVGO opened at $326.08 on Friday. The company has a quick ratio of 2.29, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. Broadcom Inc. has a 12-month low of $289.96 and a 12-month high of $495.00. The business has a 50 day moving average of $352.81 and a 200-day moving average of $366.96. The stock has a market cap of $1.56 trillion, a price-to-earnings ratio of 41.65 and a beta of 1.46.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share (EPS) for the quarter, topping 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 company had revenue of $29.59 billion during the quarter, compared to analysts’ expectations of $29.24 billion. During the same quarter last year, the company posted $1.69 EPS. Broadcom’s quarterly revenue was up 85.5% compared to the same quarter last year. On average, equities research analysts expect that Broadcom Inc. will post 10.37 earnings per share for the current year.

Broadcom Announces Dividend

The company also recently announced 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. The ex-dividend date was Monday, September 21st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.8%. Broadcom’s dividend payout ratio (DPR) is 33.21%.

Analyst Ratings Changes

A number of analysts recently issued reports on AVGO shares. Arete Research lifted their target price on Broadcom from $488.00 to $530.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Oppenheimer began coverage on Broadcom in a research report on Tuesday. They set a “buy” rating for the company. Morgan Stanley restated an “overweight” rating and issued a $505.00 price target (up from $502.00) on shares of Broadcom in a research note on Thursday, September 3rd. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Broadcom in a research report on Thursday, September 3rd. Finally, Raymond James Financial reiterated an “outperform” rating and set a $475.00 price objective (up from $450.00) on shares of Broadcom in a research note on Thursday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and an average price target of $530.52.

Key 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

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.