142,487 Shares of Broadcom Inc. $AVGO Bought by North Dakota State Investment Board

North Dakota State Investment Board acquired a new stake in Broadcom Inc. (NASDAQ:AVGO) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 142,487 shares of the semiconductor manufacturer’s stock, valued at approximately $50,040,000. Broadcom accounts for approximately 2.0% of North Dakota State Investment Board’s investment portfolio, making the stock its 8th largest position.

Several other institutional investors have also recently modified their holdings of the company. Legal & General Group Plc purchased a new position in Broadcom during the 2nd quarter worth approximately $11,998,148,000. Bank of New York Mellon Corp acquired a new stake in Broadcom during the 2nd quarter valued at approximately $10,528,191,000. Jupiter Topco LLC acquired a new stake in Broadcom during the 2nd quarter valued at approximately $7,396,271,000. State Street Corp boosted 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 valued at $75,367,711,000 after acquiring an additional 16,651,378 shares during the last quarter. Finally, Deutsche Bank AG purchased a new stake in shares of Broadcom in the 2nd quarter valued at $5,661,216,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Stock Performance

AVGO opened at $326.08 on Monday. The firm has a market capitalization of $1.56 trillion, a PE ratio of 41.65 and a beta of 1.49. Broadcom Inc. has a twelve month low of $289.96 and a twelve month high of $495.00. The firm’s 50-day moving average price is $352.81 and its 200 day moving average price is $366.96. The company has a current ratio of 2.50, a quick ratio of 2.29 and a debt-to-equity ratio of 0.57.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 EPS 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 company had revenue of $29.59 billion during the quarter, compared to the consensus estimate of $29.24 billion. During the same quarter in the prior year, the firm earned $1.69 EPS. Broadcom’s quarterly revenue was up 85.5% on a year-over-year basis. As a group, sell-side analysts expect that Broadcom Inc. will post 10.37 EPS for the current fiscal year.

Broadcom Dividend Announcement

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

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

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Citic Securities upgraded shares of Broadcom to a “buy” rating and increased their price objective for the stock from $450.00 to $525.00 in a research note on Tuesday, September 8th. Raymond James Financial reissued an “outperform” rating and issued a $475.00 price objective (up from $450.00) on shares of Broadcom in a report on Thursday, September 3rd. UBS Group downgraded Broadcom from a “hold” rating to a “neutral” rating in a research note on Tuesday, October 27th. DA Davidson raised Broadcom from a “neutral” rating to a “buy” rating and raised their target price for the stock from $350.00 to $400.00 in a report on Tuesday, October 27th. Finally, Bank of America decreased their price target on Broadcom from $530.00 to $460.00 and set a “buy” rating for the company in a report on Thursday, September 3rd. One analyst has rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and an average target price of $530.52.

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 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.