Broadcom Inc. $AVGO Stock Purchased by Central Bank & Trust Co.

Central Bank & Trust Co. increased its position in Broadcom Inc. (NASDAQ:AVGO) by 11.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 16,261 shares of the semiconductor manufacturer’s stock after buying an additional 1,686 shares during the quarter. Broadcom makes up about 0.9% of Central Bank & Trust Co.’s investment portfolio, making the stock its 28th largest position. Central Bank & Trust Co.’s holdings in Broadcom were worth $5,711,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AVGO. State Street Corp increased its holdings in 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. Bank of America Corp DE grew its position in 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 worth $23,202,543,000 after acquiring an additional 2,685,916 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Broadcom by 3.8% in the 2nd quarter. Wellington Management Group LLP now owns 51,580,703 shares of the semiconductor manufacturer’s stock valued at $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 increased its position in shares of Broadcom by 2.9% during the 2nd 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 during the last quarter. Finally, Legal & General Group Plc bought a new position in Broadcom during the second quarter valued at $11,998,148,000. Institutional investors own 76.43% of the company’s stock.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom is reportedly arranging more than $50 billion in financing for custom AI chips being developed with OpenAI. Although discussions are preliminary, the potential project underscores the scale of expected demand for Broadcom’s custom silicon and could support substantial future revenue. Broadcom seeks more than $50 billion to finance OpenAI AI chips
• Positive Sentiment: At the OCP Global Summit, Broadcom highlighted new networking technologies designed to help hyperscalers scale AI clusters. The announcements reinforce its positioning in high-speed networking and custom AI infrastructure. Broadcom AI networking innovations
• Positive Sentiment: Record profits at Samsung and TSMC are being viewed as evidence that semiconductor demand and AI-related capital spending remain strong, a favorable backdrop for Broadcom’s chip and networking businesses. Record profits at Samsung and TSMC
• Positive Sentiment: Analysts and commentators continue to point to Broadcom’s rapid AI revenue growth and its roughly 24% decline from its 52-week high as a potential entry point, despite expectations for strong earnings growth. Broadcom is lagging the market

Broadcom Trading Up 0.4%

Shares of Broadcom stock opened at $361.54 on Friday. 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 fifty-two week low of $289.96 and a fifty-two week high of $495.00. The firm has a 50-day simple moving average of $371.24 and a two-hundred day simple moving average of $382.38. The company has a market cap of $1.73 trillion, a P/E ratio of 46.17 and a beta of 1.46.

Broadcom (NASDAQ:AVGO) last released its earnings results 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 business had revenue of $29.59 billion during the quarter, compared to analysts’ expectations of $29.24 billion. Broadcom had a net margin of 42.94% and a return on equity of 48.33%. The company’s quarterly revenue was up 85.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.69 earnings per share. As a group, equities analysts predict that Broadcom Inc. will post 10.37 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The business 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 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Monday, September 21st. Broadcom’s payout ratio is currently 33.21%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports 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 note on Thursday, September 3rd. The Goldman Sachs Group boosted their price objective on shares of Broadcom from $525.00 to $540.00 and gave the company a “buy” rating in a research report on Thursday, September 3rd. Citic Securities raised Broadcom to a “buy” rating and lifted their target price for the company from $450.00 to $525.00 in a research report on Tuesday, September 8th. HSBC decreased their price objective on Broadcom from $600.00 to $560.00 and set a “buy” rating for the company in a report on Thursday, September 3rd. Finally, Royal Bank Of Canada began coverage on shares of Broadcom in a research note on Thursday, September 3rd. They set an “outperform” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, thirty-seven have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $527.20.

Broadcom Company Profile

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.