5,177 Broadcom Inc. $AVGO Shares Purchased by Wedbush Securities Inc.

Wedbush Securities Inc. grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 6.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 87,460 shares of the semiconductor manufacturer’s stock after buying an additional 5,177 shares during the period. Broadcom accounts for 0.8% of Wedbush Securities Inc.’s portfolio, making the stock its 16th biggest holding. Wedbush Securities Inc.’s holdings in Broadcom were worth $30,715,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Cornerstone Advisors LLC bought a new position in Broadcom in the 2nd quarter worth $92,522,000. GAMMA Investing LLC increased its stake in Broadcom by 8.8% in the 3rd quarter. GAMMA Investing LLC now owns 164,015 shares of the semiconductor manufacturer’s stock worth $55,889,000 after buying an additional 13,317 shares in the last quarter. ANB Bank purchased a new stake in Broadcom in the 3rd quarter worth $1,181,000. Bank of America Corp DE raised its holdings in Broadcom by 1.5% during the first quarter. Bank of America Corp DE now owns 58,737,097 shares of the semiconductor manufacturer’s stock valued at $18,179,719,000 after acquiring an additional 894,564 shares during the period. Finally, Clear Harbor Asset Management LLC bought a new stake in Broadcom during the second quarter valued at about $3,302,000. 76.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. BMO Capital Markets boosted their price objective on Broadcom from $455.00 to $575.00 and gave the company an “outperform” rating in a research report on Thursday, September 3rd. Wedbush assumed coverage on Broadcom in a research report on Tuesday. They set an “outperform” rating for the company. Arete Research lifted their target price on Broadcom from $488.00 to $530.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. Oppenheimer started coverage on Broadcom in a research note on Tuesday. They set a “buy” rating on the stock. Finally, William Blair cut Broadcom from an “outperform” rating to a “market perform” rating in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $530.52.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: A consortium including Bank of America, Blackstone, Citigroup and Morgan Stanley reportedly arranged up to $63 billion to finance Broadcom AI accelerators and networking equipment for Anthropic. The structure could provide significant demand visibility, while Truist estimates the arrangement could generate as much as $30 billion in Broadcom revenue with limited direct risk. Broadcom Anthropic financing article
• Positive Sentiment: Anthropic’s IPO filing highlighted approximately $224.5 billion of non-cancelable compute commitments with Amazon and Alphabet. Investors viewed the spending requirements as an indirect tailwind for Broadcom’s custom AI chips, application-specific processors and networking products. Anthropic IPO filing article
• Positive Sentiment: D.A. Davidson upgraded AVGO from Neutral to Buy and raised its price target from $350 to $400, citing sustained AI spending and upcoming AI-company IPOs. Rosenblatt also reaffirmed a Buy rating with a $600 target. D.A. Davidson upgrade article
• Positive Sentiment: Fitch affirmed Broadcom’s A- issuer rating with a Positive outlook, citing strong cash generation and expectations that core EBITDA leverage will remain below the agency’s upgrade threshold. Fitch rating article
• Neutral Sentiment: Broadcom released fixes for 89 vulnerabilities in its TrueSource Spring Enterprise software, supporting its infrastructure-software business and customer relationships, though the announcement is unlikely to materially affect near-term earnings. Broadcom TrueSource announcement
• Negative Sentiment: Bearish concerns remain: rising AI mix may pressure margins, supply constraints could limit growth, and revenue is increasingly concentrated among a small number of customers. Analysts have also cut estimates, while Broadcom’s uncapped off-balance-sheet guarantees create additional financing and execution risk. Broadcom risk analysis
• Negative Sentiment: Alphabet’s efforts to diversify TPU suppliers, along with weakness in Broadcom’s non-AI businesses, could challenge the company’s long-term customer concentration and valuation assumptions. Reported insider activity has also been heavily weighted toward sales, adding a modest sentiment headwind.

Broadcom Stock Up 4.0%

AVGO opened at $342.33 on Wednesday. The company has a fifty day moving average of $354.48 and a 200 day moving average of $366.99. Broadcom Inc. has a fifty-two week low of $289.96 and a fifty-two week high of $495.00.

Broadcom (NASDAQ:AVGO) last announced 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. The company had revenue of $29.59 billion during the quarter, compared to analysts’ expectations of $29.24 billion. During the same quarter in the previous year, the firm earned $1.69 EPS. The firm’s revenue for the quarter was up 85.5% compared to the same quarter last year. Sell-side analysts predict that Broadcom Inc. will post 10.37 earnings per share for the current year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, September 21st.

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.