14,843 Broadcom Inc. $AVGO Shares Purchased by Park National Corp OH

Key Points

• Park National Corp OH increased its Broadcom stake by 21.3% in the third quarter, purchasing 14,843 additional shares and bringing its holdings to 84,676 shares valued at approximately $29.7 million.
• Institutional ownership remains substantial at 76.43%, with major investors including State Street, Bank of America, Wellington Management, UBS and Legal & General increasing or initiating positions.
• Analysts maintain a favorable outlook, with Broadcom receiving a consensus “Moderate Buy” rating and an average price target of $527.20; the company also exceeded quarterly earnings and revenue estimates, reporting 85.5% year-over-year revenue growth.

Park National Corp OH lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 21.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 84,676 shares of the semiconductor manufacturer's stock after purchasing an additional 14,843 shares during the period. Park National Corp OH's holdings in Broadcom were worth $29,737,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of AVGO. State Street Corp increased its position in Broadcom by 8.7% during 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 purchasing an additional 16,651,378 shares during the period. Bank of America Corp DE lifted its position in shares of Broadcom by 4.6% in the 2nd 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 period. Wellington Management Group LLP boosted its stake in shares of Broadcom by 3.8% during 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 in 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 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 buying an additional 1,140,598 shares during the period. Finally, Legal & General Group Plc purchased a new position in shares of Broadcom during the second quarter valued at about $11,998,148,000. 76.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Cantor Fitzgerald raised their price objective on shares of Broadcom from $525.00 to $600.00 and gave the stock an "overweight" rating in a report on Thursday, September 3rd. TD Cowen reissued a "buy" rating and issued a $475.00 target price (down from $500.00) on shares of Broadcom in a research report on Thursday, September 3rd. Wall Street Zen cut Broadcom from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 18th. Lake Street Capital raised Broadcom to a "buy" rating in a research note on Thursday, September 3rd. Finally, Rosenblatt Securities started coverage on Broadcom in a report on Thursday, September 3rd. They issued a "buy" rating and a $600.00 price objective for the company. One 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, the company presently has an average rating of "Moderate Buy" and a consensus target price of $527.20.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Reported Anthropic financing and chip demand: Broadcom reportedly agreed to provide up to $42 billion in financing to Anthropic, potentially supporting purchases of Broadcom’s AI chips and custom silicon. The arrangement has helped fuel optimism about a major customer relationship and future revenue. Broadcom Stock Jumps Following Reported $42 Billion Financing Deal With Anthropic
• Positive Sentiment: AI revenue momentum remains exceptional: Fiscal third-quarter AI semiconductor revenue reportedly reached $16.7 billion, up 221% year over year, while management’s fourth-quarter guidance calls for $21.7 billion, or 236% growth. Investors view these figures as evidence that AI networking and custom-chip demand is still expanding rapidly. Broadcom Trades Above Its Own Average Multiple While Growth Cools
• Positive Sentiment: Long-term growth expectations are bullish: Analysts and financial commentators expect Broadcom’s AI revenue could double in both 2027 and 2028, while custom chips are becoming increasingly important to data-center operators. Morgan Stanley also reportedly considers Broadcom relatively protected from current AI power-related supply-chain constraints.
• Positive Sentiment: Cash generation and scale support shareholder returns: Broadcom’s strong cash flow is viewed as sufficient to support its dividend, while its revenue growth has significantly outpaced Intel over recent quarters. Broadcom vs. Intel: What Revenue Trends Tell Investors
• Neutral Sentiment: Upcoming industry data may drive volatility: Taiwan Semiconductor’s October 15 results are expected to provide clues about AI-chip demand, manufacturing capacity, and spending trends relevant to Broadcom ahead of its next earnings report.
• Negative Sentiment: Financing structure raises concerns: The Anthropic arrangement could create “circular financing” risk because Broadcom is reportedly both funding the customer and supplying its chips. Investors may question credit exposure, the quality of demand, and whether purchases remain sustainable without financing support. Broadcom’s Massive $42 Billion Chip-Buying Deal with Anthropic Raises Circular Financing Worries
• Negative Sentiment: Valuation and concentration risks remain: Broadcom trades at a premium earnings multiple after its AI rally, while a growing reliance on a small number of powerful customers could increase bargaining pressure and make dividend growth more dependent on continued AI spending.

Insider Activity

In other news, Director Gayla J. Delly sold 1,890 shares of the company's stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $385.38, for a total value of $728,368.20. Following the transaction, 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Mark Brazeal sold 25,000 shares of the stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $401.33, for a total transaction of $10,033,250.00. Following the sale, the insider owned 194,989 shares in the company, valued at approximately $78,254,935.37. The trade was a 11.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 51,890 shares of company stock worth $20,241,368 over the last three months. 1.90% of the stock is currently owned by insiders.

Broadcom Stock Up 2.2%

Shares of Broadcom stock traded up $7.73 during midday trading on Monday, hitting $362.87. The company had a trading volume of 9,628,744 shares, compared to its average volume of 25,061,176. The company has a 50 day moving average of $372.74 and a 200 day moving average of $381.07. The stock has a market capitalization of $1.73 trillion, a P/E ratio of 46.38 and a beta of 1.46. Broadcom Inc. has a 52-week low of $289.96 and a 52-week high of $495.00. 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 (NASDAQ:AVGO - Get Free Report) last released its 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 return on equity of 48.33% and a net margin of 42.94%.The business had revenue of $29.59 billion for the quarter, compared to the consensus estimate of $29.24 billion. During the same period in the previous year, the company posted $1.69 earnings per share. The company's revenue for the quarter was up 85.5% compared to the same quarter last year. On average, equities analysts predict that Broadcom Inc. will post 10.37 earnings per share for the current fiscal year.

Broadcom Announces Dividend

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.