1,561 Broadcom Inc. $AVGO Shares Purchased by Ashton Thomas Securities LLC

Key Points

• Ashton Thomas Securities increased its Broadcom stake by 7.6% in the third quarter, purchasing 1,561 additional shares and bringing its holdings to 22,191 shares valued at approximately $7.8 million. Institutional investors and hedge funds collectively own 76.43% of AVGO.
• Broadcom is benefiting from strong AI-related growth prospects, including a potential $63 billion Anthropic financing arrangement and additional demand tied to Meta’s AI expansion. The company projects AI semiconductor revenue of about $115 billion in fiscal 2027 and $230 billion in fiscal 2028.
• Despite a consensus “Moderate Buy” rating and a $530.52 average analyst price target, Broadcom shares recently fell 5.5% to $326.08 and trade below their 50-day and 200-day moving averages. Investors remain concerned about demanding valuation, AI infrastructure costs, and the execution and financial risks of the Anthropic deal.

Ashton Thomas Securities LLC raised its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 7.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,191 shares of the semiconductor manufacturer's stock after acquiring an additional 1,561 shares during the quarter. Broadcom makes up approximately 0.8% of Ashton Thomas Securities LLC's investment portfolio, making the stock its 26th largest position. Ashton Thomas Securities LLC's holdings in Broadcom were worth $7,793,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. MBE Wealth Management LLC grew its holdings in shares of Broadcom by 19.0% during the third quarter. MBE Wealth Management LLC now owns 1,540 shares of the semiconductor manufacturer's stock worth $541,000 after purchasing an additional 246 shares during the last quarter. Black Diamond Financial LLC raised its holdings in Broadcom by 96.0% in the 3rd quarter. Black Diamond Financial LLC now owns 1,068 shares of the semiconductor manufacturer's stock valued at $375,000 after buying an additional 523 shares during the last quarter. Pflug Koory LLC raised its holdings in Broadcom by 255.7% in the 3rd quarter. Pflug Koory LLC now owns 1,067 shares of the semiconductor manufacturer's stock valued at $375,000 after buying an additional 767 shares during the last quarter. DMC Group LLC boosted its position in Broadcom by 11.5% during the 3rd quarter. DMC Group LLC now owns 1,161 shares of the semiconductor manufacturer's stock worth $408,000 after buying an additional 120 shares during the period. Finally, Cahaba Wealth Management Inc. boosted its position in Broadcom by 3.6% during the 3rd quarter. Cahaba Wealth Management Inc. now owns 6,256 shares of the semiconductor manufacturer's stock worth $2,197,000 after buying an additional 216 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

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 Ratings Changes

AVGO has been the topic of a number of research reports. Cantor Fitzgerald boosted their target price on shares of Broadcom from $525.00 to $600.00 and gave the stock an "overweight" rating in a report on Thursday, September 3rd. JPMorgan Chase & Co. reissued a "buy" rating on shares of Broadcom in a research note on Thursday, September 3rd. UBS Group downgraded Broadcom from a "hold" rating to a "neutral" rating in a report on Tuesday. The Goldman Sachs Group raised their target price on Broadcom from $525.00 to $540.00 and gave the stock a "buy" rating in a research report on Thursday, September 3rd. Finally, HSBC cut their target price on Broadcom from $600.00 to $560.00 and set a "buy" rating on the stock in a report on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $530.52.

Broadcom Trading Down 5.5%

AVGO opened at $326.08 on Friday. Broadcom Inc. has a twelve month low of $289.96 and a twelve month high of $495.00. The company has a quick ratio of 2.29, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. The company has a fifty 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 PE ratio of 41.65 and a beta of 1.46.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share 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 the consensus estimate of $29.24 billion. Broadcom had a net margin of 42.94% and a return on equity of 48.33%. Broadcom's quarterly revenue was up 85.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.69 earnings per share. On average, sell-side analysts predict that Broadcom Inc. will post 10.37 EPS for the current year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Monday, September 21st. Broadcom's dividend payout ratio (DPR) is presently 33.21%.

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.

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