16,300 Shares in Broadcom Inc. $AVGO Acquired by Canoe Financial LP

Key Points

• Canoe Financial LP acquired 16,300 Broadcom shares during the third quarter, valued at approximately $5.6 million. Institutional investors collectively own 76.43% of Broadcom.
• Analysts remain broadly bullish, with 38 Buy ratings, one Strong Buy and three Holds; the stock has an average rating of “Moderate Buy” and a consensus price target of $529.17.
• Broadcom’s AI-chip demand and strong quarterly results support its outlook, but risks include Alphabet diversifying TPU suppliers, rising competition and broader market pressure on AI stocks.

Canoe Financial LP bought a new stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 16,300 shares of the semiconductor manufacturer's stock, valued at approximately $5,601,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. State Street Corp increased its stake in Broadcom by 8.7% in the second quarter. State Street Corp now owns 208,031,610 shares of the semiconductor manufacturer's stock worth $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% during 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 purchasing an additional 2,685,916 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Broadcom by 3.8% during the second 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 period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake 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 purchasing an additional 1,140,598 shares during the period. Finally, Legal & General Group Plc bought a new position in shares of Broadcom in the second quarter worth about $11,998,148,000. 76.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

AVGO has been the topic of several recent analyst reports. Tigress Financial initiated coverage on shares of Broadcom in a research note on Thursday. They issued a "buy" rating and a $600.00 price target on the stock. JPMorgan Chase & Co. reiterated a "buy" rating on shares of Broadcom in a report on Thursday, September 3rd. Truist Financial lowered their price objective on shares of Broadcom from $550.00 to $520.00 and set a "buy" rating for the company in a research report on Thursday, September 3rd. HSBC dropped their target price on shares of Broadcom from $600.00 to $560.00 and set a "buy" rating on the stock in a research note on Thursday, September 3rd. Finally, DA Davidson set a $350.00 target price on shares of Broadcom and gave the stock a "neutral" rating in a research report on Friday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $529.17.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: ETF investors bought approximately $89.8 million of Broadcom shares on October 21, signaling continued institutional demand. Broadcom Sees $89.8 Million in Net ETF Buying
• Positive Sentiment: Analysts continue to highlight Broadcom’s leadership in custom AI accelerators. Demand from major AI labs and hyperscalers, including Anthropic, OpenAI and Meta, supports management’s ambitious long-term AI semiconductor growth outlook. 3 Magnificent AI Chip Stocks
• Positive Sentiment: Tigress Financial initiated coverage with a Buy rating and a $600 price target, implying substantial upside from recent trading levels. Tigress Financial Broadcom Coverage
• Positive Sentiment: Broadcom launched Arcot Scam Defense, a real-time fraud-detection feature for digital payments. Strong initial pilot results could create incremental growth for its software and security businesses. Broadcom Debuts Arcot Scam Defense
• Neutral Sentiment: Broadcom remains the leading custom-chip design partner, but Alphabet is diversifying its TPU suppliers. Although Broadcom may lose market share, the overall AI accelerator market is expected to expand rapidly, potentially offsetting that loss. Broadcom AI Chip Business Risks
• Negative Sentiment: Investors are worried that customer-owned chip design and increased competition from MediaTek could reduce Broadcom’s role and margins in future AI programs. Alphabet’s supplier diversification is the clearest near-term risk. Broadcom AI Chip Business Risks
• Negative Sentiment: The broader market sell-off is weighing on AI stocks amid higher oil prices, inflation concerns and questions about whether massive data-center investments will generate sufficient returns. Technical commentary identifies the $320 area as an important support test. Broadcom Faces Critical $320 Test

Broadcom Stock Performance

Shares of Broadcom stock opened at $321.68 on Friday. The firm has a market cap of $1.54 trillion, a P/E ratio of 41.08 and a beta of 1.46. 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 Inc. has a 12 month low of $289.96 and a 12 month high of $495.00. The stock's fifty day moving average price is $356.05 and its 200-day moving average price is $384.25.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share for the quarter, beating the consensus estimate of $3.22 by $0.10. The firm had revenue of $29.59 billion during the quarter, compared to the consensus estimate of $29.24 billion. Broadcom had a return on equity of 48.33% and a net margin of 42.94%. The firm's quarterly revenue was up 85.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.69 earnings per share. On average, equities research analysts expect that Broadcom Inc. will post 10.37 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st were given 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. Broadcom's dividend payout ratio is presently 33.21%.

Broadcom Profile

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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