2,869 Broadcom Inc. $AVGO Shares Sold by Bank of New Hampshire

Key Points

• Bank of New Hampshire cut its Broadcom position by 22.6% in the third quarter, selling 2,869 shares and retaining 9,841 shares valued at approximately $3.46 million. Institutional investors still own 76.43% of Broadcom.
• Broadcom reported quarterly earnings of $3.32 per share and revenue of $29.59 billion, beating analyst estimates, while revenue increased 85.5% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $527.20.
• Broadcom shares recently traded at $375.81, with a market capitalization of roughly $1.79 trillion and a price-to-earnings ratio of 48.00. Insiders have sold 51,890 shares worth approximately $20.24 million over the past three months, and the company pays a $0.65 quarterly dividend.

Bank of New Hampshire trimmed its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 22.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,841 shares of the semiconductor manufacturer's stock after selling 2,869 shares during the period. Bank of New Hampshire's holdings in Broadcom were worth $3,456,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of AVGO. Cornerstone Advisors LLC purchased a new stake in Broadcom in the 2nd quarter worth approximately $92,522,000. Bank of America Corp DE increased its holdings in shares of Broadcom by 1.5% in the first quarter. Bank of America Corp DE now owns 58,737,097 shares of the semiconductor manufacturer's stock worth $18,179,719,000 after purchasing an additional 894,564 shares during the period. Clear Harbor Asset Management LLC bought a new position in shares of Broadcom in the second quarter worth $3,302,000. Bartlett & CO. Wealth Management LLC raised its position in shares of Broadcom by 129.3% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 110,048 shares of the semiconductor manufacturer's stock worth $34,061,000 after buying an additional 62,050 shares in the last quarter. Finally, Violich Capital Management Inc. raised its position in shares of Broadcom by 26.1% in the third quarter. Violich Capital Management Inc. now owns 21,791 shares of the semiconductor manufacturer's stock worth $7,653,000 after buying an additional 4,511 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Potential $42 billion Anthropic financing deal: Reports indicate Broadcom may be arranging a large financing package tied to Anthropic’s purchase of AI chips and related infrastructure. If completed, the deal could provide significant visibility into future AI revenue and reinforce Broadcom’s role as a key supplier to hyperscale customers. Broadcom Stock Jumps Following Reported $42 Billion Financing Deal With Anthropic Why Is Broadcom Lining Up a Large AI Chip Financing Deal?
• Positive Sentiment: Custom-chip momentum supports the AI growth story: Marvell’s investor-day discussion of custom AI silicon lifted sentiment across the sector, highlighting demand for specialized accelerators and networking products. Broadcom is viewed as one of the leading design partners for cloud companies developing their own chips. Marvell Rallies as Investor Day Presses the Custom AI Silicon Case
• Positive Sentiment: Analysts remain constructive on AI demand: Recent coverage emphasizes Broadcom’s sharply accelerating AI semiconductor revenue, including reported year-over-year growth above 200%, and argues that data-center power constraints may affect competitors and project timing more than Broadcom and Nvidia. Nvidia and Broadcom May Be Protected From AI Power Shortage
• Neutral Sentiment: Options activity signals bullish positioning: Investors purchased approximately 426,000 Broadcom call options, about 34% above typical daily call volume. This indicates increased speculative interest but does not guarantee sustained buying in the stock.
• Negative Sentiment: Financing and valuation risks remain: Critics question whether Anthropic-related arrangements could represent circular financing, in which supplier financing indirectly supports customer purchases. Broadcom also trades at a premium multiple, making the shares vulnerable if AI growth slows or the reported deal fails to materialize. Broadcom Has a New Problem: Anthropic

Insider Activity at Broadcom

In other news, insider Mark Brazeal sold 25,000 shares of the business's stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $401.33, for a total value of $10,033,250.00. Following the completion of the sale, the insider directly 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Gayla Delly sold 1,890 shares of the company's stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $385.38, for a total transaction of $728,368.20. Following the completion of the sale, the director directly owned 31,326 shares of the company's stock, valued at $12,072,413.88. This trade represents a 5.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 51,890 shares of company stock worth $20,241,368 over the last three months. Insiders own 1.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on AVGO shares. HSBC lowered their price target on Broadcom from $600.00 to $560.00 and set a "buy" rating on the stock in a report on Thursday, September 3rd. DA Davidson set a $350.00 price objective on shares of Broadcom and gave the stock a "neutral" rating in a research report on Friday, September 4th. TD Cowen reaffirmed a "buy" rating and issued a $475.00 target price (down from $500.00) on shares of Broadcom in a research note on Thursday, September 3rd. Weiss Ratings lowered shares of Broadcom from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, July 30th. Finally, Cantor Fitzgerald boosted their price target on shares of Broadcom from $525.00 to $600.00 and gave the stock an "overweight" rating in a research note on Thursday, September 3rd. One research 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 company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $527.20.

Broadcom Price Performance

Shares of AVGO traded up $13.30 during midday trading on Tuesday, reaching $375.81. The stock had a trading volume of 30,765,540 shares, compared to its average volume of 25,155,971. The company has a current ratio of 2.50, a quick ratio of 2.29 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $1.79 trillion, a price-to-earnings ratio of 48.00 and a beta of 1.46. The company's 50-day moving average is $372.33 and its 200 day moving average is $381.36. Broadcom Inc. has a 12-month low of $289.96 and a 12-month high of $495.00.

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

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.7%. 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 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.

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