3,364 Shares of Broadcom Inc. $AVGO Acquired by ANB Bank

Key Points

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ANB Bank bought a new stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,364 shares of the semiconductor manufacturer's stock, valued at approximately $1,181,000.

A number of other institutional investors have also recently added to or reduced their stakes in AVGO. Legal & General Group Plc acquired a new position in shares of Broadcom in the 2nd quarter valued at about $11,998,148,000. Bank of New York Mellon Corp bought a new position in Broadcom in the second quarter worth about $10,528,191,000. Jupiter Topco LLC acquired a new position in Broadcom in the second quarter valued at approximately $7,396,271,000. State Street Corp boosted 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 valued at $75,367,711,000 after acquiring an additional 16,651,378 shares during the period. Finally, Deutsche Bank AG bought a new position in shares of Broadcom during the second quarter valued at approximately $5,661,216,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Stock Up 0.4%

Shares of Broadcom stock opened at $361.54 on Friday. Broadcom Inc. has a 12-month low of $289.96 and a 12-month high of $495.00. The firm has a market capitalization of $1.73 trillion, a PE ratio of 46.17 and a beta of 1.46. 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 stock's fifty day moving average is $371.24 and its 200-day moving average is $382.38.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted 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 net margin of 42.94% and a return on equity of 48.33%. The company had revenue of $29.59 billion during the quarter, compared to the consensus estimate of $29.24 billion. During the same period in the previous year, the firm posted $1.69 earnings per share. The company's revenue for the quarter was up 85.5% compared to the same quarter last year. Equities analysts anticipate that Broadcom Inc. will post 10.37 earnings per share for the current year.

Broadcom Announces Dividend

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

Analyst Ratings Changes

AVGO has been the subject of several analyst reports. Morgan Stanley reissued an "overweight" rating and set a $505.00 price target (up from $502.00) on shares of Broadcom in a report on Thursday, September 3rd. Evercore set a $578.00 target price on shares of Broadcom and gave the stock an "outperform" rating in a research report on Thursday, September 3rd. Raymond James Financial reaffirmed an "outperform" rating and set a $475.00 price target (up from $450.00) on shares of Broadcom in a report on Thursday, September 3rd. Citic Securities upgraded Broadcom to a "buy" rating and boosted their price objective for the stock from $450.00 to $525.00 in a research report on Tuesday, September 8th. Finally, Piper Sandler initiated coverage on Broadcom in a report on Wednesday, September 9th. They issued an "overweight" rating and a $460.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, thirty-seven have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $527.20.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom is reportedly arranging more than $50 billion in financing for custom AI chips being developed with OpenAI. Although discussions are preliminary, the potential project underscores the scale of expected demand for Broadcom’s custom silicon and could support substantial future revenue. Broadcom seeks more than $50 billion to finance OpenAI AI chips
• Positive Sentiment: At the OCP Global Summit, Broadcom highlighted new networking technologies designed to help hyperscalers scale AI clusters. The announcements reinforce its positioning in high-speed networking and custom AI infrastructure. Broadcom AI networking innovations
• Positive Sentiment: Record profits at Samsung and TSMC are being viewed as evidence that semiconductor demand and AI-related capital spending remain strong, a favorable backdrop for Broadcom’s chip and networking businesses. Record profits at Samsung and TSMC
• Positive Sentiment: Analysts and commentators continue to point to Broadcom’s rapid AI revenue growth and its roughly 24% decline from its 52-week high as a potential entry point, despite expectations for strong earnings growth. Broadcom is lagging the market

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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