6,370 Broadcom Inc. $AVGO Shares Sold by Allen Investment Management LLC

Key Points

• Allen Investment Management cut its Broadcom stake by 1.1%, selling 6,370 shares in the third quarter. It still held 576,922 shares, valued at about $202.6 million, making Broadcom its 15th-largest holding.
• Institutional investors and hedge funds own 76.43% of Broadcom shares; several other firms increased their positions during the quarter.
• Analyst sentiment is broadly positive: MarketBeat reports a “Moderate Buy” consensus and an average price target of $530.52, with 39 analysts rating the stock a Buy.

Allen Investment Management LLC decreased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 576,922 shares of the semiconductor manufacturer's stock after selling 6,370 shares during the period. Broadcom comprises about 2.3% of Allen Investment Management LLC's portfolio, making the stock its 15th largest holding. Allen Investment Management LLC's holdings in Broadcom were worth $202,609,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of AVGO. Tennessee Valley Asset Management Partners boosted its stake in Broadcom by 1.9% during the 3rd quarter. Tennessee Valley Asset Management Partners now owns 15,854 shares of the semiconductor manufacturer's stock valued at $5,568,000 after purchasing an additional 300 shares during the period. Parallel Advisors LLC increased its stake in shares of Broadcom by 4.4% in the third quarter. Parallel Advisors LLC now owns 115,483 shares of the semiconductor manufacturer's stock valued at $40,557,000 after purchasing an additional 4,851 shares during the period. Flagship Wealth Advisors LLC raised its holdings in shares of Broadcom by 123.0% during the third quarter. Flagship Wealth Advisors LLC now owns 553 shares of the semiconductor manufacturer's stock valued at $194,000 after buying an additional 305 shares during the last quarter. Tamar Securities LLC raised its holdings in shares of Broadcom by 13.3% during the third quarter. Tamar Securities LLC now owns 5,444 shares of the semiconductor manufacturer's stock valued at $1,912,000 after buying an additional 638 shares during the last quarter. Finally, Destiny Capital Corp CO acquired a new position in shares of Broadcom during the third quarter worth approximately $203,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AVGO has been the subject of a number of recent analyst reports. William Blair lowered Broadcom from an "outperform" rating to a "market perform" rating in a report on Tuesday, October 27th. Raymond James Financial restated an "outperform" rating and issued a $475.00 target price (up from $450.00) on shares of Broadcom in a research report on Thursday, September 3rd. Jefferies Financial Group started coverage on Broadcom in a research note on Thursday, September 3rd. They set a "buy" rating and a $550.00 target price on the stock. Sanford C. Bernstein reiterated a "buy" rating on shares of Broadcom in a research report on Monday, September 21st. Finally, DA Davidson raised Broadcom from a "neutral" rating to a "buy" rating and increased their price target for the stock from $350.00 to $400.00 in a research note on Tuesday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $530.52.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $319.48 on Tuesday. The stock has a market cap of $1.53 trillion, a price-to-earnings ratio of 37.98 and a beta of 1.49. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.29. Broadcom Inc. has a 12 month low of $289.77 and a 12 month high of $495.00. The stock's 50 day moving average price is $346.90 and its 200 day moving average price is $366.13.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. The firm's revenue for the quarter was up 85.5% on a year-over-year basis. During the same period last year, the firm earned $1.69 EPS. Equities research analysts anticipate that Broadcom Inc. will post 10.37 earnings per share for the current fiscal year.

Broadcom Announces Dividend

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

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: A broader recovery in AI and chip shares helped lift Broadcom after concerns about data-center expansion and AI regulation contributed to the recent sell-off. Falling oil prices also supported the wider market. Why is Broadcom stock surging?
• Positive Sentiment: Coverage of Google’s large chip-spending forecast renewed focus on Broadcom’s role in custom AI chips. Broadcom is developing custom processors that could help Google and OpenAI meet AI-computing needs beyond reliance on GPUs. The Real Winner of Google’s Chip Forecast: Broadcom
• Positive Sentiment: Several investment articles argued that Broadcom’s AI and custom-chip prospects could support substantial upside, despite its recent share-price weakness. These are bullish opinions, not company guidance. Broadcom: Despite Two Fearful Narratives, Big Healthy Upside
• Neutral Sentiment: Broadcom said it will report fourth-quarter and fiscal 2026 results after the market closes on December 9. The date sets a potential upcoming catalyst but provides no new financial results. Broadcom earnings announcement
• Neutral Sentiment: Broadcom contributed its VM API project to the Cloud Native Computing Foundation Sandbox, an open-source ecosystem development that may support its software presence but is not an immediate earnings catalyst. Broadcom contributes VM API project to CNCF
• Negative Sentiment: Risks remain: articles cited margin pressure and a sizable financing structure as concerns, while debate over data-center permitting, policy and AI infrastructure debt could weigh on the chip trade. That makes the recent recovery vulnerable if investor concerns return. Broadcom analyst outlook and risks

About Broadcom

Broadcom Inc is a global technology company that designs and supplies semiconductor products and infrastructure software. Its semiconductor portfolio includes chips and components used in networking, broadband communications, wireless connectivity, data storage, and industrial applications. The company serves businesses across a range of industries, including communications, enterprise technology, and consumer electronics.

Broadcom also provides infrastructure software, including products for virtualization, cloud computing, cybersecurity, and enterprise operations.

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