6,843 Broadcom Inc. $AVGO Shares Bought by Citizens Financial Group Inc. RI

Key Points

• Citizens Financial Group increased its Broadcom stake by 2.2% in the third quarter, adding 6,843 shares for a total of 324,034 shares valued at approximately $113.8 million. Institutional investors collectively own 76.43% of Broadcom.
• Broadcom reported strong quarterly results, with revenue rising 85.5% year over year to $29.59 billion and earnings per share of $3.32, exceeding analyst expectations. The company also declared a quarterly dividend of $0.65 per share.
• Analysts remain broadly positive, with Broadcom carrying a “Moderate Buy” consensus rating and an average price target of $530.52, although risks include customer concentration, AI infrastructure financing obligations, supply constraints and valuation pressure.

Citizens Financial Group Inc. RI lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 2.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 324,034 shares of the semiconductor manufacturer's stock after purchasing an additional 6,843 shares during the period. Broadcom accounts for about 1.3% of Citizens Financial Group Inc. RI's portfolio, making the stock its 15th biggest position. Citizens Financial Group Inc. RI's holdings in Broadcom were worth $113,797,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Networth Advisors LLC boosted its holdings in shares of Broadcom by 546.2% during the 1st quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer's stock worth $26,000 after buying an additional 71 shares in the last quarter. Core Capital Management & Research inc. bought a new stake in shares of Broadcom in the 2nd quarter valued at $31,000. Harborfront Financial Group LLC bought a new stake in shares of Broadcom in the 2nd quarter valued at $38,000. Align Financial LLC lifted its position in shares of Broadcom by 67.2% during the 3rd quarter. Align Financial LLC now owns 112 shares of the semiconductor manufacturer's stock valued at $38,000 after acquiring an additional 45 shares during the period. Finally, Curry Webb Wealth Management LLC acquired a new position in shares of Broadcom during the 3rd quarter valued at $41,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Stock Up 2.8%

Shares of NASDAQ AVGO opened at $351.81 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.29. The company has a 50-day moving average price of $353.92 and a 200-day moving average price of $367.09. The stock has a market capitalization of $1.68 trillion, a P/E ratio of 44.93 and a beta of 1.46. Broadcom Inc. has a 1 year low of $289.96 and a 1 year high of $495.00.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted 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. Broadcom had a net margin of 42.94% and a return on equity of 48.33%. The company had revenue of $29.59 billion for the quarter, compared to analyst estimates of $29.24 billion. During the same quarter in the prior year, the business posted $1.69 EPS. The firm's revenue was up 85.5% compared to the same quarter last year. On average, equities research analysts forecast that Broadcom Inc. will post 10.37 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently disclosed 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 0.7%. The ex-dividend date of this dividend was Monday, September 21st. Broadcom's payout ratio is currently 33.21%.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: D.A. Davidson upgraded Broadcom to Buy from Neutral and raised its price target from $350 to $400. The firm cited continued AI spending and potential public offerings by major AI developers, improving sentiment toward Broadcom’s custom-chip and networking outlook. D.A. Davidson upgrades Broadcom to buy from neutral
• Positive Sentiment: A $63 billion financing structure for Anthropic’s AI infrastructure is the main business catalyst. Banks and Blackstone reportedly committed financing for a special-purpose vehicle to purchase and lease Broadcom accelerators and networking equipment. Truist estimates the arrangement could generate as much as $30 billion in revenue, while the deal signals strong demand for Broadcom’s AI systems. Broadcom Anthropic financing structure
• Positive Sentiment: Credit-quality support also improved. Fitch affirmed Broadcom’s A- rating with a positive outlook, citing strong cash generation and operating momentum. Rosenblatt separately reaffirmed a Buy rating with a $600 target, underscoring the bullish view of long-term AI demand. Fitch affirms Broadcom rating
• Neutral Sentiment: Broadcom may participate in a potential investment in Meta, alongside other chip suppliers. The move could deepen customer ties and provide exposure to Meta’s AI expansion, but investing in a major customer also raises concerns about circular financing and customer concentration. Chip suppliers may invest in Meta
• Negative Sentiment: The Anthropic arrangement introduces meaningful risk. Banks reportedly considered withdrawing, and Broadcom’s potentially large AI-rack lease backstop could create off-balance-sheet obligations. Analysts also cite rising AI-related margin pressure, supply constraints, dependence on a concentrated customer base and competition from Credo. Higher interest rates could further pressure the valuation of high-growth technology shares.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on AVGO shares. Jefferies Financial Group initiated coverage on shares of Broadcom in a report on Thursday, September 3rd. They issued a "buy" rating and a $550.00 price target for the company. Citigroup lowered shares of Broadcom from a "buy" rating to a "neutral" rating in a report on Tuesday. BMO Capital Markets increased their price objective on shares of Broadcom from $455.00 to $575.00 and gave the stock an "outperform" rating in a research report on Thursday, September 3rd. Bank of America reduced their target price on Broadcom from $530.00 to $460.00 and set a "buy" rating for the company in a research note on Thursday, September 3rd. Finally, Citic Securities raised Broadcom to a "buy" rating and boosted their target price for the company from $450.00 to $525.00 in a research report on Tuesday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Broadcom currently has a consensus rating of "Moderate Buy" and a consensus price target of $530.52.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.