72,795 Broadcom Inc. $AVGO Shares Sold by William Blair Investment Management LLC

Key Points

• William Blair Investment Management cut its Broadcom stake by 3.5%, selling 72,795 shares, but still held 1,983,340 shares valued at about $696.5 million.
• Institutional ownership stands at 76.43%; several major investors, including State Street and Bank of America, increased their positions.
• Analysts remain broadly positive, with a “Moderate Buy” consensus and an average price target of $525.19, despite some mixed rating changes.

William Blair Investment Management LLC lessened its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 1,983,340 shares of the semiconductor manufacturer's stock after selling 72,795 shares during the quarter. Broadcom comprises approximately 2.3% of William Blair Investment Management LLC's holdings, making the stock its 6th largest position. William Blair Investment Management LLC's holdings in Broadcom were worth $696,529,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of AVGO. State Street Corp raised its stake in shares of Broadcom by 8.7% during 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 purchasing an additional 16,651,378 shares in the last quarter. Bank of America Corp DE grew its position in Broadcom by 4.6% in the 2nd quarter. Bank of America Corp DE now owns 61,423,013 shares of the semiconductor manufacturer's stock valued at $23,202,543,000 after buying an additional 2,685,916 shares in the last quarter. Wellington Management Group LLP grew its position in Broadcom by 3.8% in the 2nd quarter. Wellington Management Group LLP now owns 51,580,703 shares of the semiconductor manufacturer's stock valued at $19,484,611,000 after buying an additional 1,892,721 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Broadcom by 2.9% during the 2nd 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 buying an additional 1,140,598 shares during the period. Finally, Legal & General Group Plc acquired a new position in Broadcom during the 2nd quarter valued at about $11,998,148,000. Institutional investors own 76.43% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on AVGO. Raymond James Financial restated an "outperform" rating and set a $475.00 price target (up from $450.00) on shares of Broadcom in a research report on Thursday, September 3rd. Jefferies Financial Group started coverage on shares of Broadcom in a report on Thursday, September 3rd. They issued a "buy" rating and a $550.00 price objective for the company. Citigroup lowered shares of Broadcom from a "buy" rating to a "neutral" rating in a research note on Tuesday, October 27th. Lake Street Capital raised Broadcom to a "buy" rating in a report on Thursday, September 3rd. Finally, JPMorgan Chase & Co. reissued a "buy" rating on shares of Broadcom in a report on Thursday, September 3rd. One analyst has rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $525.19.

Key Broadcom News

Here's some of the latest news about AVGO:

• Positive Sentiment: Broadcom could benefit as cloud providers diversify beyond NVIDIA and invest in custom AI chips. The company designs custom ASICs for hyperscalers, and Anthropic’s disclosed spending commitments have been cited as support for Broadcom’s growth outlook. Anthropic’s S-1 strengthens the case for Broadcom’s AI growth
• Neutral Sentiment: Broadcom had recently rallied as investors considered whether NVIDIA’s leadership turmoil could redirect demand to rival chipmakers. NVIDIA’s rebound on Friday, however, prompted some investors to reassess that rotation. AMD, Broadcom stocks fall as Nvidia rebounds
• Negative Sentiment: Rothschild & Co Redburn cut AVGO to Neutral from Buy and lowered its price target by 33%, from $595 to $398. It flagged risk from Broadcom’s growing exposure to AI financing arrangements, including reliance on AI companies such as Anthropic and OpenAI that are not yet self-funding. Broadcom stock falls as firm flags AI financing risks

Broadcom Price Performance

NASDAQ:AVGO traded down $17.35 during mid-day trading on Friday, reaching $347.01. 31,579,948 shares of the stock were exchanged, compared to its average volume of 26,761,208. The business has a fifty day moving average price of $345.39 and a 200 day moving average price of $366.55. The firm has a market capitalization of $1.66 trillion, a PE ratio of 44.32 and a beta of 1.49. Broadcom Inc. has a 1-year low of $289.77 and a 1-year high of $495.00. 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 (NASDAQ:AVGO - Get Free Report) last issued its quarterly 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 firm had revenue of $29.59 billion for the quarter, compared to analysts' expectations of $29.24 billion. During the same period in the previous year, the business earned $1.69 earnings per share. Broadcom's revenue for the quarter was up 85.5% compared to the same quarter last year. Research analysts expect that Broadcom Inc. will post 10.20 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a dividend yield of 0.7%. Broadcom's payout ratio is currently 33.21%.

Broadcom Company Profile

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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