7,347 Broadcom Inc. $AVGO Shares Sold by Thurston Springer Miller Herd & Titak Inc.

Key Points

• Thurston Springer Miller Herd & Titak cut its Broadcom stake by 80.2% in the third quarter, selling 7,347 shares and retaining 1,809 shares valued at approximately $632,000. Institutional investors collectively own 76.43% of AVGO.
• Analysts remain broadly bullish, with one Strong Buy, 37 Buy and three Hold ratings, producing a “Moderate Buy” consensus and an average price target of $527.20. Broadcom’s AI accelerators, networking products and hyperscaler contracts are key growth catalysts, though valuation and AI-financing risks remain concerns.
• Broadcom shares fell 3.0% to $346.73, despite the company reporting quarterly earnings and revenue above analyst expectations and 85.5% year-over-year revenue growth. The company also declared a quarterly dividend of $0.65 per share, equivalent to a 0.7% annualized yield.

Thurston Springer Miller Herd & Titak Inc. reduced its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 80.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,809 shares of the semiconductor manufacturer's stock after selling 7,347 shares during the quarter. Broadcom accounts for 1.0% of Thurston Springer Miller Herd & Titak Inc.'s investment portfolio, making the stock its 10th biggest holding. Thurston Springer Miller Herd & Titak Inc.'s holdings in Broadcom were worth $632,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Cornerstone Advisors LLC acquired a new position in shares of Broadcom during the 2nd quarter worth $92,522,000. GAMMA Investing LLC boosted its position in shares of Broadcom by 8.8% in the 3rd quarter. GAMMA Investing LLC now owns 164,015 shares of the semiconductor manufacturer's stock worth $55,889,000 after buying an additional 13,317 shares in the last quarter. ANB Bank purchased a new position in Broadcom during the 3rd quarter valued at about $1,181,000. Bank of America Corp DE raised its position in Broadcom by 1.5% during 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 acquiring an additional 894,564 shares during the last quarter. Finally, Clear Harbor Asset Management LLC acquired a new position in Broadcom during the second quarter worth about $3,302,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. KeyCorp reaffirmed an "overweight" rating and issued a $575.00 price target on shares of Broadcom in a report on Thursday, September 3rd. Citic Securities raised shares of Broadcom to a "buy" rating and raised their price objective for the stock from $450.00 to $525.00 in a research note on Tuesday, September 8th. Lake Street Capital upgraded Broadcom to a "buy" rating in a research report on Thursday, September 3rd. UBS Group downgraded Broadcom from a "buy" rating to a "hold" rating in a research report on Thursday, September 3rd. Finally, Sanford C. Bernstein reaffirmed a "buy" rating on shares of Broadcom in a research note on Monday, September 21st. One analyst has rated the stock with a Strong Buy rating, thirty-seven have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Broadcom has an average 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: Custom AI accelerators and networking remain major catalysts. Broadcom is benefiting as hyperscalers diversify beyond Nvidia and develop their own chips. Reports point to customer orders extending into 2028, while the company is preparing to launch an AI networking platform at the OCP Global Summit. One Stock Could Benefit as AI Spending Moves Beyond Nvidia Broadcom To Launch AI Networking Platform
• Positive Sentiment: Analysts and investors continue to see fundamental strength. Broadcom’s revenue growth, AI-chip revenue and long-term hyperscaler contracts are being cited as evidence that the market may be undervaluing the business. Erste Group modestly raised its fiscal 2027 EPS estimate to $17.59, although it retained a Hold rating. Broadcom is The Steady Hand The Market Keeps Discounting
• Positive Sentiment: VMware introduced HyperArmor, a security product designed to protect the ESX hypervisor within VMware Cloud Foundation. The launch supports Broadcom’s infrastructure-software strategy and could strengthen its enterprise offering. Broadcom Introduces VMware HyperArmor
• Neutral Sentiment: CEO Hock Tan’s comments have produced mixed signals. He described AI investing as resembling a “casino” and said capital availability—not memory chips—is the main constraint on AI expansion. The remarks highlight bubble and financing risks, but also suggest demand remains strong. Broadcom CEO Delivers Stark Warning on Artificial Intelligence
• Negative Sentiment: Investors are questioning whether AI demand is sufficient to justify AVGO’s valuation. A potential $50 billion debt deal raises concerns about leverage and funding requirements across the AI ecosystem, while enthusiasm has weakened after recent concerns about OpenAI’s revenue outlook. What a $50 Billion Debt Deal Could Mean for Broadcom Stock

Broadcom Trading Down 3.0%

Shares of NASDAQ:AVGO traded down $10.58 during trading on Wednesday, reaching $346.73. The stock had a trading volume of 9,215,361 shares, compared to its average volume of 24,920,906. 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 has a market cap of $1.66 trillion, a P/E ratio of 44.33 and a beta of 1.46. The business has a fifty day moving average price of $369.27 and a 200-day moving average price of $383.32. Broadcom Inc. has a fifty-two week low of $289.96 and a fifty-two week 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 EPS for the quarter, beating analysts' consensus estimates of $3.22 by $0.10. Broadcom had a return on equity of 48.33% and a net margin of 42.94%. The business had revenue of $29.59 billion during the quarter, compared to the consensus estimate of $29.24 billion. During the same quarter in the previous year, the business earned $1.69 earnings per share. The business's revenue for the quarter was up 85.5% on a year-over-year basis. As a group, analysts anticipate that Broadcom Inc. will post 10.37 earnings per share 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 given a $0.65 dividend. The ex-dividend date of this dividend was Monday, September 21st. This represents a $2.60 annualized dividend and a yield of 0.7%. Broadcom's dividend payout ratio (DPR) is 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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