7,710 Broadcom Inc. $AVGO Shares Sold by Crossmark Global Holdings Inc.

Key Points

• Crossmark Global Holdings reduced its Broadcom stake by 2% in the third quarter, selling 7,710 shares and retaining 384,027 shares valued at approximately $134.9 million. Institutional investors and hedge funds collectively own 76.43% of the company.
• Broadcom recently reported stronger-than-expected results, with quarterly earnings of $3.32 per share and revenue of $29.59 billion, up 85.5% year over year. The company also pays an annualized dividend of $2.60 per share, yielding about 0.8%.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and a $529.17 price target, supported by demand for custom AI accelerators. However, supplier diversification by Alphabet, rising competition and broader concerns about AI investment returns remain key risks.

Crossmark Global Holdings Inc. cut its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 2.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 384,027 shares of the semiconductor manufacturer's stock after selling 7,710 shares during the period. Broadcom comprises approximately 1.6% of Crossmark Global Holdings Inc.'s holdings, making the stock its 7th largest holding. Crossmark Global Holdings Inc.'s holdings in Broadcom were worth $134,866,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Legal & General Group Plc acquired a new position in Broadcom in the second quarter worth $11,998,148,000. Bank of New York Mellon Corp bought a new stake in shares of Broadcom during the second quarter worth $10,528,191,000. Jupiter Topco LLC acquired a new stake in shares of Broadcom in the second quarter valued at $7,396,271,000. State Street Corp increased its stake in shares of 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 buying an additional 16,651,378 shares in the last quarter. Finally, Deutsche Bank AG acquired a new stake in shares of Broadcom in the second quarter valued at $5,661,216,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Stock Down 0.5%

Shares of AVGO opened at $321.68 on Friday. The firm has a market capitalization of $1.54 trillion, a price-to-earnings ratio of 41.08 and a beta of 1.46. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.29 and a current ratio of 2.50. The business's fifty day moving average price is $356.05 and its two-hundred day moving average price is $384.25. Broadcom Inc. has a 52 week low of $289.96 and a 52 week high of $495.00.

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

Broadcom Dividend Announcement

The business also recently disclosed 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 yield of 0.8%. The ex-dividend date was Monday, September 21st. Broadcom's dividend payout ratio is currently 33.21%.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: ETF investors bought approximately $89.8 million of Broadcom shares on October 21, signaling continued institutional demand. Broadcom Sees $89.8 Million in Net ETF Buying
• Positive Sentiment: Analysts continue to highlight Broadcom’s leadership in custom AI accelerators. Demand from major AI labs and hyperscalers, including Anthropic, OpenAI and Meta, supports management’s ambitious long-term AI semiconductor growth outlook. 3 Magnificent AI Chip Stocks
• Positive Sentiment: Tigress Financial initiated coverage with a Buy rating and a $600 price target, implying substantial upside from recent trading levels. Tigress Financial Broadcom Coverage
• Positive Sentiment: Broadcom launched Arcot Scam Defense, a real-time fraud-detection feature for digital payments. Strong initial pilot results could create incremental growth for its software and security businesses. Broadcom Debuts Arcot Scam Defense
• Neutral Sentiment: Broadcom remains the leading custom-chip design partner, but Alphabet is diversifying its TPU suppliers. Although Broadcom may lose market share, the overall AI accelerator market is expected to expand rapidly, potentially offsetting that loss. Broadcom AI Chip Business Risks
• Negative Sentiment: Investors are worried that customer-owned chip design and increased competition from MediaTek could reduce Broadcom’s role and margins in future AI programs. Alphabet’s supplier diversification is the clearest near-term risk. Broadcom AI Chip Business Risks
• Negative Sentiment: The broader market sell-off is weighing on AI stocks amid higher oil prices, inflation concerns and questions about whether massive data-center investments will generate sufficient returns. Technical commentary identifies the $320 area as an important support test. Broadcom Faces Critical $320 Test

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. reaffirmed a "buy" rating on shares of Broadcom in a report on Thursday, September 3rd. Weiss Ratings raised shares of Broadcom from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, October 8th. Rosenblatt Securities assumed coverage on shares of Broadcom in a research report on Thursday, September 3rd. They issued a "buy" rating and a $600.00 price objective for the company. Cantor Fitzgerald raised their price objective on shares of Broadcom from $525.00 to $600.00 and gave the company an "overweight" rating in a research report on Thursday, September 3rd. Finally, The Goldman Sachs Group boosted their target price on shares of Broadcom from $525.00 to $540.00 and gave the stock a "buy" rating in a research note on Thursday, September 3rd. One analyst has rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $529.17.

Broadcom Company 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.

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