AEGON ASSET MANAGEMENT UK Plc Sells 137,165 Shares of Broadcom Inc. $AVGO

Key Points

• AEGON Asset Management UK cut its Broadcom stake by 11.3% in the third quarter, selling 137,165 shares. It still held 1,079,513 shares, worth about $379.1 million, making Broadcom its fourth-largest portfolio holding.
• Broadcom reported quarterly EPS of $3.32, beating the $3.22 consensus, and revenue of $29.59 billion, up 85.5% year over year. The company also paid a quarterly dividend of $0.65 per share.
• Analyst sentiment remained broadly positive: the stock had a “Moderate Buy” consensus rating and an average price target of $530.52. News coverage cited continued AI-chip demand as a potential growth driver.

AEGON ASSET MANAGEMENT UK Plc decreased its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 11.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,079,513 shares of the semiconductor manufacturer's stock after selling 137,165 shares during the period. Broadcom accounts for about 3.9% of AEGON ASSET MANAGEMENT UK Plc's portfolio, making the stock its 4th biggest holding. AEGON ASSET MANAGEMENT UK Plc's holdings in Broadcom were worth $379,114,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in AVGO. Cornerstone Advisors LLC purchased a new stake in shares of Broadcom in the 2nd quarter worth approximately $92,522,000. GAMMA Investing LLC increased its holdings in Broadcom by 8.8% during the third quarter. GAMMA Investing LLC now owns 164,015 shares of the semiconductor manufacturer's stock valued at $55,889,000 after buying an additional 13,317 shares during the period. ANB Bank purchased a new position in Broadcom during the third quarter valued at approximately $1,181,000. Bank of America Corp DE raised its stake in Broadcom by 1.5% in 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 buying an additional 894,564 shares in the last quarter. Finally, Clear Harbor Asset Management LLC purchased a new stake in Broadcom during the second quarter worth $3,302,000. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Performance

NASDAQ AVGO opened at $345.22 on Thursday. Broadcom Inc. has a twelve month low of $289.77 and a twelve month high of $495.00. The stock has a fifty day simple moving average of $345.65 and a 200-day simple moving average of $366.28. The stock has a market cap of $1.65 trillion, a PE ratio of 44.09 and a beta of 1.49. 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 posted its quarterly earnings data 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 firm had revenue of $29.59 billion for 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 company's quarterly revenue was up 85.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.69 EPS. Equities analysts anticipate that Broadcom Inc. will post 10.37 earnings per share for the current year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st were given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, September 21st. Broadcom's dividend payout ratio (DPR) is 33.21%.

Key Stories Impacting Broadcom

Here are a few of the latest stories about AVGO:

• Positive Sentiment: Analysts say Google’s latest TPU developments reinforce Broadcom’s central role in custom AI chips, supporting expectations for ongoing demand from major technology customers. Google's latest TPUs show Broadcom remains central: JPM
• Positive Sentiment: Coverage of Anthropic points to substantial cash and rising revenue as support for its large commitment involving Broadcom, bolstering confidence in the AI partnership and related chip demand. Anthropic's S-1 Strengthens the Case for Broadcom's AI Growth
• Neutral Sentiment: Some commentary views Broadcom as a potential beneficiary of continued AI investment, while noting that its shares have retreated from earlier highs. Am I Buying the Dip in Broadcom Stock?

Analyst Upgrades and Downgrades

Several analysts have weighed in on AVGO shares. Wall Street Zen downgraded shares of Broadcom from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 18th. BMO Capital Markets upped their target price on Broadcom from $455.00 to $575.00 and gave the stock an "outperform" rating in a research note on Thursday, September 3rd. Wedbush began coverage on Broadcom in a report on Tuesday, October 27th. They issued an "outperform" rating on the stock. KeyCorp reissued an "overweight" rating and issued a $575.00 price target on shares of Broadcom in a research note on Thursday, September 3rd. Finally, UBS Group lowered shares of Broadcom from a "hold" rating to a "neutral" rating in a research report on Tuesday, October 27th. One research analyst has rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $530.52.

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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