Bell Asset Management Ltd Decreases Position in Broadcom Inc. $AVGO

Key Points

• Bell Asset Management cut its Broadcom stake by 23.3% in the third quarter, selling 9,312 shares and retaining 30,680 shares valued at approximately $10.8 million. Broadcom remains the firm’s sixth-largest holding and represents about 4% of its portfolio.
• Broadcom reported quarterly revenue of $29.59 billion and adjusted earnings of $3.32 per share, exceeding analyst expectations; revenue rose 85.5% year over year. Institutional investors own approximately 76.4% of the company.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $527.20, while the stock traded near $360.14 and carried a valuation of roughly 46 times earnings. Broadcom also declared a quarterly dividend of $0.65 per share, yielding about 0.7% annually.

Bell Asset Management Ltd reduced its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 23.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,680 shares of the semiconductor manufacturer's stock after selling 9,312 shares during the quarter. Broadcom comprises approximately 4.0% of Bell Asset Management Ltd's portfolio, making the stock its 6th biggest holding. Bell Asset Management Ltd's holdings in Broadcom were worth $10,775,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. State Street Corp increased its position in shares of Broadcom by 8.7% during the 2nd 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 during the last quarter. Bank of America Corp DE raised its holdings in shares of Broadcom by 4.6% during 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 lifted 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 worth $19,484,611,000 after buying an additional 1,892,721 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Broadcom by 2.9% in the second 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 worth $15,178,195,000 after buying an additional 1,140,598 shares in the last quarter. Finally, Legal & General Group Plc purchased a new stake in Broadcom in the second quarter worth approximately $11,998,148,000. 76.43% of the stock is currently owned by institutional investors.

Broadcom Stock Performance

Shares of AVGO stock opened at $360.14 on Friday. The firm has a market capitalization of $1.72 trillion, a price-to-earnings ratio of 45.99 and a beta of 1.46. The stock has a fifty day moving average of $371.79 and a 200 day moving average of $382.52. Broadcom Inc. has a 52 week low of $289.96 and a 52 week high of $495.00. The company has a quick ratio of 2.29, a current ratio of 2.50 and a debt-to-equity ratio of 0.57.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share for the quarter, beating 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 firm had revenue of $29.59 billion for the quarter, compared to analyst estimates of $29.24 billion. During the same quarter in the previous year, the firm posted $1.69 EPS. The company's revenue for the quarter was up 85.5% compared to the same quarter last year. As a group, research analysts expect that Broadcom Inc. will post 10.37 earnings per share for the current year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Monday, September 21st were paid a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Monday, September 21st. Broadcom's dividend payout ratio is presently 33.21%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AVGO. BMO Capital Markets boosted their price objective on shares of Broadcom from $455.00 to $575.00 and gave the stock an "outperform" rating in a report on Thursday, September 3rd. DA Davidson set a $350.00 target price on shares of Broadcom and gave the stock a "neutral" rating in a research report on Friday, September 4th. Cantor Fitzgerald boosted their price target on shares of Broadcom from $525.00 to $600.00 and gave the stock an "overweight" rating in a research note on Thursday, September 3rd. The Goldman Sachs Group boosted their price target 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. Finally, UBS Group cut Broadcom from a "buy" rating to a "hold" rating in a research note on Thursday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, thirty-seven have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus 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: Broadcom is reportedly arranging more than $50 billion in financing for custom AI chips being developed with OpenAI. The project could substantially expand Broadcom’s AI-chip opportunity and validate demand from one of the industry’s largest customers. Apollo Global Management and Blackstone are among the potential lenders, although discussions remain preliminary. Broadcom seeks more than $50 billion to finance OpenAI AI chips
• Positive Sentiment: At the 2026 OCP Global Summit, Broadcom highlighted networking products designed to support scale-up and scale-out AI clusters. Stronger Ethernet networking demand could complement its custom accelerators and switching businesses as hyperscalers expand AI infrastructure. Broadcom Redefines AI Infrastructure with Industry-Leading Networking Innovations
• Positive Sentiment: Analysts and financial commentators continue to point to rapid growth in Broadcom’s custom AI-chip and networking businesses. The company’s technology was also included in Arista Networks’ new open Ethernet rack initiative, reinforcing Broadcom’s role in the broader AI infrastructure ecosystem. Broadcom CEO Holds $350B Outlook Strong
• Neutral Sentiment: Heavy trading in Broadcom call options and bullish technical commentary indicate that some traders expect a rebound, but these signals reflect positioning rather than changes to the company’s fundamentals. Stock Traders Buy High Volume of Broadcom Call Options
• Negative Sentiment: The proposed financing raises concerns about leverage, repayment risk and whether AI chips could become obsolete before long-term debt matures. The financing is not finalized, and its size and terms could change, creating uncertainty for investors. SpaceX, Broadcom and Oracle All Want Billions in AI Chip Debt
• Negative Sentiment: Broadcom’s valuation remains demanding at roughly 46 times earnings, leaving the stock vulnerable to profit-taking if investors question the pace of AI spending or the company’s ability to convert projected growth into cash flow.

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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