Broadcom Inc. $AVGO Position Increased by Waycross Partners LLC

Key Points

• Waycross Partners increased its Broadcom stake by 24.4% in the third quarter, adding 29,905 shares to reach 152,644 shares valued at $53.6 million. Broadcom represented about 4.2% of the fund’s portfolio.
• Analysts’ consensus rating is “Moderate Buy,” with a consensus price target of $530.52; 39 analysts rated the stock Buy and five rated it Hold.
• Broadcom’s latest reported quarter beat estimates, with EPS of $3.32 versus $3.22 expected and revenue of $29.59 billion, up 85.5% year over year.

Waycross Partners LLC raised its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 24.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 152,644 shares of the semiconductor manufacturer's stock after acquiring an additional 29,905 shares during the quarter. Broadcom makes up about 4.2% of Waycross Partners LLC's investment portfolio, making the stock its 6th largest holding. Waycross Partners LLC's holdings in Broadcom were worth $53,607,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several brokerages have recently commented on AVGO. William Blair downgraded Broadcom from an "outperform" rating to a "market perform" rating in a research note on Tuesday, October 27th. KeyCorp restated an "overweight" rating and issued a $575.00 price target on shares of Broadcom in a research note on Thursday, September 3rd. Sanford C. Bernstein reaffirmed a "buy" rating on shares of Broadcom in a report on Monday, September 21st. BMO Capital Markets raised their price target on Broadcom from $455.00 to $575.00 and gave the company an "outperform" rating in a report on Thursday, September 3rd. Finally, Citic Securities raised shares of Broadcom to a "buy" rating and lifted their price objective for the stock from $450.00 to $525.00 in a research report on Tuesday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $530.52.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: A broader recovery in AI and chip shares helped lift Broadcom after concerns about data-center expansion and AI regulation contributed to the recent sell-off. Falling oil prices also supported the wider market. Why is Broadcom stock surging?
• Positive Sentiment: Coverage of Google’s large chip-spending forecast renewed focus on Broadcom’s role in custom AI chips. Broadcom is developing custom processors that could help Google and OpenAI meet AI-computing needs beyond reliance on GPUs. The Real Winner of Google’s Chip Forecast: Broadcom
• Positive Sentiment: Several investment articles argued that Broadcom’s AI and custom-chip prospects could support substantial upside, despite its recent share-price weakness. These are bullish opinions, not company guidance. Broadcom: Despite Two Fearful Narratives, Big Healthy Upside
• Neutral Sentiment: Broadcom said it will report fourth-quarter and fiscal 2026 results after the market closes on December 9. The date sets a potential upcoming catalyst but provides no new financial results. Broadcom earnings announcement
• Neutral Sentiment: Broadcom contributed its VM API project to the Cloud Native Computing Foundation Sandbox, an open-source ecosystem development that may support its software presence but is not an immediate earnings catalyst. Broadcom contributes VM API project to CNCF
• Negative Sentiment: Risks remain: articles cited margin pressure and a sizable financing structure as concerns, while debate over data-center permitting, policy and AI infrastructure debt could weigh on the chip trade. That makes the recent recovery vulnerable if investor concerns return. Broadcom analyst outlook and risks

Broadcom Stock Up 8.8%

Broadcom stock opened at $319.48 on Tuesday. The stock has a market cap of $1.53 trillion, a P/E ratio of 40.80 and a beta of 1.49. 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 Inc. has a twelve month low of $289.77 and a twelve month high of $495.00. The company's 50-day moving average price is $346.90 and its two-hundred day moving average price is $366.13.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share (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 during the quarter, compared to the consensus estimate of $29.24 billion. During the same period last year, the business posted $1.69 earnings per share. The business's revenue for the quarter was up 85.5% compared to the same quarter last year. As a group, analysts expect that Broadcom Inc. will post 10.37 EPS for the current year.

Broadcom Announces Dividend

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