Broadcom Inc. $AVGO Shares Acquired by Boomfish Wealth Group LLC

Key Points

• Boomfish Wealth Group increased its Broadcom stake by 15.8% in the third quarter to 13,285 shares valued at approximately $4.7 million. Institutional investors collectively own 76.43% of Broadcom’s outstanding stock.
• Broadcom exceeded quarterly earnings and revenue expectations, reporting $3.32 in EPS and $29.59 billion in revenue, up 85.5% year over year. The company also pays a quarterly dividend of $0.65 per share, for an annualized yield of about 0.8%.
• Analysts maintain a broadly bullish outlook, with a consensus “Moderate Buy” rating and an average price target of $529.17, although risks include Alphabet diversifying TPU suppliers and potential tightening of AI infrastructure financing.

Boomfish Wealth Group LLC increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 15.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,285 shares of the semiconductor manufacturer's stock after purchasing an additional 1,817 shares during the quarter. Broadcom makes up approximately 2.0% of Boomfish Wealth Group LLC's portfolio, making the stock its 15th biggest position. Boomfish Wealth Group LLC's holdings in Broadcom were worth $4,665,000 as of its most recent SEC filing.

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

Broadcom Stock Up 2.3%

Shares of NASDAQ:AVGO opened at $329.17 on Tuesday. The company has a 50 day moving average price of $356.76 and a two-hundred day moving average price of $367.07. 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 company has a market capitalization of $1.57 trillion, a PE ratio of 37.54 and a beta of 1.46. 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 announced its quarterly 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. Broadcom had a net margin of 42.94% and a return on equity of 48.33%. The company had revenue of $29.59 billion for the quarter, compared to analysts' expectations of $29.24 billion. During the same period last year, the firm posted $1.69 earnings per share. The business's quarterly revenue was up 85.5% compared to the same quarter last year. Analysts forecast that Broadcom Inc. will post 10.37 earnings per share for the current year.

Broadcom Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have commented on AVGO. Evercore set a $578.00 target price on shares of Broadcom and gave the company an "outperform" rating in a research report on Thursday, September 3rd. Citic Securities upgraded Broadcom to a "buy" rating and raised their price target for the stock from $450.00 to $525.00 in a research report on Tuesday, September 8th. UBS Group cut Broadcom from a "buy" rating to a "hold" rating in a research note on Thursday, September 3rd. President Capital upped their price objective on Broadcom from $520.00 to $546.00 and gave the company a "buy" rating in a report on Thursday, September 3rd. Finally, Sanford C. Bernstein reiterated a "buy" rating on shares of Broadcom in a report on Monday, September 21st. One research analyst has rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $529.17.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: A coalition of banks and Blackstone is reportedly arranging a $63 billion financing vehicle to purchase AI-computing infrastructure from Broadcom and lease it to Anthropic. The proposed transaction would provide a potentially significant source of demand and revenue visibility. Banks, Blackstone Form $63 Billion Financing Vehicle for Broadcom AI Tech
• Positive Sentiment: Anthropic’s IPO filing disclosed approximately $224.5 billion of non-cancelable compute commitments with Amazon and Alphabet. The scale of those commitments supports continued spending on custom AI accelerators and networking equipment supplied or co-designed by Broadcom. Anthropic's IPO Filing Reveals a Massive Opportunity for AI Infrastructure Giants
• Positive Sentiment: Reports highlight unusually heavy call-option activity and argue that Broadcom’s custom AI chips are gaining popularity among major AI companies. Bullish commentary also points to strong projected growth in custom silicon and networking through 2030. Huge, unusual call option activity in Broadcom shows investors bullish on AVGO stock
• Neutral Sentiment: Broadcom’s stock is being described as potentially attractive after reaching a six-month low, although investors remain focused on whether future AI growth is already reflected in its premium valuation. Broadcom Is At a 6-Month Low - Is AVGO Stock Too Cheap?
• Negative Sentiment: Alphabet is reportedly diversifying its TPU suppliers to include MediaTek, raising concerns that Broadcom could lose some custom-chip business. Growing demand from Anthropic and OpenAI may offset that risk, but supplier diversification remains an important competitive threat. Broadcom's AI Chip Business Is Booming, But Alphabet's Strategy Highlights 2 Key Risks
• Negative Sentiment: Concerns that debt-market funding for AI data centers is tightening could slow infrastructure construction and customer spending. Separately, Erste Group Bank cut its earnings estimates for Broadcom, adding near-term pressure to expectations.

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 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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