Broadcom Inc. $AVGO Shares Acquired by Brown Shipley& Co Ltd

Key Points

• Brown Shipley & Co. increased its Broadcom stake by 41% in the third quarter to 15,611 shares valued at approximately $5.48 million, making Broadcom its 12th-largest holding. Institutional investors and hedge funds collectively own 76.43% of the stock.
• Broadcom reported quarterly earnings and revenue above analyst expectations, with revenue rising 85.5% year over year to $29.59 billion. The company also pays a quarterly dividend of $0.65 per share, equivalent to a 0.7% yield.
• Analyst sentiment remains bullish, with a consensus “Moderate Buy” rating and a $527.20 price target. Investors are focused on Broadcom’s AI opportunity, including potential custom-chip work with OpenAI and new networking technology for hyperscale data centers.

Brown Shipley& Co Ltd lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 41.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,611 shares of the semiconductor manufacturer's stock after purchasing an additional 4,543 shares during the quarter. Broadcom comprises approximately 2.7% of Brown Shipley& Co Ltd's portfolio, making the stock its 12th biggest position. Brown Shipley& Co Ltd's holdings in Broadcom were worth $5,482,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Lawood & Co. increased its stake in Broadcom by 1.3% in the 3rd quarter. Lawood & Co. now owns 5,152 shares of the semiconductor manufacturer's stock valued at $1,809,000 after buying an additional 68 shares during the period. Douglas Lane & Associates LLC increased its stake in shares of Broadcom by 47.4% during the third quarter. Douglas Lane & Associates LLC now owns 5,768 shares of the semiconductor manufacturer's stock worth $2,026,000 after acquiring an additional 1,856 shares during the period. Dakota Community Bank & Trust NA increased its stake in shares of Broadcom by 14.2% during the third quarter. Dakota Community Bank & Trust NA now owns 2,807 shares of the semiconductor manufacturer's stock worth $986,000 after acquiring an additional 348 shares during the period. Aventus Investment Advisors Inc. raised its holdings in Broadcom by 4.9% during the third quarter. Aventus Investment Advisors Inc. now owns 4,464 shares of the semiconductor manufacturer's stock worth $1,568,000 after purchasing an additional 208 shares in the last quarter. Finally, McNaughton Wealth Management LLC raised its holdings in Broadcom by 2.5% during the third quarter. McNaughton Wealth Management LLC now owns 5,187 shares of the semiconductor manufacturer's stock worth $1,822,000 after purchasing an additional 125 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom News Summary

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. Although discussions are preliminary, the potential project underscores the scale of expected demand for Broadcom’s custom silicon and could support substantial future revenue. Broadcom seeks more than $50 billion to finance OpenAI AI chips
• Positive Sentiment: At the OCP Global Summit, Broadcom highlighted new networking technologies designed to help hyperscalers scale AI clusters. The announcements reinforce its positioning in high-speed networking and custom AI infrastructure. Broadcom AI networking innovations
• Positive Sentiment: Record profits at Samsung and TSMC are being viewed as evidence that semiconductor demand and AI-related capital spending remain strong, a favorable backdrop for Broadcom’s chip and networking businesses. Record profits at Samsung and TSMC
• Positive Sentiment: Analysts and commentators continue to point to Broadcom’s rapid AI revenue growth and its roughly 24% decline from its 52-week high as a potential entry point, despite expectations for strong earnings growth. Broadcom is lagging the market

Broadcom Stock Performance

NASDAQ:AVGO opened at $361.54 on Friday. The firm has a 50 day simple moving average of $371.24 and a 200-day simple moving average of $382.38. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.29. The firm has a market cap of $1.73 trillion, a PE ratio of 46.17 and a beta of 1.46. Broadcom Inc. has a 1-year low of $289.96 and a 1-year high of $495.00.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 EPS for the quarter, beating analysts' consensus estimates of $3.22 by $0.10. The business 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 business's revenue for the quarter was up 85.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.69 earnings per share. On average, equities analysts expect that Broadcom Inc. will post 10.37 EPS for the current year.

Broadcom Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AVGO. Bank of America reduced their price objective on shares of Broadcom from $530.00 to $460.00 and set a "buy" rating for the company in a research report on Thursday, September 3rd. Cantor Fitzgerald upped their price objective on Broadcom from $525.00 to $600.00 and gave the stock an "overweight" rating in a report on Thursday, September 3rd. Raymond James Financial reiterated an "outperform" rating and issued a $475.00 price objective (up from $450.00) on shares of Broadcom in a research report on Thursday, September 3rd. The Goldman Sachs Group raised their target price on Broadcom from $525.00 to $540.00 and gave the company a "buy" rating in a report on Thursday, September 3rd. Finally, Rosenblatt Securities initiated coverage on shares of Broadcom in a research report on Thursday, September 3rd. They set a "buy" rating and a $600.00 target price on the stock. 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, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $527.20.

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 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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