Broadcom Inc. $AVGO Shares Acquired by Vest Financial LLC

Key Points

• Vest Financial increased its Broadcom stake by 21.1% in the third quarter, acquiring 38,079 additional shares for a total holding worth approximately $76.7 million. Institutional investors collectively own 76.43% of AVGO shares.
• Broadcom reported quarterly EPS of $3.32, beating estimates of $3.22, while revenue rose 85.5% year over year to $29.59 billion. The company also maintains a quarterly dividend of $0.65 per share, or a 0.8% annualized yield.
• Analysts maintain a broadly positive outlook, with a “Moderate Buy” consensus and an average price target of $529.17 versus the reported share price of $321.68. However, supplier diversification by Alphabet, rising competition and broader concerns over AI spending remain risks.

Vest Financial LLC lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 21.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 218,440 shares of the semiconductor manufacturer's stock after acquiring an additional 38,079 shares during the period. Vest Financial LLC's holdings in Broadcom were worth $76,714,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Networth Advisors LLC lifted its stake in shares of Broadcom by 546.2% during the first quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer's stock valued at $26,000 after buying an additional 71 shares during the period. Core Capital Management & Research inc. purchased a new stake in Broadcom in the 2nd quarter worth approximately $31,000. Harborfront Financial Group LLC purchased a new stake in Broadcom in the 2nd quarter worth approximately $38,000. Align Financial LLC raised its holdings in Broadcom by 67.2% in the 3rd quarter. Align Financial LLC now owns 112 shares of the semiconductor manufacturer's stock valued at $38,000 after acquiring an additional 45 shares during the last quarter. Finally, IMG Wealth Management Inc. purchased a new position in shares of Broadcom during the 2nd quarter worth $64,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Broadcom Price Performance

AVGO opened at $321.68 on Friday. Broadcom Inc. has a twelve month low of $289.96 and a twelve month high of $495.00. The firm has a market cap of $1.54 trillion, a price-to-earnings ratio of 41.08 and a beta of 1.46. The company has a current ratio of 2.50, a quick ratio of 2.29 and a debt-to-equity ratio of 0.57. The company has a fifty day simple moving average of $356.05 and a 200 day simple moving average of $384.25.

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 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 company had revenue of $29.59 billion during the quarter, compared to analysts' expectations of $29.24 billion. During the same period in the prior year, the company posted $1.69 EPS. The firm's revenue for the quarter was up 85.5% on a year-over-year basis. Equities research analysts expect that Broadcom Inc. will post 10.37 EPS for the current fiscal year.

Broadcom Dividend Announcement

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

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: ETF investors bought approximately $89.8 million of Broadcom shares on October 21, signaling continued institutional demand. Broadcom Sees $89.8 Million in Net ETF Buying
• Positive Sentiment: Analysts continue to highlight Broadcom’s leadership in custom AI accelerators. Demand from major AI labs and hyperscalers, including Anthropic, OpenAI and Meta, supports management’s ambitious long-term AI semiconductor growth outlook. 3 Magnificent AI Chip Stocks
• Positive Sentiment: Tigress Financial initiated coverage with a Buy rating and a $600 price target, implying substantial upside from recent trading levels. Tigress Financial Broadcom Coverage
• Positive Sentiment: Broadcom launched Arcot Scam Defense, a real-time fraud-detection feature for digital payments. Strong initial pilot results could create incremental growth for its software and security businesses. Broadcom Debuts Arcot Scam Defense
• Neutral Sentiment: Broadcom remains the leading custom-chip design partner, but Alphabet is diversifying its TPU suppliers. Although Broadcom may lose market share, the overall AI accelerator market is expected to expand rapidly, potentially offsetting that loss. Broadcom AI Chip Business Risks
• Negative Sentiment: Investors are worried that customer-owned chip design and increased competition from MediaTek could reduce Broadcom’s role and margins in future AI programs. Alphabet’s supplier diversification is the clearest near-term risk. Broadcom AI Chip Business Risks
• Negative Sentiment: The broader market sell-off is weighing on AI stocks amid higher oil prices, inflation concerns and questions about whether massive data-center investments will generate sufficient returns. Technical commentary identifies the $320 area as an important support test. Broadcom Faces Critical $320 Test

Analyst Ratings Changes

Several equities analysts recently weighed in on AVGO shares. BNP Paribas Exane increased their target price on Broadcom from $675.00 to $715.00 and gave the stock an "outperform" rating in a research report on Friday, September 4th. KeyCorp reaffirmed an "overweight" rating and set a $575.00 price target on shares of Broadcom in a research note on Thursday, September 3rd. Lake Street Capital upgraded shares of Broadcom to a "buy" rating in a report on Thursday, September 3rd. Arete Research boosted their price objective on shares of Broadcom from $488.00 to $530.00 and gave the company a "buy" rating in a research note on Tuesday, July 21st. Finally, Rosenblatt Securities assumed coverage on Broadcom in a research report on Thursday, September 3rd. They set a "buy" rating and a $600.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Broadcom presently has an average rating of "Moderate Buy" and an average target price of $529.17.

Broadcom Profile

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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