Broadcom Inc. $AVGO Shares Bought by Mountain Hill Investment Partners Corp.

Key Points

• Mountain Hill Investment Partners increased its Broadcom stake by 312.4% in the third quarter, ending with 35,156 shares valued at approximately $12.35 million. Broadcom now represents about 6.8% of the firm’s portfolio.
• Institutional investors own 76.43% of Broadcom’s shares, with State Street, Bank of America, Wellington Management and UBS among the largest holders increasing their positions.
• Analysts maintain a generally bullish view, with Broadcom receiving a “Moderate Buy” consensus rating and an average price target of $530.52. The company also exceeded quarterly earnings and revenue estimates, while paying a quarterly dividend of $0.65 per share.

Mountain Hill Investment Partners Corp. increased its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 312.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,156 shares of the semiconductor manufacturer's stock after acquiring an additional 26,631 shares during the period. Broadcom makes up approximately 6.8% of Mountain Hill Investment Partners Corp.'s investment portfolio, making the stock its 4th biggest position. Mountain Hill Investment Partners Corp.'s holdings in Broadcom were worth $12,346,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp lifted its position in Broadcom by 8.7% in the second quarter. State Street Corp now owns 208,031,610 shares of the semiconductor manufacturer's stock worth $75,367,711,000 after purchasing an additional 16,651,378 shares during the period. Bank of America Corp DE boosted its stake in 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 purchasing an additional 2,685,916 shares in the last quarter. Wellington Management Group LLP boosted its stake in Broadcom by 3.8% during the 2nd quarter. Wellington Management Group LLP now owns 51,580,703 shares of the semiconductor manufacturer's stock valued at $19,484,611,000 after purchasing an additional 1,892,721 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Broadcom by 2.9% during the 2nd 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 valued at $15,178,195,000 after purchasing an additional 1,140,598 shares in the last quarter. Finally, Legal & General Group Plc acquired a new position in shares of Broadcom during the 2nd quarter valued at $11,998,148,000. 76.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AVGO. Rosenblatt Securities reissued a "buy" rating and issued a $600.00 price objective on shares of Broadcom in a research note on Tuesday. TD Cowen restated a "buy" rating and issued a $475.00 price objective (down from $500.00) on shares of Broadcom in a report on Thursday, September 3rd. Truist Financial decreased their target price on Broadcom from $550.00 to $520.00 and set a "buy" rating for the company in a research note on Thursday, September 3rd. JPMorgan Chase & Co. reaffirmed a "buy" rating on shares of Broadcom in a report on Thursday, September 3rd. Finally, KeyCorp reaffirmed an "overweight" rating and set a $575.00 target price on shares of Broadcom in a report on Thursday, September 3rd. One analyst has rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $530.52.

Broadcom Stock Up 2.8%

AVGO stock opened at $351.81 on Thursday. The firm has a market cap of $1.68 trillion, a PE ratio of 44.93 and a beta of 1.46. Broadcom Inc. has a 12 month low of $289.96 and a 12 month high of $495.00. 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 50 day simple moving average of $353.92 and a 200 day simple moving average of $367.09.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings results 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. The firm had revenue of $29.59 billion for the quarter, compared to analyst estimates of $29.24 billion. Broadcom had a net margin of 42.94% and a return on equity of 48.33%. The firm's quarterly revenue was up 85.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.69 earnings per share. Equities research analysts forecast that Broadcom Inc. will post 10.37 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

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

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: D.A. Davidson upgraded Broadcom to Buy from Neutral and raised its price target from $350 to $400. The firm cited continued AI spending and potential public offerings by major AI developers, improving sentiment toward Broadcom’s custom-chip and networking outlook. D.A. Davidson upgrades Broadcom to buy from neutral
• Positive Sentiment: A $63 billion financing structure for Anthropic’s AI infrastructure is the main business catalyst. Banks and Blackstone reportedly committed financing for a special-purpose vehicle to purchase and lease Broadcom accelerators and networking equipment. Truist estimates the arrangement could generate as much as $30 billion in revenue, while the deal signals strong demand for Broadcom’s AI systems. Broadcom Anthropic financing structure
• Positive Sentiment: Credit-quality support also improved. Fitch affirmed Broadcom’s A- rating with a positive outlook, citing strong cash generation and operating momentum. Rosenblatt separately reaffirmed a Buy rating with a $600 target, underscoring the bullish view of long-term AI demand. Fitch affirms Broadcom rating
• Neutral Sentiment: Broadcom may participate in a potential investment in Meta, alongside other chip suppliers. The move could deepen customer ties and provide exposure to Meta’s AI expansion, but investing in a major customer also raises concerns about circular financing and customer concentration. Chip suppliers may invest in Meta
• Negative Sentiment: The Anthropic arrangement introduces meaningful risk. Banks reportedly considered withdrawing, and Broadcom’s potentially large AI-rack lease backstop could create off-balance-sheet obligations. Analysts also cite rising AI-related margin pressure, supply constraints, dependence on a concentrated customer base and competition from Credo. Higher interest rates could further pressure the valuation of high-growth technology shares.

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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