Broadcom Inc. $AVGO Shares Sold by Bokf Na

Key Points

• Bokf Na reduced its Broadcom stake by 3.3% in the third quarter, selling 7,381 shares and retaining 213,418 shares valued at approximately $75 million. Institutional investors collectively own 76.43% of Broadcom.
• Broadcom’s AI growth outlook remains strong, supported by potential demand from Anthropic and Meta; the company projects AI semiconductor revenue of about $115 billion in fiscal 2027 and $230 billion in fiscal 2028.
• Despite favorable analyst sentiment and a “Moderate Buy” consensus, Broadcom trades below its recent high and key moving averages, while investors remain concerned about its demanding valuation, AI infrastructure costs, and execution risks tied to the Anthropic deal.

Bokf Na cut its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 213,418 shares of the semiconductor manufacturer's stock after selling 7,381 shares during the period. Broadcom comprises about 1.1% of Bokf Na's portfolio, making the stock its 15th largest position. Bokf Na's holdings in Broadcom were worth $74,950,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Cornerstone Advisors LLC purchased a new position in shares of Broadcom during the second quarter valued at about $92,522,000. GAMMA Investing LLC raised its stake in shares of Broadcom by 8.8% in the 3rd quarter. GAMMA Investing LLC now owns 164,015 shares of the semiconductor manufacturer's stock valued at $55,889,000 after purchasing an additional 13,317 shares in the last quarter. ANB Bank bought a new stake in shares of Broadcom during the 3rd quarter worth $1,181,000. Bank of America Corp DE lifted its stake in shares of Broadcom by 1.5% in the 1st quarter. Bank of America Corp DE now owns 58,737,097 shares of the semiconductor manufacturer's stock valued at $18,179,719,000 after purchasing an additional 894,564 shares during the last quarter. Finally, Clear Harbor Asset Management LLC acquired a new stake in shares of Broadcom in the 2nd quarter valued at $3,302,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: DA Davidson upgraded Broadcom to Buy from Neutral and raised its price target to $400 from $350. The firm cited Broadcom’s exposure to major AI customers, including Anthropic and potentially OpenAI. Broadcom Falls Despite DA Davidson Upgrade
• Positive Sentiment: A $63 billion financing arrangement is expected to fund purchases of Broadcom AI hardware for Anthropic. The deal provides a potentially large, funded customer for Broadcom’s custom-chip and networking business, although the company could face substantial obligations under the agreement’s backstop. Broadcom’s $63 Billion Anthropic Deal
• Positive Sentiment: Longer-term investment theses remain favorable: Broadcom projects AI semiconductor revenue of approximately $115 billion in fiscal 2027 and $230 billion in fiscal 2028. Meta’s planned financing for its AI expansion could also support additional demand for Broadcom’s custom silicon and networking products. Meta Financing Plan and Broadcom
• Neutral Sentiment: Broadcom is trading well below its record high and below its 50-day and 200-day moving averages. Analysts see upside, but valuation remains demanding, making execution of the AI growth forecast particularly important.
• Negative Sentiment: Intel’s weaker-than-expected forecast prompted investors to reassess semiconductor demand. Concerns were reinforced by Amazon’s results and the rising cost of building AI infrastructure, pressuring AI-exposed chip stocks broadly. Why Intel, AMD and Broadcom Are Falling
• Negative Sentiment: The Anthropic transaction also carries execution and financial-risk questions. Investors are waiting to see whether Broadcom can manufacture and deliver the required hardware at scale before fully crediting the projected revenue. Broadcom’s Anthropic Deal and Execution Risk

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $326.08 on Monday. Broadcom Inc. has a 12 month low of $289.96 and a 12 month high of $495.00. The company has a 50-day moving average price of $352.81 and a 200 day moving average price of $366.96. 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 market cap of $1.56 trillion, a price-to-earnings ratio of 41.65 and a beta of 1.49.

Broadcom (NASDAQ:AVGO - Get Free Report) last released 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 for 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 prior year, the business posted $1.69 EPS. As a group, equities research analysts predict that Broadcom Inc. will post 10.37 earnings per share for the current year.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Monday, September 21st were paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Monday, September 21st. Broadcom's payout ratio is 33.21%.

Analyst Upgrades and Downgrades

Several research firms recently commented on AVGO. The Goldman Sachs Group upped their price target on shares of Broadcom from $525.00 to $540.00 and gave the company a "buy" rating in a research note on Thursday, September 3rd. Fox Advisors raised shares of Broadcom to an "outperform" rating in a research note on Thursday, September 3rd. Weiss Ratings upgraded shares of Broadcom from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, October 8th. Erste Group Bank downgraded Broadcom from a "buy" rating to a "hold" rating in a research note on Tuesday, July 7th. Finally, William Blair cut shares of Broadcom from an "outperform" rating to a "market perform" rating in a research report on Tuesday, October 27th. One analyst has rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $530.52.

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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