Broadcom Inc. $AVGO Shares Sold by Syntax Research Inc.

Key Points

• Syntax Research cut its Broadcom stake by 56.1% in the second quarter, selling 7,353 shares and retaining 5,760 shares valued at approximately $2.18 million.
• Institutional ownership remains substantial at 76.43%, with major investors including State Street, Geode Capital, T. Rowe Price, Norges Bank and Bank of America holding or increasing large positions.
• Analysts maintain a bullish outlook, giving Broadcom a consensus “Moderate Buy” rating and an average price target of $505.97. The company also beat quarterly earnings and revenue estimates and declared a quarterly dividend of $0.65 per share.

Syntax Research Inc. decreased its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 56.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,760 shares of the semiconductor manufacturer's stock after selling 7,353 shares during the quarter. Broadcom makes up 1.6% of Syntax Research Inc.'s holdings, making the stock its 16th biggest position. Syntax Research Inc.'s holdings in Broadcom were worth $2,176,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp lifted its stake in Broadcom by 2.7% in the 4th quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer's stock valued at $65,788,194,000 after buying an additional 5,040,801 shares in the last quarter. Geode Capital Management LLC increased its stake in Broadcom by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 111,277,280 shares of the semiconductor manufacturer's stock worth $38,396,634,000 after buying an additional 1,548,699 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Broadcom by 3.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 85,546,083 shares of the semiconductor manufacturer's stock worth $29,607,500,000 after buying an additional 2,491,644 shares in the last quarter. Norges Bank acquired a new position in shares of Broadcom during the fourth quarter valued at approximately $24,252,196,000. Finally, Bank of America Corp DE raised its holdings in shares of Broadcom by 4.6% during the second 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 acquiring an additional 2,685,916 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on AVGO shares. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $515.00 target price (up from $430.00) on shares of Broadcom in a research report on Thursday, June 4th. Mizuho increased their price objective on Broadcom from $480.00 to $530.00 and gave the company an "outperform" rating in a research note on Thursday, June 4th. Piper Sandler started coverage on Broadcom in a report on Wednesday. They issued an "overweight" rating and a $460.00 price objective on the stock. Cantor Fitzgerald lifted their target price on shares of Broadcom from $525.00 to $600.00 and gave the stock an "overweight" rating in a research note on Thursday, September 3rd. Finally, KeyCorp reaffirmed an "overweight" rating and set a $575.00 target price on shares of Broadcom in a research note on Thursday, September 3rd. One analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $505.97.

Broadcom Price Performance

NASDAQ:AVGO opened at $361.99 on Friday. Broadcom Inc. has a one year low of $289.96 and a one year high of $495.00. 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 stock has a market cap of $1.72 trillion, a PE ratio of 46.23 and a beta of 1.44. The stock has a 50 day moving average price of $383.03 and a 200 day moving average price of $378.32.

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, topping analysts' consensus estimates of $3.22 by $0.10. The firm 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 firm's revenue was up 85.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.69 earnings per share. Equities research analysts expect that Broadcom Inc. will post 10.36 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Monday, September 21st. Broadcom's payout ratio is currently 33.21%.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Analyst upgrade: Piper Sandler upgraded Broadcom to “strong buy,” reinforcing confidence in the company’s earnings growth and AI semiconductor outlook. Zacks Broadcom analyst upgrade
• Positive Sentiment: AI revenue expectations remain a major catalyst: Broadcom projects approximately $115 billion in AI semiconductor revenue for fiscal 2027 and $230 billion for fiscal 2028. Custom accelerators and networking products are benefiting from hyperscalers seeking lower-cost, workload-specific alternatives to Nvidia’s chips. Broadcom AI semiconductor revenue forecast
• Positive Sentiment: Strong customer demand: OpenAI, Anthropic, Alphabet and Meta are cited as buyers or potential buyers of Broadcom-designed accelerators, supporting the view that the company can gain share as AI infrastructure becomes more diversified. Broadcom custom AI accelerator demand
• Positive Sentiment: Recent execution was solid: Broadcom exceeded quarterly earnings and revenue estimates, while revenue rose sharply year over year. Analysts continue to argue that improving profits could eventually support a significantly higher valuation. Broadcom earnings and analyst coverage
• Neutral Sentiment: Market and valuation backdrop: Rising Treasury yields and a high earnings multiple are encouraging investors to scrutinize expensive AI stocks, even when long-term demand remains strong. Broadcom’s ability to deliver on its 2027–2028 forecasts will be critical.
• Negative Sentiment: Competitive uncertainty: Google’s internal chip efforts and OpenAI’s newly disclosed Samsung partnership have raised questions about whether some future custom-chip business could bypass Broadcom. The impact is unclear, but the developments may pressure near-term sentiment. Broadcom Google chip risks

Insider Transactions at Broadcom

In other news, insider Mark Brazeal sold 25,000 shares of the business's stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $401.33, for a total transaction of $10,033,250.00. Following the transaction, the insider owned 194,989 shares of the company's stock, valued at approximately $78,254,935.37. The trade was a 11.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gayla Delly sold 1,890 shares of the company's stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $385.38, for a total transaction of $728,368.20. Following the completion of the sale, the director directly owned 31,326 shares of the company's stock, valued at $12,072,413.88. This represents a 5.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 61,644 shares of company stock worth $24,016,214 in the last quarter. Company insiders own 1.90% of the company's stock.

About Broadcom

Broadcom Inc NASDAQ: AVGO designs, develops and supplies semiconductor and infrastructure software products for businesses, telecommunications providers and other organizations worldwide. Its semiconductor portfolio includes networking and connectivity components, custom application-specific integrated circuits, broadband and wireless communications products, storage adapters, optical components, and industrial solutions.

The company also provides enterprise infrastructure software through businesses including VMware, which offers virtualization and private- and hybrid-cloud solutions; mainframe and enterprise software; and cybersecurity products.

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