Broadcom Inc. $AVGO Stock Acquired by Apollon Wealth Management LLC

Key Points

• Apollon Wealth Management increased its Broadcom stake by 1.4% in the third quarter, bringing its holdings to 298,435 shares valued at approximately $104.8 million. Institutional investors collectively own 76.43% of Broadcom.
• Analyst sentiment remains broadly positive, with 39 Buy ratings and an average price target of $530.52, although Citigroup downgraded the stock to Neutral and Bank of America lowered its target to $460.
• Broadcom’s AI semiconductor growth and custom-chip demand support the bullish outlook, but investors face risks from elevated valuation, rising rates, heavy data-center spending and potential credit exposure tied to its Anthropic financing arrangement.

Apollon Wealth Management LLC increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 298,435 shares of the semiconductor manufacturer's stock after buying an additional 4,042 shares during the period. Broadcom comprises about 1.2% of Apollon Wealth Management LLC's holdings, making the stock its 11th biggest position. Apollon Wealth Management LLC's holdings in Broadcom were worth $104,807,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Legal & General Group Plc purchased a new stake in shares of Broadcom during the 2nd quarter worth approximately $11,998,148,000. Bank of New York Mellon Corp bought a new stake in shares of Broadcom in the 2nd quarter worth approximately $10,528,191,000. Jupiter Topco LLC bought a new stake in shares of Broadcom in the 2nd quarter worth approximately $7,396,271,000. State Street Corp lifted its stake in Broadcom by 8.7% in the second quarter. State Street Corp now owns 208,031,610 shares of the semiconductor manufacturer's stock valued at $75,367,711,000 after purchasing an additional 16,651,378 shares during the last quarter. Finally, Deutsche Bank AG purchased a new position in Broadcom in the second quarter valued at approximately $5,661,216,000. Institutional investors own 76.43% of the company's stock.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Analysts remain constructive: DA Davidson upgraded Broadcom to “Buy,” while Rosenblatt reaffirmed its Buy rating. The upgrades cite the company’s AI semiconductor momentum and long-term growth outlook. DA Davidson Upgrades Broadcom to Buy
• Positive Sentiment: Broadcom’s custom-chip opportunity continues to expand. One bullish outlook points to projected AI semiconductor revenue of approximately $115 billion in fiscal 2027 and $230 billion in fiscal 2028, supported by rising data-center and accelerator demand. The AI Boom Isn’t Over: 3 Stocks You Need to Watch
• Positive Sentiment: Meta’s planned AI financing and potential investment by major chip suppliers could support additional orders for Broadcom as Meta expands its data-center capacity. Why Meta’s $100 Billion Financing Plan Is a Boon for Broadcom
• Neutral Sentiment: The stock’s pullback from its record high has prompted some investors to view Broadcom as a more attractive entry point, although valuation remains dependent on continued exceptional AI growth. Broadcom: This Is Probably a Good Entry Point
• Negative Sentiment: The $63 billion Anthropic financing arrangement is raising concern about asset and credit risk. A special-purpose vehicle would purchase and lease Broadcom hardware, while Broadcom’s potential backstop exposure could reach roughly $43 billion if financing or asset values deteriorate. Broadcom’s Anthropic Deal and Potential Backstop
• Negative Sentiment: Broader concerns about AI spending are also weighing on sentiment. Rising interest rates, heavy borrowing for data centers and doubts about returns on massive capital expenditures could compress richly valued semiconductor stocks. Why Rising Rates Could Break the Bull Market

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AVGO. Citigroup lowered Broadcom from a "buy" rating to a "neutral" rating in a research note on Tuesday. Tigress Financial initiated coverage on Broadcom in a research note on Thursday, October 22nd. They set a "buy" rating and a $600.00 price target for the company. Bank of America cut their price target on Broadcom from $530.00 to $460.00 and set a "buy" rating for the company in a research note on Thursday, September 3rd. HC Wainwright started coverage on Broadcom in a report on Tuesday. They issued a "buy" rating for the company. Finally, Arete Research boosted their price objective on Broadcom from $488.00 to $530.00 and gave the company a "buy" rating in a research note on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $530.52.

Broadcom Stock Down 1.9%

Shares of NASDAQ AVGO opened at $345.00 on Friday. The company has a quick ratio of 2.29, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. The company has a market cap of $1.65 trillion, a P/E ratio of 41.05 and a beta of 1.46. Broadcom Inc. has a 52 week low of $289.96 and a 52 week high of $495.00. The business has a 50-day simple moving average of $353.57 and a two-hundred day simple moving average of $367.09.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share for the quarter, beating the consensus estimate of $3.22 by $0.10. Broadcom had a return on equity of 48.33% and a net margin of 42.94%. The firm had revenue of $29.59 billion for the quarter, compared to analysts' expectations of $29.24 billion. During the same period in the prior year, the business posted $1.69 earnings per share. The company's revenue was up 85.5% on a year-over-year basis. Research analysts anticipate that Broadcom Inc. will post 10.37 earnings per share for the current fiscal year.

Broadcom Announces Dividend

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

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 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.