Broadcom Inc. $AVGO Stock: Bernardo Wealth Planning LLC Increases Stake

Key Points

• Bernardo Wealth Planning LLC increased its Broadcom stake by 124.8% in the third quarter, bringing its holdings to 7,022 shares valued at approximately $2.47 million. Institutional investors collectively own 76.43% of Broadcom.
• Broadcom reported quarterly earnings of $3.32 per share on $29.59 billion in revenue, exceeding analyst expectations, while revenue rose 85.5% year over year. The company also maintains a quarterly dividend of $0.65 per share.
• Analysts remain broadly optimistic, with a consensus “Moderate Buy” rating and an average price target of $530.52, despite Broadcom shares recently trading near $351.81.

Bernardo Wealth Planning LLC boosted its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 124.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,022 shares of the semiconductor manufacturer's stock after buying an additional 3,899 shares during the quarter. Bernardo Wealth Planning LLC's holdings in Broadcom were worth $2,466,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Legal & General Group Plc purchased a new stake in shares of Broadcom in the second quarter valued at about $11,998,148,000. Bank of New York Mellon Corp bought a new position in shares of Broadcom during the second quarter valued at about $10,528,191,000. Jupiter Topco LLC purchased a new position in Broadcom during the second quarter worth about $7,396,271,000. State Street Corp boosted its holdings in Broadcom by 8.7% during 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 last quarter. Finally, Deutsche Bank AG purchased a new position in Broadcom during the second quarter worth about $5,661,216,000. 76.43% of the stock is currently owned by institutional investors.

Broadcom Stock Performance

NASDAQ AVGO opened at $351.81 on Thursday. The company has a 50-day simple moving average of $353.92 and a two-hundred day simple moving average of $367.09. Broadcom Inc. has a 12-month low of $289.96 and a 12-month high of $495.00. The firm has a market cap of $1.68 trillion, a price-to-earnings ratio of 44.93 and a beta of 1.46. The company has a quick ratio of 2.29, a current ratio of 2.50 and a debt-to-equity ratio of 0.57.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results 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. The company had revenue of $29.59 billion during the quarter, compared to analyst estimates of $29.24 billion. Broadcom had a return on equity of 48.33% and a net margin of 42.94%. Broadcom's revenue for the quarter was up 85.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.69 EPS. On average, equities analysts forecast that Broadcom Inc. will post 10.37 EPS for the current year.

Broadcom Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms have recently commented on AVGO. Raymond James Financial reiterated an "outperform" rating and set a $475.00 target price (up from $450.00) on shares of Broadcom in a research note on Thursday, September 3rd. Weiss Ratings raised Broadcom from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, October 8th. Erste Group Bank lowered shares of Broadcom from a "buy" rating to a "hold" rating in a research report on Tuesday, July 7th. Tigress Financial assumed coverage on Broadcom in a research report on Thursday, October 22nd. They set a "buy" rating and a $600.00 target price for the company. Finally, President Capital lifted their target price on shares of Broadcom from $520.00 to $546.00 and gave the company a "buy" rating in a research report on Thursday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $530.52.

More Broadcom News

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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