Broadcom Inc. $AVGO Stock Bought by First Interstate Bank

Key Points

• First Interstate Bank increased its Broadcom stake by 21.8% in the third quarter, bringing its holdings to 12,507 shares valued at approximately $4.4 million. Institutional investors collectively own 76.43% of AVGO.
• Analysts maintain a broadly positive outlook, with 39 Buy ratings, one Strong Buy, and five Holds; the consensus rating is “Moderate Buy” with a $530.52 price target.
• Broadcom reported strong quarterly results, including $3.32 in EPS and $29.59 billion in revenue, up 85.5% year over year. However, investors remain attentive to the stock’s elevated valuation and risks tied to heavy AI-related spending and financing exposure.

First Interstate Bank lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 21.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,507 shares of the semiconductor manufacturer's stock after acquiring an additional 2,241 shares during the period. First Interstate Bank's holdings in Broadcom were worth $4,392,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AVGO. Kingswood Wealth Advisors LLC lifted its stake in shares of Broadcom by 2.0% during the 3rd quarter. Kingswood Wealth Advisors LLC now owns 80,385 shares of the semiconductor manufacturer's stock worth $28,230,000 after purchasing an additional 1,562 shares during the period. Paladin Wealth LLC grew its position in shares of Broadcom by 18.5% in the third quarter. Paladin Wealth LLC now owns 5,822 shares of the semiconductor manufacturer's stock valued at $2,045,000 after purchasing an additional 907 shares during the period. Broadway Wealth Solutions Inc. grew its position in shares of Broadcom by 4.5% in the third quarter. Broadway Wealth Solutions Inc. now owns 3,351 shares of the semiconductor manufacturer's stock valued at $1,177,000 after purchasing an additional 144 shares during the period. Beacon Capital Management LLC increased its stake in Broadcom by 3.3% in the third quarter. Beacon Capital Management LLC now owns 4,640 shares of the semiconductor manufacturer's stock valued at $1,630,000 after purchasing an additional 148 shares during the last quarter. Finally, Randolph Co Inc purchased a new position in Broadcom during the third quarter worth about $80,004,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on AVGO shares. Fox Advisors raised Broadcom to an "outperform" rating in a research note on Thursday, September 3rd. HSBC dropped their price objective on shares of Broadcom from $600.00 to $560.00 and set a "buy" rating for the company in a research note on Thursday, September 3rd. BMO Capital Markets increased their price objective on shares of Broadcom from $455.00 to $575.00 and gave the stock an "outperform" rating in a report on Thursday, September 3rd. Truist Financial cut their price objective on shares of Broadcom from $550.00 to $520.00 and set a "buy" rating on the stock in a report on Thursday, September 3rd. Finally, UBS Group cut shares of Broadcom from a "hold" rating to a "neutral" rating in a research report on Tuesday. 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $530.52.

Trending Headlines about Broadcom

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

Broadcom Stock Performance

NASDAQ AVGO opened at $345.00 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.29. Broadcom Inc. has a 1-year low of $289.96 and a 1-year high of $495.00. The firm has a market capitalization of $1.65 trillion, a P/E ratio of 44.06 and a beta of 1.46. The business's 50-day simple moving average is $353.57 and its 200-day simple moving average is $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, topping analysts' consensus estimates of $3.22 by $0.10. Broadcom had a net margin of 42.94% and a return on equity of 48.33%. The firm had revenue of $29.59 billion during the quarter, compared to analysts' expectations of $29.24 billion. During the same period in the prior year, the company earned $1.69 EPS. The firm's revenue was up 85.5% on a year-over-year basis. Equities analysts predict that Broadcom Inc. will post 10.37 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders 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 of this dividend was Monday, September 21st. Broadcom's dividend payout ratio is presently 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.

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