Broadcom Inc. $AVGO Stock: Cardinal Capital Management Inc. Grows Holdings

Key Points

• Cardinal Capital Management increased its Broadcom holdings by 23.9% in the third quarter, adding 21,067 shares for a total of 109,353 shares valued at approximately $38.4 million.
• Institutional investors and hedge funds own 76.43% of Broadcom’s stock, with State Street holding more than 208 million shares valued at roughly $75.4 billion.
• Broadcom exceeded quarterly earnings and revenue expectations, reporting $3.32 in EPS and $29.59 billion in revenue. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $527.20, while the company pays a $0.65 quarterly dividend.

Cardinal Capital Management Inc. raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 23.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 109,353 shares of the semiconductor manufacturer's stock after purchasing an additional 21,067 shares during the period. Cardinal Capital Management Inc.'s holdings in Broadcom were worth $38,404,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Legal & General Group Plc bought a new position in Broadcom in the second quarter valued at approximately $11,998,148,000. Bank of New York Mellon Corp acquired a new stake in Broadcom during the 2nd quarter worth $10,528,191,000. Jupiter Topco LLC acquired a new stake in Broadcom during the 2nd quarter worth $7,396,271,000. State Street Corp grew its holdings in Broadcom by 8.7% during the 2nd quarter. State Street Corp now owns 208,031,610 shares of the semiconductor manufacturer's stock worth $75,367,711,000 after acquiring an additional 16,651,378 shares during the period. Finally, Deutsche Bank AG bought a new stake in shares of Broadcom during the 2nd quarter valued at $5,661,216,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Price Performance

Shares of AVGO stock opened at $328.75 on Monday. Broadcom Inc. has a 12-month low of $289.96 and a 12-month high of $495.00. The firm has a market capitalization of $1.57 trillion, a price-to-earnings ratio of 41.99 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. The firm has a fifty day moving average of $364.33 and a 200-day moving average of $384.14.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 EPS for the quarter, topping the consensus estimate 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 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 EPS. On average, equities research analysts forecast that Broadcom Inc. will post 10.37 earnings per share for the current year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st were issued 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 dividend payout ratio is 33.21%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. HSBC cut their price target on Broadcom from $600.00 to $560.00 and set a "buy" rating on the stock in a research note on Thursday, September 3rd. The Goldman Sachs Group raised their price target on Broadcom from $525.00 to $540.00 and gave the stock a "buy" rating in a research report on Thursday, September 3rd. Sanford C. Bernstein reaffirmed a "buy" rating on shares of Broadcom in a research note on Monday, September 21st. Truist Financial decreased their price objective on Broadcom from $550.00 to $520.00 and set a "buy" rating for the company in a research note on Thursday, September 3rd. Finally, Royal Bank Of Canada initiated coverage on Broadcom in a report on Thursday, September 3rd. They issued an "outperform" rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, thirty-seven have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $527.20.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s long-term AI opportunity remains attractive because hyperscalers and companies including OpenAI, Anthropic, Alphabet and Meta are adopting custom-designed chips and high-speed networking as alternatives to Nvidia GPUs. Analysts and investors continue to view Broadcom’s combination of custom silicon, networking and infrastructure software as a potential long-term growth engine. Will Broadcom Rejoin the $2 Trillion Club in 2027?
• Positive Sentiment: Erste Group raised its FY2027 earnings forecast for Broadcom, while roughly $121.5 million of net ETF purchases on Oct. 14 indicate that some institutional investors continue to add exposure. Broadcom FY2027 Earnings Forecast Raised by Erste Group Bank
• Neutral Sentiment: Broadcom’s reported plan to arrange $60 billion in financing connected to Anthropic could expand its AI relationship and customer opportunity, but it also increases the financial stakes and execution risk of the company’s AI strategy. Broadcom’s Anthropic Bet Gets Bigger
• Neutral Sentiment: Broadcom and CoreWeave rejected tokenized shares offered through the OKX/ICE venue, limiting a potential new trading channel but signaling caution around digital representations of public-company stock. CoreWeave, Broadcom Reject Tokenized Shares
• Negative Sentiment: CEO Hock Tan warned that rising financing costs and speculative, “casino-like” AI investing could slow expansion. His comments raise concerns that AI customers may reduce capital spending or struggle to turn heavy infrastructure investments into profits, weighing particularly on custom-AI-chip suppliers. Broadcom Falls as AI Capital Warning Weighs
• Negative Sentiment: Higher-than-expected inflation and expectations for higher interest rates are prompting investors to rotate away from expensive technology and AI stocks. A Gartner warning that many neocloud companies could fail or consolidate by 2030 has intensified fears of an AI infrastructure spending mismatch. MarketBeat Week in Review
• Negative Sentiment: Reports that Apple may cut iPhone 18 Pro component orders create an additional demand concern for suppliers, although Broadcom’s exposure and potential impact appear less direct than for some peers. Apple Cut iPhone 18 Orders

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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