Broadcom Inc. $AVGO Stock: E. Ohman J or Asset Management AB Decreases Holdings

Key Points

• E. Ohman Jor Asset Management AB reduced its Broadcom stake by 11.2% in the third quarter, selling 56,226 shares and retaining 446,562 shares valued at approximately $156.8 million.
• Broadcom reported strong quarterly results, with earnings of $3.32 per share and revenue of $29.59 billion, while revenue increased 85.5% year over year.
• Despite recent institutional selling and shares trading near $321.68, analysts maintain a “Moderate Buy” consensus, with an average price target of $529.17; risks include Alphabet diversifying its AI-chip suppliers and broader pressure on AI stocks.

E. Ohman J or Asset Management AB lowered its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 11.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 446,562 shares of the semiconductor manufacturer's stock after selling 56,226 shares during the quarter. Broadcom comprises about 3.5% of E. Ohman J or Asset Management AB's holdings, making the stock its 6th largest position. E. Ohman J or Asset Management AB's holdings in Broadcom were worth $156,828,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in AVGO. Legal & General Group Plc purchased a new position in shares of Broadcom in the 2nd quarter valued at approximately $11,998,148,000. Bank of New York Mellon Corp acquired a new position in shares of Broadcom in the second quarter valued at approximately $10,528,191,000. Jupiter Topco LLC purchased a new stake in shares of Broadcom during the second quarter worth approximately $7,396,271,000. State Street Corp raised its stake in shares of 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 stake in shares of Broadcom during the second quarter worth approximately $5,661,216,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Price Performance

Broadcom stock opened at $321.68 on Monday. The firm has a fifty day moving average of $356.05 and a 200-day moving average of $384.74. Broadcom Inc. has a 52-week low of $289.96 and a 52-week high of $495.00. 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 market capitalization of $1.54 trillion, a P/E ratio of 41.08 and a beta of 1.46.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share for the quarter, topping the consensus estimate of $3.22 by $0.10. The company had revenue of $29.59 billion during 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 company's revenue was up 85.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.69 earnings per share. As a group, analysts predict that Broadcom Inc. will post 10.37 EPS for the current year.

Broadcom Dividend Announcement

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

Analyst Ratings Changes

A number of research firms recently weighed in on AVGO. Weiss Ratings upgraded shares of Broadcom from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, October 8th. BNP Paribas Exane boosted their price objective on shares of Broadcom from $675.00 to $715.00 and gave the company an "outperform" rating in a research note on Friday, September 4th. Wall Street Zen downgraded shares of Broadcom from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 18th. Jefferies Financial Group initiated coverage on shares of Broadcom in a research note on Thursday, September 3rd. They issued a "buy" rating and a $550.00 target price for the company. Finally, Fox Advisors upgraded shares of Broadcom to an "outperform" rating in a research note on Thursday, September 3rd. One analyst has rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Broadcom presently has an average rating of "Moderate Buy" and a consensus target price of $529.17.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: ETF investors bought approximately $89.8 million of Broadcom shares on October 21, signaling continued institutional demand. Broadcom Sees $89.8 Million in Net ETF Buying
• Positive Sentiment: Analysts continue to highlight Broadcom’s leadership in custom AI accelerators. Demand from major AI labs and hyperscalers, including Anthropic, OpenAI and Meta, supports management’s ambitious long-term AI semiconductor growth outlook. 3 Magnificent AI Chip Stocks
• Positive Sentiment: Tigress Financial initiated coverage with a Buy rating and a $600 price target, implying substantial upside from recent trading levels. Tigress Financial Broadcom Coverage
• Positive Sentiment: Broadcom launched Arcot Scam Defense, a real-time fraud-detection feature for digital payments. Strong initial pilot results could create incremental growth for its software and security businesses. Broadcom Debuts Arcot Scam Defense
• Neutral Sentiment: Broadcom remains the leading custom-chip design partner, but Alphabet is diversifying its TPU suppliers. Although Broadcom may lose market share, the overall AI accelerator market is expected to expand rapidly, potentially offsetting that loss. Broadcom AI Chip Business Risks
• Negative Sentiment: Investors are worried that customer-owned chip design and increased competition from MediaTek could reduce Broadcom’s role and margins in future AI programs. Alphabet’s supplier diversification is the clearest near-term risk. Broadcom AI Chip Business Risks
• Negative Sentiment: The broader market sell-off is weighing on AI stocks amid higher oil prices, inflation concerns and questions about whether massive data-center investments will generate sufficient returns. Technical commentary identifies the $320 area as an important support test. Broadcom Faces Critical $320 Test

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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