Broadcom Inc. $AVGO Stock: Elite Wealth Management Inc. Increases Stake

Key Points

• Elite Wealth Management increased its Broadcom stake by 41.7% in the third quarter, adding 14,655 shares to reach 49,815 shares valued at about $17.5 million.
• Other major institutions also reported sizable Broadcom holdings, and institutional investors collectively own 76.43% of the company’s shares.
• Broadcom beat its latest quarterly earnings and revenue estimates, with revenue up 85.5% year over year. Analysts maintain a “Moderate Buy” consensus rating and an average price target of $530.52.

Elite Wealth Management Inc. boosted its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 41.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,815 shares of the semiconductor manufacturer's stock after buying an additional 14,655 shares during the quarter. Broadcom makes up 3.4% of Elite Wealth Management Inc.'s holdings, making the stock its 6th biggest holding. Elite Wealth Management Inc.'s holdings in Broadcom were worth $17,495,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp lifted its holdings in shares of Broadcom by 8.7% in the second 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 last quarter. Bank of America Corp DE grew its holdings in shares of Broadcom by 4.6% during the 2nd quarter. Bank of America Corp DE now owns 61,423,013 shares of the semiconductor manufacturer's stock valued at $23,202,543,000 after purchasing an additional 2,685,916 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Broadcom by 3.8% during the 2nd quarter. Wellington Management Group LLP now owns 51,580,703 shares of the semiconductor manufacturer's stock valued at $19,484,611,000 after purchasing an additional 1,892,721 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Broadcom by 2.9% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 40,180,530 shares of the semiconductor manufacturer's stock valued at $15,178,195,000 after purchasing an additional 1,140,598 shares during the last quarter. Finally, Legal & General Group Plc acquired a new position in Broadcom during the 2nd quarter worth approximately $11,998,148,000. Institutional investors own 76.43% of the company's stock.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Anthropic’s S-1 filing reportedly shows surging revenue and $131.8 billion in cash, strengthening confidence in its ability to support a large commitment to Broadcom. Broadcom’s connection to a $26 billion Anthropic placement also underscores its role in the AI supply chain. Anthropic's S-1 Strengthens the Case for Broadcom's AI Growth
• Positive Sentiment: Google’s projected $135 billion chip spending could benefit Broadcom’s custom-chip business, as large technology companies look beyond GPUs to develop their own AI processors. The Real Winner of Google’s $135 Billion Chip Forecast: Broadcom
• Positive Sentiment: Analysts point to Broadcom’s history of earnings surprises and factors they believe could support another quarterly beat. The next results are scheduled for December 9, making the report a near-term test of AI demand and investor expectations. Will Broadcom Beat Estimates Again?
• Neutral Sentiment: Broadcom contributed its VM API project to the Cloud Native Computing Foundation’s Sandbox and is working on Kubernetes workload standards. This may strengthen VMware’s ecosystem and partner support, though the near-term financial impact is uncertain. Broadcom Contributes VM API Open Source Project to CNCF
• Negative Sentiment: Despite the rebound, investor concerns persist over margin pressure and a reported $63 billion financing structure. Broader worries about data-center investment, AI regulation and higher interest rates could also weigh on sentiment toward semiconductor stocks. Broadcom’s Margin and Financing Concerns

Analyst Upgrades and Downgrades

AVGO has been the subject of several research reports. Piper Sandler started coverage on shares of Broadcom in a research note on Wednesday, September 9th. They issued an "overweight" rating and a $460.00 price objective for the company. Oppenheimer started coverage on shares of Broadcom in a research note on Tuesday, October 27th. They set a "buy" rating on the stock. HSBC decreased their target price on shares of Broadcom from $600.00 to $560.00 and set a "buy" rating on the stock in a research note on Thursday, September 3rd. Bank of America lowered their price target on shares of Broadcom from $530.00 to $460.00 and set a "buy" rating for the company in a report on Thursday, September 3rd. Finally, Fox Advisors upgraded 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-nine have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $530.52.

Broadcom Stock Performance

Broadcom stock opened at $331.98 on Wednesday. The business has a 50 day moving average of $346.14 and a 200-day moving average of $366.16. Broadcom Inc. has a 1 year low of $289.77 and a 1 year high of $495.00. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.29. The company has a market capitalization of $1.58 trillion, a P/E ratio of 42.40 and a beta of 1.49.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share (EPS) for the quarter, beating 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 business had revenue of $29.59 billion during the quarter, compared to analyst estimates of $29.24 billion. During the same quarter last year, the business earned $1.69 EPS. The firm's quarterly revenue was up 85.5% on a year-over-year basis. On average, equities research analysts predict 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 given a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.8%. The ex-dividend date was Monday, September 21st. Broadcom's dividend payout ratio is 33.21%.

About Broadcom

Broadcom Inc. is a global technology company that designs and supplies semiconductor products and infrastructure software. Its semiconductor portfolio includes chips and components used in networking, broadband communications, wireless connectivity, data storage, and industrial applications. The company serves businesses across a range of industries, including communications, enterprise technology, and consumer electronics. Broadcom also provides infrastructure software, including products for virtualization, cloud computing, cybersecurity, and enterprise operations.

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