Broadcom Inc. $AVGO Stock Holdings Boosted by Conning Inc.

Key Points

• Conning increased its Broadcom stake by 11.4% in the third quarter, bringing its holdings to 34,899 shares valued at approximately $12.3 million. Institutional investors collectively own 76.43% of the company.
• Analysts remain broadly optimistic, with Broadcom receiving a consensus “Moderate Buy” rating and an average price target of $530.52. Recent upgrades cited the company’s exposure to major AI customers and expected demand for custom chips and networking products.
• Broadcom reported quarterly revenue growth of 85.5% year over year and exceeded earnings expectations, but the stock trades below its moving averages and record high. Investors continue to weigh its ambitious AI growth forecasts against valuation, execution, and infrastructure-spending risks.

Conning Inc. increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 11.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 34,899 shares of the semiconductor manufacturer's stock after purchasing an additional 3,560 shares during the quarter. Conning Inc.'s holdings in Broadcom were worth $12,256,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Core Capital Management & Research inc. purchased a new stake in shares of Broadcom in the second quarter valued at $31,000. Harborfront Financial Group LLC purchased a new position in shares of Broadcom during the 2nd quarter worth about $38,000. Align Financial LLC boosted its stake in shares of Broadcom by 67.2% during the 3rd quarter. Align Financial LLC now owns 112 shares of the semiconductor manufacturer's stock worth $38,000 after purchasing an additional 45 shares during the period. Curry Webb Wealth Management LLC bought a new position in Broadcom during the 3rd quarter valued at about $41,000. Finally, IMG Wealth Management Inc. bought a new position in Broadcom during the 2nd quarter valued at about $64,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Analyst Ratings Changes

AVGO has been the subject of several analyst reports. Fox Advisors raised shares of Broadcom to an "outperform" rating in a research note on Thursday, September 3rd. Royal Bank Of Canada began coverage on Broadcom in a research note on Thursday, September 3rd. They set an "outperform" rating for the company. BMO Capital Markets raised their price target on Broadcom from $455.00 to $575.00 and gave the stock an "outperform" rating in a research note on Thursday, September 3rd. Wall Street Zen cut Broadcom from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 18th. Finally, KeyCorp reaffirmed an "overweight" rating and issued a $575.00 price objective on shares of Broadcom in a research report on Thursday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $530.52.

Broadcom Stock Performance

NASDAQ:AVGO opened at $326.08 on Monday. The firm has a 50-day simple moving average of $352.81 and a 200-day simple moving average of $366.96. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.29 and a current ratio of 2.50. The firm has a market cap of $1.56 trillion, a P/E ratio of 41.65 and a beta of 1.49. Broadcom Inc. has a one year low of $289.96 and a one year high of $495.00.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.22 by $0.10. Broadcom had a return on equity of 48.33% and a net margin of 42.94%. The business had revenue of $29.59 billion for the quarter, compared to analysts' expectations of $29.24 billion. During the same quarter last year, the firm earned $1.69 EPS. The business's revenue for the quarter was up 85.5% on a year-over-year basis. Equities analysts anticipate that Broadcom Inc. will post 10.37 EPS for the current fiscal year.

Broadcom Announces Dividend

The company 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 yield of 0.8%. The ex-dividend date of this dividend was Monday, September 21st. Broadcom's payout ratio is currently 33.21%.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: DA Davidson upgraded Broadcom to Buy from Neutral and raised its price target to $400 from $350. The firm cited Broadcom’s exposure to major AI customers, including Anthropic and potentially OpenAI. Broadcom Falls Despite DA Davidson Upgrade
• Positive Sentiment: A $63 billion financing arrangement is expected to fund purchases of Broadcom AI hardware for Anthropic. The deal provides a potentially large, funded customer for Broadcom’s custom-chip and networking business, although the company could face substantial obligations under the agreement’s backstop. Broadcom’s $63 Billion Anthropic Deal
• Positive Sentiment: Longer-term investment theses remain favorable: Broadcom projects AI semiconductor revenue of approximately $115 billion in fiscal 2027 and $230 billion in fiscal 2028. Meta’s planned financing for its AI expansion could also support additional demand for Broadcom’s custom silicon and networking products. Meta Financing Plan and Broadcom
• Neutral Sentiment: Broadcom is trading well below its record high and below its 50-day and 200-day moving averages. Analysts see upside, but valuation remains demanding, making execution of the AI growth forecast particularly important.
• Negative Sentiment: Intel’s weaker-than-expected forecast prompted investors to reassess semiconductor demand. Concerns were reinforced by Amazon’s results and the rising cost of building AI infrastructure, pressuring AI-exposed chip stocks broadly. Why Intel, AMD and Broadcom Are Falling
• Negative Sentiment: The Anthropic transaction also carries execution and financial-risk questions. Investors are waiting to see whether Broadcom can manufacture and deliver the required hardware at scale before fully crediting the projected revenue. Broadcom’s Anthropic Deal and Execution Risk

Broadcom 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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