Broadcom Inc. $AVGO Stock Holdings Lessened by American National Bank & Trust

Key Points

• American National Bank & Trust reduced its Broadcom stake by 3.9% in the third quarter, selling 4,317 shares and retaining 107,531 shares worth approximately $37.7 million. Institutional investors collectively own 76.43% of Broadcom.
• Broadcom reported quarterly earnings of $3.32 per share, exceeding estimates, while revenue rose 85.5% year over year to $29.59 billion. The company also pays a quarterly dividend of $0.65, equivalent to a 0.7% annual yield.
• Despite strong AI-related growth and a “Moderate Buy” consensus rating with a $527.20 target price, investor concerns remain over valuation, hyperscaler dependence and whether AI optimism is already priced into the stock.

American National Bank & Trust trimmed its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 107,531 shares of the semiconductor manufacturer's stock after selling 4,317 shares during the quarter. Broadcom accounts for about 3.4% of American National Bank & Trust's holdings, making the stock its 7th largest position. American National Bank & Trust's holdings in Broadcom were worth $37,673,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Cornerstone Advisors LLC bought a new stake in shares of Broadcom during the 2nd quarter worth $92,522,000. Bank of America Corp DE increased its stake in Broadcom by 1.5% in the first quarter. Bank of America Corp DE now owns 58,737,097 shares of the semiconductor manufacturer's stock valued at $18,179,719,000 after acquiring an additional 894,564 shares during the last quarter. Clear Harbor Asset Management LLC purchased a new stake in Broadcom during the second quarter valued at about $3,302,000. Bartlett & CO. Wealth Management LLC boosted its holdings in shares of Broadcom by 129.3% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 110,048 shares of the semiconductor manufacturer's stock worth $34,061,000 after purchasing an additional 62,050 shares in the last quarter. Finally, Violich Capital Management Inc. boosted its holdings in shares of Broadcom by 26.1% in the 3rd quarter. Violich Capital Management Inc. now owns 21,791 shares of the semiconductor manufacturer's stock worth $7,653,000 after purchasing an additional 4,511 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Broadcom Trading Down 0.6%

Broadcom stock traded down $2.31 during trading hours on Wednesday, reaching $373.50. The stock had a trading volume of 7,842,801 shares, compared to its average volume of 25,064,432. The company has a fifty day simple moving average of $372.22 and a 200-day simple moving average of $381.78. Broadcom Inc. has a 52 week low of $289.96 and a 52 week high of $495.00. The stock has a market cap of $1.78 trillion, a PE ratio of 47.66 and a beta of 1.46. 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 (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, beating the consensus estimate 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 the consensus estimate of $29.24 billion. During the same period in the prior year, the firm posted $1.69 earnings per share. The company's quarterly revenue was up 85.5% compared to the same quarter last year. Analysts forecast that Broadcom Inc. will post 10.37 EPS for the current fiscal year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders 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 0.7%. The ex-dividend date was Monday, September 21st. Broadcom's dividend payout ratio (DPR) is currently 33.21%.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s AI revenue reportedly grew 221% year over year, reinforcing its position as a leading supplier of custom AI accelerators and networking equipment. Analysts argue that custom chips could become a larger and more durable opportunity than general-purpose GPUs as hyperscalers seek improved power efficiency and workload optimization. Broadcom's AI Revenue Is Growing at 221%
• Positive Sentiment: Marvell Technology’s ambitious custom-AI-chip outlook is a positive read-through for Broadcom, which competes for hyperscaler ASIC and networking projects. Marvell’s investor-day targets and emphasis on custom silicon helped lift sentiment across the segment. Marvell Rallies as Custom AI Silicon Gains Attention
• Positive Sentiment: Unusually heavy call-option activity, a reported $13 million Broadcom purchase by Cathie Wood, and bullish comparisons with Nvidia indicate continued institutional and retail interest in AVGO’s AI growth prospects. Cathie Wood Just Bought Broadcom Stock
• Neutral Sentiment: Morgan Stanley believes Broadcom and Nvidia may be relatively protected from a potential U.S. data-center power shortage, although constrained electricity could still slow the broader AI infrastructure buildout. Nvidia and Broadcom May Be Protected From AI Power Shortage
• Negative Sentiment: Investor skepticism remains the main overhang: some coverage questions whether strong AI results are already priced in and highlights concerns about circular financing linked to Anthropic, hyperscaler dependence and the stock’s tendency to disappoint after earnings beats. These risks help explain why AVGO has not been consistently rewarded for its operating performance. Broadcom: When The Story And The Stock Disagree

Wall Street Analyst Weigh In

AVGO has been the subject of a number of recent research reports. Weiss Ratings downgraded Broadcom from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, July 30th. Raymond James Financial restated an "outperform" rating and issued a $475.00 price objective (up from $450.00) on shares of Broadcom in a report on Thursday, September 3rd. TD Cowen reaffirmed a "buy" rating and set a $475.00 target price (down from $500.00) on shares of Broadcom in a report on Thursday, September 3rd. Citic Securities raised shares of Broadcom to a "buy" rating and boosted their price target for the stock from $450.00 to $525.00 in a research note on Tuesday, September 8th. Finally, Piper Sandler initiated coverage on shares of Broadcom in a research report on Wednesday, September 9th. They set an "overweight" rating and a $460.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, thirty-seven have given a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $527.20.

Insider Buying and Selling at Broadcom

In other news, insider Mark Brazeal sold 25,000 shares of the business's stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $401.33, for a total transaction of $10,033,250.00. Following the transaction, the insider directly owned 194,989 shares of the company's stock, valued at approximately $78,254,935.37. The trade was a 11.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.90% of the company's stock.

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 wired and wireless communications, data center networking, broadband access, storage, industrial applications, and other markets.

The company's semiconductor portfolio includes networking and switching products, custom application-specific integrated circuits, wireless connectivity components, radio-frequency devices, optical components, and storage-related solutions.

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