Broadcom Inc. $AVGO Stock: Keybank National Association OH Reduces Position

Key Points

• KeyBank cut its Broadcom stake by 2.7% in the third quarter, selling 45,914 shares. It retained 1.62 million shares valued at about $570.6 million, its 10th-largest portfolio holding.
• Analyst sentiment remains broadly positive: 39 analysts rate AVGO a Buy and five a Hold, with a consensus “Moderate Buy” rating and an average price target of $530.52.
• Broadcom beat quarterly earnings and revenue estimates, reporting EPS of $3.32 versus $3.22 expected and revenue of $29.59 billion. Revenue increased 85.5% year over year.

Keybank National Association OH lessened its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 2.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,624,875 shares of the semiconductor manufacturer's stock after selling 45,914 shares during the quarter. Broadcom comprises 1.9% of Keybank National Association OH's investment portfolio, making the stock its 10th biggest holding. Keybank National Association OH's holdings in Broadcom were worth $570,640,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in AVGO. Cornerstone Advisors LLC acquired a new position in Broadcom in the second quarter valued at $92,522,000. GAMMA Investing LLC raised its holdings in shares of Broadcom by 8.8% in the third quarter. GAMMA Investing LLC now owns 164,015 shares of the semiconductor manufacturer's stock valued at $55,889,000 after buying an additional 13,317 shares during the last quarter. ANB Bank purchased a new stake in shares of Broadcom in the third quarter valued at about $1,181,000. Bank of America Corp DE boosted its stake in shares of Broadcom by 1.5% during the first quarter. Bank of America Corp DE now owns 58,737,097 shares of the semiconductor manufacturer's stock worth $18,179,719,000 after buying an additional 894,564 shares during the period. Finally, Clear Harbor Asset Management LLC acquired a new stake in shares of Broadcom during the second quarter worth about $3,302,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on AVGO shares. Raymond James Financial reissued an "outperform" rating and set a $475.00 price target (up from $450.00) on shares of Broadcom in a report on Thursday, September 3rd. BMO Capital Markets upped their price objective on Broadcom from $455.00 to $575.00 and gave the company an "outperform" rating in a research note on Thursday, September 3rd. TD Cowen reaffirmed a "buy" rating and set a $475.00 price objective (down from $500.00) on shares of Broadcom in a research report on Thursday, September 3rd. Jefferies Financial Group began coverage on Broadcom in a research note on Thursday, September 3rd. They issued a "buy" rating and a $550.00 target price on the stock. Finally, Cantor Fitzgerald lifted their target price on Broadcom from $525.00 to $600.00 and gave the company an "overweight" rating in a research note on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Broadcom presently has a consensus rating of "Moderate Buy" and an average target price of $530.52.

Trending Headlines about Broadcom

These are some of the AVGO headlines that stood out recently:

• Positive Sentiment: Industry spending remains a supportive backdrop: analyst estimates for hyperscaler capital expenditures have risen sharply, suggesting continued investment in AI infrastructure that could underpin demand for Broadcom’s custom chips and related systems. Great News for Nvidia, Micron, Broadcom, and AMD Stock Investors
• Neutral Sentiment: Broadcom’s AI opportunity comes with customer-concentration risk: its five largest customers reportedly accounted for about 55% of recent-quarter revenue. Anthropic is expected to become its largest custom AI-chip customer in 2027, which could deepen reliance on a few major buyers. Broadcom’s customer concentration risk
• Negative Sentiment: Potentially tighter U.S. export controls and hardware-tracking rules could add compliance costs and delay international AI deployments. Such restrictions may affect Broadcom and other semiconductor suppliers, even if demand for AI infrastructure remains strong. Midterm Fallout, NVIDIA Turmoil, Anthropic’s IPO: Is Broadcom a Steal?

Broadcom Stock Up 5.5%

AVGO stock opened at $364.36 on Friday. Broadcom Inc. has a one year low of $289.77 and a one year high of $495.00. The stock has a market capitalization of $1.74 trillion, a PE ratio of 46.53 and a beta of 1.49. 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 company has a fifty day moving average of $345.59 and a 200-day moving average of $366.48.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.22 by $0.10. The business had revenue of $29.59 billion for the quarter, compared to analyst estimates of $29.24 billion. Broadcom had a net margin of 42.94% and a return on equity of 48.33%. The business's revenue was up 85.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.69 earnings per share. As a group, analysts expect that Broadcom Inc. will post 10.20 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Monday, September 21st. Broadcom's payout ratio is currently 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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