Broadcom Inc. $AVGO Stock: Narwhal Capital Management Raises Stake

Key Points

• Narwhal Capital Management increased its Broadcom stake by 4.4% in the third quarter, to 42,936 shares valued at about $15.1 million. Institutional investors collectively own 76.43% of the company.
• Analysts have a “Moderate Buy” consensus on Broadcom, with an average price target of $530.52; 39 analysts rate the stock a Buy, while five recommend Hold.
• Broadcom’s latest reported quarterly results beat expectations: EPS was $3.32 versus a $3.22 estimate, and revenue rose 85.5% year over year to $29.59 billion.

Narwhal Capital Management grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,936 shares of the semiconductor manufacturer's stock after acquiring an additional 1,814 shares during the quarter. Broadcom comprises approximately 1.0% of Narwhal Capital Management's portfolio, making the stock its 24th biggest position. Narwhal Capital Management's holdings in Broadcom were worth $15,079,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of AVGO. NerdWallet Wealth Partners LLC increased its stake in Broadcom by 2.6% during the 2nd quarter. NerdWallet Wealth Partners LLC now owns 1,057 shares of the semiconductor manufacturer's stock valued at $399,000 after purchasing an additional 27 shares in the last quarter. Veery Capital LLC raised its holdings in Broadcom by 1.4% in the second quarter. Veery Capital LLC now owns 1,900 shares of the semiconductor manufacturer's stock worth $718,000 after buying an additional 27 shares during the last quarter. Ridgeline Wealth Planning LLC raised its holdings in Broadcom by 2.1% in the second quarter. Ridgeline Wealth Planning LLC now owns 1,302 shares of the semiconductor manufacturer's stock worth $492,000 after buying an additional 27 shares during the last quarter. Meridian Management Co. raised its holdings in Broadcom by 0.3% in the first quarter. Meridian Management Co. now owns 9,425 shares of the semiconductor manufacturer's stock worth $2,917,000 after buying an additional 28 shares during the last quarter. Finally, Arkansas Financial Group Inc. lifted its stake in shares of Broadcom by 3.5% in the second quarter. Arkansas Financial Group Inc. now owns 866 shares of the semiconductor manufacturer's stock worth $327,000 after buying an additional 29 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Analyst Ratings Changes

AVGO has been the topic of a number of recent analyst reports. Weiss Ratings cut shares of Broadcom from a "buy (b)" rating to a "buy (b-)" rating in a report on Wednesday. Arete Research raised their price target on shares of Broadcom from $488.00 to $530.00 and gave the company a "buy" rating in a research report on Tuesday, July 21st. Rosenblatt Securities restated a "buy" rating and issued a $600.00 price objective on shares of Broadcom in a report on Tuesday, October 27th. Royal Bank Of Canada began coverage on Broadcom in a research report on Thursday, September 3rd. They issued an "outperform" rating on the stock. Finally, Piper Sandler started coverage on Broadcom in a research note on Wednesday, September 9th. They set an "overweight" rating and a $460.00 target price on the stock. One equities research 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, Broadcom currently has an average rating of "Moderate Buy" and an average price target of $530.52.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $364.36 on Friday. 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 $1.74 trillion, a price-to-earnings ratio of 46.53 and a beta of 1.49. The business has a 50-day simple moving average of $345.59 and a two-hundred day simple moving average of $366.48. Broadcom Inc. has a fifty-two week low of $289.77 and a fifty-two week high of $495.00.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $29.59 billion for the quarter, compared to the consensus estimate of $29.24 billion. During the same quarter last year, the firm posted $1.69 EPS. The business's quarterly revenue was up 85.5% compared to the same quarter last year. On average, analysts expect that Broadcom Inc. will post 10.20 earnings per share for the current year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Monday, September 21st were issued a $0.65 dividend. The ex-dividend date was Monday, September 21st. This represents a $2.60 annualized dividend and a yield of 0.7%. Broadcom's dividend payout ratio (DPR) is currently 33.21%.

More Broadcom News

Investors following AVGO have been watching these news items:

• Positive Sentiment: Investors are rotating toward rival chipmakers as uncertainty around Nvidia creates a potential opening for Broadcom to win more AI-chip business. Broadcom’s custom-chip focus positions it to benefit if hyperscalers expand alternatives to Nvidia’s products. Why Broadcom Stock Rallied Thursday Morning
• 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?

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.

Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc. (NASDAQ:AVGO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.