Broadcom Inc. $AVGO Stock Position Boosted by Absolute Capital Management LLC

Absolute Capital Management LLC grew its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 45.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,688 shares of the semiconductor manufacturer's stock after purchasing an additional 2,079 shares during the quarter. Absolute Capital Management LLC's holdings in Broadcom were worth $2,349,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of AVGO. State Street Corp boosted its holdings in shares of Broadcom by 8.7% during the 2nd quarter. State Street Corp now owns 208,031,610 shares of the semiconductor manufacturer's stock valued at $75,367,711,000 after buying an additional 16,651,378 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Broadcom by 4.6% during the second 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 acquiring an additional 2,685,916 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Broadcom by 3.8% during the second quarter. Wellington Management Group LLP now owns 51,580,703 shares of the semiconductor manufacturer's stock valued at $19,484,611,000 after acquiring an additional 1,892,721 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Broadcom by 2.9% during the second 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 acquiring an additional 1,140,598 shares in the last quarter. Finally, Legal & General Group Plc purchased a new position in shares of Broadcom in the 2nd quarter worth about $11,998,148,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AVGO. Cantor Fitzgerald upped their price target on Broadcom from $525.00 to $600.00 and gave the company an "overweight" rating in a report on Thursday, September 3rd. Rosenblatt Securities started coverage on Broadcom in a research report on Thursday, September 3rd. They set a "buy" rating and a $600.00 price objective on the stock. Weiss Ratings upgraded Broadcom from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, October 8th. Erste Group Bank reissued a "hold" rating on shares of Broadcom in a research report on Tuesday, July 7th. Finally, Sanford C. Bernstein restated a "buy" rating on shares of Broadcom in a research note on Monday, September 21st. 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $527.20.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom benefited from renewed optimism around custom silicon after analysts characterized a reported delay to Alphabet’s next TPU generation as manageable for its chip partners. The view supports expectations that hyperscaler demand for Broadcom’s AI accelerators and networking products remains strong. Marvell and Broadcom AI-chip demand article
• Positive Sentiment: Several reports argue that Broadcom is positioned to capture a growing share of the custom-chip market as cloud providers build AI infrastructure. Analysts cited in recent coverage see substantial upside after the stock’s underperformance over the past six months. Broadcom analyst upside article
• Positive Sentiment: Institutional investors appear to be treating the semiconductor pullback as a buying opportunity rather than evidence of weakening fundamentals. Broadcom is included among the chipmakers supported by ongoing hyperscaler capital spending and the broader AI hardware cycle. Chip stocks institutional buying article
• Neutral Sentiment: Broadcom and other companies objected to OKX-ICE listing tokenized versions of their shares. The dispute could create legal or investor-relations complications, but it does not currently change Broadcom’s operating outlook. Tokenized Broadcom shares article
• Negative Sentiment: Broadcom’s CEO warned that AI demand could eventually face a financing and return-on-investment constraint, even if computing demand exceeds supply through 2029 or 2030. The comments highlight the risk that customers may slow spending if AI infrastructure economics deteriorate. Broadcom CEO AI-demand risks article
• Negative Sentiment: Technical coverage described the rebound as vulnerable to a “dead cat bounce,” with a developing death-cross pattern and continuing concerns about elevated valuation after the stock’s decline from its high. Broadcom technical rebound article

Broadcom Stock Up 1.8%

Shares of NASDAQ AVGO opened at $334.59 on Tuesday. The firm's 50-day moving average price is $362.57 and its 200-day moving average price is $384.32. The company has a current ratio of 2.50, a quick ratio of 2.29 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $1.60 trillion, a price-to-earnings ratio of 38.36 and a beta of 1.46. Broadcom Inc. has a 12-month low of $289.96 and a 12-month high of $495.00.

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 for the quarter, topping 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 firm had revenue of $29.59 billion for the quarter, compared to the consensus estimate of $29.24 billion. During the same period in the prior year, the business posted $1.69 earnings per share. The company's revenue for the quarter was up 85.5% on a year-over-year basis. On average, equities research analysts anticipate that Broadcom Inc. will post 10.37 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Monday, September 21st were issued a dividend of $0.65 per share. 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 dividend payout ratio (DPR) is presently 33.21%.

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.

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.