Broadcom Inc. $AVGO Stock Purchased by WestEnd Advisors LLC

Key Points

• WestEnd Advisors LLC dramatically increased its Broadcom stake by acquiring 81,512 additional shares in the third quarter, bringing its holdings to 81,593 shares valued at approximately $28.7 million. Institutional investors collectively own 76.43% of Broadcom.
• Wall Street remains broadly positive, with 39 analysts rating Broadcom a Buy and a consensus “Moderate Buy” rating. The average price target is $530.52, despite some firms recently lowering their targets.
• Broadcom reported strong quarterly results, including $3.32 in adjusted EPS and $29.59 billion in revenue, with revenue rising 85.5% year over year. Shares opened at $326.08, down 5.5%, while the company maintains a quarterly dividend of $0.65 per share.

WestEnd Advisors LLC grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 100,632.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 81,593 shares of the semiconductor manufacturer's stock after acquiring an additional 81,512 shares during the quarter. WestEnd Advisors LLC's holdings in Broadcom were worth $28,656,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of AVGO. State Street Corp raised its stake in Broadcom by 8.7% in the second quarter. State Street Corp now owns 208,031,610 shares of the semiconductor manufacturer's stock valued at $75,367,711,000 after purchasing an additional 16,651,378 shares in the last quarter. Bank of America Corp DE lifted its position in 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 purchasing an additional 2,685,916 shares during the last quarter. Wellington Management Group LLP grew its stake in Broadcom by 3.8% in the 2nd quarter. Wellington Management Group LLP now owns 51,580,703 shares of the semiconductor manufacturer's stock worth $19,484,611,000 after buying an additional 1,892,721 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Broadcom by 2.9% in the 2nd 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 worth $15,178,195,000 after buying an additional 1,140,598 shares in the last quarter. Finally, Legal & General Group Plc purchased a new position in Broadcom in the 2nd quarter worth approximately $11,998,148,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on AVGO shares. Truist Financial decreased their price target on shares of Broadcom from $550.00 to $520.00 and set a "buy" rating on the stock in a report on Thursday, September 3rd. HSBC dropped their price objective on shares of Broadcom from $600.00 to $560.00 and set a "buy" rating for the company in a report on Thursday, September 3rd. Oppenheimer started coverage on shares of Broadcom in a research report on Tuesday. They issued a "buy" rating for the company. Wedbush started coverage on Broadcom in a research note on Tuesday. They issued an "outperform" rating on the stock. Finally, BNP Paribas Exane increased their target price on Broadcom from $675.00 to $715.00 and gave the company an "outperform" rating in a research note on Friday, September 4th. One research analyst has rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $530.52.

Broadcom Stock Down 5.5%

AVGO opened at $326.08 on Friday. Broadcom Inc. has a 12 month low of $289.96 and a 12 month high of $495.00. 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 business's 50-day moving average price is $352.81 and its 200-day moving average price is $366.96. The company has a market cap of $1.56 trillion, a P/E ratio of 41.65 and a beta of 1.46.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share 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 company had revenue of $29.59 billion during the quarter, compared to analysts' expectations of $29.24 billion. During the same period in the prior year, the business posted $1.69 EPS. Broadcom's quarterly revenue was up 85.5% compared to the same quarter last year. On average, equities analysts expect that Broadcom Inc. will post 10.37 EPS for the current year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st were given a $0.65 dividend. The ex-dividend date was Monday, September 21st. This represents a $2.60 annualized dividend and a yield of 0.8%. Broadcom's payout ratio is presently 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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