Broadcom Inc. $AVGO Stock Sold by Bangor Savings Bank

Key Points

• Bangor Savings Bank cut its Broadcom stake by 31% in the third quarter, selling 1,378 shares and retaining 3,071 shares valued at approximately $1.08 million. Institutional ownership remains high at 76.43%, with several other investors increasing their positions.
• Broadcom shares rose 3.7% to $375.81, while the company reported quarterly EPS and revenue above analyst estimates. Revenue increased 85.5% year over year, supporting continued optimism around its AI and semiconductor businesses.
• Wall Street maintains a “Moderate Buy” consensus, with an average price target of $527.20. Broadcom also pays a quarterly dividend of $0.65 per share, although its premium valuation and reliance on continued AI growth remain risks.

Bangor Savings Bank decreased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 31.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,071 shares of the semiconductor manufacturer's stock after selling 1,378 shares during the quarter. Bangor Savings Bank's holdings in Broadcom were worth $1,079,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Congress Asset Management Co. raised its stake in shares of Broadcom by 11.2% during the third quarter. Congress Asset Management Co. now owns 821,013 shares of the semiconductor manufacturer's stock valued at $288,331,000 after acquiring an additional 82,707 shares in the last quarter. Hall Laurie J Trustee bought a new position in Broadcom in the third quarter worth approximately $14,787,000. Private Capital Advisors Inc. grew its stake in Broadcom by 19.6% in the third quarter. Private Capital Advisors Inc. now owns 1,515 shares of the semiconductor manufacturer's stock worth $532,000 after purchasing an additional 248 shares in the last quarter. Colton Groome Financial Advisors LLC increased its holdings in Broadcom by 18.0% during the 3rd quarter. Colton Groome Financial Advisors LLC now owns 18,240 shares of the semiconductor manufacturer's stock worth $6,406,000 after purchasing an additional 2,782 shares during the period. Finally, Iowa State Bank increased its holdings in Broadcom by 0.9% during the 3rd quarter. Iowa State Bank now owns 17,884 shares of the semiconductor manufacturer's stock worth $6,281,000 after purchasing an additional 151 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Stock Up 3.7%

Shares of NASDAQ:AVGO traded up $13.30 on Tuesday, reaching $375.81. The company had a trading volume of 30,765,540 shares, compared to its average volume of 25,155,971. The firm has a market capitalization of $1.79 trillion, a PE ratio of 48.00 and a beta of 1.46. The company has a current ratio of 2.50, a quick ratio of 2.29 and a debt-to-equity ratio of 0.57. Broadcom Inc. has a 52-week low of $289.96 and a 52-week high of $495.00. The firm's 50 day simple moving average is $372.33 and its 200-day simple moving average is $381.36.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.22 by $0.10. The company had revenue of $29.59 billion for the quarter, compared to analyst estimates of $29.24 billion. Broadcom had a return on equity of 48.33% and a net margin of 42.94%.The firm's quarterly revenue was up 85.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.69 earnings per share. As a group, analysts expect that Broadcom Inc. will post 10.37 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Monday, September 21st were paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Monday, September 21st. Broadcom's payout ratio is 33.21%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Truist Financial lowered their target price on Broadcom from $550.00 to $520.00 and set a "buy" rating for the company in a report on Thursday, September 3rd. Jefferies Financial Group initiated coverage on Broadcom in a report on Thursday, September 3rd. They issued a "buy" rating and a $550.00 price objective for the company. Citic Securities upgraded Broadcom to a "buy" rating and lifted their price objective for the company from $450.00 to $525.00 in a report on Tuesday, September 8th. Erste Group Bank reaffirmed a "hold" rating on shares of Broadcom in a research note on Tuesday, July 7th. Finally, TD Cowen reiterated 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. One equities research analyst has rated the stock with a Strong Buy rating, thirty-seven have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Broadcom has a consensus rating of "Moderate Buy" and an average price target of $527.20.

Insider Activity at Broadcom

In other Broadcom news, insider Mark Brazeal sold 25,000 shares of Broadcom stock in a transaction on Friday, July 10th. The shares were sold at an average price of $401.33, for a total value 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gayla J. Delly sold 1,890 shares of Broadcom stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $385.38, for a total transaction of $728,368.20. Following the completion of the transaction, the director directly owned 31,326 shares in the company, valued at $12,072,413.88. This represents a 5.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 51,890 shares of company stock valued at $20,241,368. 1.90% of the stock is currently owned by company insiders.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Potential $42 billion Anthropic financing deal: Reports indicate Broadcom may be arranging a large financing package tied to Anthropic’s purchase of AI chips and related infrastructure. If completed, the deal could provide significant visibility into future AI revenue and reinforce Broadcom’s role as a key supplier to hyperscale customers. Broadcom Stock Jumps Following Reported $42 Billion Financing Deal With Anthropic Why Is Broadcom Lining Up a Large AI Chip Financing Deal?
• Positive Sentiment: Custom-chip momentum supports the AI growth story: Marvell’s investor-day discussion of custom AI silicon lifted sentiment across the sector, highlighting demand for specialized accelerators and networking products. Broadcom is viewed as one of the leading design partners for cloud companies developing their own chips. Marvell Rallies as Investor Day Presses the Custom AI Silicon Case
• Positive Sentiment: Analysts remain constructive on AI demand: Recent coverage emphasizes Broadcom’s sharply accelerating AI semiconductor revenue, including reported year-over-year growth above 200%, and argues that data-center power constraints may affect competitors and project timing more than Broadcom and Nvidia. Nvidia and Broadcom May Be Protected From AI Power Shortage
• Neutral Sentiment: Options activity signals bullish positioning: Investors purchased approximately 426,000 Broadcom call options, about 34% above typical daily call volume. This indicates increased speculative interest but does not guarantee sustained buying in the stock.
• Negative Sentiment: Financing and valuation risks remain: Critics question whether Anthropic-related arrangements could represent circular financing, in which supplier financing indirectly supports customer purchases. Broadcom also trades at a premium multiple, making the shares vulnerable if AI growth slows or the reported deal fails to materialize. Broadcom Has a New Problem: Anthropic

About Broadcom

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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