Broadcom Inc. $AVGO Stock Sold by Cyndeo Wealth Partners LLC

Key Points

• Cyndeo Wealth Partners reduced its Broadcom stake by 16% in the third quarter, selling 27,390 shares. It still held 143,337 shares worth approximately $50.3 million, representing 2.2% of its portfolio.
• Broadcom reported strong quarterly results, with revenue up 85.5% year over year to $29.59 billion and earnings of $3.32 per share, exceeding analyst expectations. Institutional investors own 76.43% of the company.
• The company’s AI-chip and networking opportunity remains a major growth driver, but CEO Hock Tan warned that high financing costs and speculative AI investment could slow demand. Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and a $527.20 target price.

Cyndeo Wealth Partners LLC lessened its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 16.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 143,337 shares of the semiconductor manufacturer's stock after selling 27,390 shares during the period. Broadcom makes up approximately 2.2% of Cyndeo Wealth Partners LLC's holdings, making the stock its 5th largest position. Cyndeo Wealth Partners LLC's holdings in Broadcom were worth $50,339,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Cornerstone Advisors LLC acquired a new stake in Broadcom in the 2nd quarter worth $92,522,000. GAMMA Investing LLC increased its holdings in shares of Broadcom by 8.8% during the 3rd quarter. GAMMA Investing LLC now owns 164,015 shares of the semiconductor manufacturer's stock worth $55,889,000 after purchasing an additional 13,317 shares during the period. ANB Bank acquired a new position in shares of Broadcom during the third quarter valued at about $1,181,000. Bank of America Corp DE raised its position 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 valued at $18,179,719,000 after buying an additional 894,564 shares during the last quarter. Finally, Clear Harbor Asset Management LLC acquired a new position in shares of Broadcom during the second quarter valued at about $3,302,000. Institutional investors own 76.43% of the company's stock.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s long-term AI opportunity remains attractive because hyperscalers and companies including OpenAI, Anthropic, Alphabet and Meta are adopting custom-designed chips and high-speed networking as alternatives to Nvidia GPUs. Analysts and investors continue to view Broadcom’s combination of custom silicon, networking and infrastructure software as a potential long-term growth engine. Will Broadcom Rejoin the $2 Trillion Club in 2027?
• Positive Sentiment: Erste Group raised its FY2027 earnings forecast for Broadcom, while roughly $121.5 million of net ETF purchases on Oct. 14 indicate that some institutional investors continue to add exposure. Broadcom FY2027 Earnings Forecast Raised by Erste Group Bank
• Neutral Sentiment: Broadcom’s reported plan to arrange $60 billion in financing connected to Anthropic could expand its AI relationship and customer opportunity, but it also increases the financial stakes and execution risk of the company’s AI strategy. Broadcom’s Anthropic Bet Gets Bigger
• Neutral Sentiment: Broadcom and CoreWeave rejected tokenized shares offered through the OKX/ICE venue, limiting a potential new trading channel but signaling caution around digital representations of public-company stock. CoreWeave, Broadcom Reject Tokenized Shares
• Negative Sentiment: CEO Hock Tan warned that rising financing costs and speculative, “casino-like” AI investing could slow expansion. His comments raise concerns that AI customers may reduce capital spending or struggle to turn heavy infrastructure investments into profits, weighing particularly on custom-AI-chip suppliers. Broadcom Falls as AI Capital Warning Weighs
• Negative Sentiment: Higher-than-expected inflation and expectations for higher interest rates are prompting investors to rotate away from expensive technology and AI stocks. A Gartner warning that many neocloud companies could fail or consolidate by 2030 has intensified fears of an AI infrastructure spending mismatch. MarketBeat Week in Review
• Negative Sentiment: Reports that Apple may cut iPhone 18 Pro component orders create an additional demand concern for suppliers, although Broadcom’s exposure and potential impact appear less direct than for some peers. Apple Cut iPhone 18 Orders

Broadcom Stock Performance

NASDAQ:AVGO opened at $328.75 on Monday. The firm has a market capitalization of $1.57 trillion, a PE ratio of 41.99 and a beta of 1.46. The company has a quick ratio of 2.29, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. Broadcom Inc. has a 12-month low of $289.96 and a 12-month high of $495.00. The firm has a 50-day moving average price of $364.33 and a 200 day moving average price of $384.14.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $29.24 billion. During the same period in the previous year, the business earned $1.69 earnings per share. The company's quarterly revenue was up 85.5% on a year-over-year basis. Research analysts anticipate that Broadcom Inc. will post 10.37 earnings per share for the current fiscal 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 given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Monday, September 21st. Broadcom's dividend payout ratio (DPR) is 33.21%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. KeyCorp reiterated an "overweight" rating and issued a $575.00 target price on shares of Broadcom in a research note on Thursday, September 3rd. Truist Financial lowered their price target on Broadcom from $550.00 to $520.00 and set a "buy" rating on the stock in a research note on Thursday, September 3rd. HSBC cut their price target on Broadcom from $600.00 to $560.00 and set a "buy" rating for the company in a report on Thursday, September 3rd. Wall Street Zen downgraded Broadcom from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 18th. Finally, The Goldman Sachs Group raised their price objective on Broadcom from $525.00 to $540.00 and gave the stock a "buy" rating in a research report on Thursday, September 3rd. One analyst has rated the stock with a Strong Buy rating, thirty-seven have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $527.20.

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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