Broadcom Inc. $AVGO Stock Sold by Indiana Trust & Investment Management Co

Key Points

• Indiana Trust & Investment Management Co. reduced its Broadcom stake by 25% in the third quarter, selling 2,175 shares and retaining 6,530 shares valued at approximately $2.3 million. Institutional investors collectively own 76.43% of AVGO.
• Broadcom reported quarterly earnings and revenue above analyst expectations, with revenue rising 85.5% year over year. The company also maintains a quarterly dividend of $0.65 per share, equivalent to a 0.8% annual yield.
• Analysts remain broadly bullish, with Broadcom receiving a “Moderate Buy” consensus rating and an average price target of $529.17, although concerns include Alphabet diversifying custom-chip suppliers and tighter financing for AI data centers.

Indiana Trust & Investment Management Co cut its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 25.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,530 shares of the semiconductor manufacturer's stock after selling 2,175 shares during the period. Broadcom accounts for 0.6% of Indiana Trust & Investment Management Co's holdings, making the stock its 29th biggest holding. Indiana Trust & Investment Management Co's holdings in Broadcom were worth $2,293,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Networth Advisors LLC lifted its position in Broadcom by 546.2% during the first quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer's stock valued at $26,000 after acquiring an additional 71 shares during the last quarter. Core Capital Management & Research inc. acquired a new position in shares of Broadcom during the second quarter worth $31,000. Harborfront Financial Group LLC acquired a new position in shares of Broadcom during the second quarter worth $38,000. Align Financial LLC lifted its holdings in shares of Broadcom by 67.2% during the 3rd quarter. Align Financial LLC now owns 112 shares of the semiconductor manufacturer's stock valued at $38,000 after purchasing an additional 45 shares during the last quarter. Finally, IMG Wealth Management Inc. purchased a new stake in shares of Broadcom during the 2nd quarter valued at $64,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Trading Up 2.3%

Shares of NASDAQ:AVGO opened at $329.17 on Tuesday. Broadcom Inc. has a 52-week low of $289.96 and a 52-week high of $495.00. The stock has a market cap of $1.57 trillion, a price-to-earnings ratio of 42.04 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. The business has a 50-day moving average price of $356.76 and a 200-day moving average price of $367.07.

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

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Monday, September 21st. This represents a $2.60 dividend on an annualized basis and a yield of 0.8%. Broadcom's dividend payout ratio (DPR) is currently 33.21%.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: A coalition of banks and Blackstone is reportedly arranging a $63 billion financing vehicle to purchase AI-computing infrastructure from Broadcom and lease it to Anthropic. The proposed transaction would provide a potentially significant source of demand and revenue visibility. Banks, Blackstone Form $63 Billion Financing Vehicle for Broadcom AI Tech
• Positive Sentiment: Anthropic’s IPO filing disclosed approximately $224.5 billion of non-cancelable compute commitments with Amazon and Alphabet. The scale of those commitments supports continued spending on custom AI accelerators and networking equipment supplied or co-designed by Broadcom. Anthropic's IPO Filing Reveals a Massive Opportunity for AI Infrastructure Giants
• Positive Sentiment: Reports highlight unusually heavy call-option activity and argue that Broadcom’s custom AI chips are gaining popularity among major AI companies. Bullish commentary also points to strong projected growth in custom silicon and networking through 2030. Huge, unusual call option activity in Broadcom shows investors bullish on AVGO stock
• Neutral Sentiment: Broadcom’s stock is being described as potentially attractive after reaching a six-month low, although investors remain focused on whether future AI growth is already reflected in its premium valuation. Broadcom Is At a 6-Month Low - Is AVGO Stock Too Cheap?
• Negative Sentiment: Alphabet is reportedly diversifying its TPU suppliers to include MediaTek, raising concerns that Broadcom could lose some custom-chip business. Growing demand from Anthropic and OpenAI may offset that risk, but supplier diversification remains an important competitive threat. Broadcom's AI Chip Business Is Booming, But Alphabet's Strategy Highlights 2 Key Risks
• Negative Sentiment: Concerns that debt-market funding for AI data centers is tightening could slow infrastructure construction and customer spending. Separately, Erste Group Bank cut its earnings estimates for Broadcom, adding near-term pressure to expectations.

Analysts Set New Price Targets

A number of analysts have recently weighed in on AVGO shares. JPMorgan Chase & Co. reissued a "buy" rating on shares of Broadcom in a research report on Thursday, September 3rd. Raymond James Financial restated an "outperform" rating and set a $475.00 target price (up from $450.00) on shares of Broadcom in a research note on Thursday, September 3rd. Piper Sandler began coverage on Broadcom in a research report on Wednesday, September 9th. They set an "overweight" rating and a $460.00 target price on the stock. President Capital increased their price target on Broadcom from $520.00 to $546.00 and gave the company a "buy" rating in a research note on Thursday, September 3rd. Finally, The Goldman Sachs Group lifted their target price on shares of Broadcom from $525.00 to $540.00 and gave the stock a "buy" rating in a research note on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Broadcom has an average rating of "Moderate Buy" and a consensus price target of $529.17.

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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