Broadcom Inc. $AVGO Stock: SVB Wealth LLC Reduces Holdings

SVB Wealth LLC cut its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 13.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 95,514 shares of the semiconductor manufacturer's stock after selling 14,307 shares during the quarter. Broadcom makes up about 2.3% of SVB Wealth LLC's portfolio, making the stock its 9th largest position. SVB Wealth LLC's holdings in Broadcom were worth $33,543,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also bought and sold shares of AVGO. State Street Corp raised its holdings in shares of Broadcom by 8.7% during 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 during the period. Bank of America Corp DE grew its stake in shares of Broadcom by 4.6% in the 2nd 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 buying an additional 2,685,916 shares during the period. Wellington Management Group LLP grew its stake in shares of Broadcom by 3.8% in the 2nd quarter. Wellington Management Group LLP now owns 51,580,703 shares of the semiconductor manufacturer's stock valued at $19,484,611,000 after buying an additional 1,892,721 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position 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 valued at $15,178,195,000 after buying an additional 1,140,598 shares in the last quarter. Finally, Legal & General Group Plc bought a new stake in Broadcom in the 2nd quarter valued at about $11,998,148,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Latest Broadcom News

These are some of the AVGO news items that stood out recently:

• Positive Sentiment: Broadcom could benefit as cloud providers diversify beyond NVIDIA and invest in custom AI chips. The company designs custom ASICs for hyperscalers, and Anthropic’s disclosed spending commitments have been cited as support for Broadcom’s growth outlook. Anthropic’s S-1 strengthens the case for Broadcom’s AI growth
• Positive Sentiment: Despite Rothschild & Co Redburn’s downgrade, the articles note that Wall Street’s average price target remains around $533, above the firm’s new $398 target. This suggests some analysts still see substantial upside. Is Rothschild & Co Redburn Wrong to Give Up on Broadcom?
• Negative Sentiment: Rothschild & Co Redburn cut AVGO to Neutral from Buy and lowered its price target by 33%, from $595 to $398. It flagged risk from Broadcom’s growing exposure to AI financing arrangements, including reliance on AI companies such as Anthropic and OpenAI that are not yet self-funding. Broadcom stock falls as firm flags AI financing risks

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on AVGO shares. Morgan Stanley reaffirmed an "overweight" rating and set a $505.00 price target (up from $502.00) on shares of Broadcom in a research note on Thursday, September 3rd. Evercore set a $578.00 price objective on Broadcom and gave the company an "outperform" rating in a research note on Thursday, September 3rd. JPMorgan Chase & Co. restated a "buy" rating on shares of Broadcom in a report on Thursday, September 3rd. Rothschild & Co Redburn lowered Broadcom from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $595.00 to $398.00 in a research report on Friday. Finally, Wedbush started coverage on Broadcom in a research report on Tuesday, October 27th. They set an "outperform" rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Broadcom currently has an average rating of "Moderate Buy" and a consensus price target of $525.19.

Broadcom Stock Down 4.8%

Shares of NASDAQ:AVGO traded down $17.35 during midday trading on Friday, hitting $347.01. 31,579,948 shares of the company's stock were exchanged, compared to its average volume of 26,761,208. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.29. The stock has a 50 day moving average price of $345.39 and a 200-day moving average price of $366.55. The company has a market cap of $1.66 trillion, a PE ratio of 44.32 and a beta of 1.49. Broadcom Inc. has a 12 month low of $289.77 and a 12 month high of $495.00.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share for the quarter, topping analysts' consensus estimates of $3.22 by $0.10. Broadcom had a net margin of 42.94% and a return on equity of 48.33%. The company had revenue of $29.59 billion for the quarter, compared to analyst estimates of $29.24 billion. During the same quarter in the prior year, the business posted $1.69 EPS. The firm's revenue was up 85.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Broadcom Inc. will post 10.20 EPS for the current fiscal year.

Broadcom Dividend Announcement

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

Broadcom Profile

Broadcom Inc. is a global technology company that designs and supplies semiconductor products and infrastructure software. Its semiconductor portfolio includes chips and components used in networking, broadband communications, wireless connectivity, data storage, and industrial applications. The company serves businesses across a range of industries, including communications, enterprise technology, and consumer electronics. Broadcom also provides infrastructure software, including products for virtualization, cloud computing, cybersecurity, and enterprise operations.

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