Equitable Holdings Inc. Boosts Holdings in Broadcom Inc. $AVGO

Key Points

• Equitable Holdings increased its Broadcom stake by 3.2% in the second quarter, adding 8,494 shares for a total of 271,968 shares valued at approximately $102.7 million. Institutional investors collectively own 76.43% of Broadcom.
• Broadcom reported quarterly adjusted earnings of $3.32 per share and revenue of $29.59 billion, beating analyst expectations; revenue increased 85.5% year over year. The company also declared a quarterly dividend of $0.65 per share.
• Analyst sentiment remains favorable, with 31 Buy ratings and four Holds and an average price target of $500.60, although concerns include slightly weaker-than-expected revenue guidance, margin pressure and customer concentration. Broadcom insiders sold $24.0 million of stock over the past 90 days.

Equitable Holdings Inc. increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 271,968 shares of the semiconductor manufacturer's stock after acquiring an additional 8,494 shares during the quarter. Broadcom comprises about 0.6% of Equitable Holdings Inc.'s portfolio, making the stock its 25th largest holding. Equitable Holdings Inc.'s holdings in Broadcom were worth $102,736,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the company. Fullerton Advisors LLC raised its stake in Broadcom by 1.3% during the first quarter. Fullerton Advisors LLC now owns 1,989 shares of the semiconductor manufacturer's stock valued at $616,000 after purchasing an additional 25 shares in the last quarter. NORTHSTAR ASSET MANAGEMENT Co raised its position in Broadcom by 0.5% in the 1st quarter. NORTHSTAR ASSET MANAGEMENT Co now owns 5,350 shares of the semiconductor manufacturer's stock worth $1,656,000 after purchasing an additional 25 shares during the period. RFG Holdings Inc. lifted its stake in shares of Broadcom by 0.3% during the 1st quarter. RFG Holdings Inc. now owns 8,499 shares of the semiconductor manufacturer's stock worth $2,631,000 after acquiring an additional 26 shares during the last quarter. Yukon Wealth Management Inc. boosted its stake in shares of Broadcom by 1.1% during the first quarter. Yukon Wealth Management Inc. now owns 2,501 shares of the semiconductor manufacturer's stock valued at $774,000 after purchasing an additional 26 shares during the period. Finally, NerdWallet Wealth Partners LLC boosted its position in Broadcom by 2.6% in the 2nd quarter. NerdWallet Wealth Partners LLC now owns 1,057 shares of the semiconductor manufacturer's stock valued at $399,000 after buying an additional 27 shares during the period. Institutional investors own 76.43% of the company's stock.

Insider Activity

In other news, Director Justine Page sold 1,602 shares of the stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $373.86, for a total transaction of $598,923.72. Following the transaction, the director owned 17,426 shares in the company, valued at $6,514,884.36. This trade represents a 8.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gayla J. Delly sold 1,890 shares of the stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $385.38, for a total transaction of $728,368.20. Following the transaction, the director directly owned 31,326 shares in the company, valued at approximately $12,072,413.88. The trade was a 5.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 61,644 shares of company stock worth $24,016,214 in the last ninety days. Corporate insiders own 1.90% of the company's stock.

Analyst Ratings Changes

AVGO has been the subject of a number of research analyst reports. Citigroup reaffirmed a "buy" rating and set a $515.00 target price (up from $500.00) on shares of Broadcom in a research report on Friday. Zacks Research cut shares of Broadcom from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 21st. Cantor Fitzgerald boosted their price target on shares of Broadcom from $525.00 to $600.00 and gave the company an "overweight" rating in a report on Thursday. Wall Street Zen lowered shares of Broadcom from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 18th. Finally, Truist Financial reduced their price objective on shares of Broadcom from $550.00 to $520.00 and set a "buy" rating for the company in a research note on Thursday. Thirty-one equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Broadcom currently has an average rating of "Moderate Buy" and an average price target of $500.60.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Investor interest in Broadcom’s AI opportunity remains strong. AI semiconductor revenue surged 221% year over year to $16.7 billion, while management raised its AI revenue outlook to approximately $115 billion for fiscal 2027 and $230 billion for fiscal 2028. Several analysts and commentators view the selloff as a buying opportunity. The Path to $230 Billion: Broadcom Outlines the Next Phase of Its AI Growth Story
• Positive Sentiment: Analysts continue to see substantial upside despite some target reductions. Truist maintained a buy rating with a $520 target, while other firms cited targets ranging from $575 to $600. Macquarie upgraded Broadcom to Outperform, citing strong custom-chip growth and reduced concerns about customers developing chips internally. These Analysts Increase Their Forecasts On Broadcom Following Upbeat Q3 Earnings
• Positive Sentiment: Unusual options activity provided another bullish trading signal: investors purchased roughly 373,000 call options, about 26% above average call volume. Broadcom also declared a quarterly dividend of $0.65 per share, payable September 30 to eligible shareholders.
• Neutral Sentiment: Broadcom beat quarterly expectations with adjusted earnings of $3.32 per share versus a $3.22 consensus and revenue of $29.59 billion. The company’s long-term AI demand commentary was strong, but investors are focused on whether supply, power, land and data-center construction constraints can limit near-term shipments. Broadcom CEO Says AI Demand Could Be Significantly Higher
• Negative Sentiment: The main pressure remains Broadcom’s fourth-quarter revenue outlook of $34.8 billion, slightly below Wall Street’s roughly $35.0 billion expectation. The modest guidance miss, concerns about margin compression and customer concentration—including major AI customers—caused the initial sell-the-news reaction despite excellent AI growth.
• Negative Sentiment: Third Point disclosed that it exited its remaining Broadcom position during the second quarter. Although the holding was relatively small, the sale adds to caution around elevated valuation and expectations for the AI-chip cycle.

Broadcom Stock Performance

AVGO opened at $357.89 on Monday. 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 firm has a 50 day moving average of $383.57 and a two-hundred day moving average of $377.59. Broadcom Inc. has a 12-month low of $289.96 and a 12-month high of $495.00. The firm has a market capitalization of $1.70 trillion, a PE ratio of 45.71 and a beta of 1.44.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 EPS for the quarter, beating the consensus estimate 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 period in the prior year, the company earned $1.69 earnings per share. The firm's revenue was up 85.5% on a year-over-year basis. On average, analysts anticipate that Broadcom Inc. will post 10.25 EPS for the current year.

Broadcom Dividend Announcement

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

Broadcom Company Profile

Broadcom Inc NASDAQ: AVGO is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company's semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom's portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.

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