Foyston Gordon & Payne Inc Acquires New Shares in Broadcom Inc. $AVGO

Key Points

• Foyston Gordon & Payne acquired 67,215 Broadcom shares worth approximately $25.5 million, making AVGO its second-largest portfolio position at 5.5%. Institutional investors collectively own 76.43% of the company.
• Broadcom reported quarterly revenue of $29.59 billion, up 85.5% year over year, while EPS of $3.32 beat estimates. AI semiconductor revenue surged 221% to $16.7 billion, underscoring strong demand for its custom AI accelerators.
• The company forecast fourth-quarter revenue of about $34.8 billion, slightly below Wall Street expectations, raising concerns about competition and execution despite continued growth. Analysts remain broadly positive, with a “Moderate Buy” consensus and an average price target of $491.97.

Foyston Gordon & Payne Inc purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 67,215 shares of the semiconductor manufacturer's stock, valued at approximately $25,488,000. Broadcom makes up 5.5% of Foyston Gordon & Payne Inc's investment portfolio, making the stock its 2nd largest position.

Other large investors have also made changes to their positions in the company. Norges Bank bought a new position in shares of Broadcom during the 4th quarter valued at $24,252,196,000. Bank of New York Mellon Corp bought a new stake in Broadcom in the second quarter worth $10,528,191,000. Deutsche Bank AG acquired a new position in Broadcom during the second quarter worth $5,661,216,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Broadcom during the second quarter worth $4,457,583,000. Finally, Cardano Risk Management B.V. raised its holdings in Broadcom by 895.2% during the fourth quarter. Cardano Risk Management B.V. now owns 12,689,800 shares of the semiconductor manufacturer's stock valued at $4,391,940,000 after buying an additional 11,414,701 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Insider Activity at Broadcom

In other Broadcom news, Director Justine Page sold 1,602 shares of the firm's stock in a transaction on Monday, June 29th. The shares were sold at an average price of $373.86, for a total value of $598,923.72. Following the sale, the director directly owned 17,426 shares in the company, valued at $6,514,884.36. This trade represents a 8.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Mark David Brazeal sold 25,000 shares of the business's stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $401.33, for a total transaction of $10,033,250.00. Following the transaction, the insider owned 194,989 shares in the company, valued at approximately $78,254,935.37. The trade was a 11.36% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 61,644 shares of company stock worth $24,016,214. 1.90% of the stock is owned by insiders.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $367.24 on Thursday. The company has a market cap of $1.75 trillion, a price-to-earnings ratio of 61.21, a PEG ratio of 0.71 and a beta of 1.44. The business has a 50 day moving average price of $384.15 and a 200 day moving average price of $377.14. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71. Broadcom Inc. has a twelve month low of $289.96 and a twelve month high of $495.00.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 EPS for the quarter, topping the consensus estimate of $3.22 by $0.10. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.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 posted $1.69 EPS. The company's revenue for the quarter was up 85.5% on a year-over-year basis. Research analysts predict that Broadcom Inc. will post 10.24 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. TD Cowen reiterated a "buy" rating and set a $500.00 price target on shares of Broadcom in a research note on Thursday, June 4th. Cantor Fitzgerald restated an "overweight" rating and issued a $525.00 target price on shares of Broadcom in a report on Thursday, June 4th. BMO Capital Markets began coverage on Broadcom in a report on Thursday, August 20th. They set an "outperform" rating and a $455.00 price target on the stock. UBS Group set a $485.00 price target on shares of Broadcom and gave the company a "buy" rating in a research report on Thursday, June 4th. Finally, Mizuho boosted their price objective on shares of Broadcom from $480.00 to $530.00 and gave the stock an "outperform" rating in a research note on Thursday, June 4th. Twenty-nine analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $491.97.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom reported fiscal third-quarter revenue of $29.59 billion, up 85.5% year over year, while non-GAAP EPS of $3.32 exceeded the $3.22 analyst consensus. GAAP profit rose sharply to $13.09 billion from $4.14 billion a year earlier. Broadcom third-quarter earnings report
• Positive Sentiment: AI semiconductor revenue reached $16.7 billion, increasing 221% year over year and 54% sequentially, highlighting strong demand for Broadcom’s custom AI accelerators. The company also generated $13.7 billion in free cash flow and declared a quarterly dividend of $0.65 per share. Broadcom AI semiconductor revenue and guidance
• Neutral Sentiment: Broadcom guided to approximately $34.8 billion in fourth-quarter revenue, representing 93% year-over-year growth, with non-GAAP operating margin of about 66%. The outlook still implies substantial growth, but management did not provide an EPS forecast in the reported guidance.
• Negative Sentiment: The fourth-quarter revenue forecast was below Wall Street expectations of roughly $35.0 billion to $35.03 billion. Investors viewed the shortfall as a sign that competition or execution risks could limit further gains from custom AI processors, particularly after the stock’s strong run and premium valuation. Reuters report on Broadcom guidance
• Negative Sentiment: Broadcom’s elevated valuation—approximately 61 times earnings—left little room for a merely solid outlook. Recent insider activity was also heavily weighted toward selling, although this is a secondary consideration compared with the earnings guidance.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source