GQG Partners LLC Acquires New Stake in Broadcom Inc. $AVGO

Key Points

• GQG Partners acquired 372,865 Broadcom shares in the second quarter, valued at approximately $140.85 million. Institutional investors and hedge funds collectively own 76.43% of the company.
• Broadcom reported strong quarterly results, with revenue rising 85.5% year over year to $29.59 billion and EPS of $3.32 exceeding estimates. AI semiconductor revenue surged 221% to $16.7 billion.
• Analysts maintain a positive outlook, with 29 Buy ratings and four Holds, producing a consensus “Moderate Buy” rating and average price target of $491.97. However, the company’s fourth-quarter revenue forecast came in slightly below Wall Street expectations, while insiders have been net sellers.

GQG Partners LLC bought a new stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 372,865 shares of the semiconductor manufacturer's stock, valued at approximately $140,850,000.

Other institutional investors also recently bought and sold shares of the company. State Street Corp boosted its stake in shares of Broadcom by 2.7% in the fourth quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer's stock valued at $65,788,194,000 after purchasing an additional 5,040,801 shares during the period. Geode Capital Management LLC increased its stake in Broadcom by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 111,277,280 shares of the semiconductor manufacturer's stock worth $38,396,634,000 after buying an additional 1,548,699 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Broadcom by 3.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 85,546,083 shares of the semiconductor manufacturer's stock worth $29,607,500,000 after buying an additional 2,491,644 shares in the last quarter. Norges Bank purchased a new position in Broadcom in the 4th quarter valued at approximately $24,252,196,000. Finally, Bank of America Corp DE boosted its position in Broadcom by 1.5% in the 1st 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 period. 76.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AVGO has been the topic of several analyst reports. JPMorgan Chase & Co. increased their price objective on Broadcom from $500.00 to $580.00 and gave the company an "overweight" rating in a research note on Thursday, June 4th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $545.00 price target (up from $430.00) on shares of Broadcom in a research report on Thursday, May 14th. Benchmark lifted their price objective on Broadcom from $485.00 to $545.00 and gave the company a "buy" rating in a research note on Thursday, June 4th. Truist Financial boosted their price objective on Broadcom from $545.00 to $550.00 and gave the stock a "buy" rating in a research report on Thursday, June 4th. Finally, DA Davidson raised their target price on shares of Broadcom from $375.00 to $400.00 and gave the company a "neutral" rating in a report on Thursday, June 4th. Twenty-nine research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Broadcom presently has a consensus rating of "Moderate Buy" and an average target price of $491.97.

Broadcom Price Performance

AVGO stock opened at $367.24 on Thursday. The business has a 50 day moving average price of $384.15 and a 200 day moving average price of $377.14. The stock 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. Broadcom Inc. has a fifty-two week low of $289.96 and a fifty-two week high of $495.00. 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 (NASDAQ:AVGO - Get Free Report) last announced 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 38.85% and a return on equity of 41.61%. 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 firm posted $1.69 earnings per share. The firm's revenue was up 85.5% on a year-over-year basis. Equities research analysts anticipate that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Insider Activity at Broadcom

In related news, insider Mark David Brazeal sold 25,000 shares of the business's stock in a transaction on Friday, July 10th. The shares were sold at an average price of $401.33, for a total value of $10,033,250.00. Following the completion of the sale, the insider directly owned 194,989 shares of the company's stock, valued at $78,254,935.37. The trade was a 11.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Justine Page sold 1,602 shares of the company's stock in a transaction on Monday, June 29th. The shares were sold at an average price of $373.86, for a total transaction of $598,923.72. Following the completion of the transaction, the director owned 17,426 shares of the company's stock, valued at $6,514,884.36. This represents a 8.42% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 61,644 shares of company stock worth $24,016,214. Corporate insiders own 1.90% of the company's stock.

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 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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