Haverford Trust Co Makes New $125.60 Million Investment in Broadcom Inc. $AVGO

Key Points

• Haverford Trust Co. bought 332,484 Broadcom shares worth approximately $125.6 million in the second quarter, making AVGO 1.1% of its portfolio and its 25th-largest holding. Institutional investors collectively own 76.43% of Broadcom.
• Broadcom reported strong fiscal third-quarter results, with revenue up 85.5% year over year to $29.59 billion and non-GAAP EPS of $3.32, while AI semiconductor revenue surged 221% to $16.7 billion.
• The company forecast fourth-quarter revenue of about $34.8 billion, slightly below analyst expectations, raising concerns given Broadcom’s approximately 61-times earnings valuation. Despite the guidance shortfall, analysts maintain a consensus “Moderate Buy” rating with an average price target of $491.97.

Haverford Trust Co bought a new stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 332,484 shares of the semiconductor manufacturer's stock, valued at approximately $125,596,000. Broadcom accounts for 1.1% of Haverford Trust Co's holdings, making the stock its 25th largest holding.

A number of other hedge funds have also recently modified their holdings of AVGO. State Street Corp lifted its position in shares of Broadcom by 2.7% during the fourth quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer's stock worth $65,788,194,000 after purchasing an additional 5,040,801 shares during the last quarter. Geode Capital Management LLC increased its holdings 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 purchasing an additional 1,548,699 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Broadcom by 3.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 85,546,083 shares of the semiconductor manufacturer's stock valued at $29,607,500,000 after acquiring an additional 2,491,644 shares in the last quarter. Norges Bank purchased a new stake in Broadcom in the fourth quarter worth about $24,252,196,000. Finally, Bank of America Corp DE grew its holdings in Broadcom by 1.5% during the 1st quarter. Bank of America Corp DE now owns 58,737,097 shares of the semiconductor manufacturer's stock worth $18,179,719,000 after acquiring an additional 894,564 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

More 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.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AVGO. Royal Bank Of Canada restated a "sector perform" rating and issued a $400.00 price target on shares of Broadcom in a report on Wednesday, August 26th. Jefferies Financial Group set a $550.00 price objective on shares of Broadcom and gave the company a "buy" rating in a report on Thursday, June 4th. BMO Capital Markets started coverage on shares of Broadcom in a research note on Thursday, August 20th. They issued an "outperform" rating and a $455.00 price objective for the company. Wells Fargo & Company restated an "overweight" rating and set a $545.00 target price (up from $430.00) on shares of Broadcom in a report on Thursday, May 14th. Finally, KeyCorp reaffirmed an "overweight" rating and set a $575.00 target price (up from $500.00) on shares of Broadcom in a research report on Thursday, June 4th. Twenty-nine analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $491.97.

Broadcom Stock Down 0.7%

NASDAQ:AVGO opened at $367.24 on Thursday. The company has a current ratio of 2.24, a quick ratio of 2.01 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. The company has a market cap of $1.75 trillion, a PE ratio of 61.21, a P/E/G ratio of 0.71 and a beta of 1.44. The company's 50 day moving average is $384.15 and its two-hundred day moving average is $377.14.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 EPS for the quarter, topping the consensus estimate of $3.22 by $0.10. The business had revenue of $29.59 billion during the quarter, compared to the consensus estimate of $29.24 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The business's revenue for the quarter was up 85.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.69 earnings per share. Analysts anticipate that Broadcom Inc. will post 10.24 EPS for the current year.

Insider Transactions at Broadcom

In other Broadcom news, Director Justine Page sold 1,602 shares of the business's stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $373.86, for a total transaction of $598,923.72. Following the sale, the director owned 17,426 shares in the company, valued at approximately $6,514,884.36. The trade was a 8.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Harry L. You acquired 1,000 shares of Broadcom stock in a transaction dated Thursday, June 11th. The stock was purchased at an average price of $373.57 per share, with a total value of $373,570.00. Following the completion of the purchase, the director owned 38,466 shares of the company's stock, valued at approximately $14,369,743.62. The trade was a 2.67% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders sold 61,644 shares of company stock worth $24,016,214. 1.90% of the stock is owned by insiders.

About Broadcom

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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