Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Purchases 123,677 Shares of Broadcom Inc. $AVGO

Key Points

• Loring Wolcott & Coolidge Fiduciary Advisors increased its Broadcom stake by 173.8% in the third quarter, adding 123,677 shares for a total of 194,833 shares valued at approximately $68.4 million.
• Institutional ownership remains substantial, with hedge funds and institutions holding 76.43% of Broadcom’s shares; major holders including State Street, Bank of America and Wellington also expanded their positions.
• Analysts maintain a bullish outlook, with Broadcom receiving a consensus “Moderate Buy” rating and an average price target of $530.52, despite the stock trading below its recent high and concerns over valuation and AI-related spending risks.

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 173.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 194,833 shares of the semiconductor manufacturer's stock after buying an additional 123,677 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA's holdings in Broadcom were worth $68,423,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp boosted its holdings in Broadcom by 8.7% in 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 acquiring an additional 16,651,378 shares during the last quarter. Bank of America Corp DE increased its position in Broadcom by 4.6% in the second quarter. Bank of America Corp DE now owns 61,423,013 shares of the semiconductor manufacturer's stock worth $23,202,543,000 after purchasing an additional 2,685,916 shares during the period. Wellington Management Group LLP increased its position in Broadcom by 3.8% in the second quarter. Wellington Management Group LLP now owns 51,580,703 shares of the semiconductor manufacturer's stock worth $19,484,611,000 after purchasing an additional 1,892,721 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Broadcom by 2.9% during 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 worth $15,178,195,000 after purchasing an additional 1,140,598 shares during the last quarter. Finally, Legal & General Group Plc bought a new stake in Broadcom during the 2nd quarter worth about $11,998,148,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AVGO has been the topic of several recent research reports. HSBC reduced their target price on shares of Broadcom from $600.00 to $560.00 and set a "buy" rating on the stock in a research note on Thursday, September 3rd. TD Cowen reissued a "buy" rating and set a $475.00 price target (down from $500.00) on shares of Broadcom in a research note on Thursday, September 3rd. The Goldman Sachs Group increased their price objective on shares of Broadcom from $525.00 to $540.00 and gave the company a "buy" rating in a report on Thursday, September 3rd. Arete Research raised their price objective on shares of Broadcom from $488.00 to $530.00 and gave the company a "buy" rating in a research note on Tuesday, July 21st. Finally, Evercore set a $578.00 price objective on shares of Broadcom and gave the company an "outperform" rating in a research note on Thursday, September 3rd. One analyst has rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $530.52.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Analysts remain constructive: DA Davidson upgraded Broadcom to “Buy,” while Rosenblatt reaffirmed its Buy rating. The upgrades cite the company’s AI semiconductor momentum and long-term growth outlook. DA Davidson Upgrades Broadcom to Buy
• Positive Sentiment: Broadcom’s custom-chip opportunity continues to expand. One bullish outlook points to projected AI semiconductor revenue of approximately $115 billion in fiscal 2027 and $230 billion in fiscal 2028, supported by rising data-center and accelerator demand. The AI Boom Isn’t Over: 3 Stocks You Need to Watch
• Positive Sentiment: Meta’s planned AI financing and potential investment by major chip suppliers could support additional orders for Broadcom as Meta expands its data-center capacity. Why Meta’s $100 Billion Financing Plan Is a Boon for Broadcom
• Neutral Sentiment: The stock’s pullback from its record high has prompted some investors to view Broadcom as a more attractive entry point, although valuation remains dependent on continued exceptional AI growth. Broadcom: This Is Probably a Good Entry Point
• Negative Sentiment: The $63 billion Anthropic financing arrangement is raising concern about asset and credit risk. A special-purpose vehicle would purchase and lease Broadcom hardware, while Broadcom’s potential backstop exposure could reach roughly $43 billion if financing or asset values deteriorate. Broadcom’s Anthropic Deal and Potential Backstop
• Negative Sentiment: Broader concerns about AI spending are also weighing on sentiment. Rising interest rates, heavy borrowing for data centers and doubts about returns on massive capital expenditures could compress richly valued semiconductor stocks. Why Rising Rates Could Break the Bull Market

Broadcom Trading Down 1.9%

NASDAQ AVGO opened at $345.00 on Friday. Broadcom Inc. has a 12 month low of $289.96 and a 12 month high of $495.00. The stock has a 50-day simple moving average of $353.57 and a 200 day simple moving average of $367.09. 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 company has a market capitalization of $1.65 trillion, a PE ratio of 44.06 and a beta of 1.46.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.22 by $0.10. The firm had revenue of $29.59 billion for the quarter, compared to analysts' expectations of $29.24 billion. Broadcom had a return on equity of 48.33% and a net margin of 42.94%. The company's revenue was up 85.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.69 earnings per share. Research analysts forecast that Broadcom Inc. will post 10.37 EPS for the current year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Monday, September 21st were given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Monday, September 21st. Broadcom's dividend payout ratio (DPR) is currently 33.21%.

Broadcom Profile

Broadcom Inc NASDAQ: AVGO is a global technology company that designs, develops and supplies semiconductor and infrastructure software products. Its semiconductor solutions support data center, networking, broadband, wireless communications, storage, industrial and other electronic applications.

The company's semiconductor portfolio includes networking and switching components, custom accelerators, connectivity and wireless devices, broadband equipment, optical products, storage controllers and related infrastructure technologies.

Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc. (NASDAQ:AVGO - Free Report).

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.