NBT Bank N.A. Makes New Investment in Broadcom Inc. $AVGO

Key Points

• NBT Bank acquired 16,877 Broadcom shares during the third quarter, worth approximately $5.93 million. Institutional investors collectively own 76.43% of AVGO.
• Broadcom reported quarterly EPS of $3.32, exceeding the $3.22 consensus estimate, while revenue rose 85.5% year over year to $29.59 billion. The company also declared a quarterly dividend of $0.65 per share, implying a 0.8% annual yield.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $529.17, although risks include Alphabet diversifying its AI-chip suppliers, increased competition and broader weakness in AI stocks.

NBT Bank N.A. acquired a new position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 16,877 shares of the semiconductor manufacturer's stock, valued at approximately $5,927,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AVGO. Networth Advisors LLC raised its position in shares of Broadcom by 546.2% during the first quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer's stock worth $26,000 after purchasing an additional 71 shares during the period. Core Capital Management & Research inc. bought a new position in shares of Broadcom during the 2nd quarter valued at about $31,000. Harborfront Financial Group LLC bought a new position in shares of Broadcom during the 2nd quarter valued at about $38,000. Align Financial LLC lifted its holdings in shares of Broadcom by 67.2% during the 3rd quarter. Align Financial LLC now owns 112 shares of the semiconductor manufacturer's stock valued at $38,000 after purchasing an additional 45 shares in the last quarter. Finally, IMG Wealth Management Inc. acquired a new position in shares of Broadcom in the 2nd quarter valued at approximately $64,000. 76.43% of the stock is currently owned by institutional investors.

Broadcom Price Performance

AVGO stock opened at $321.68 on Monday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.29. The stock has a market capitalization of $1.54 trillion, a P/E ratio of 41.08 and a beta of 1.46. The business has a 50-day moving average of $356.05 and a 200-day moving average of $384.74. Broadcom Inc. has a fifty-two week low of $289.96 and a fifty-two week high of $495.00.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data 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. Broadcom had a return on equity of 48.33% and a net margin of 42.94%. The business had revenue of $29.59 billion during the quarter, compared to the consensus estimate of $29.24 billion. During the same period last year, the company earned $1.69 earnings per share. Broadcom's quarterly revenue was up 85.5% on a year-over-year basis. On average, sell-side analysts anticipate that Broadcom Inc. will post 10.37 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

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

Analyst Ratings Changes

AVGO has been the subject of a number of research reports. DA Davidson set a $350.00 target price on Broadcom and gave the stock a "neutral" rating in a research note on Friday, September 4th. Cantor Fitzgerald raised their target price on shares of Broadcom from $525.00 to $600.00 and gave the stock an "overweight" rating in a report on Thursday, September 3rd. Bank of America cut their price target on shares of Broadcom from $530.00 to $460.00 and set a "buy" rating on the stock in a research note on Thursday, September 3rd. Weiss Ratings upgraded shares of Broadcom from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, October 8th. Finally, Tigress Financial began coverage on shares of Broadcom in a research report on Thursday. They set a "buy" rating and a $600.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $529.17.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: ETF investors bought approximately $89.8 million of Broadcom shares on October 21, signaling continued institutional demand. Broadcom Sees $89.8 Million in Net ETF Buying
• Positive Sentiment: Analysts continue to highlight Broadcom’s leadership in custom AI accelerators. Demand from major AI labs and hyperscalers, including Anthropic, OpenAI and Meta, supports management’s ambitious long-term AI semiconductor growth outlook. 3 Magnificent AI Chip Stocks
• Positive Sentiment: Tigress Financial initiated coverage with a Buy rating and a $600 price target, implying substantial upside from recent trading levels. Tigress Financial Broadcom Coverage
• Positive Sentiment: Broadcom launched Arcot Scam Defense, a real-time fraud-detection feature for digital payments. Strong initial pilot results could create incremental growth for its software and security businesses. Broadcom Debuts Arcot Scam Defense
• Neutral Sentiment: Broadcom remains the leading custom-chip design partner, but Alphabet is diversifying its TPU suppliers. Although Broadcom may lose market share, the overall AI accelerator market is expected to expand rapidly, potentially offsetting that loss. Broadcom AI Chip Business Risks
• Negative Sentiment: Investors are worried that customer-owned chip design and increased competition from MediaTek could reduce Broadcom’s role and margins in future AI programs. Alphabet’s supplier diversification is the clearest near-term risk. Broadcom AI Chip Business Risks
• Negative Sentiment: The broader market sell-off is weighing on AI stocks amid higher oil prices, inflation concerns and questions about whether massive data-center investments will generate sufficient returns. Technical commentary identifies the $320 area as an important support test. Broadcom Faces Critical $320 Test

About Broadcom

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.

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