Sax Wealth Advisors LLC Buys 43,747 Shares of Broadcom Inc. $AVGO

Key Points

• Sax Wealth Advisors increased its Broadcom position by 353.8% in the third quarter, acquiring 43,747 additional shares and bringing its total holdings to 56,112 shares valued at approximately $19.7 million.
• Institutional investors own 76.43% of Broadcom, while analysts maintain a largely bullish outlook with a “Moderate Buy” consensus rating and an average price target of $527.20.
• Broadcom reported quarterly revenue of $29.59 billion and adjusted EPS of $3.32, beating estimates, with revenue rising 85.5% year over year. The company also announced a quarterly dividend of $0.65 per share, although the stock was trading below its 50-day and 200-day moving averages.

Sax Wealth Advisors LLC raised its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 353.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,112 shares of the semiconductor manufacturer's stock after acquiring an additional 43,747 shares during the period. Sax Wealth Advisors LLC's holdings in Broadcom were worth $19,706,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Cornerstone Advisors LLC acquired a new position in shares of Broadcom in the 2nd quarter valued at $92,522,000. GAMMA Investing LLC increased its stake in Broadcom by 8.8% in the 3rd quarter. GAMMA Investing LLC now owns 164,015 shares of the semiconductor manufacturer's stock valued at $55,889,000 after buying an additional 13,317 shares during the period. ANB Bank purchased a new stake in Broadcom in the 3rd quarter worth approximately $1,181,000. Bank of America Corp DE increased its stake in shares of Broadcom by 1.5% in the first 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 during the last quarter. Finally, Clear Harbor Asset Management LLC purchased a new stake in shares of Broadcom during the second quarter worth $3,302,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on AVGO shares. Piper Sandler initiated coverage on Broadcom in a report on Wednesday, September 9th. They issued an "overweight" rating and a $460.00 price objective on the stock. BMO Capital Markets lifted their price objective on shares of Broadcom from $455.00 to $575.00 and gave the company an "outperform" rating in a research note on Thursday, September 3rd. HSBC lowered their target price on shares of Broadcom from $600.00 to $560.00 and set a "buy" rating on the stock in a research report on Thursday, September 3rd. Citic Securities upgraded Broadcom to a "buy" rating and upped their price target for the stock from $450.00 to $525.00 in a research note on Tuesday, September 8th. Finally, Jefferies Financial Group assumed coverage on Broadcom in a research report on Thursday, September 3rd. They set a "buy" rating and a $550.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, thirty-seven have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $527.20.

Broadcom Stock Performance

Shares of AVGO traded up $0.60 on Tuesday, reaching $355.33. 7,137,445 shares of the stock traded hands, compared to its average volume of 24,948,852. The firm has a market cap of $1.70 trillion, a price-to-earnings ratio of 45.40 and a beta of 1.46. Broadcom Inc. has a 12 month low of $289.96 and a 12 month high of $495.00. The stock's 50-day moving average price is $370.49 and its 200-day moving average price is $383.05. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.29.

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

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st were issued a $0.65 dividend. The ex-dividend date of this dividend was Monday, September 21st. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. Broadcom's dividend payout ratio is presently 33.21%.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: CEO Hock Tan raised Broadcom’s AI revenue outlook while arguing that the company’s custom-chip business is supported by multiyear hyperscaler commitments. The comments reinforce expectations for sustained growth beyond Nvidia’s general-purpose GPU market. Broadcom CEO Just Compared AI Investors to Gamblers Broadcom Is Building an AI Business Unlike Nvidia’s
• Positive Sentiment: Analysts and financial commentary continue to highlight rapidly growing AI revenue, dividend support and Broadcom’s strategic position as a supplier of custom accelerators and networking infrastructure for large technology customers. Broadcom’s AI Revenue Is Tripling, but the Stock Has Lagged 3 Dividend Paying Stocks Offering AI Exposure
• Positive Sentiment: Broadcom introduced VMware HyperArmor, a security product for VMware Cloud Foundation designed to protect the ESX hypervisor without disrupting workloads. The launch could strengthen its infrastructure-software portfolio and support VMware cross-selling. Broadcom Introduces VMware HyperArmor
• Neutral Sentiment: Broadcom’s fundamentals remain strong, but technical indicators are weaker: the stock has fallen substantially from its record high and trades below its 50-day and 200-day moving averages. This divergence leaves investors focused on whether earnings growth can overcome valuation and momentum concerns. Broadcom Stock Analysis as Fundamentals and Technicals Diverge
• Negative Sentiment: Tan’s warning that capital—not memory chips—could become the biggest constraint on AI expansion raises concerns about data-center financing, customer spending and the sustainability of the current infrastructure boom. His comparison of AI investors to casino gamblers also highlighted speculative sentiment around the sector. Intel and Broadcom CEOs Warn Capital Crunch Could Become AI Bottleneck Broadcom CEO Compares AI Investors to Gamblers
• Negative Sentiment: Reports questioning Broadcom’s AI-related financing, including a proposed $42 billion arrangement involving Anthropic, are adding balance-sheet and counterparty-risk concerns as investors assess whether AI growth is becoming too debt-dependent. How Broadcom’s $42 Billion Loan to Anthropic Is a Bet on a $2 Trillion IPO

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 wired and wireless communications, data center networking, broadband access, storage, industrial applications, and other markets.

The company's semiconductor portfolio includes networking and switching products, custom application-specific integrated circuits, wireless connectivity components, radio-frequency devices, optical components, and storage-related solutions.

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