Woodley Farra Manion Portfolio Management Inc. Sells 9,595 Shares of Broadcom Inc. $AVGO

Key Points

• Woodley Farra Manion Portfolio Management cut its Broadcom stake by 3.8%, selling 9,595 shares in the third quarter. It still held 243,614 shares worth about $85.6 million, making Broadcom its fourth-largest portfolio position.
• Analyst sentiment remains broadly positive: 39 analysts rate the stock Buy and five Hold, with a “Moderate Buy” consensus and an average price target of $530.52.
• Broadcom reported quarterly EPS of $3.32, topping the $3.22 estimate, while revenue rose 85.5% year over year to $29.59 billion. The article also flags customer concentration as a risk, with five major customers accounting for about 55% of recent-quarter revenue.

Woodley Farra Manion Portfolio Management Inc. decreased its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 243,614 shares of the semiconductor manufacturer's stock after selling 9,595 shares during the period. Broadcom comprises 4.3% of Woodley Farra Manion Portfolio Management Inc.'s investment portfolio, making the stock its 4th biggest position. Woodley Farra Manion Portfolio Management Inc.'s holdings in Broadcom were worth $85,555,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Legal & General Group Plc acquired a new stake in shares of Broadcom during the 2nd quarter valued at about $11,998,148,000. Bank of New York Mellon Corp purchased a new position in shares of Broadcom in the 2nd quarter valued at about $10,528,191,000. Jupiter Topco LLC acquired a new position in Broadcom in the 2nd quarter worth about $7,396,271,000. State Street Corp raised its holdings in Broadcom by 8.7% in the 2nd quarter. State Street Corp now owns 208,031,610 shares of the semiconductor manufacturer's stock worth $75,367,711,000 after purchasing an additional 16,651,378 shares during the period. Finally, Deutsche Bank AG purchased a new position in Broadcom during the second quarter worth approximately $5,661,216,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on AVGO. Lake Street Capital raised Broadcom to a "buy" rating in a report on Thursday, September 3rd. Fox Advisors raised Broadcom to an "outperform" rating in a research note on Thursday, September 3rd. KeyCorp reaffirmed an "overweight" rating and set a $575.00 target price on shares of Broadcom in a research note on Thursday, September 3rd. HC Wainwright initiated coverage on Broadcom in a research report on Tuesday, October 27th. They set a "buy" rating on the stock. Finally, Evercore set a $578.00 price target on shares of Broadcom and gave the company an "outperform" rating in a research note on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $530.52.

Broadcom News Roundup

Here's some of the latest news about AVGO:

• Positive Sentiment: Industry spending remains a supportive backdrop: analyst estimates for hyperscaler capital expenditures have risen sharply, suggesting continued investment in AI infrastructure that could underpin demand for Broadcom’s custom chips and related systems. Great News for Nvidia, Micron, Broadcom, and AMD Stock Investors
• Neutral Sentiment: Broadcom’s AI opportunity comes with customer-concentration risk: its five largest customers reportedly accounted for about 55% of recent-quarter revenue. Anthropic is expected to become its largest custom AI-chip customer in 2027, which could deepen reliance on a few major buyers. Broadcom’s customer concentration risk
• Negative Sentiment: Potentially tighter U.S. export controls and hardware-tracking rules could add compliance costs and delay international AI deployments. Such restrictions may affect Broadcom and other semiconductor suppliers, even if demand for AI infrastructure remains strong. Midterm Fallout, NVIDIA Turmoil, Anthropic’s IPO: Is Broadcom a Steal?

Broadcom Price Performance

Shares of Broadcom stock opened at $364.36 on Friday. The business has a 50 day simple moving average of $345.59 and a two-hundred day simple moving average of $366.48. Broadcom Inc. has a 12 month low of $289.77 and a 12 month high of $495.00. The stock has a market capitalization of $1.74 trillion, a P/E ratio of 46.53 and a beta of 1.49. 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 earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $29.24 billion. During the same quarter last year, the business posted $1.69 earnings per share. The business's quarterly revenue was up 85.5% compared to the same quarter last year. As a group, analysts predict that Broadcom Inc. will post 10.20 EPS for the current fiscal year.

Broadcom Dividend Announcement

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

About Broadcom

Broadcom Inc. is a global technology company that designs and supplies semiconductor products and infrastructure software. Its semiconductor portfolio includes chips and components used in networking, broadband communications, wireless connectivity, data storage, and industrial applications. The company serves businesses across a range of industries, including communications, enterprise technology, and consumer electronics. Broadcom also provides infrastructure software, including products for virtualization, cloud computing, cybersecurity, and enterprise operations.

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