Westpac Banking Corp Acquires New Shares in Broadcom Inc. $AVGO

Westpac Banking Corp acquired a new position in Broadcom Inc. (NASDAQ:AVGO) in the 2nd quarter, Holdings Channel reports. The firm acquired 123,873 shares of the semiconductor manufacturer’s stock, valued at approximately $46,793,000. Broadcom comprises 2.9% of Westpac Banking Corp’s investment portfolio, making the stock its 6th biggest position.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AVGO. State Street Corp lifted its stake in shares of Broadcom by 2.7% in the 4th quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer’s stock valued at $65,788,194,000 after purchasing an additional 5,040,801 shares during the last quarter. Geode Capital Management LLC increased its position in shares of 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 last quarter. Price T Rowe Associates Inc. MD raised its holdings in Broadcom by 3.0% in the 4th 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 buying an additional 2,491,644 shares during the period. Norges Bank purchased a new stake in Broadcom in the 4th quarter valued at about $24,252,196,000. Finally, Bank of America Corp DE lifted its position in 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 valued at $18,179,719,000 after buying an additional 894,564 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Key Stories Impacting Broadcom

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.

Broadcom Stock Down 0.7%

Shares of NASDAQ:AVGO opened at $367.24 on Thursday. The firm has a market capitalization of $1.75 trillion, a PE ratio of 61.21, a price-to-earnings-growth ratio of 0.71 and a beta of 1.44. Broadcom Inc. has a 1 year low of $289.96 and a 1 year high of $495.00. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01. The firm’s 50-day moving average is $384.15 and its two-hundred day moving average is $377.14.

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

Analyst Upgrades and Downgrades

AVGO has been the subject of several research analyst reports. Erste Group Bank reaffirmed a “hold” rating on shares of Broadcom in a research note on Tuesday, July 7th. DA Davidson upped their price objective on shares of Broadcom from $375.00 to $400.00 and gave the stock a “neutral” rating in a report on Thursday, June 4th. Dbs Bank raised shares of Broadcom to a “moderate buy” rating in a research report on Thursday, June 18th. Rosenblatt Securities reiterated a “buy” rating and issued a $500.00 target price on shares of Broadcom in a report on Thursday, June 4th. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $400.00 price target on shares of Broadcom in a research note on Wednesday, August 26th. Twenty-nine investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $491.97.

Insider Buying and Selling at Broadcom

In other news, Director Gayla J. Delly sold 1,890 shares of the stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $385.38, for a total value of $728,368.20. Following the sale, the director directly owned 31,326 shares in the company, valued at approximately $12,072,413.88. This trade represents a 5.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Justine Page sold 1,602 shares of Broadcom stock in a transaction on Monday, June 29th. The shares were sold at an average price of $373.86, for a total value of $598,923.72. Following the completion of the transaction, the director owned 17,426 shares of the company’s stock, valued at approximately $6,514,884.36. This trade represents a 8.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 61,644 shares of company stock worth $24,016,214. 1.90% of the stock is currently owned by insiders.

Broadcom Company Profile

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.