Broadcom Inc. $AVGO Stake Raised by Wedbush Securities Inc.

Wedbush Securities Inc. increased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 6.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 87,460 shares of the semiconductor manufacturer’s stock after purchasing an additional 5,177 shares during the period. Broadcom makes up about 0.8% of Wedbush Securities Inc.’s investment portfolio, making the stock its 16th largest position. Wedbush Securities Inc.’s holdings in Broadcom were worth $30,715,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of AVGO. State Street Corp increased its holdings in shares of 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 buying an additional 16,651,378 shares during the last quarter. Bank of America Corp DE raised its position in shares of Broadcom by 4.6% during the 2nd quarter. Bank of America Corp DE now owns 61,423,013 shares of the semiconductor manufacturer’s stock valued at $23,202,543,000 after buying an additional 2,685,916 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Broadcom by 3.8% in the 2nd quarter. Wellington Management Group LLP now owns 51,580,703 shares of the semiconductor manufacturer’s stock valued at $19,484,611,000 after acquiring an additional 1,892,721 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Broadcom by 2.9% in 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 valued at $15,178,195,000 after acquiring an additional 1,140,598 shares during the last quarter. Finally, Legal & General Group Plc purchased a new position in Broadcom in the second quarter worth about $11,998,148,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: A consortium including Bank of America, Blackstone, Citigroup and Morgan Stanley reportedly arranged up to $63 billion to finance Broadcom AI accelerators and networking equipment for Anthropic. The structure could provide significant demand visibility, while Truist estimates the arrangement could generate as much as $30 billion in Broadcom revenue with limited direct risk. Broadcom Anthropic financing article
• Positive Sentiment: Anthropic’s IPO filing highlighted approximately $224.5 billion of non-cancelable compute commitments with Amazon and Alphabet. Investors viewed the spending requirements as an indirect tailwind for Broadcom’s custom AI chips, application-specific processors and networking products. Anthropic IPO filing article
• Positive Sentiment: D.A. Davidson upgraded AVGO from Neutral to Buy and raised its price target from $350 to $400, citing sustained AI spending and upcoming AI-company IPOs. Rosenblatt also reaffirmed a Buy rating with a $600 target. D.A. Davidson upgrade article
• Positive Sentiment: Fitch affirmed Broadcom’s A- issuer rating with a Positive outlook, citing strong cash generation and expectations that core EBITDA leverage will remain below the agency’s upgrade threshold. Fitch rating article
• Neutral Sentiment: Broadcom released fixes for 89 vulnerabilities in its TrueSource Spring Enterprise software, supporting its infrastructure-software business and customer relationships, though the announcement is unlikely to materially affect near-term earnings. Broadcom TrueSource announcement
• Negative Sentiment: Bearish concerns remain: rising AI mix may pressure margins, supply constraints could limit growth, and revenue is increasingly concentrated among a small number of customers. Analysts have also cut estimates, while Broadcom’s uncapped off-balance-sheet guarantees create additional financing and execution risk. Broadcom risk analysis
• Negative Sentiment: Alphabet’s efforts to diversify TPU suppliers, along with weakness in Broadcom’s non-AI businesses, could challenge the company’s long-term customer concentration and valuation assumptions. Reported insider activity has also been heavily weighted toward sales, adding a modest sentiment headwind.

Broadcom Stock Up 4.0%

AVGO opened at $342.33 on Wednesday. The stock’s 50 day moving average price is $354.48 and its 200-day moving average price is $366.99. Broadcom Inc. has a one year low of $289.96 and a one year high of $495.00.

Broadcom (NASDAQ:AVGO) last issued its quarterly 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 business had revenue of $29.59 billion for the quarter, compared to the consensus estimate of $29.24 billion. During the same period in the prior year, the business posted $1.69 earnings per share. Broadcom’s revenue was up 85.5% on a year-over-year basis. Equities analysts forecast that Broadcom Inc. will post 10.37 earnings per share for the current year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st were given a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Monday, September 21st.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Citigroup cut Broadcom from a “buy” rating to a “neutral” rating in a research note on Tuesday. Raymond James Financial reaffirmed an “outperform” rating and issued a $475.00 price objective (up from $450.00) on shares of Broadcom in a research note on Thursday, September 3rd. Wedbush initiated coverage on Broadcom in a research note on Tuesday. They issued an “outperform” rating for the company. TD Cowen reiterated a “buy” rating and issued a $475.00 target price (down from $500.00) on shares of Broadcom in a report on Thursday, September 3rd. Finally, Bank of America cut their target price on Broadcom from $530.00 to $460.00 and set a “buy” rating on the stock in a research report on Thursday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $530.52.

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.