Sterling Capital Management LLC Purchases 53,111 Shares of Broadcom Inc. $AVGO

Sterling Capital Management LLC lifted its position in Broadcom Inc. (NASDAQ:AVGO) by 32.4% in the third quarter, Holdings Channel reports. The firm owned 217,216 shares of the semiconductor manufacturer’s stock after buying an additional 53,111 shares during the period. Broadcom accounts for 1.5% of Sterling Capital Management LLC’s investment portfolio, making the stock its 6th largest holding. Sterling Capital Management LLC’s holdings in Broadcom were worth $76,284,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of AVGO. Opulen Financial Group LLC increased its position in Broadcom by 4.8% during the 3rd quarter. Opulen Financial Group LLC now owns 1,638 shares of the semiconductor manufacturer’s stock valued at $575,000 after purchasing an additional 75 shares during the period. TSA Wealth Managment LLC raised its holdings in shares of Broadcom by 30.2% in the 3rd quarter. TSA Wealth Managment LLC now owns 1,998 shares of the semiconductor manufacturer’s stock valued at $702,000 after purchasing an additional 464 shares in the last quarter. XXI Wealth LLC lifted its position in shares of Broadcom by 14.5% in the 3rd quarter. XXI Wealth LLC now owns 8,440 shares of the semiconductor manufacturer’s stock worth $2,964,000 after purchasing an additional 1,067 shares during the period. BIP Wealth LLC lifted its position in shares of Broadcom by 5.6% in the 3rd quarter. BIP Wealth LLC now owns 13,354 shares of the semiconductor manufacturer’s stock worth $4,690,000 after purchasing an additional 712 shares during the period. Finally, River Street Advisors LLC lifted its position in shares of Broadcom by 4.0% in the 3rd quarter. River Street Advisors LLC now owns 23,157 shares of the semiconductor manufacturer’s stock worth $8,132,000 after purchasing an additional 887 shares during the period. Institutional investors own 76.43% of the company’s stock.

Broadcom News Roundup

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 Trading Up 4.0%

Shares of Broadcom stock opened at $342.33 on Wednesday. The company has a 50-day simple moving average of $354.48 and a two-hundred day simple moving average of $366.99. Broadcom Inc. has a one year low of $289.96 and a one year high of $495.00.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 EPS for the quarter, beating the consensus estimate of $3.22 by $0.10. The firm had revenue of $29.59 billion for the quarter, compared to analysts’ expectations of $29.24 billion. During the same period in the previous year, the company 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, sell-side analysts anticipate that Broadcom Inc. will post 10.37 earnings per share for the current year.

Broadcom Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on AVGO shares. BMO Capital Markets increased 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. Bank of America reduced their price objective on shares of Broadcom from $530.00 to $460.00 and set a “buy” rating for the company in a research note on Thursday, September 3rd. Arete Research boosted their price objective on shares of Broadcom from $488.00 to $530.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Citigroup lowered Broadcom from a “buy” rating to a “neutral” rating in a report on Tuesday. Finally, Evercore set a $578.00 target price on Broadcom and gave the company an “outperform” rating in a research report on Thursday, September 3rd. One analyst has rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $530.52.

Broadcom Company 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.