Broadcom Inc. $AVGO Stake Increased by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 6.4% during the third quarter, HoldingsChannel.com reports. The firm owned 66,747 shares of the semiconductor manufacturer’s stock after acquiring an additional 4,000 shares during the quarter. Broadcom makes up about 1.0% of Verdence Capital Advisors LLC’s holdings, making the stock its 19th biggest holding. Verdence Capital Advisors LLC’s holdings in Broadcom were worth $23,441,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in AVGO. State Street Corp lifted its position in shares of Broadcom by 8.7% during the 2nd quarter. State Street Corp now owns 208,031,610 shares of the semiconductor manufacturer’s stock valued at $75,367,711,000 after acquiring an additional 16,651,378 shares during the period. Bank of America Corp DE increased its position in shares of Broadcom by 4.6% in the second quarter. Bank of America Corp DE now owns 61,423,013 shares of the semiconductor manufacturer’s stock worth $23,202,543,000 after purchasing an additional 2,685,916 shares during the period. Wellington Management Group LLP increased its position in shares of Broadcom by 3.8% in the second quarter. Wellington Management Group LLP now owns 51,580,703 shares of the semiconductor manufacturer’s stock worth $19,484,611,000 after purchasing an additional 1,892,721 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Broadcom by 2.9% in the second 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 worth $15,178,195,000 after purchasing an additional 1,140,598 shares during the period. Finally, Legal & General Group Plc acquired a new position in Broadcom in the second quarter valued at about $11,998,148,000. 76.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AVGO. Fox Advisors raised shares of Broadcom to an “outperform” rating in a research report on Thursday, September 3rd. Citigroup lowered shares of Broadcom from a “buy” rating to a “neutral” rating in a report on Tuesday. Oppenheimer started coverage on shares of Broadcom in a report on Tuesday. They issued a “buy” rating on the stock. JPMorgan Chase & Co. restated a “buy” rating on shares of Broadcom in a research report on Thursday, September 3rd. Finally, Jefferies Financial Group began coverage on shares of Broadcom in a report on Thursday, September 3rd. They set a “buy” rating and a $550.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $530.52.

Broadcom Stock Down 5.5%

Shares of NASDAQ:AVGO opened at $326.08 on Friday. The company has a fifty day moving average of $352.81 and a 200-day moving average of $366.96. The company has a market capitalization of $1.56 trillion, a PE ratio of 41.65 and a beta of 1.46. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.29 and a current ratio of 2.50. Broadcom Inc. has a 52-week low of $289.96 and a 52-week high of $495.00.

Broadcom (NASDAQ:AVGO) last issued its 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 during the quarter, compared to analysts’ expectations of $29.24 billion. Broadcom had a return on equity of 48.33% and a net margin of 42.94%. The business’s revenue for the quarter was up 85.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.69 EPS. On average, equities analysts predict that Broadcom Inc. will post 10.37 EPS for the current fiscal year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Monday, September 21st were given a dividend of $0.65 per share. The ex-dividend date was Monday, September 21st. This represents a $2.60 annualized dividend and a yield of 0.8%. Broadcom’s dividend payout ratio (DPR) is currently 33.21%.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: DA Davidson upgraded Broadcom to Buy from Neutral and raised its price target to $400 from $350. The firm cited Broadcom’s exposure to major AI customers, including Anthropic and potentially OpenAI. Broadcom Falls Despite DA Davidson Upgrade
• Positive Sentiment: A $63 billion financing arrangement is expected to fund purchases of Broadcom AI hardware for Anthropic. The deal provides a potentially large, funded customer for Broadcom’s custom-chip and networking business, although the company could face substantial obligations under the agreement’s backstop. Broadcom’s $63 Billion Anthropic Deal
• Positive Sentiment: Longer-term investment theses remain favorable: Broadcom projects AI semiconductor revenue of approximately $115 billion in fiscal 2027 and $230 billion in fiscal 2028. Meta’s planned financing for its AI expansion could also support additional demand for Broadcom’s custom silicon and networking products. Meta Financing Plan and Broadcom
• Neutral Sentiment: Broadcom is trading well below its record high and below its 50-day and 200-day moving averages. Analysts see upside, but valuation remains demanding, making execution of the AI growth forecast particularly important.
• Negative Sentiment: Intel’s weaker-than-expected forecast prompted investors to reassess semiconductor demand. Concerns were reinforced by Amazon’s results and the rising cost of building AI infrastructure, pressuring AI-exposed chip stocks broadly. Why Intel, AMD and Broadcom Are Falling
• Negative Sentiment: The Anthropic transaction also carries execution and financial-risk questions. Investors are waiting to see whether Broadcom can manufacture and deliver the required hardware at scale before fully crediting the projected revenue. Broadcom’s Anthropic Deal and Execution Risk

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.