Broadcom Inc. $AVGO Shares Sold by Busey Bank

Busey Bank lessened its position in Broadcom Inc. (NASDAQ:AVGO) by 1.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 289,369 shares of the semiconductor manufacturer’s stock after selling 2,801 shares during the period. Broadcom comprises about 2.4% of Busey Bank’s investment portfolio, making the stock its 7th biggest holding. Busey Bank’s holdings in Broadcom were worth $101,624,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Core Capital Management & Research inc. bought a new stake in shares of Broadcom in the 2nd quarter worth $31,000. Harborfront Financial Group LLC bought a new position in shares of Broadcom during the second quarter valued at $38,000. Align Financial LLC lifted its holdings in shares of Broadcom by 67.2% during the third quarter. Align Financial LLC now owns 112 shares of the semiconductor manufacturer’s stock valued at $38,000 after purchasing an additional 45 shares in the last quarter. Curry Webb Wealth Management LLC bought a new position in shares of Broadcom during the third quarter valued at $41,000. Finally, Coppell Advisory Solutions LLC purchased a new stake in shares of Broadcom during the second quarter valued at $60,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

More Broadcom News

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

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. TD Cowen restated a “buy” rating and set a $475.00 target price (down from $500.00) on shares of Broadcom in a research note on Thursday, September 3rd. Rosenblatt Securities reiterated a “buy” rating and issued a $600.00 price target on shares of Broadcom in a research note on Tuesday, October 27th. Jefferies Financial Group started coverage on shares of Broadcom in a report on Thursday, September 3rd. They set a “buy” rating and a $550.00 price objective for the company. Fox Advisors raised shares of Broadcom to an “outperform” rating in a report on Thursday, September 3rd. Finally, President Capital increased their price objective on shares of Broadcom from $520.00 to $546.00 and gave the company a “buy” rating in a research report on Thursday, September 3rd. One research 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. Based on data from MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and a consensus price target of $530.52.

Broadcom Trading Down 5.5%

Shares of Broadcom stock opened at $326.08 on Friday. The company has a market capitalization of $1.56 trillion, a P/E 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. The company has a fifty day moving average of $352.81 and a 200 day moving average of $366.96. Broadcom Inc. has a fifty-two week low of $289.96 and a fifty-two week high of $495.00.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 EPS for the quarter, beating analysts’ consensus estimates of $3.22 by $0.10. The business had revenue of $29.59 billion for 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 quarterly revenue was up 85.5% on a year-over-year basis. During the same period last year, the firm earned $1.69 earnings per share. On average, sell-side analysts anticipate that Broadcom Inc. will post 10.37 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Monday, September 21st were issued a $0.65 dividend. The ex-dividend date of this dividend was Monday, September 21st. This represents a $2.60 dividend on an annualized basis and a yield of 0.8%. Broadcom’s payout ratio is currently 33.21%.

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.