Broadcom Inc. $AVGO Stock: Summit Global Investments Grows Stake

Summit Global Investments increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 64.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,082 shares of the semiconductor manufacturer’s stock after acquiring an additional 13,687 shares during the quarter. Broadcom comprises about 0.6% of Summit Global Investments’ investment portfolio, making the stock its 22nd largest position. Summit Global Investments’ holdings in Broadcom were worth $12,320,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Cornerstone Advisors LLC acquired a new position in shares of Broadcom during the 2nd quarter worth about $92,522,000. GAMMA Investing LLC increased its stake in shares of Broadcom by 8.8% in the 3rd quarter. GAMMA Investing LLC now owns 164,015 shares of the semiconductor manufacturer’s stock valued at $55,889,000 after acquiring an additional 13,317 shares during the last quarter. ANB Bank acquired a new stake in shares of Broadcom in the 3rd quarter valued at approximately $1,181,000. Bank of America Corp DE raised its position in shares of Broadcom by 1.5% in the 1st 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 acquiring an additional 894,564 shares during the period. Finally, Clear Harbor Asset Management LLC acquired a new stake in shares of Broadcom in the 2nd quarter valued at approximately $3,302,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Trading Up 3.1%

NASDAQ AVGO opened at $332.13 on Wednesday. The firm has a market cap of $1.59 trillion, a P/E ratio of 42.42 and a beta of 1.49. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.29. The stock’s 50-day moving average is $351.35 and its 200-day moving average is $366.76. 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 data on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share for the quarter, beating the consensus estimate of $3.22 by $0.10. Broadcom had a return on equity of 48.33% and a net margin of 42.94%. The business had revenue of $29.59 billion for the quarter, compared to analysts’ expectations of $29.24 billion. During the same quarter in the previous year, the business posted $1.69 EPS. Broadcom’s revenue for the quarter was up 85.5% on a year-over-year basis. Sell-side analysts anticipate that Broadcom Inc. will post 10.37 earnings per share for the current fiscal year.

Broadcom Announces Dividend

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

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom gained alongside other chipmakers as investors continued to favor AI-related stocks. One report says the company’s AI-chip revenue is tripling year over year, reinforcing expectations for continued growth. NVIDIA, AMD and Broadcom stock performance Broadcom’s AI growth outlook
• Positive Sentiment: Investor interest is also reflected in ETF activity: 48 funds bought Broadcom shares on Friday, while 30 sold, for reported net purchases of $183.8 million. ETF purchases of Broadcom shares
• Positive Sentiment: Several investment articles highlight Broadcom’s long-term AI opportunity, including its custom-chip and XPU businesses, and name it among favored technology stocks for the coming years. These are analyst and investor opinions, not new company guidance. Broadcom among top technology stocks AI growth stock picks
• Neutral Sentiment: One bullish investor argues that supply bottlenecks, rather than weak demand, are holding back Broadcom—suggesting demand remains strong but fulfillment constraints may delay revenue. Broadcom supply bottlenecks
• Negative Sentiment: Valuation is a counterpoint: some commentary considers the shares expensive despite the company’s growth prospects. Broadcom’s custom-chip opportunity also depends on customers continuing to develop their own processors, unlike TSMC, which serves multiple chip designers. Broadcom valuation concerns Taiwan Semiconductor versus Broadcom

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AVGO. Arete Research boosted their price objective on shares of Broadcom from $488.00 to $530.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. BMO Capital Markets upped their target price 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. Wedbush assumed coverage on shares of Broadcom in a report on Tuesday, October 27th. They issued an “outperform” rating on the stock. Citic Securities raised shares of Broadcom to a “buy” rating and lifted their price target for the stock from $450.00 to $525.00 in a research report on Tuesday, September 8th. Finally, UBS Group cut shares of Broadcom from a “hold” rating to a “neutral” rating in a research report on Tuesday, October 27th. One research analyst has rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price 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.