Broadcom Inc. $AVGO Stock Sold by WASHINGTON TRUST Co

WASHINGTON TRUST Co decreased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 326,227 shares of the semiconductor manufacturer’s stock after selling 9,701 shares during the quarter. Broadcom makes up approximately 3.5% of WASHINGTON TRUST Co’s investment portfolio, making the stock its 5th biggest position. WASHINGTON TRUST Co’s holdings in Broadcom were worth $114,568,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of AVGO. XXI Wealth LLC increased its holdings in Broadcom by 14.5% during the third quarter. XXI Wealth LLC now owns 8,440 shares of the semiconductor manufacturer’s stock worth $2,964,000 after buying an additional 1,067 shares during the last quarter. BIP Wealth LLC lifted its stake in Broadcom by 5.6% in the third quarter. BIP Wealth LLC now owns 13,354 shares of the semiconductor manufacturer’s stock valued at $4,690,000 after acquiring an additional 712 shares during the last quarter. River Street Advisors LLC grew 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 valued at $8,132,000 after acquiring an additional 887 shares during the period. MLP3 LLC acquired a new position in shares of Broadcom during the 3rd quarter worth about $299,000. Finally, Private Wealth Partners LLC raised its holdings in shares of Broadcom by 45.8% in the 3rd quarter. Private Wealth Partners LLC now owns 9,576 shares of the semiconductor manufacturer’s stock valued at $3,363,000 after purchasing an additional 3,006 shares during the period. 76.43% of the stock is currently owned by institutional investors.

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.

Analyst Ratings Changes

A number of equities research analysts have weighed in on AVGO shares. The Goldman Sachs Group raised their target price on Broadcom from $525.00 to $540.00 and gave the company a “buy” rating in a report on Thursday, September 3rd. Rosenblatt Securities reissued a “buy” rating and set a $600.00 price target on shares of Broadcom in a report on Tuesday. President Capital upped their price objective on Broadcom from $520.00 to $546.00 and gave the stock a “buy” rating in a research report on Thursday, September 3rd. Wedbush assumed coverage on Broadcom in a research note on Tuesday. They issued an “outperform” rating on the stock. Finally, TD Cowen reaffirmed a “buy” rating and issued a $475.00 price objective (down from $500.00) on shares of Broadcom in a research note on Thursday, September 3rd. One 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’s stock. According to data from MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and an average target price of $530.52.

Broadcom Stock Performance

AVGO stock opened at $342.33 on Wednesday. The firm has a 50 day moving average of $354.48 and a 200-day moving average of $366.99. Broadcom Inc. has a 12 month low of $289.96 and a 12 month high of $495.00.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results 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. The business had revenue of $29.59 billion during the quarter, compared to analysts’ expectations of $29.24 billion. During the same period in the previous year, the business earned $1.69 EPS. The business’s revenue was up 85.5% on a year-over-year basis. On average, analysts anticipate that Broadcom Inc. will post 10.37 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The company also recently declared 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 dividend yield of 0.8%.

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.