Congress Asset Management Co. Grows Position in Broadcom Inc. $AVGO

Congress Asset Management Co. lifted its position in Broadcom Inc. (NASDAQ:AVGO) by 11.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 821,013 shares of the semiconductor manufacturer’s stock after buying an additional 82,707 shares during the quarter. Broadcom comprises approximately 1.8% of Congress Asset Management Co.’s holdings, making the stock its 6th largest position. Congress Asset Management Co.’s holdings in Broadcom were worth $288,331,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Fullerton Advisors LLC raised its holdings in Broadcom by 1.3% in the 1st quarter. Fullerton Advisors LLC now owns 1,989 shares of the semiconductor manufacturer’s stock worth $616,000 after acquiring an additional 25 shares during the period. NORTHSTAR ASSET MANAGEMENT Co boosted its holdings in Broadcom by 0.5% during the first quarter. NORTHSTAR ASSET MANAGEMENT Co now owns 5,350 shares of the semiconductor manufacturer’s stock valued at $1,656,000 after acquiring an additional 25 shares during the period. RFG Holdings Inc. boosted its holdings in Broadcom by 0.3% during the first quarter. RFG Holdings Inc. now owns 8,499 shares of the semiconductor manufacturer’s stock valued at $2,631,000 after acquiring an additional 26 shares during the period. Yukon Wealth Management Inc. grew its position in shares of Broadcom by 1.1% in the first quarter. Yukon Wealth Management Inc. now owns 2,501 shares of the semiconductor manufacturer’s stock valued at $774,000 after purchasing an additional 26 shares during the last quarter. Finally, NerdWallet Wealth Partners LLC grew its position in shares of Broadcom by 2.6% in the second quarter. NerdWallet Wealth Partners LLC now owns 1,057 shares of the semiconductor manufacturer’s stock valued at $399,000 after purchasing an additional 27 shares during the last quarter. 76.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. President Capital lifted their price objective on Broadcom from $520.00 to $546.00 and gave the stock a “buy” rating in a research note on Thursday, September 3rd. BMO Capital Markets increased their target price on Broadcom from $455.00 to $575.00 and gave the company an “outperform” rating in a research note on Thursday, September 3rd. KeyCorp reaffirmed an “overweight” rating and issued a $575.00 target price on shares of Broadcom in a report on Thursday, September 3rd. Morgan Stanley reaffirmed an “overweight” rating and issued a $505.00 price target (up from $502.00) on shares of Broadcom in a research report on Thursday, September 3rd. Finally, TD Cowen reiterated a “buy” rating and set a $475.00 price target (down from $500.00) on shares of Broadcom in a report on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, thirty-seven have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Broadcom has an average rating of “Moderate Buy” and a consensus price target of $527.20.

Broadcom Stock Performance

Shares of NASDAQ:AVGO traded up $13.30 on Tuesday, hitting $375.81. 30,765,540 shares of the company were exchanged, compared to its average volume of 25,155,971. The company’s 50 day moving average price is $372.33 and its two-hundred day moving average price is $381.36. The firm has a market capitalization of $1.79 trillion, a price-to-earnings ratio of 48.00 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 one year low of $289.96 and a one year high of $495.00.

Broadcom (NASDAQ:AVGO) last released its 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. Broadcom had a net margin of 42.94% and a return on equity of 48.33%. The business had revenue of $29.59 billion during the quarter, compared to analysts’ expectations of $29.24 billion. During the same quarter last year, the company earned $1.69 earnings per share. The firm’s revenue was up 85.5% on a year-over-year basis. Research analysts expect that Broadcom Inc. will post 10.37 earnings per share for the current year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st were given a $0.65 dividend. The ex-dividend date was Monday, September 21st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.7%. 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: Potential $42 billion Anthropic financing deal: Reports indicate Broadcom may be arranging a large financing package tied to Anthropic’s purchase of AI chips and related infrastructure. If completed, the deal could provide significant visibility into future AI revenue and reinforce Broadcom’s role as a key supplier to hyperscale customers. Broadcom Stock Jumps Following Reported $42 Billion Financing Deal With Anthropic Why Is Broadcom Lining Up a Large AI Chip Financing Deal?
• Positive Sentiment: Custom-chip momentum supports the AI growth story: Marvell’s investor-day discussion of custom AI silicon lifted sentiment across the sector, highlighting demand for specialized accelerators and networking products. Broadcom is viewed as one of the leading design partners for cloud companies developing their own chips. Marvell Rallies as Investor Day Presses the Custom AI Silicon Case
• Positive Sentiment: Analysts remain constructive on AI demand: Recent coverage emphasizes Broadcom’s sharply accelerating AI semiconductor revenue, including reported year-over-year growth above 200%, and argues that data-center power constraints may affect competitors and project timing more than Broadcom and Nvidia. Nvidia and Broadcom May Be Protected From AI Power Shortage
• Neutral Sentiment: Options activity signals bullish positioning: Investors purchased approximately 426,000 Broadcom call options, about 34% above typical daily call volume. This indicates increased speculative interest but does not guarantee sustained buying in the stock.
• Negative Sentiment: Financing and valuation risks remain: Critics question whether Anthropic-related arrangements could represent circular financing, in which supplier financing indirectly supports customer purchases. Broadcom also trades at a premium multiple, making the shares vulnerable if AI growth slows or the reported deal fails to materialize. Broadcom Has a New Problem: Anthropic

Insider Buying and Selling

In other news, Director Gayla Delly sold 1,890 shares of Broadcom stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $385.38, for a total transaction of $728,368.20. Following the sale, the director owned 31,326 shares of the company’s stock, valued at approximately $12,072,413.88. This trade represents a 5.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark Brazeal sold 25,000 shares of Broadcom stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $401.33, for a total value of $10,033,250.00. Following the sale, the insider directly owned 194,989 shares in the company, valued at $78,254,935.37. The trade was a 11.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 51,890 shares of company stock valued at $20,241,368 in the last quarter. Corporate insiders own 1.90% of the company’s stock.

About Broadcom

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops, and supplies semiconductor and infrastructure software products. Its semiconductor solutions support wired and wireless communications, data center networking, broadband access, storage, industrial applications, and other markets.

The company’s semiconductor portfolio includes networking and switching products, custom application-specific integrated circuits, wireless connectivity components, radio-frequency devices, optical components, and storage-related solutions.