1,864 Broadcom Inc. $AVGO Shares Sold by Oakmont Investment Advisors Inc.

Oakmont Investment Advisors Inc. cut its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 25.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,408 shares of the semiconductor manufacturer’s stock after selling 1,864 shares during the quarter. Broadcom makes up approximately 1.3% of Oakmont Investment Advisors Inc.’s portfolio, making the stock its 22nd biggest position. Oakmont Investment Advisors Inc.’s holdings in Broadcom were worth $1,900,000 as of its most recent SEC filing.

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

Broadcom Stock Performance

Shares of AVGO stock opened at $321.68 on Monday. Broadcom Inc. has a fifty-two week low of $289.96 and a fifty-two week high of $495.00. 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 stock has a 50 day simple moving average of $356.05 and a two-hundred day simple moving average of $384.74. The company has a market cap of $1.54 trillion, a P/E ratio of 41.08 and a beta of 1.46.

Broadcom (NASDAQ:AVGO) last posted its quarterly 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 firm 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 company’s revenue for the quarter was up 85.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.69 EPS. Research analysts forecast that Broadcom Inc. will post 10.37 earnings per share for the current year.

Broadcom Dividend Announcement

The business 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. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Monday, September 21st. Broadcom’s payout ratio is presently 33.21%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AVGO. Evercore set a $578.00 price target on shares of Broadcom and gave the stock an “outperform” rating in a report on Thursday, September 3rd. Wall Street Zen lowered shares of Broadcom from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 18th. KeyCorp reiterated an “overweight” rating and set a $575.00 price objective on shares of Broadcom in a research report on Thursday, September 3rd. HSBC lowered their target price on shares of Broadcom from $600.00 to $560.00 and set a “buy” rating for the company in a research note on Thursday, September 3rd. Finally, Tigress Financial started coverage on shares of Broadcom in a report on Thursday. They issued a “buy” rating and a $600.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Broadcom has an average rating of “Moderate Buy” and a consensus target price of $529.17.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: ETF investors bought approximately $89.8 million of Broadcom shares on October 21, signaling continued institutional demand. Broadcom Sees $89.8 Million in Net ETF Buying
• Positive Sentiment: Analysts continue to highlight Broadcom’s leadership in custom AI accelerators. Demand from major AI labs and hyperscalers, including Anthropic, OpenAI and Meta, supports management’s ambitious long-term AI semiconductor growth outlook. 3 Magnificent AI Chip Stocks
• Positive Sentiment: Tigress Financial initiated coverage with a Buy rating and a $600 price target, implying substantial upside from recent trading levels. Tigress Financial Broadcom Coverage
• Positive Sentiment: Broadcom launched Arcot Scam Defense, a real-time fraud-detection feature for digital payments. Strong initial pilot results could create incremental growth for its software and security businesses. Broadcom Debuts Arcot Scam Defense
• Neutral Sentiment: Broadcom remains the leading custom-chip design partner, but Alphabet is diversifying its TPU suppliers. Although Broadcom may lose market share, the overall AI accelerator market is expected to expand rapidly, potentially offsetting that loss. Broadcom AI Chip Business Risks
• Negative Sentiment: Investors are worried that customer-owned chip design and increased competition from MediaTek could reduce Broadcom’s role and margins in future AI programs. Alphabet’s supplier diversification is the clearest near-term risk. Broadcom AI Chip Business Risks
• Negative Sentiment: The broader market sell-off is weighing on AI stocks amid higher oil prices, inflation concerns and questions about whether massive data-center investments will generate sufficient returns. Technical commentary identifies the $320 area as an important support test. Broadcom Faces Critical $320 Test

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.