Broadcom Inc. $AVGO Stock Bought by Plimoth Trust Co. LLC

Plimoth Trust Co. LLC grew its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 9.7% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,087 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,040 shares during the period. Broadcom makes up about 1.5% of Plimoth Trust Co. LLC’s holdings, making the stock its 15th largest holding. Plimoth Trust Co. LLC’s holdings in Broadcom were worth $8,108,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. NORTHSTAR ASSET MANAGEMENT Co boosted its position in Broadcom by 0.5% in the 1st quarter. NORTHSTAR ASSET MANAGEMENT Co now owns 5,350 shares of the semiconductor manufacturer’s stock valued at $1,656,000 after buying an additional 25 shares during the period. Yukon Wealth Management Inc. increased its position in shares of Broadcom by 1.1% in the 1st 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. NerdWallet Wealth Partners LLC raised its stake in 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 buying an additional 27 shares in the last quarter. Veery Capital LLC raised its position in shares of Broadcom by 1.4% during the 2nd quarter. Veery Capital LLC now owns 1,900 shares of the semiconductor manufacturer’s stock worth $718,000 after acquiring an additional 27 shares in the last quarter. Finally, Ridgeline Wealth Planning LLC lifted its stake in Broadcom by 2.1% during the second quarter. Ridgeline Wealth Planning LLC now owns 1,302 shares of the semiconductor manufacturer’s stock worth $492,000 after purchasing an additional 27 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AVGO. KeyCorp reissued an “overweight” rating and issued a $575.00 price target on shares of Broadcom in a research report on Thursday, September 3rd. William Blair cut Broadcom from an “outperform” rating to a “market perform” rating in a research report on Tuesday. Truist Financial lowered their target price on Broadcom from $550.00 to $520.00 and set a “buy” rating on the stock in a research note on Thursday, September 3rd. Oppenheimer began coverage on shares of Broadcom in a research report on Tuesday. They set a “buy” rating for the company. Finally, Wedbush initiated coverage on shares of Broadcom in a research report on Tuesday. They issued an “outperform” rating for the company. One analyst has rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Broadcom has an average rating of “Moderate Buy” and an average price target of $530.52.

Broadcom Stock Down 5.5%

NASDAQ AVGO opened at $326.08 on Friday. The company has a quick ratio of 2.29, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. Broadcom Inc. has a fifty-two week low of $289.96 and a fifty-two week high of $495.00. The business has a 50 day moving average price of $352.81 and a two-hundred day moving average price of $366.96. The stock has a market cap of $1.56 trillion, a PE ratio of 41.65 and a beta of 1.46.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.22 by $0.10. The company had revenue of $29.59 billion for the quarter, compared to analyst estimates of $29.24 billion. Broadcom had a net margin of 42.94% and a return on equity of 48.33%. The business’s quarterly revenue was up 85.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.69 earnings per share. As a group, sell-side analysts predict that Broadcom Inc. will post 10.37 EPS for the current fiscal year.

Broadcom Dividend Announcement

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 dividend payout ratio is currently 33.21%.

Broadcom News Summary

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

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.