Broadcom Inc. $AVGO Holdings Raised by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC grew its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 47.4% during the 3rd quarter, Holdings Channel reports. The firm owned 5,768 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,856 shares during the period. Douglas Lane & Associates LLC’s holdings in Broadcom were worth $2,026,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in Broadcom by 8.7% during the 2nd quarter. State Street Corp now owns 208,031,610 shares of the semiconductor manufacturer’s stock worth $75,367,711,000 after buying an additional 16,651,378 shares during the period. Bank of America Corp DE grew its position in Broadcom by 4.6% during the 2nd quarter. Bank of America Corp DE now owns 61,423,013 shares of the semiconductor manufacturer’s stock worth $23,202,543,000 after purchasing an additional 2,685,916 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of 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 purchasing an additional 1,892,721 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Broadcom by 2.9% during the second 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 buying an additional 1,140,598 shares in the last quarter. Finally, Legal & General Group Plc acquired a new stake in Broadcom during the 2nd quarter worth about $11,998,148,000. 76.43% of the stock is currently owned by institutional investors.

Broadcom Trading Up 0.4%

AVGO stock opened at $361.54 on Friday. The business has a fifty day moving average of $371.24 and a 200-day moving average of $382.38. The company has a quick ratio of 2.29, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. The company has a market cap of $1.73 trillion, a P/E ratio of 46.17 and a beta of 1.46. Broadcom Inc. has a twelve month low of $289.96 and a twelve month high of $495.00.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 EPS for the quarter, topping analysts’ consensus estimates 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. Broadcom had a return on equity of 48.33% and a net margin of 42.94%. The firm’s quarterly revenue was up 85.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.69 earnings per share. As a group, equities research analysts expect that Broadcom Inc. will post 10.37 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st were given a dividend of $0.65 per share. The ex-dividend date of this dividend 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%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on AVGO shares. Wall Street Zen cut Broadcom from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 18th. Weiss Ratings upgraded Broadcom from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday. Arete Research upped their price objective on shares of Broadcom from $488.00 to $530.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. UBS Group lowered Broadcom from a “buy” rating to a “hold” rating in a report on Thursday, September 3rd. Finally, DA Davidson set a $350.00 price objective on shares of Broadcom and gave the stock a “neutral” rating in a research note on Friday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-seven have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and an average price target of $527.20.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom is reportedly arranging more than $50 billion in financing for custom AI chips being developed with OpenAI. Although discussions are preliminary, the potential project underscores the scale of expected demand for Broadcom’s custom silicon and could support substantial future revenue. Broadcom seeks more than $50 billion to finance OpenAI AI chips
• Positive Sentiment: At the OCP Global Summit, Broadcom highlighted new networking technologies designed to help hyperscalers scale AI clusters. The announcements reinforce its positioning in high-speed networking and custom AI infrastructure. Broadcom AI networking innovations
• Positive Sentiment: Record profits at Samsung and TSMC are being viewed as evidence that semiconductor demand and AI-related capital spending remain strong, a favorable backdrop for Broadcom’s chip and networking businesses. Record profits at Samsung and TSMC
• Positive Sentiment: Analysts and commentators continue to point to Broadcom’s rapid AI revenue growth and its roughly 24% decline from its 52-week high as a potential entry point, despite expectations for strong earnings growth. Broadcom is lagging the market

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 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.