8,031 Broadcom Inc. $AVGO Shares Bought by State of Wyoming

State of Wyoming boosted its stake in Broadcom Inc. (NASDAQ:AVGO) by 78.3% in the third quarter, Holdings Channel reports. The fund owned 18,284 shares of the semiconductor manufacturer’s stock after buying an additional 8,031 shares during the quarter. Broadcom makes up about 0.5% of State of Wyoming’s holdings, making the stock its 11th biggest holding. State of Wyoming’s holdings in Broadcom were worth $6,421,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Legal & General Group Plc purchased a new stake in Broadcom during the 2nd quarter worth approximately $11,998,148,000. Bank of New York Mellon Corp acquired a new stake in Broadcom in the second quarter valued at $10,528,191,000. Jupiter Topco LLC acquired a new stake in Broadcom in the second quarter valued at $7,396,271,000. State Street Corp boosted its stake in Broadcom by 8.7% during the 2nd quarter. State Street Corp now owns 208,031,610 shares of the semiconductor manufacturer’s stock valued at $75,367,711,000 after acquiring an additional 16,651,378 shares during the last quarter. Finally, Deutsche Bank AG bought a new position in Broadcom during the 2nd quarter valued at $5,661,216,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $332.13 on Wednesday. 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 firm has a 50-day simple moving average of $351.35 and a 200 day simple moving average of $366.76. The company has a market cap of $1.59 trillion, a PE ratio of 42.42 and a beta of 1.49.

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

Broadcom Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 0.8%. Broadcom’s payout ratio is currently 33.21%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AVGO. HC Wainwright initiated coverage on shares of Broadcom in a research report on Tuesday, October 27th. They issued a “buy” rating for the company. Tigress Financial initiated coverage on shares of Broadcom in a research report on Thursday, October 22nd. They set a “buy” rating and a $600.00 price target on the stock. The Goldman Sachs Group boosted their price objective on Broadcom from $525.00 to $540.00 and gave the company a “buy” rating in a report on Thursday, September 3rd. Truist Financial cut their price objective on Broadcom from $550.00 to $520.00 and set a “buy” rating on the stock in a research note on Thursday, September 3rd. Finally, Arete Research increased their target price on Broadcom from $488.00 to $530.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $530.52.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom gained alongside other chipmakers as investors continued to favor AI-related stocks. One report says the company’s AI-chip revenue is tripling year over year, reinforcing expectations for continued growth. NVIDIA, AMD and Broadcom stock performance Broadcom’s AI growth outlook
• Positive Sentiment: Investor interest is also reflected in ETF activity: 48 funds bought Broadcom shares on Friday, while 30 sold, for reported net purchases of $183.8 million. ETF purchases of Broadcom shares
• Positive Sentiment: Several investment articles highlight Broadcom’s long-term AI opportunity, including its custom-chip and XPU businesses, and name it among favored technology stocks for the coming years. These are analyst and investor opinions, not new company guidance. Broadcom among top technology stocks AI growth stock picks
• Neutral Sentiment: One bullish investor argues that supply bottlenecks, rather than weak demand, are holding back Broadcom—suggesting demand remains strong but fulfillment constraints may delay revenue. Broadcom supply bottlenecks
• Negative Sentiment: Valuation is a counterpoint: some commentary considers the shares expensive despite the company’s growth prospects. Broadcom’s custom-chip opportunity also depends on customers continuing to develop their own processors, unlike TSMC, which serves multiple chip designers. Broadcom valuation concerns Taiwan Semiconductor versus Broadcom

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.