Reliant Investment Management LLC Buys 53,359 Shares of Broadcom Inc. $AVGO

Reliant Investment Management LLC bought a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 53,359 shares of the semiconductor manufacturer’s stock, valued at approximately $18,739,000. Broadcom makes up 6.4% of Reliant Investment Management LLC’s investment portfolio, making the stock its 4th largest holding.

Several other hedge funds have also bought and sold shares of the stock. Fullerton Advisors LLC lifted its position in shares of Broadcom by 1.3% during the 1st quarter. Fullerton Advisors LLC now owns 1,989 shares of the semiconductor manufacturer’s stock valued at $616,000 after buying an additional 25 shares in the last quarter. NORTHSTAR ASSET MANAGEMENT Co grew its stake in shares of Broadcom by 0.5% during the 1st 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. grew its stake in shares of Broadcom by 0.3% during the 1st 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. increased its holdings in Broadcom by 1.1% in the 1st quarter. Yukon Wealth Management Inc. now owns 2,501 shares of the semiconductor manufacturer’s stock worth $774,000 after acquiring an additional 26 shares in the last quarter. Finally, NerdWallet Wealth Partners LLC increased its holdings in Broadcom by 2.6% in the 2nd quarter. NerdWallet Wealth Partners LLC now owns 1,057 shares of the semiconductor manufacturer’s stock worth $399,000 after acquiring an additional 27 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Analysts Set New Price Targets

AVGO has been the topic of a number of recent analyst reports. Weiss Ratings upgraded shares of Broadcom from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. HSBC dropped their price target on shares of Broadcom from $600.00 to $560.00 and set a “buy” rating for the company in a research report on Thursday, September 3rd. Morgan Stanley reissued an “overweight” rating and issued a $505.00 price objective (up from $502.00) on shares of Broadcom in a research note on Thursday, September 3rd. KeyCorp reissued an “overweight” rating and issued a $575.00 price objective on shares of Broadcom in a research note on Thursday, September 3rd. Finally, Wall Street Zen downgraded shares of Broadcom from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, thirty-seven have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and an average target price of $527.20.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s custom AI accelerator business remains a major growth driver. The company is reportedly booking orders well into 2028 as large technology customers shift toward internally designed chips, potentially benefiting Broadcom as AI spending expands beyond Nvidia. One Stock Could Benefit as AI Spending Moves Beyond Nvidia
• Positive Sentiment: Analysts continue to raise expectations: Erste Group lifted its fiscal 2027 EPS forecast to $17.59 from $17.54, while other coverage highlights Broadcom’s strong free cash flow, high-margin semiconductor and infrastructure-software businesses, and substantial AI-chip revenue.
• Positive Sentiment: Broadcom is preparing to launch an AI networking platform at the OCP Global Summit, supporting the view that its opportunity extends beyond accelerators into the networking infrastructure needed for AI data centers. Broadcom To Launch AI Networking Platform
• Positive Sentiment: The introduction of VMware HyperArmor adds a new security product for VMware Cloud Foundation and could strengthen Broadcom’s infrastructure-software portfolio. Broadcom Introduces VMware HyperArmor
• Neutral Sentiment: Several analyses describe a disconnect between Broadcom’s rapidly growing revenue and weaker stock performance. The company is viewed as a potentially steadier long-term AI investment than more concentrated semiconductor peers, but investors remain divided over whether current growth is sufficiently reflected in its valuation.
• Negative Sentiment: CEO Hock Tan warned that AI investment has a “casino” element and faces a capital hurdle. Those comments have heightened concerns that data-center customers could eventually slow spending or struggle to earn adequate returns, even as Broadcom raises AI expectations.
• Negative Sentiment: Reports discussing a possible $50 billion debt deal have raised questions about leverage and financing risk. Meanwhile, AVGO remains well below its 52-week high and below its 50-day and 200-day moving averages, indicating continuing technical pressure and investor profit-taking.

Broadcom Trading Down 3.1%

Shares of Broadcom stock opened at $346.25 on Thursday. The firm has a market cap of $1.65 trillion, a price-to-earnings ratio of 44.22 and a beta of 1.46. The business has a 50-day moving average price of $367.83 and a 200-day moving average price of $383.58. 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 twelve month low of $289.96 and a twelve month high of $495.00.

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 the consensus estimate 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 business’s revenue was up 85.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.69 earnings per share. Equities research analysts anticipate that Broadcom Inc. will post 10.37 EPS for the current fiscal year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st were issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.8%. The ex-dividend date was Monday, September 21st. Broadcom’s dividend payout ratio (DPR) is currently 33.21%.

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.