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

Plimoth Trust Co. LLC increased its stake 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 and Exchange Commission (SEC). The fund owned 23,087 shares of the semiconductor manufacturer’s stock after buying an additional 2,040 shares during the quarter. Broadcom comprises approximately 1.5% of Plimoth Trust Co. LLC’s investment portfolio, making the stock its 15th biggest holding. Plimoth Trust Co. LLC’s holdings in Broadcom were worth $8,108,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AVGO. NORTHSTAR ASSET MANAGEMENT Co lifted its holdings in shares of Broadcom by 0.5% during the first quarter. NORTHSTAR ASSET MANAGEMENT Co now owns 5,350 shares of the semiconductor manufacturer’s stock worth $1,656,000 after purchasing an additional 25 shares during the period. Yukon Wealth Management Inc. grew its position in Broadcom by 1.1% during the 1st quarter. Yukon Wealth Management Inc. now owns 2,501 shares of the semiconductor manufacturer’s stock worth $774,000 after purchasing an additional 26 shares during the period. NerdWallet Wealth Partners LLC grew its position in Broadcom by 2.6% during the 2nd quarter. NerdWallet Wealth Partners LLC now owns 1,057 shares of the semiconductor manufacturer’s stock worth $399,000 after purchasing an additional 27 shares during the period. Veery Capital LLC raised its stake 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 valued at $718,000 after buying an additional 27 shares during the last quarter. Finally, Ridgeline Wealth Planning LLC grew its holdings 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 acquiring an additional 27 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Key Broadcom News

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 Trading Down 5.5%

AVGO opened at $326.08 on Friday. The firm has a market capitalization of $1.56 trillion, a price-to-earnings ratio of 41.65 and a beta of 1.46. The company’s 50 day simple moving average is $352.81 and its two-hundred day simple moving average is $366.96. Broadcom Inc. has a 1-year low of $289.96 and a 1-year high of $495.00. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.29.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 EPS for the quarter, beating the consensus estimate of $3.22 by $0.10. Broadcom had a return on equity of 48.33% and a net margin of 42.94%. The firm had revenue of $29.59 billion during the quarter, compared to analysts’ expectations of $29.24 billion. During the same quarter last year, the firm earned $1.69 earnings per share. The business’s revenue for the quarter was up 85.5% on a year-over-year basis. Analysts expect 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. Stockholders of record on Monday, September 21st were paid a $0.65 dividend. The ex-dividend date of this dividend was Monday, September 21st. This represents a $2.60 annualized dividend and a dividend yield of 0.8%. Broadcom’s dividend payout ratio is 33.21%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on AVGO shares. Erste Group Bank cut shares of Broadcom from a “buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Fox Advisors upgraded Broadcom to an “outperform” rating in a research report on Thursday, September 3rd. KeyCorp reissued an “overweight” rating and issued a $575.00 price target on shares of Broadcom in a research note on Thursday, September 3rd. Truist Financial reduced their price objective on shares of Broadcom from $550.00 to $520.00 and set a “buy” rating for the company in a research report on Thursday, September 3rd. Finally, BMO Capital Markets increased their price objective on shares of Broadcom from $455.00 to $575.00 and gave the company an “outperform” rating in a report on Thursday, September 3rd. One analyst has rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $530.52.

About Broadcom

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.