Independence Bank of Kentucky Acquires 2,467 Shares of Broadcom Inc. $AVGO

Independence Bank of Kentucky increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 11.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 23,693 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,467 shares during the quarter. Broadcom makes up approximately 0.9% of Independence Bank of Kentucky’s holdings, making the stock its 21st largest holding. Independence Bank of Kentucky’s holdings in Broadcom were worth $8,321,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AVGO. Ashton Thomas Securities LLC grew its position in Broadcom by 7.6% during the third quarter. Ashton Thomas Securities LLC now owns 22,191 shares of the semiconductor manufacturer’s stock valued at $7,793,000 after buying an additional 1,561 shares during the period. MBE Wealth Management LLC increased its holdings in Broadcom by 19.0% in the third quarter. MBE Wealth Management LLC now owns 1,540 shares of the semiconductor manufacturer’s stock valued at $541,000 after buying an additional 246 shares in the last quarter. Black Diamond Financial LLC raised its position in shares of Broadcom by 96.0% in the third quarter. Black Diamond Financial LLC now owns 1,068 shares of the semiconductor manufacturer’s stock worth $375,000 after acquiring an additional 523 shares during the period. Pflug Koory LLC raised its position in shares of Broadcom by 255.7% in the third quarter. Pflug Koory LLC now owns 1,067 shares of the semiconductor manufacturer’s stock worth $375,000 after acquiring an additional 767 shares during the period. Finally, DMC Group LLC raised its position in shares of Broadcom by 11.5% in the third quarter. DMC Group LLC now owns 1,161 shares of the semiconductor manufacturer’s stock worth $408,000 after acquiring an additional 120 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Royal Bank Of Canada assumed coverage on Broadcom in a research report on Thursday, September 3rd. They set an “outperform” rating on the stock. Raymond James Financial restated an “outperform” rating and issued a $475.00 price target (up from $450.00) on shares of Broadcom in a research note on Thursday, September 3rd. BNP Paribas Exane upped their price target on Broadcom from $675.00 to $715.00 and gave the stock an “outperform” rating in a report on Friday, September 4th. Piper Sandler began coverage on Broadcom in a research report on Wednesday, September 9th. They set an “overweight” rating and a $460.00 price target on the stock. Finally, Erste Group Bank lowered Broadcom from a “buy” rating to a “hold” rating in a report on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $530.52.

Broadcom Stock Performance

NASDAQ AVGO opened at $326.08 on Friday. 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 Inc. has a 1-year low of $289.96 and a 1-year high of $495.00. The company has a market cap of $1.56 trillion, a PE ratio of 41.65 and a beta of 1.46. The stock’s 50 day simple moving average is $352.81 and its 200-day simple moving average is $366.96.

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

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Monday, September 21st. Broadcom’s dividend payout ratio (DPR) is 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

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.