Broadcom Inc. $AVGO Shares Purchased by Summit Global Investments

Summit Global Investments boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 64.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,082 shares of the semiconductor manufacturer’s stock after purchasing an additional 13,687 shares during the period. Broadcom comprises 0.6% of Summit Global Investments’ holdings, making the stock its 22nd largest position. Summit Global Investments’ holdings in Broadcom were worth $12,320,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp boosted its position in shares of Broadcom by 8.7% during the second 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 holdings in shares of Broadcom by 4.6% during the second quarter. Bank of America Corp DE now owns 61,423,013 shares of the semiconductor manufacturer’s stock worth $23,202,543,000 after buying an additional 2,685,916 shares in the last quarter. Wellington Management Group LLP raised its position in Broadcom by 3.8% in the 2nd quarter. Wellington Management Group LLP now owns 51,580,703 shares of the semiconductor manufacturer’s stock valued at $19,484,611,000 after buying an additional 1,892,721 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Broadcom by 2.9% in the 2nd 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 during the last quarter. Finally, Legal & General Group Plc acquired a new stake in Broadcom in the 2nd quarter valued at approximately $11,998,148,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on AVGO. Evercore set a $578.00 price target on Broadcom and gave the stock an “outperform” rating in a research report on Thursday, September 3rd. The Goldman Sachs Group raised their price target on shares of Broadcom from $525.00 to $540.00 and gave the stock a “buy” rating in a research note on Thursday, September 3rd. Weiss Ratings upgraded shares of Broadcom from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Lake Street Capital raised shares of Broadcom to a “buy” rating in a research report on Thursday, September 3rd. Finally, HC Wainwright assumed coverage on shares of Broadcom in a research report on Tuesday, October 27th. They issued a “buy” rating on the stock. One investment 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $530.52.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $332.13 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.29. The business has a 50-day moving average of $351.35 and a 200-day moving average of $366.76. The stock has a market capitalization of $1.59 trillion, a price-to-earnings ratio of 42.42 and a beta of 1.49. Broadcom Inc. has a fifty-two week low of $289.96 and a fifty-two week high of $495.00.

Broadcom (NASDAQ:AVGO) last released 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. Broadcom had a return on equity of 48.33% and a net margin of 42.94%. The business had revenue of $29.59 billion for the quarter, compared to analyst estimates of $29.24 billion. During the same quarter in the prior year, the company posted $1.69 earnings per share. Broadcom’s revenue was up 85.5% on a year-over-year basis. As a group, sell-side analysts predict that Broadcom Inc. will post 10.37 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders 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 annualized dividend and a dividend yield of 0.8%. Broadcom’s payout ratio is 33.21%.

Broadcom News Summary

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.