First Interstate Bank Acquires 2,241 Shares of Broadcom Inc. $AVGO

First Interstate Bank grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 21.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,507 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,241 shares during the period. First Interstate Bank’s holdings in Broadcom were worth $4,392,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of AVGO. NORTHSTAR ASSET MANAGEMENT Co raised its stake in 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 acquiring an additional 25 shares during the period. Yukon Wealth Management Inc. lifted its holdings in Broadcom by 1.1% in the first 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 during the last quarter. NerdWallet Wealth Partners LLC lifted its holdings in Broadcom by 2.6% in the second 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 during the last quarter. Veery Capital LLC boosted its stake in Broadcom by 1.4% in the second quarter. Veery Capital LLC now owns 1,900 shares of the semiconductor manufacturer’s stock valued at $718,000 after acquiring an additional 27 shares during the period. Finally, Ridgeline Wealth Planning LLC boosted its stake in Broadcom by 2.1% in the second quarter. Ridgeline Wealth Planning LLC now owns 1,302 shares of the semiconductor manufacturer’s stock valued at $492,000 after acquiring an additional 27 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AVGO has been the subject of several recent research reports. Raymond James Financial reaffirmed an “outperform” rating and set a $475.00 target price (up from $450.00) on shares of Broadcom in a report on Thursday, September 3rd. Truist Financial cut their price target on Broadcom from $550.00 to $520.00 and set a “buy” rating on the stock in a report on Thursday, September 3rd. DA Davidson upgraded Broadcom from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $350.00 to $400.00 in a research report on Tuesday. BNP Paribas Exane upped their price objective on Broadcom from $675.00 to $715.00 and gave the stock an “outperform” rating in a research note on Friday, September 4th. Finally, Jefferies Financial Group began coverage on Broadcom in a research report on Thursday, September 3rd. They issued a “buy” rating and a $550.00 target price 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 issued a Hold rating to the stock. According to data from MarketBeat, Broadcom has an average rating of “Moderate Buy” and a consensus price target of $530.52.

Broadcom Price Performance

NASDAQ AVGO opened at $345.00 on Friday. The company has a 50-day moving average price of $353.57 and a two-hundred day moving average price of $367.09. Broadcom Inc. has a 52 week low of $289.96 and a 52 week high of $495.00. The stock has a market cap of $1.65 trillion, a price-to-earnings ratio of 44.06 and a beta of 1.46. The company has a current ratio of 2.50, a quick ratio of 2.29 and a debt-to-equity ratio of 0.57.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data 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 return on equity of 48.33% and a net margin of 42.94%. The business had revenue of $29.59 billion during the quarter, compared to analyst estimates of $29.24 billion. During the same period in the prior year, the company posted $1.69 EPS. The business’s revenue for the quarter was up 85.5% compared to the same quarter last year. Analysts forecast 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 issued a $0.65 dividend. The ex-dividend date of this dividend was Monday, September 21st. This represents a $2.60 annualized dividend and a yield of 0.8%. Broadcom’s dividend payout ratio is presently 33.21%.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Analysts remain constructive: DA Davidson upgraded Broadcom to “Buy,” while Rosenblatt reaffirmed its Buy rating. The upgrades cite the company’s AI semiconductor momentum and long-term growth outlook. DA Davidson Upgrades Broadcom to Buy
• Positive Sentiment: Broadcom’s custom-chip opportunity continues to expand. One bullish outlook points to projected AI semiconductor revenue of approximately $115 billion in fiscal 2027 and $230 billion in fiscal 2028, supported by rising data-center and accelerator demand. The AI Boom Isn’t Over: 3 Stocks You Need to Watch
• Positive Sentiment: Meta’s planned AI financing and potential investment by major chip suppliers could support additional orders for Broadcom as Meta expands its data-center capacity. Why Meta’s $100 Billion Financing Plan Is a Boon for Broadcom
• Neutral Sentiment: The stock’s pullback from its record high has prompted some investors to view Broadcom as a more attractive entry point, although valuation remains dependent on continued exceptional AI growth. Broadcom: This Is Probably a Good Entry Point
• Negative Sentiment: The $63 billion Anthropic financing arrangement is raising concern about asset and credit risk. A special-purpose vehicle would purchase and lease Broadcom hardware, while Broadcom’s potential backstop exposure could reach roughly $43 billion if financing or asset values deteriorate. Broadcom’s Anthropic Deal and Potential Backstop
• Negative Sentiment: Broader concerns about AI spending are also weighing on sentiment. Rising interest rates, heavy borrowing for data centers and doubts about returns on massive capital expenditures could compress richly valued semiconductor stocks. Why Rising Rates Could Break the Bull Market

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.