1,528 Broadcom Inc. $AVGO Shares Sold by Private Advisory Group LLC

Private Advisory Group LLC decreased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 86,464 shares of the semiconductor manufacturer’s stock after selling 1,528 shares during the quarter. Broadcom comprises about 1.6% of Private Advisory Group LLC’s investment portfolio, making the stock its 12th largest position. Private Advisory Group LLC’s holdings in Broadcom were worth $30,365,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of AVGO. Legacy Trust increased its position in Broadcom by 80.6% during the third quarter. Legacy Trust now owns 10,170 shares of the semiconductor manufacturer’s stock valued at $3,316,000 after acquiring an additional 4,538 shares during the last quarter. Warburton Capital Management LLC boosted its stake in shares of Broadcom by 59.3% during the 3rd quarter. Warburton Capital Management LLC now owns 2,170 shares of the semiconductor manufacturer’s stock worth $721,000 after purchasing an additional 808 shares during the period. Tortoise Investment Management LLC boosted its stake in shares of Broadcom by 5.4% during the 3rd quarter. Tortoise Investment Management LLC now owns 2,491 shares of the semiconductor manufacturer’s stock worth $875,000 after purchasing an additional 128 shares during the period. Everest Financial Group LLC grew its holdings in Broadcom by 10.9% during the 3rd quarter. Everest Financial Group LLC now owns 55,138 shares of the semiconductor manufacturer’s stock valued at $19,364,000 after purchasing an additional 5,401 shares during the last quarter. Finally, PBU The Pension Fund of Early Childhood & Youth Educators grew its holdings in Broadcom by 3.3% during the 3rd quarter. PBU The Pension Fund of Early Childhood & Youth Educators now owns 318,134 shares of the semiconductor manufacturer’s stock valued at $111,725,000 after purchasing an additional 10,304 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Trading Down 4.8%

Broadcom stock traded down $17.35 during trading hours on Friday, hitting $347.01. The company had a trading volume of 31,579,948 shares, compared to its average volume of 26,761,208. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.29 and a current ratio of 2.50. The firm has a market cap of $1.66 trillion, a P/E ratio of 44.32 and a beta of 1.49. The company has a 50-day moving average price of $345.39 and a two-hundred day moving average price of $366.55. Broadcom Inc. has a 1 year low of $289.77 and a 1 year high of $495.00.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 EPS for the quarter, topping analysts’ consensus estimates of $3.22 by $0.10. Broadcom had a net margin of 42.94% and a return on equity of 48.33%. The business had revenue of $29.59 billion for the quarter, compared to analyst estimates of $29.24 billion. During the same period last year, the company posted $1.69 earnings per share. The company’s quarterly revenue was up 85.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Broadcom Inc. will post 10.20 earnings per share for the current year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors 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 yield of 0.7%. Broadcom’s dividend payout ratio is 33.21%.

Recent Broadcom Headlines

Here are a few of the latest headlines about AVGO:

• Positive Sentiment: Broadcom could benefit as cloud providers diversify beyond NVIDIA and invest in custom AI chips. The company designs custom ASICs for hyperscalers, and Anthropic’s disclosed spending commitments have been cited as support for Broadcom’s growth outlook. Anthropic’s S-1 strengthens the case for Broadcom’s AI growth
• Neutral Sentiment: Broadcom had recently rallied as investors considered whether NVIDIA’s leadership turmoil could redirect demand to rival chipmakers. NVIDIA’s rebound on Friday, however, prompted some investors to reassess that rotation. AMD, Broadcom stocks fall as Nvidia rebounds
• Negative Sentiment: Rothschild & Co Redburn cut AVGO to Neutral from Buy and lowered its price target by 33%, from $595 to $398. It flagged risk from Broadcom’s growing exposure to AI financing arrangements, including reliance on AI companies such as Anthropic and OpenAI that are not yet self-funding. Broadcom stock falls as firm flags AI financing risks

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Truist Financial decreased their price objective on shares of Broadcom from $550.00 to $520.00 and set a “buy” rating for the company in a research note on Thursday, September 3rd. Weiss Ratings cut Broadcom from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday. Lake Street Capital upgraded Broadcom to a “buy” rating in a report on Thursday, September 3rd. Wedbush initiated coverage on Broadcom in a research note on Tuesday, October 27th. They set an “outperform” rating for the company. Finally, BNP Paribas Exane boosted their price objective on Broadcom from $675.00 to $715.00 and gave the company an “outperform” rating in a report on Friday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $525.19.

Broadcom Profile

Broadcom Inc. is a global technology company that designs and supplies semiconductor products and infrastructure software. Its semiconductor portfolio includes chips and components used in networking, broadband communications, wireless connectivity, data storage, and industrial applications. The company serves businesses across a range of industries, including communications, enterprise technology, and consumer electronics. Broadcom also provides infrastructure software, including products for virtualization, cloud computing, cybersecurity, and enterprise operations.