Broadcom Inc. $AVGO Position Trimmed by Nemes Rush Group LLC

Nemes Rush Group LLC lowered its position in Broadcom Inc. (NASDAQ:AVGO) by 1.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 152,471 shares of the semiconductor manufacturer’s stock after selling 2,191 shares during the quarter. Broadcom comprises about 4.4% of Nemes Rush Group LLC’s portfolio, making the stock its 3rd largest position. Nemes Rush Group LLC’s holdings in Broadcom were worth $53,546,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Montis Financial LLC increased its stake in Broadcom by 6.4% in the third quarter. Montis Financial LLC now owns 3,475 shares of the semiconductor manufacturer’s stock worth $1,220,000 after purchasing an additional 208 shares during the period. Gryphon Financial Partners LLC lifted its position in shares of Broadcom by 0.4% during the third quarter. Gryphon Financial Partners LLC now owns 28,035 shares of the semiconductor manufacturer’s stock worth $9,846,000 after purchasing an additional 100 shares during the last quarter. Fairscale Capital LLC boosted its stake in shares of Broadcom by 2.9% during the third quarter. Fairscale Capital LLC now owns 5,687 shares of the semiconductor manufacturer’s stock valued at $1,854,000 after purchasing an additional 160 shares during the period. M&G PLC boosted its stake in shares of Broadcom by 12.8% during the third quarter. M&G PLC now owns 1,812,692 shares of the semiconductor manufacturer’s stock valued at $636,255,000 after purchasing an additional 206,349 shares during the period. Finally, Vestor Capital LLC boosted its stake in shares of Broadcom by 10,295.8% during the third quarter. Vestor Capital LLC now owns 57,177 shares of the semiconductor manufacturer’s stock valued at $20,080,000 after purchasing an additional 56,627 shares during the period. Institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

Shares of AVGO stock opened at $345.22 on Thursday. Broadcom Inc. has a twelve month low of $289.77 and a twelve month high of $495.00. The stock has a market capitalization of $1.65 trillion, a price-to-earnings ratio of 44.09 and a beta of 1.49. The stock has a fifty day simple moving average of $345.65 and a two-hundred day simple moving average of $366.28. 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 posted its quarterly earnings results 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. The business had revenue of $29.59 billion for the quarter, compared to the consensus estimate of $29.24 billion. Broadcom had a return on equity of 48.33% and a net margin of 42.94%. The business’s revenue was up 85.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.69 EPS. On average, analysts predict that Broadcom Inc. will post 10.37 EPS for the current fiscal year.

Broadcom Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 0.8%. Broadcom’s dividend payout ratio is 33.21%.

Trending Headlines about Broadcom

These are some of the AVGO headlines that stood out recently:

• Positive Sentiment: Analysts say Google’s latest TPU developments reinforce Broadcom’s central role in custom AI chips, supporting expectations for ongoing demand from major technology customers. Google’s latest TPUs show Broadcom remains central: JPM
• Positive Sentiment: Coverage of Anthropic points to substantial cash and rising revenue as support for its large commitment involving Broadcom, bolstering confidence in the AI partnership and related chip demand. Anthropic’s S-1 Strengthens the Case for Broadcom’s AI Growth
• Negative Sentiment: Risks include Broadcom’s valuation and the possibility that debt-financed AI infrastructure spending could expose the company to credit risk if demand or customer finances weaken. Broadcom: A Great TPU Business With a New Kind of Credit Risk Attached

Analysts Set New Price Targets

Several research analysts recently commented on AVGO shares. BNP Paribas Exane raised their price target on shares of Broadcom from $675.00 to $715.00 and gave the stock an “outperform” rating in a research note on Friday, September 4th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Broadcom in a research report on Thursday, September 3rd. Sanford C. Bernstein restated a “buy” rating on shares of Broadcom in a research note on Monday, September 21st. Piper Sandler began coverage on shares of Broadcom in a research note on Wednesday, September 9th. They issued an “overweight” rating and a $460.00 target price on the stock. Finally, Arete Research raised their target price on shares of Broadcom from $488.00 to $530.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. 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 company’s stock. According to data from MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and a consensus target price of $530.52.

Broadcom Company 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.