Broadcom Inc. $AVGO Shares Newly Bought by StoneRidge PMG Advisors LLC

StoneRidge PMG Advisors LLC acquired a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 15,906 shares of the semiconductor manufacturer’s stock, valued at approximately $5,586,000. Broadcom makes up approximately 3.8% of StoneRidge PMG Advisors LLC’s portfolio, making the stock its 5th largest holding.

Several other large investors also recently bought and sold shares of the business. Legal & General Group Plc acquired a new position in shares of Broadcom during the 2nd quarter worth approximately $11,998,148,000. Bank of New York Mellon Corp purchased a new stake in shares of Broadcom in the second quarter valued at approximately $10,528,191,000. Jupiter Topco LLC purchased a new stake in shares of Broadcom in the second quarter valued at approximately $7,396,271,000. State Street Corp grew its position in shares of Broadcom by 8.7% in the second quarter. State Street Corp now owns 208,031,610 shares of the semiconductor manufacturer’s stock valued at $75,367,711,000 after purchasing an additional 16,651,378 shares in the last quarter. Finally, Deutsche Bank AG acquired a new stake in shares of Broadcom in the second quarter valued at approximately $5,661,216,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

More Broadcom News

These are some of the AVGO news items that stood out recently:

• Positive Sentiment: Broadcom shares rose more than 3% in extended trading as turmoil around Nvidia’s CEO sent investors toward rival chipmakers, including Broadcom. Nvidia Stock Sinks as Jensen Huang Ouster Report Sends Investors Toward AMD, Broadcom
• 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
• Neutral Sentiment: Some commentary views Broadcom as a potential beneficiary of continued AI investment, while noting that its shares have retreated from earlier highs. Am I Buying the Dip in Broadcom Stock?

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Tigress Financial started coverage on Broadcom in a report on Thursday, October 22nd. They issued a “buy” rating and a $600.00 target price for the company. Evercore set a $578.00 target price on Broadcom and gave the stock an “outperform” rating in a research note on Thursday, September 3rd. Bank of America reduced their price target on Broadcom from $530.00 to $460.00 and set a “buy” rating on the stock in a report on Thursday, September 3rd. HC Wainwright assumed coverage on shares of Broadcom in a research report on Tuesday, October 27th. They set a “buy” rating on the stock. Finally, Truist Financial lowered their price target on shares of Broadcom from $550.00 to $520.00 and set a “buy” rating on the stock in a research report on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus target price of $530.52.

Broadcom Stock Up 4.0%

AVGO stock opened at $345.22 on Thursday. The firm has a market cap of $1.65 trillion, a PE ratio of 44.09 and a beta of 1.49. 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’s 50 day moving average price is $345.65 and its 200-day moving average price is $366.28. Broadcom Inc. has a one year low of $289.77 and a one year high of $495.00.

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. The firm had revenue of $29.59 billion during 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 company’s quarterly revenue was up 85.5% on a year-over-year basis. During the same period last year, the company earned $1.69 EPS. On average, equities research analysts anticipate that Broadcom Inc. will post 10.37 EPS for the current year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st were paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend 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 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.