Castleview Partners LLC Sells 1,532 Shares of Broadcom Inc. $AVGO

Castleview Partners LLC decreased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 40.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 2,227 shares of the semiconductor manufacturer’s stock after selling 1,532 shares during the period. Castleview Partners LLC’s holdings in Broadcom were worth $782,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cornerstone Advisors LLC purchased a new position in shares of Broadcom during the second quarter valued at $92,522,000. GAMMA Investing LLC increased its position in Broadcom by 8.8% during the 3rd quarter. GAMMA Investing LLC now owns 164,015 shares of the semiconductor manufacturer’s stock valued at $55,889,000 after buying an additional 13,317 shares in the last quarter. Bank of America Corp DE raised its position in shares of Broadcom by 1.5% in the 1st quarter. Bank of America Corp DE now owns 58,737,097 shares of the semiconductor manufacturer’s stock valued at $18,179,719,000 after purchasing an additional 894,564 shares during the last quarter. Clear Harbor Asset Management LLC purchased a new stake in shares of Broadcom during the second quarter valued at $3,302,000. Finally, Bartlett & CO. Wealth Management LLC increased its holdings in shares of Broadcom by 129.3% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 110,048 shares of the semiconductor manufacturer’s stock valued at $34,061,000 after purchasing an additional 62,050 shares during the period. Institutional investors own 76.43% of the company’s stock.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom is reportedly arranging more than $50 billion in financing for custom AI chips being developed with OpenAI. Although discussions are preliminary, the potential project underscores the scale of expected demand for Broadcom’s custom silicon and could support substantial future revenue. Broadcom seeks more than $50 billion to finance OpenAI AI chips
• Positive Sentiment: At the OCP Global Summit, Broadcom highlighted new networking technologies designed to help hyperscalers scale AI clusters. The announcements reinforce its positioning in high-speed networking and custom AI infrastructure. Broadcom AI networking innovations
• Positive Sentiment: Record profits at Samsung and TSMC are being viewed as evidence that semiconductor demand and AI-related capital spending remain strong, a favorable backdrop for Broadcom’s chip and networking businesses. Record profits at Samsung and TSMC
• Positive Sentiment: Analysts and commentators continue to point to Broadcom’s rapid AI revenue growth and its roughly 24% decline from its 52-week high as a potential entry point, despite expectations for strong earnings growth. Broadcom is lagging the market

Wall Street Analyst Weigh In

Several equities research analysts have commented on AVGO shares. BMO Capital Markets upped their price target on shares of Broadcom from $455.00 to $575.00 and gave the company an “outperform” rating in a report on Thursday, September 3rd. Lake Street Capital raised shares of Broadcom to a “buy” rating in a research note on Thursday, September 3rd. Rosenblatt Securities initiated coverage on Broadcom in a research note on Thursday, September 3rd. They issued a “buy” rating and a $600.00 price objective for the company. Cantor Fitzgerald boosted their target price on Broadcom from $525.00 to $600.00 and gave the stock an “overweight” rating in a report on Thursday, September 3rd. Finally, Truist Financial reduced their target price on shares of Broadcom from $550.00 to $520.00 and set a “buy” rating on the stock in a research note on Thursday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, thirty-seven have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $527.20.

Broadcom Stock Performance

Shares of AVGO stock opened at $361.54 on Friday. The firm has a 50 day moving average of $371.24 and a two-hundred day moving average of $382.38. The company has a quick ratio of 2.29, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. Broadcom Inc. has a 52 week low of $289.96 and a 52 week high of $495.00. The stock has a market capitalization of $1.73 trillion, a PE ratio of 46.17 and a beta of 1.46.

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, beating 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 company had revenue of $29.59 billion for the quarter, compared to analyst estimates of $29.24 billion. During the same quarter last year, the company earned $1.69 EPS. Broadcom’s revenue for the quarter was up 85.5% compared to the same quarter last year. On average, research analysts predict that Broadcom Inc. will post 10.37 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Monday, September 21st were paid a dividend of $0.65 per share. The ex-dividend date was Monday, September 21st. This represents a $2.60 annualized dividend and a yield of 0.7%. Broadcom’s payout ratio is presently 33.21%.

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 wired and wireless communications, data center networking, broadband access, storage, industrial applications, and other markets.

The company’s semiconductor portfolio includes networking and switching products, custom application-specific integrated circuits, wireless connectivity components, radio-frequency devices, optical components, and storage-related solutions.