Broadcom Inc. $AVGO Stock Acquired by Vest Financial LLC

Vest Financial LLC boosted its position in Broadcom Inc. (NASDAQ:AVGO) by 21.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 218,440 shares of the semiconductor manufacturer’s stock after buying an additional 38,079 shares during the period. Vest Financial LLC’s holdings in Broadcom were worth $76,714,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of AVGO. Networth Advisors LLC increased its holdings in shares of Broadcom by 546.2% in the 1st quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 71 shares during the last quarter. Core Capital Management & Research inc. acquired a new stake in shares of Broadcom during the 2nd quarter valued at approximately $31,000. Harborfront Financial Group LLC acquired a new stake in shares of Broadcom during the 2nd quarter valued at approximately $38,000. Align Financial LLC lifted its stake in Broadcom by 67.2% during the third quarter. Align Financial LLC now owns 112 shares of the semiconductor manufacturer’s stock worth $38,000 after purchasing an additional 45 shares during the last quarter. Finally, Coppell Advisory Solutions LLC bought a new position in Broadcom during the second quarter worth $60,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Trading Down 0.5%

NASDAQ:AVGO opened at $321.68 on Friday. Broadcom Inc. has a 12-month low of $289.96 and a 12-month high of $495.00. The firm has a market capitalization of $1.54 trillion, a P/E ratio of 41.08 and a beta of 1.46. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.29. The business has a 50 day simple moving average of $356.05 and a 200 day simple moving average of $384.25.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share for the quarter, topping the consensus estimate of $3.22 by $0.10. The firm had revenue of $29.59 billion for the quarter, compared to analyst estimates of $29.24 billion. Broadcom had a return on equity of 48.33% and a net margin of 42.94%. The firm’s revenue for the quarter was up 85.5% on a year-over-year basis. During the same period last year, the company earned $1.69 earnings per share. Equities research analysts predict that Broadcom Inc. will post 10.37 EPS for the current year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st were given a dividend of $0.65 per share. The ex-dividend date was Monday, September 21st. This represents a $2.60 annualized dividend and a dividend yield of 0.8%. Broadcom’s dividend payout ratio is currently 33.21%.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: ETF investors bought approximately $89.8 million of Broadcom shares on October 21, signaling continued institutional demand. Broadcom Sees $89.8 Million in Net ETF Buying
• Positive Sentiment: Analysts continue to highlight Broadcom’s leadership in custom AI accelerators. Demand from major AI labs and hyperscalers, including Anthropic, OpenAI and Meta, supports management’s ambitious long-term AI semiconductor growth outlook. 3 Magnificent AI Chip Stocks
• Positive Sentiment: Tigress Financial initiated coverage with a Buy rating and a $600 price target, implying substantial upside from recent trading levels. Tigress Financial Broadcom Coverage
• Positive Sentiment: Broadcom launched Arcot Scam Defense, a real-time fraud-detection feature for digital payments. Strong initial pilot results could create incremental growth for its software and security businesses. Broadcom Debuts Arcot Scam Defense
• Neutral Sentiment: Broadcom remains the leading custom-chip design partner, but Alphabet is diversifying its TPU suppliers. Although Broadcom may lose market share, the overall AI accelerator market is expected to expand rapidly, potentially offsetting that loss. Broadcom AI Chip Business Risks
• Negative Sentiment: Investors are worried that customer-owned chip design and increased competition from MediaTek could reduce Broadcom’s role and margins in future AI programs. Alphabet’s supplier diversification is the clearest near-term risk. Broadcom AI Chip Business Risks
• Negative Sentiment: The broader market sell-off is weighing on AI stocks amid higher oil prices, inflation concerns and questions about whether massive data-center investments will generate sufficient returns. Technical commentary identifies the $320 area as an important support test. Broadcom Faces Critical $320 Test

Analyst Ratings Changes

AVGO has been the subject of a number of research reports. Bank of America decreased their price objective on shares of Broadcom from $530.00 to $460.00 and set a “buy” rating for the company in a report on Thursday, September 3rd. Wall Street Zen downgraded shares of Broadcom from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 18th. UBS Group downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Thursday, September 3rd. Citigroup reaffirmed a “buy” rating and issued a $515.00 price target (up from $500.00) on shares of Broadcom in a report on Friday, September 4th. Finally, HSBC lowered their price objective on shares of Broadcom from $600.00 to $560.00 and set a “buy” rating for the company in a research report on Thursday, September 3rd. One analyst has rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $529.17.

Broadcom Profile

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.