Broadcom Inc. $AVGO Position Trimmed by M & L Capital Management Ltd

M & L Capital Management Ltd decreased its position in Broadcom Inc. (NASDAQ:AVGO) by 69.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 53,329 shares of the semiconductor manufacturer’s stock after selling 122,471 shares during the quarter. Broadcom accounts for 3.9% of M & L Capital Management Ltd’s portfolio, making the stock its 13th biggest holding. M & L Capital Management Ltd’s holdings in Broadcom were worth $18,729,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of AVGO. Core Capital Management & Research inc. bought a new stake in Broadcom in the second quarter worth $31,000. Harborfront Financial Group LLC purchased a new stake in Broadcom during the second quarter valued at $38,000. Align Financial LLC lifted its position in Broadcom by 67.2% during the third quarter. Align Financial LLC now owns 112 shares of the semiconductor manufacturer’s stock valued at $38,000 after purchasing an additional 45 shares during the last quarter. Curry Webb Wealth Management LLC bought a new position in Broadcom during the third quarter valued at $41,000. Finally, Coppell Advisory Solutions LLC bought a new position in Broadcom during the second quarter valued at $60,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Down 5.5%

Shares of AVGO opened at $326.08 on Friday. The company has a market cap of $1.56 trillion, a PE ratio of 41.65 and a beta of 1.46. The business has a fifty day moving average of $352.81 and a 200 day moving average of $366.96. Broadcom Inc. has a 52-week low of $289.96 and a 52-week high of $495.00. 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 (NASDAQ:AVGO) last posted its quarterly earnings data on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share for the quarter, beating 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 analysts’ expectations of $29.24 billion. During the same quarter in the previous year, the business posted $1.69 earnings per share. The business’s revenue was up 85.5% compared to the same quarter last year. On average, sell-side analysts expect 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. Investors of record on Monday, September 21st were issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.8%. The ex-dividend date was Monday, September 21st. Broadcom’s dividend payout ratio is presently 33.21%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AVGO. JPMorgan Chase & Co. restated a “buy” rating on shares of Broadcom in a report on Thursday, September 3rd. President Capital increased their price target on shares of Broadcom from $520.00 to $546.00 and gave the company a “buy” rating in a report on Thursday, September 3rd. UBS Group lowered Broadcom from a “hold” rating to a “neutral” rating in a research report on Tuesday. Piper Sandler began coverage on Broadcom in a research report on Wednesday, September 9th. They issued an “overweight” rating and a $460.00 price target for the company. Finally, TD Cowen reissued a “buy” rating and set a $475.00 price objective (down from $500.00) on shares of Broadcom in a research note on Thursday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $530.52.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: DA Davidson upgraded Broadcom to Buy from Neutral and raised its price target to $400 from $350. The firm cited Broadcom’s exposure to major AI customers, including Anthropic and potentially OpenAI. Broadcom Falls Despite DA Davidson Upgrade
• Positive Sentiment: A $63 billion financing arrangement is expected to fund purchases of Broadcom AI hardware for Anthropic. The deal provides a potentially large, funded customer for Broadcom’s custom-chip and networking business, although the company could face substantial obligations under the agreement’s backstop. Broadcom’s $63 Billion Anthropic Deal
• Positive Sentiment: Longer-term investment theses remain favorable: Broadcom projects AI semiconductor revenue of approximately $115 billion in fiscal 2027 and $230 billion in fiscal 2028. Meta’s planned financing for its AI expansion could also support additional demand for Broadcom’s custom silicon and networking products. Meta Financing Plan and Broadcom
• Neutral Sentiment: Broadcom is trading well below its record high and below its 50-day and 200-day moving averages. Analysts see upside, but valuation remains demanding, making execution of the AI growth forecast particularly important.
• Negative Sentiment: Intel’s weaker-than-expected forecast prompted investors to reassess semiconductor demand. Concerns were reinforced by Amazon’s results and the rising cost of building AI infrastructure, pressuring AI-exposed chip stocks broadly. Why Intel, AMD and Broadcom Are Falling
• Negative Sentiment: The Anthropic transaction also carries execution and financial-risk questions. Investors are waiting to see whether Broadcom can manufacture and deliver the required hardware at scale before fully crediting the projected revenue. Broadcom’s Anthropic Deal and Execution Risk

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.