SFE Investment Counsel Purchases 2,232 Shares of Broadcom Inc. $AVGO

SFE Investment Counsel grew its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 59,183 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,232 shares during the quarter. Broadcom comprises 2.9% of SFE Investment Counsel’s portfolio, making the stock its 5th biggest position. SFE Investment Counsel’s holdings in Broadcom were worth $20,784,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Core Capital Management & Research inc. acquired a new stake in Broadcom during the 2nd quarter worth approximately $31,000. DecisionPoint Financial LLC lifted its position in Broadcom by 101.9% during the third quarter. DecisionPoint Financial LLC now owns 105 shares of the semiconductor manufacturer’s stock valued at $36,000 after buying an additional 53 shares in the last quarter. Harborfront Financial Group LLC acquired a new position in Broadcom during the second quarter valued at approximately $38,000. Align Financial LLC grew 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 buying an additional 45 shares during the period. Finally, Curry Webb Wealth Management LLC purchased a new stake in Broadcom during the third quarter worth approximately $41,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Stock Performance

Broadcom stock opened at $325.60 on Thursday. Broadcom Inc. has a 12-month low of $289.96 and a 12-month high of $495.00. 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 company has a market capitalization of $1.55 trillion, a price-to-earnings ratio of 41.58 and a beta of 1.49. The firm’s fifty day moving average price is $350.73 and its 200 day moving average price is $366.67.

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. The company had revenue of $29.59 billion during the quarter, compared to analysts’ expectations of $29.24 billion. Broadcom had a net margin of 42.94% and a return on equity of 48.33%. The firm’s revenue for the quarter was up 85.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.69 EPS. On average, research analysts forecast that Broadcom Inc. will post 10.37 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently declared 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 was Monday, September 21st. This represents a $2.60 annualized dividend and a dividend yield of 0.8%. Broadcom’s payout ratio is 33.21%.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s AI semiconductor revenue reached $16.7 billion, exceeding its $16 billion target, and management expects higher AI revenue next quarter. That supports the view that demand for its custom AI chips remains strong despite competition from Marvell. Article: Is Broadcom Stock a Buy Now?
• Positive Sentiment: ETFs purchased $267.7 million of Broadcom shares on Nov. 2, a sign of institutional demand, though fund flows can be short-lived and do not guarantee further gains. Article: 53 ETFs Add to Broadcom Holdings
• Neutral Sentiment: A report tied midterm-election results and a potential Texas permit freeze to concerns about AI data-center investment. The article does not establish a direct effect on Broadcom, but any broader slowdown in data-center construction could weigh on AI infrastructure suppliers. Article: Steve Weiss Says the Midterms Just Put a Lid on AI Spending
• Negative Sentiment: Broadcom underperformed in a rising market. Coverage describing the session offered no specific explanation, leaving the decline potentially tied to market sentiment or profit-taking rather than a disclosed change in the company’s outlook. Article: Broadcom Stock Slides as Market Rises
• Negative Sentiment: Some commentary flags valuation as a risk, while Broadcom’s custom-chip opportunity depends on customers continuing to develop their own processors. That leaves the stock vulnerable if growth expectations cool or customer plans change. Article: Taiwan Semi or Broadcom

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on AVGO shares. Citigroup lowered shares of Broadcom from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 27th. Piper Sandler assumed coverage on shares of Broadcom in a report on Wednesday, September 9th. They set an “overweight” rating and a $460.00 target price on the stock. Wall Street Zen cut shares of Broadcom from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 18th. Citic Securities upgraded Broadcom to a “buy” rating and increased their price target for the company from $450.00 to $525.00 in a report on Tuesday, September 8th. Finally, UBS Group lowered Broadcom from a “hold” rating to a “neutral” rating in a research report on Tuesday, October 27th. One analyst has rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and an average target price of $530.52.

Broadcom Company 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.