9,118 Broadcom Inc. $AVGO Shares Sold by Sanders Capital LLC

Sanders Capital LLC cut its position in Broadcom Inc. (NASDAQ:AVGO) by 0.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,154,512 shares of the semiconductor manufacturer’s stock after selling 9,118 shares during the period. Broadcom accounts for about 1.8% of Sanders Capital LLC’s investment portfolio, making the stock its 17th biggest position. Sanders Capital LLC’s holdings in Broadcom were worth $1,810,213,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AVGO. Core Capital Management & Research inc. bought a new position in shares of Broadcom in the second quarter valued at approximately $31,000. DecisionPoint Financial LLC boosted its holdings in shares of Broadcom by 101.9% in the 3rd quarter. DecisionPoint Financial LLC now owns 105 shares of the semiconductor manufacturer’s stock worth $36,000 after acquiring an additional 53 shares in the last quarter. Harborfront Financial Group LLC bought a new stake in Broadcom during the 2nd quarter worth approximately $38,000. Align Financial LLC grew its position in Broadcom by 67.2% during the 3rd quarter. Align Financial LLC now owns 112 shares of the semiconductor manufacturer’s stock worth $38,000 after acquiring an additional 45 shares during the last quarter. Finally, Curry Webb Wealth Management LLC bought a new stake in Broadcom during the 3rd quarter worth approximately $41,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s AI semiconductor revenue is surging, and management sees significant growth potential over the next several years. One analysis argues that the market may not yet reflect that opportunity; another estimates the shares could be undervalued. Prediction: November Will Be a Huge Month for Broadcom Broadcom Stock Could Be 37% Undervalued
• Neutral Sentiment: Some coverage frames the recent pullback as a potential turning point, with a widening gap between AI business growth and the share-price trend. Whether fundamentals prompt a recovery remains uncertain. Broadcom Stock Could Be Approaching a Major Turning Point
• Negative Sentiment: Near-term risks include the broad AI-chip selloff and worries that higher interest rates could curb AI spending. Potential limits on new data-center permits in some states add uncertainty about future infrastructure buildouts. Broadcom’s AI Revenue Is Exploding. Here’s What Investors Should Watch Next. Broadcom Drops Amid Broad Chip Selloff
• Negative Sentiment: Investor positioning has also weighed on sentiment: ARK sold a large Broadcom holding during the selloff while buying Nvidia. Broadcom is still down sharply over the past month, despite the recent lift. ARK Buys Nvidia and Sells Broadcom Broadcom Is Still Down 22% in the Past Month

Broadcom Stock Performance

Shares of NASDAQ:AVGO opened at $293.69 on Monday. The stock has a market capitalization of $1.40 trillion, a P/E ratio of 37.51 and a beta of 1.49. Broadcom Inc. has a 1-year low of $289.77 and a 1-year high of $495.00. The company has a current ratio of 2.50, a quick ratio of 2.29 and a debt-to-equity ratio of 0.57. The business has a 50-day moving average price of $347.89 and a two-hundred day moving average price of $366.17.

Broadcom (NASDAQ:AVGO) last released its 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. The company had revenue of $29.59 billion for the quarter, compared to the consensus estimate of $29.24 billion. Broadcom had a net margin of 42.94% and a return on equity of 48.33%. The company’s revenue was up 85.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.69 EPS. Equities analysts predict that Broadcom Inc. will post 10.37 earnings per share for the current 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 dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Monday, September 21st. Broadcom’s payout ratio is 33.21%.

Analysts Set New Price Targets

AVGO has been the subject of a number of recent analyst reports. William Blair cut Broadcom from an “outperform” rating to a “market perform” rating in a report on Tuesday, October 27th. Bank of America reduced their price objective on Broadcom from $530.00 to $460.00 and set a “buy” rating on the stock in a research note on Thursday, September 3rd. Wedbush assumed coverage on Broadcom in a report on Tuesday, October 27th. They set an “outperform” rating on the stock. BMO Capital Markets raised their target price on Broadcom from $455.00 to $575.00 and gave the company an “outperform” rating in a research note on Thursday, September 3rd. Finally, DA Davidson upgraded Broadcom from a “neutral” rating to a “buy” rating and raised their target price for the company from $350.00 to $400.00 in a research note on Tuesday, October 27th. One research analyst has rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $530.52.

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.