2,262 Broadcom Inc. $AVGO Shares Purchased by Leuthold Group LLC

Leuthold Group LLC lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 62.8% during the third quarter, Holdings Channel.com reports. The firm owned 5,862 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,262 shares during the period. Leuthold Group LLC’s holdings in Broadcom were worth $2,059,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Palacios Wealth Management LLC increased its stake in shares of Broadcom by 3.0% during the third quarter. Palacios Wealth Management LLC now owns 24,621 shares of the semiconductor manufacturer’s stock valued at $8,647,000 after acquiring an additional 720 shares during the period. Private Management Group Inc. raised its holdings in Broadcom by 5.5% during the third quarter. Private Management Group Inc. now owns 2,516 shares of the semiconductor manufacturer’s stock worth $884,000 after purchasing an additional 131 shares in the last quarter. Clear Wave Wealth Management LLC lifted its position in Broadcom by 19.4% in the third quarter. Clear Wave Wealth Management LLC now owns 14,562 shares of the semiconductor manufacturer’s stock worth $5,114,000 after purchasing an additional 2,369 shares during the period. Kohmann Bosshard Financial Services LLC lifted its position in Broadcom by 42.5% in the third quarter. Kohmann Bosshard Financial Services LLC now owns 5,205 shares of the semiconductor manufacturer’s stock worth $1,828,000 after purchasing an additional 1,552 shares during the period. Finally, Joseph Group Capital Management lifted its position in Broadcom by 27.6% in the third quarter. Joseph Group Capital Management now owns 17,024 shares of the semiconductor manufacturer’s stock worth $5,979,000 after purchasing an additional 3,682 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Broadcom Trading Up 4.0%

Shares of AVGO opened at $345.22 on Thursday. The business’s 50-day moving average price is $345.65 and its 200 day moving average price is $366.28. The stock has a market capitalization of $1.65 trillion, a P/E ratio of 44.09 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.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $0.10. Broadcom had a return on equity of 48.33% and a net margin of 42.94%. The firm had revenue of $29.59 billion for the quarter, compared to the consensus estimate of $29.24 billion. During the same quarter in the previous year, the company earned $1.69 EPS. The business’s revenue for the quarter was up 85.5% compared to the same quarter last year. Analysts expect that Broadcom Inc. will post 10.37 earnings per share for the current year.

Broadcom Announces Dividend

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

Wall Street Analysts Forecast Growth

AVGO has been the subject of a number of research reports. Tigress Financial assumed coverage on Broadcom in a research note on Thursday, October 22nd. They set a “buy” rating and a $600.00 price target for the company. Wedbush initiated coverage on Broadcom in a research note on Tuesday, October 27th. They issued an “outperform” rating on the stock. William Blair lowered Broadcom from an “outperform” rating to a “market perform” rating in a report on Tuesday, October 27th. Jefferies Financial Group began coverage on Broadcom in a report on Thursday, September 3rd. They issued a “buy” rating and a $550.00 price objective for the company. Finally, BNP Paribas Exane raised their target price on Broadcom from $675.00 to $715.00 and gave the company an “outperform” rating in a research note on Friday, September 4th. One 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 MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $530.52.

Broadcom News Roundup

Here’s some of the latest news about AVGO:

• Positive Sentiment: Broadcom shares rose more than 3% in extended trading as turmoil around Nvidia’s CEO sent investors toward rival chipmakers, including Broadcom. Nvidia Stock Sinks as Jensen Huang Ouster Report Sends Investors Toward AMD, Broadcom
• Positive Sentiment: Coverage of Anthropic points to substantial cash and rising revenue as support for its large commitment involving Broadcom, bolstering confidence in the AI partnership and related chip demand. Anthropic’s S-1 Strengthens the Case for Broadcom’s AI Growth
• Negative Sentiment: Risks include Broadcom’s valuation and the possibility that debt-financed AI infrastructure spending could expose the company to credit risk if demand or customer finances weaken. Broadcom: A Great TPU Business With a New Kind of Credit Risk Attached

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.