Broadcom Inc. $AVGO Stock Sold by Moss Adams Wealth Advisors LLC

Moss Adams Wealth Advisors LLC reduced its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 13.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 17,650 shares of the semiconductor manufacturer’s stock after selling 2,756 shares during the period. Broadcom makes up 0.4% of Moss Adams Wealth Advisors LLC’s investment portfolio, making the stock its 23rd biggest position. Moss Adams Wealth Advisors LLC’s holdings in Broadcom were worth $6,199,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Blue Fin Capital Inc. raised its holdings in shares of Broadcom by 2.5% in the third quarter. Blue Fin Capital Inc. now owns 41,284 shares of the semiconductor manufacturer’s stock valued at $14,499,000 after purchasing an additional 1,003 shares during the last quarter. Summit Global Investments lifted its position in shares of Broadcom by 64.0% during the 3rd quarter. Summit Global Investments now owns 35,082 shares of the semiconductor manufacturer’s stock worth $12,320,000 after buying an additional 13,687 shares in the last quarter. Invera Wealth Advisors LLC lifted its position in shares of Broadcom by 5.7% during the 3rd quarter. Invera Wealth Advisors LLC now owns 7,926 shares of the semiconductor manufacturer’s stock worth $2,784,000 after buying an additional 424 shares in the last quarter. Kassira Wealth Management LLC purchased a new position in shares of Broadcom in the 3rd quarter worth approximately $402,000. Finally, Curtis Advisory Group LLC grew its holdings in shares of Broadcom by 4.8% in the third quarter. Curtis Advisory Group LLC now owns 9,683 shares of the semiconductor manufacturer’s stock valued at $3,401,000 after acquiring an additional 440 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

Broadcom Trading Down 2.0%

NASDAQ:AVGO opened at $325.60 on Thursday. The company has a market cap of $1.55 trillion, a PE ratio of 41.58 and a beta of 1.49. 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 Inc. has a 12 month low of $289.96 and a 12 month high of $495.00. The company has a 50 day simple moving average of $350.73 and a two-hundred day simple moving average of $366.67.

Broadcom (NASDAQ:AVGO) last posted its earnings results 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 return on equity of 48.33% and a net margin of 42.94%. The company had revenue of $29.59 billion for the quarter, compared to the consensus estimate of $29.24 billion. During the same quarter in the prior year, the company earned $1.69 earnings per share. Broadcom’s revenue was up 85.5% on a year-over-year basis. Research analysts forecast that Broadcom Inc. will post 10.37 earnings per share for the current year.

Broadcom Announces Dividend

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

Trending Headlines about 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

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Fox Advisors raised Broadcom to an “outperform” rating in a research report on Thursday, September 3rd. Bank of America reduced their price target on Broadcom from $530.00 to $460.00 and set a “buy” rating for the company in a research report on Thursday, September 3rd. DA Davidson raised shares of Broadcom from a “neutral” rating to a “buy” rating and raised their price target for the company from $350.00 to $400.00 in a report on Tuesday, October 27th. Wedbush initiated coverage on shares of Broadcom in a research note on Tuesday, October 27th. They issued an “outperform” rating for the company. Finally, Lake Street Capital upgraded shares of Broadcom to a “buy” rating in a research report on Thursday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $530.52.

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.