Broadcom Inc. $AVGO Stock Purchased by Welch & Forbes LLC

Welch & Forbes LLC boosted its position in Broadcom Inc. (NASDAQ:AVGO) by 0.5% in the third quarter, Holdings Channel.com reports. The firm owned 272,470 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,465 shares during the quarter. Broadcom makes up about 1.1% of Welch & Forbes LLC’s holdings, making the stock its 25th largest position. Welch & Forbes LLC’s holdings in Broadcom were worth $95,689,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Montis Financial LLC grew its stake in shares of Broadcom by 6.4% during the 3rd quarter. Montis Financial LLC now owns 3,475 shares of the semiconductor manufacturer’s stock worth $1,220,000 after purchasing an additional 208 shares during the period. Gryphon Financial Partners LLC increased its holdings in shares of Broadcom by 0.4% in the 3rd quarter. Gryphon Financial Partners LLC now owns 28,035 shares of the semiconductor manufacturer’s stock valued at $9,846,000 after purchasing an additional 100 shares in the last quarter. Fairscale Capital LLC increased its holdings in shares of Broadcom by 2.9% in the 3rd quarter. Fairscale Capital LLC now owns 5,687 shares of the semiconductor manufacturer’s stock valued at $1,854,000 after purchasing an additional 160 shares in the last quarter. M&G PLC lifted its stake in shares of Broadcom by 12.8% in the third quarter. M&G PLC now owns 1,812,692 shares of the semiconductor manufacturer’s stock valued at $636,255,000 after purchasing an additional 206,349 shares during the period. Finally, Vestor Capital LLC lifted its stake in shares of Broadcom by 10,295.8% in the third quarter. Vestor Capital LLC now owns 57,177 shares of the semiconductor manufacturer’s stock valued at $20,080,000 after purchasing an additional 56,627 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Up 4.0%

Broadcom stock opened at $345.22 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.29 and a current ratio of 2.50. The firm has a market capitalization of $1.65 trillion, a price-to-earnings ratio of 44.09 and a beta of 1.49. Broadcom Inc. has a fifty-two week low of $289.77 and a fifty-two week high of $495.00. The stock’s fifty day moving average is $345.65 and its two-hundred day moving average is $366.28.

Broadcom (NASDAQ:AVGO) last announced its quarterly 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. The business had revenue of $29.59 billion during the quarter, compared to analysts’ expectations of $29.24 billion. Broadcom had a return on equity of 48.33% and a net margin of 42.94%. The business’s revenue for the quarter was up 85.5% on a year-over-year basis. During the same quarter last year, the business posted $1.69 earnings per share. Analysts predict that Broadcom Inc. will post 10.37 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Monday, September 21st were paid 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 is presently 33.21%.

Analysts Set New Price Targets

A number of research firms recently commented on AVGO. Wall Street Zen downgraded shares of Broadcom from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 18th. Citigroup cut shares of Broadcom from a “buy” rating to a “neutral” rating in a report on Tuesday, October 27th. Raymond James Financial reaffirmed an “outperform” rating and issued a $475.00 target price (up from $450.00) on shares of Broadcom in a report on Thursday, September 3rd. Lake Street Capital upgraded shares of Broadcom to a “buy” rating in a research report on Thursday, September 3rd. Finally, Sanford C. Bernstein reissued a “buy” rating on shares of Broadcom in a research note on Monday, September 21st. One equities research 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 stock. According to data from MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and an average price target of $530.52.

More Broadcom News

Investors following AVGO have been watching these news items:

• 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: Analysts say Google’s latest TPU developments reinforce Broadcom’s central role in custom AI chips, supporting expectations for ongoing demand from major technology customers. Google’s latest TPUs show Broadcom remains central: JPM
• 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 Company 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.