Louisbourg Investments Inc. increased its stake in Broadcom Inc. (NASDAQ:AVGO – Free Report) by 19.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 34,311 shares of the semiconductor manufacturer’s stock after purchasing an additional 5,689 shares during the quarter. Broadcom makes up approximately 2.1% of Louisbourg Investments Inc.’s investment portfolio, making the stock its 10th biggest position. Louisbourg Investments Inc.’s holdings in Broadcom were worth $12,050,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently bought and sold shares of the stock. Legal & General Group Plc purchased a new stake in Broadcom in the second quarter worth about $11,998,148,000. Bank of New York Mellon Corp bought a new position in shares of Broadcom in the second quarter worth about $10,528,191,000. Jupiter Topco LLC bought a new position in shares of Broadcom in the second quarter worth about $7,396,271,000. State Street Corp raised its stake in shares of Broadcom by 8.7% in the second quarter. State Street Corp now owns 208,031,610 shares of the semiconductor manufacturer’s stock worth $75,367,711,000 after buying an additional 16,651,378 shares during the period. Finally, Deutsche Bank AG purchased a new position in shares of Broadcom during the 2nd quarter valued at about $5,661,216,000. 76.43% of the stock is owned by institutional investors.
Key Stories Impacting Broadcom
Here are the key news stories impacting Broadcom this week:
- Positive Sentiment: Tigress Financial initiated coverage with a Buy rating and a $600 price target, implying substantial upside and signaling confidence in Broadcom’s AI semiconductor and infrastructure-software opportunities. Tigress Financial Broadcom coverage
- Positive Sentiment: Broadcom launched Arcot Scam Defense, a real-time fraud-detection feature for card-not-present transactions. Initial financial-institution pilots reportedly produced strong results, offering a potential new growth opportunity for its infrastructure-software business. Broadcom launches Arcot Scam Defense
- Positive Sentiment: Several analyses remain bullish on Broadcom’s custom AI-chip and networking exposure, describing the company as a potential long-term beneficiary of rising AI revenue and as a relatively resilient play if AI customers face cash-flow pressures. Broadcom long-term stock prediction
- Neutral Sentiment: Broadcom’s recent earnings exceeded consensus estimates, with revenue growth accelerating sharply year over year. However, the strong results are already being weighed against elevated valuation expectations and broader market conditions.
- Negative Sentiment: Chip stocks have broadly pulled back amid higher-rate concerns and worries that the massive AI data-center buildout may take longer to generate adequate returns. This sector-wide risk is weighing on AVGO alongside company-specific developments. Chip stocks pullback
- Negative Sentiment: Technical-focused coverage identifies the $320 area as a critical test. A sustained break below that level could encourage additional selling, while the stock’s position below its moving averages reflects weakened near-term momentum. Broadcom $320 support analysis
Broadcom Trading Down 4.3%
Shares of AVGO stock opened at $323.24 on Friday. Broadcom Inc. has a 52-week low of $289.96 and a 52-week high of $495.00. 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 $1.54 trillion, a PE ratio of 41.28 and a beta of 1.46. The stock has a fifty day simple moving average of $357.48 and a two-hundred day simple moving average of $384.69.
Broadcom (NASDAQ:AVGO – Get Free Report) last posted its quarterly earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 EPS 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 business had revenue of $29.59 billion for the quarter, compared to analysts’ expectations of $29.24 billion. During the same period last year, the firm earned $1.69 earnings per share. The business’s quarterly revenue was up 85.5% on a year-over-year basis. On average, analysts predict that Broadcom Inc. will post 10.37 EPS for the current fiscal year.
Broadcom Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Monday, September 21st were given a dividend of $0.65 per share. The ex-dividend date was Monday, September 21st. This represents a $2.60 annualized dividend and a dividend yield of 0.8%. Broadcom’s dividend payout ratio (DPR) is currently 33.21%.
Wall Street Analysts Forecast Growth
AVGO has been the topic of a number of analyst reports. Weiss Ratings raised Broadcom from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. KeyCorp reissued an “overweight” rating and issued a $575.00 target price on shares of Broadcom in a report on Thursday, September 3rd. Citigroup restated a “buy” rating and set a $515.00 target price (up from $500.00) on shares of Broadcom in a research note on Friday, September 4th. DA Davidson set a $350.00 price target on shares of Broadcom and gave the company a “neutral” rating in a report on Friday, September 4th. Finally, Piper Sandler initiated coverage on shares of Broadcom in a research report on Wednesday, September 9th. They issued an “overweight” rating and a $460.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $529.17.
View Our Latest Stock Report on Broadcom
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.
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