Heritage Investors Management Corp reduced its stake in shares of Broadcom Inc. (NASDAQ:AVGO – Free Report) by 4.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 461,054 shares of the semiconductor manufacturer’s stock after selling 21,923 shares during the quarter. Broadcom comprises about 4.6% of Heritage Investors Management Corp’s investment portfolio, making the stock its 3rd largest holding. Heritage Investors Management Corp’s holdings in Broadcom were worth $161,918,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also bought and sold shares of the stock. Columbia Bank lifted its holdings in shares of Broadcom by 32.5% during the third quarter. Columbia Bank now owns 9,415 shares of the semiconductor manufacturer’s stock valued at $3,306,000 after purchasing an additional 2,311 shares during the last quarter. Wealth Advisors Northwest LLC increased its stake in Broadcom by 23.0% in the 3rd quarter. Wealth Advisors Northwest LLC now owns 2,469 shares of the semiconductor manufacturer’s stock worth $867,000 after purchasing an additional 461 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Broadcom during the 3rd quarter worth about $1,390,040,000. Pilgrim Partners Asia Pte Ltd raised its holdings in Broadcom by 9.9% during the 3rd quarter. Pilgrim Partners Asia Pte Ltd now owns 4,528 shares of the semiconductor manufacturer’s stock worth $1,590,000 after buying an additional 408 shares during the period. Finally, SFE Investment Counsel lifted its stake in Broadcom by 3.9% during the third quarter. SFE Investment Counsel now owns 59,183 shares of the semiconductor manufacturer’s stock valued at $20,784,000 after buying an additional 2,232 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.
More Broadcom News
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
Analyst Upgrades and Downgrades
AVGO has been the topic of several analyst reports. Wall Street Zen downgraded shares of Broadcom from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 18th. Citic Securities raised shares of Broadcom to a “buy” rating and boosted their target price for the company from $450.00 to $525.00 in a research note on Tuesday, September 8th. Jefferies Financial Group assumed coverage on Broadcom in a report on Thursday, September 3rd. They issued a “buy” rating and a $550.00 target price for the company. HSBC decreased their target price on Broadcom from $600.00 to $560.00 and set a “buy” rating for the company in a research report on Thursday, September 3rd. Finally, HC Wainwright started coverage on Broadcom in a research report on Tuesday, October 27th. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $530.52.
View Our Latest Stock Report on AVGO
Broadcom Trading Down 2.0%
Shares of NASDAQ:AVGO opened at $325.60 on Thursday. The firm has a fifty day moving average of $350.73 and a two-hundred day moving average of $366.67. The firm has a market capitalization of $1.55 trillion, a P/E ratio of 41.58 and a beta of 1.49. Broadcom Inc. has a 12-month low of $289.96 and a 12-month high of $495.00. The company has a quick ratio of 2.29, a current ratio of 2.50 and a debt-to-equity ratio of 0.57.
Broadcom (NASDAQ:AVGO – Get Free Report) last posted its quarterly earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share for the quarter, topping analysts’ consensus estimates of $3.22 by $0.10. The business 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%. Broadcom’s revenue for the quarter was up 85.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.69 earnings per share. On average, equities analysts expect that Broadcom Inc. will post 10.37 EPS for the current fiscal year.
Broadcom Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st were issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Monday, September 21st. Broadcom’s payout ratio is currently 33.21%.
Broadcom Company 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.
Featured Stories
- Five stocks we like better than Broadcom
- Why ExxonMobil and Chevron Reminded Investors to Keep it Simple
- Amazon Has Erased Its Earnings Sell-Off, But Is the Biggest Opportunity Still Ahead?
- onsemi’s AI Sales Surge 175%: Is a Stock Recovery Next?
- Energy Transfer’s Earnings Miss May Be Hiding Its Strongest Advantage
Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc. (NASDAQ:AVGO – Free Report).
Receive News & Ratings for Broadcom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadcom and related companies with MarketBeat.com's FREE daily email newsletter.
-etf-logo-1200x675.png){kind=logo}
