Broadcom Inc. $AVGO Stock Purchased by SFE Investment Counsel

SFE Investment Counsel raised its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.9% during the third quarter, HoldingsChannel reports. The fund owned 59,183 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,232 shares during the quarter. Broadcom comprises approximately 2.9% of SFE Investment Counsel’s holdings, making the stock its 5th largest position. SFE Investment Counsel’s holdings in Broadcom were worth $20,784,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Yukon Wealth Management Inc. lifted its position in shares of Broadcom by 1.1% during the first quarter. Yukon Wealth Management Inc. now owns 2,501 shares of the semiconductor manufacturer’s stock worth $774,000 after purchasing an additional 26 shares during the last quarter. NerdWallet Wealth Partners LLC grew its stake in Broadcom by 2.6% in the second quarter. NerdWallet Wealth Partners LLC now owns 1,057 shares of the semiconductor manufacturer’s stock worth $399,000 after purchasing an additional 27 shares in the last quarter. Veery Capital LLC increased its holdings in Broadcom by 1.4% in the second quarter. Veery Capital LLC now owns 1,900 shares of the semiconductor manufacturer’s stock valued at $718,000 after buying an additional 27 shares during the last quarter. Ridgeline Wealth Planning LLC increased its holdings in Broadcom by 2.1% in the second quarter. Ridgeline Wealth Planning LLC now owns 1,302 shares of the semiconductor manufacturer’s stock valued at $492,000 after buying an additional 27 shares during the last quarter. Finally, Capital Planning LLC raised its stake in Broadcom by 0.7% during the first quarter. Capital Planning LLC now owns 4,044 shares of the semiconductor manufacturer’s stock valued at $1,252,000 after buying an additional 28 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $325.60 on Thursday. The company has a quick ratio of 2.29, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. The firm’s 50-day moving average price is $350.73 and its two-hundred day moving average price is $366.67. Broadcom Inc. has a 52-week low of $289.96 and a 52-week high of $495.00. The stock has a market capitalization of $1.55 trillion, a P/E ratio of 41.58 and a beta of 1.49.

Broadcom (NASDAQ:AVGO) last issued its 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. The company had revenue of $29.59 billion during the quarter, compared to the consensus estimate of $29.24 billion. Broadcom had a return on equity of 48.33% and a net margin of 42.94%. Broadcom’s quarterly revenue was up 85.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.69 earnings per share. As a group, sell-side analysts forecast that Broadcom Inc. will post 10.37 earnings per share for the current year.

Broadcom Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 0.8%. Broadcom’s payout ratio is currently 33.21%.

Key Headlines Impacting 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

Analyst Ratings Changes

AVGO has been the topic of a number of research analyst reports. Evercore set a $578.00 target price on Broadcom and gave the stock an “outperform” rating in a report on Thursday, September 3rd. HC Wainwright started coverage on Broadcom in a report on Tuesday, October 27th. They issued a “buy” rating for the company. Wall Street Zen lowered Broadcom from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 18th. HSBC dropped their price target on Broadcom from $600.00 to $560.00 and set a “buy” rating on the stock in a research report on Thursday, September 3rd. Finally, Cantor Fitzgerald raised their price objective on Broadcom from $525.00 to $600.00 and gave the stock an “overweight” rating in a research note on Thursday, September 3rd. One analyst has rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus target price 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.