Broadcom Inc. $AVGO Stock: Sage Private Wealth Group LLC Boosts Position

Sage Private Wealth Group LLC raised its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 106.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,777 shares of the semiconductor manufacturer’s stock after purchasing an additional 5,040 shares during the period. Broadcom accounts for approximately 1.1% of Sage Private Wealth Group LLC’s portfolio, making the stock its 21st largest holding. Sage Private Wealth Group LLC’s holdings in Broadcom were worth $3,434,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of AVGO. Cornerstone Advisors LLC bought a new position in Broadcom in the 2nd quarter worth about $92,522,000. GAMMA Investing LLC grew its holdings in Broadcom by 8.8% during the 3rd quarter. GAMMA Investing LLC now owns 164,015 shares of the semiconductor manufacturer’s stock valued at $55,889,000 after buying an additional 13,317 shares in the last quarter. ANB Bank bought a new stake in shares of Broadcom during the third quarter valued at about $1,181,000. Bank of America Corp DE increased its position in shares of Broadcom by 1.5% during the first quarter. Bank of America Corp DE now owns 58,737,097 shares of the semiconductor manufacturer’s stock valued at $18,179,719,000 after buying an additional 894,564 shares during the period. Finally, Clear Harbor Asset Management LLC bought a new stake in shares of Broadcom during the second quarter valued at about $3,302,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Price Performance

Broadcom stock opened at $321.68 on Friday. Broadcom Inc. has a 52 week low of $289.96 and a 52 week high of $495.00. The business has a 50-day simple moving average of $356.05 and a 200 day simple moving average of $384.25. 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 stock has a market cap of $1.54 trillion, a price-to-earnings ratio of 41.08 and a beta of 1.46.

Broadcom (NASDAQ:AVGO) last announced its 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. 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 analyst estimates of $29.24 billion. During the same period in the prior year, the company earned $1.69 EPS. The company’s quarterly revenue was up 85.5% compared to the same quarter last year. On average, research analysts forecast that Broadcom Inc. will post 10.37 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend was Monday, September 21st. This represents a $2.60 annualized dividend and a dividend yield of 0.8%. Broadcom’s payout ratio is presently 33.21%.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: ETF investors bought approximately $89.8 million of Broadcom shares on October 21, signaling continued institutional demand. Broadcom Sees $89.8 Million in Net ETF Buying
• Positive Sentiment: Analysts continue to highlight Broadcom’s leadership in custom AI accelerators. Demand from major AI labs and hyperscalers, including Anthropic, OpenAI and Meta, supports management’s ambitious long-term AI semiconductor growth outlook. 3 Magnificent AI Chip Stocks
• Positive Sentiment: Tigress Financial initiated coverage with a Buy rating and a $600 price target, implying substantial upside from recent trading levels. Tigress Financial Broadcom Coverage
• Positive Sentiment: Broadcom launched Arcot Scam Defense, a real-time fraud-detection feature for digital payments. Strong initial pilot results could create incremental growth for its software and security businesses. Broadcom Debuts Arcot Scam Defense
• Neutral Sentiment: Broadcom remains the leading custom-chip design partner, but Alphabet is diversifying its TPU suppliers. Although Broadcom may lose market share, the overall AI accelerator market is expected to expand rapidly, potentially offsetting that loss. Broadcom AI Chip Business Risks
• Negative Sentiment: Investors are worried that customer-owned chip design and increased competition from MediaTek could reduce Broadcom’s role and margins in future AI programs. Alphabet’s supplier diversification is the clearest near-term risk. Broadcom AI Chip Business Risks
• Negative Sentiment: The broader market sell-off is weighing on AI stocks amid higher oil prices, inflation concerns and questions about whether massive data-center investments will generate sufficient returns. Technical commentary identifies the $320 area as an important support test. Broadcom Faces Critical $320 Test

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group initiated coverage on shares of Broadcom in a report on Thursday, September 3rd. They issued a “buy” rating and a $550.00 price target on the stock. Lake Street Capital raised shares of Broadcom to a “buy” rating in a research note on Thursday, September 3rd. Royal Bank Of Canada began coverage on shares of Broadcom in a report on Thursday, September 3rd. They set an “outperform” rating on the stock. Citigroup reaffirmed a “buy” rating and set a $515.00 target price (up from $500.00) on shares of Broadcom in a report on Friday, September 4th. Finally, UBS Group cut shares of Broadcom from a “buy” rating to a “hold” rating in a research note on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $529.17.

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.