Vestor Capital LLC Acquires 56,627 Shares of Broadcom Inc. $AVGO

Vestor Capital LLC raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 10,295.8% in the third quarter, Holdings Channel reports. The institutional investor owned 57,177 shares of the semiconductor manufacturer’s stock after acquiring an additional 56,627 shares during the period. Broadcom comprises about 0.6% of Vestor Capital LLC’s portfolio, making the stock its 29th biggest holding. Vestor Capital LLC’s holdings in Broadcom were worth $20,080,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. NerdWallet Wealth Partners LLC increased its stake in shares of Broadcom by 2.6% in the 2nd 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 raised its holdings in Broadcom by 1.4% in the 2nd quarter. Veery Capital LLC now owns 1,900 shares of the semiconductor manufacturer’s stock worth $718,000 after purchasing an additional 27 shares during the period. Ridgeline Wealth Planning LLC lifted its position in Broadcom by 2.1% during the second quarter. Ridgeline Wealth Planning LLC now owns 1,302 shares of the semiconductor manufacturer’s stock valued at $492,000 after purchasing an additional 27 shares in the last quarter. Meridian Management Co. lifted its position in Broadcom by 0.3% during the first quarter. Meridian Management Co. now owns 9,425 shares of the semiconductor manufacturer’s stock valued at $2,917,000 after purchasing an additional 28 shares in the last quarter. Finally, Arkansas Financial Group Inc. lifted its position in Broadcom by 3.5% during the second quarter. Arkansas Financial Group Inc. now owns 866 shares of the semiconductor manufacturer’s stock valued at $327,000 after purchasing an additional 29 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AVGO. TD Cowen restated a “buy” rating and issued a $475.00 price target (down from $500.00) on shares of Broadcom in a research report on Thursday, September 3rd. The Goldman Sachs Group lifted their price objective on Broadcom from $525.00 to $540.00 and gave the company a “buy” rating in a research report on Thursday, September 3rd. Jefferies Financial Group began coverage on Broadcom in a research note on Thursday, September 3rd. They set a “buy” rating and a $550.00 price objective for the company. Royal Bank Of Canada started coverage on shares of Broadcom in a report on Thursday, September 3rd. They issued an “outperform” rating for the company. Finally, Oppenheimer began coverage on shares of Broadcom in a report on Tuesday, October 27th. They issued a “buy” rating for the company. One research analyst has rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $530.52.

Key Headlines Impacting Broadcom

Here are a few of the latest headlines about AVGO:

• 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
• Neutral Sentiment: Some commentary views Broadcom as a potential beneficiary of continued AI investment, while noting that its shares have retreated from earlier highs. Am I Buying the Dip in Broadcom Stock?

Broadcom Stock Up 4.0%

AVGO opened at $345.22 on Thursday. The stock has a market cap of $1.65 trillion, a price-to-earnings ratio of 44.09 and a beta of 1.49. 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’s fifty day moving average is $345.65 and its 200 day moving average is $366.28. Broadcom Inc. has a fifty-two week low of $289.77 and a fifty-two week high of $495.00.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.22 by $0.10. The business had revenue of $29.59 billion during the quarter, compared to analyst estimates of $29.24 billion. Broadcom had a return on equity of 48.33% and a net margin of 42.94%. Broadcom’s revenue for the quarter was up 85.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.69 EPS. On average, sell-side analysts forecast that Broadcom Inc. will post 10.37 earnings per share for the current fiscal year.

Broadcom Announces Dividend

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%.

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.