Broadcom Inc. $AVGO Stock: Mirador Capital Partners LP Raises Position

Mirador Capital Partners LP boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 57.6% in the 3rd quarter, Holdings Channel reports. The fund owned 21,297 shares of the semiconductor manufacturer’s stock after buying an additional 7,787 shares during the period. Mirador Capital Partners LP’s holdings in Broadcom were worth $7,479,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. State Street Corp increased its holdings in shares of Broadcom by 8.7% during the 2nd quarter. State Street Corp now owns 208,031,610 shares of the semiconductor manufacturer’s stock valued at $75,367,711,000 after purchasing an additional 16,651,378 shares in the last quarter. Bank of America Corp DE grew its position in Broadcom by 4.6% during the second quarter. Bank of America Corp DE now owns 61,423,013 shares of the semiconductor manufacturer’s stock valued at $23,202,543,000 after buying an additional 2,685,916 shares during the period. Wellington Management Group LLP grew its position in Broadcom by 3.8% during the second quarter. Wellington Management Group LLP now owns 51,580,703 shares of the semiconductor manufacturer’s stock valued at $19,484,611,000 after buying an additional 1,892,721 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Broadcom by 2.9% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 40,180,530 shares of the semiconductor manufacturer’s stock valued at $15,178,195,000 after buying an additional 1,140,598 shares in the last quarter. Finally, Legal & General Group Plc purchased a new position in Broadcom in the second quarter valued at $11,998,148,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Stock Performance

NASDAQ AVGO opened at $361.54 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.29. The stock’s 50 day simple moving average is $371.24 and its 200-day simple moving average is $382.38. The company has a market cap of $1.73 trillion, a PE ratio of 46.17 and a beta of 1.46. Broadcom Inc. has a 1-year low of $289.96 and a 1-year high of $495.00.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 EPS for the quarter, beating the consensus estimate of $3.22 by $0.10. The firm 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%. The firm’s revenue was up 85.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.69 EPS. As a group, equities research analysts anticipate that Broadcom Inc. will post 10.37 EPS for the current fiscal year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st were paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, September 21st. Broadcom’s dividend payout ratio (DPR) is currently 33.21%.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom is reportedly arranging more than $50 billion in financing for custom AI chips being developed with OpenAI. Although discussions are preliminary, the potential project underscores the scale of expected demand for Broadcom’s custom silicon and could support substantial future revenue. Broadcom seeks more than $50 billion to finance OpenAI AI chips
• Positive Sentiment: At the OCP Global Summit, Broadcom highlighted new networking technologies designed to help hyperscalers scale AI clusters. The announcements reinforce its positioning in high-speed networking and custom AI infrastructure. Broadcom AI networking innovations
• Positive Sentiment: Record profits at Samsung and TSMC are being viewed as evidence that semiconductor demand and AI-related capital spending remain strong, a favorable backdrop for Broadcom’s chip and networking businesses. Record profits at Samsung and TSMC
• Positive Sentiment: Analysts and commentators continue to point to Broadcom’s rapid AI revenue growth and its roughly 24% decline from its 52-week high as a potential entry point, despite expectations for strong earnings growth. Broadcom is lagging the market

Analysts Set New Price Targets

A number of research firms have recently commented on AVGO. Wall Street Zen cut Broadcom from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 18th. Dbs Bank raised Broadcom to a “moderate buy” rating in a report on Thursday, June 18th. KeyCorp reissued an “overweight” rating and issued a $575.00 price objective on shares of Broadcom in a report on Thursday, September 3rd. DA Davidson set a $350.00 price objective on Broadcom and gave the company a “neutral” rating in a research report on Friday, September 4th. Finally, Evercore set a $578.00 target price on Broadcom and gave the company an “outperform” rating in a research report on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, thirty-seven have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and an average price target of $527.20.

About Broadcom

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops, and supplies semiconductor and infrastructure software products. Its semiconductor solutions support wired and wireless communications, data center networking, broadband access, storage, industrial applications, and other markets.

The company’s semiconductor portfolio includes networking and switching products, custom application-specific integrated circuits, wireless connectivity components, radio-frequency devices, optical components, and storage-related solutions.