Broadcom Inc. $AVGO Shares Sold by Quadrant Capital Group LLC

Quadrant Capital Group LLC lessened its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 5.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 129,758 shares of the semiconductor manufacturer’s stock after selling 8,033 shares during the period. Broadcom accounts for about 1.2% of Quadrant Capital Group LLC’s portfolio, making the stock its 11th largest position. Quadrant Capital Group LLC’s holdings in Broadcom were worth $46,364,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bell Bank increased its stake in shares of Broadcom by 2.4% in the 3rd quarter. Bell Bank now owns 22,457 shares of the semiconductor manufacturer’s stock valued at $7,887,000 after buying an additional 518 shares during the period. Eagle Harbor Asset Management Inc. ADV lifted its stake in shares of Broadcom by 1.2% during the third quarter. Eagle Harbor Asset Management Inc. ADV now owns 15,296 shares of the semiconductor manufacturer’s stock valued at $5,372,000 after acquiring an additional 180 shares during the period. Benchmark Financial Wealth Advisors LLC lifted its stake in shares of Broadcom by 2.3% during the third quarter. Benchmark Financial Wealth Advisors LLC now owns 6,393 shares of the semiconductor manufacturer’s stock valued at $2,245,000 after acquiring an additional 141 shares during the period. Cushing Capital Partners LLC boosted its holdings in Broadcom by 8.9% in the third quarter. Cushing Capital Partners LLC now owns 1,904 shares of the semiconductor manufacturer’s stock valued at $669,000 after acquiring an additional 155 shares during the last quarter. Finally, Physician Wealth Advisors Inc. boosted its holdings in Broadcom by 11.5% in the third quarter. Physician Wealth Advisors Inc. now owns 3,749 shares of the semiconductor manufacturer’s stock valued at $1,317,000 after acquiring an additional 386 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Key Broadcom News

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

Broadcom Trading Down 0.5%

NASDAQ:AVGO opened at $321.68 on Friday. The company has a current ratio of 2.50, a quick ratio of 2.29 and a debt-to-equity ratio of 0.57. Broadcom Inc. has a 1-year low of $289.96 and a 1-year high of $495.00. The firm has a market capitalization of $1.54 trillion, a price-to-earnings ratio of 41.08 and a beta of 1.46. The business’s 50-day moving average price is $356.05 and its two-hundred day moving average price is $384.25.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $0.10. The company 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%. The company’s revenue for the quarter was up 85.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.69 EPS. On average, equities analysts expect that Broadcom Inc. will post 10.37 earnings per share for the current year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Monday, September 21st were paid 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 yield of 0.8%. Broadcom’s dividend payout ratio (DPR) is presently 33.21%.

Wall Street Analyst Weigh In

Several analysts have weighed in on AVGO shares. Sanford C. Bernstein reissued a “buy” rating on shares of Broadcom in a report on Monday, September 21st. BNP Paribas Exane raised their target price on shares of Broadcom from $675.00 to $715.00 and gave the company an “outperform” rating in a research note on Friday, September 4th. Piper Sandler initiated coverage on shares of Broadcom in a research report on Wednesday, September 9th. They set an “overweight” rating and a $460.00 price target for the company. Jefferies Financial Group began coverage on shares of Broadcom in a research report on Thursday, September 3rd. They set a “buy” rating and a $550.00 price target for the company. Finally, Evercore set a $578.00 price target on shares of Broadcom and gave the stock an “outperform” rating in a research note on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $529.17.

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.