Broadcom Inc. $AVGO Holdings Boosted by ProShare Advisors LLC

ProShare Advisors LLC raised its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 9.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 3,006,996 shares of the semiconductor manufacturer’s stock after acquiring an additional 259,737 shares during the period. Broadcom accounts for 1.5% of ProShare Advisors LLC’s investment portfolio, making the stock its 9th biggest position. ProShare Advisors LLC’s holdings in Broadcom were worth $1,056,027,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of AVGO. Core Capital Management & Research inc. purchased a new stake in Broadcom in the 2nd quarter worth about $31,000. DecisionPoint Financial LLC grew its stake in Broadcom by 101.9% during the 3rd quarter. DecisionPoint Financial LLC now owns 105 shares of the semiconductor manufacturer’s stock valued at $36,000 after acquiring an additional 53 shares in the last quarter. Harborfront Financial Group LLC purchased a new position in Broadcom during the 2nd quarter valued at about $38,000. Align Financial LLC increased its holdings in shares of Broadcom by 67.2% in the 3rd quarter. Align Financial LLC now owns 112 shares of the semiconductor manufacturer’s stock valued at $38,000 after purchasing an additional 45 shares during the period. Finally, Curry Webb Wealth Management LLC acquired a new position in shares of Broadcom in the 3rd quarter valued at about $41,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Performance

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 stock has a market cap of $1.55 trillion, a P/E ratio of 41.58 and a beta of 1.49. Broadcom Inc. has a twelve month low of $289.96 and a twelve month high of $495.00. The company’s 50-day simple moving average is $350.73 and its 200 day simple moving average is $366.67.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 EPS 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. Broadcom’s revenue for the quarter was up 85.5% on a year-over-year basis. As a group, 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 announced 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 0.8%. The ex-dividend date of this dividend was Monday, September 21st. Broadcom’s dividend payout ratio (DPR) is 33.21%.

More Broadcom News

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

Wall Street Analyst Weigh In

Several research firms recently commented on AVGO. Piper Sandler began coverage on shares of Broadcom in a report on Wednesday, September 9th. They set an “overweight” rating and a $460.00 price target for the company. Jefferies Financial Group assumed coverage on shares of Broadcom in a research note on Thursday, September 3rd. They issued a “buy” rating and a $550.00 price objective on the stock. Oppenheimer assumed coverage on shares of Broadcom in a research report on Tuesday, October 27th. They issued a “buy” rating for the company. Cantor Fitzgerald lifted their target price on shares of Broadcom from $525.00 to $600.00 and gave the company an “overweight” rating in a research note on Thursday, September 3rd. Finally, UBS Group cut shares of Broadcom from a “hold” rating to a “neutral” rating in a report on Tuesday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $530.52.

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 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.