Associated Banc Corp Buys 4,030 Shares of Broadcom Inc. $AVGO

Associated Banc Corp acquired a new stake in Broadcom Inc. (NASDAQ:AVGO) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 4,030 shares of the semiconductor manufacturer’s stock, valued at approximately $1,415,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Core Capital Management & Research inc. bought a new stake in shares of Broadcom during the second quarter valued at approximately $31,000. DecisionPoint Financial LLC raised its holdings in shares of Broadcom by 101.9% during the third quarter. DecisionPoint Financial LLC now owns 105 shares of the semiconductor manufacturer’s stock worth $36,000 after acquiring an additional 53 shares in the last quarter. Harborfront Financial Group LLC bought a new position in shares of Broadcom during the second quarter valued at $38,000. Align Financial LLC raised its holdings in shares of Broadcom by 67.2% during the third quarter. Align Financial LLC now owns 112 shares of the semiconductor manufacturer’s stock worth $38,000 after acquiring an additional 45 shares during the period. Finally, Curry Webb Wealth Management LLC bought a new stake in Broadcom during the third quarter worth about $41,000. 76.43% of the stock is owned by institutional investors.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s AI semiconductor revenue is surging, and management sees significant growth potential over the next several years. One analysis argues that the market may not yet reflect that opportunity; another estimates the shares could be undervalued. Prediction: November Will Be a Huge Month for Broadcom Broadcom Stock Could Be 37% Undervalued
• Neutral Sentiment: Some coverage frames the recent pullback as a potential turning point, with a widening gap between AI business growth and the share-price trend. Whether fundamentals prompt a recovery remains uncertain. Broadcom Stock Could Be Approaching a Major Turning Point
• Negative Sentiment: Near-term risks include the broad AI-chip selloff and worries that higher interest rates could curb AI spending. Potential limits on new data-center permits in some states add uncertainty about future infrastructure buildouts. Broadcom’s AI Revenue Is Exploding. Here’s What Investors Should Watch Next. Broadcom Drops Amid Broad Chip Selloff
• Negative Sentiment: Investor positioning has also weighed on sentiment: ARK sold a large Broadcom holding during the selloff while buying Nvidia. Broadcom is still down sharply over the past month, despite the recent lift. ARK Buys Nvidia and Sells Broadcom Broadcom Is Still Down 22% in the Past Month

Broadcom Trading Up 0.7%

Broadcom stock opened at $293.69 on Friday. The stock has a market cap of $1.40 trillion, a P/E ratio of 37.51 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 price is $347.89 and its 200-day moving average price is $366.17. Broadcom Inc. has a fifty-two week low of $289.77 and a fifty-two week high of $495.00.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.22 by $0.10. Broadcom had a net margin of 42.94% and a return on equity of 48.33%. The firm had revenue of $29.59 billion for the quarter, compared to the consensus estimate of $29.24 billion. During the same quarter in the prior year, the company posted $1.69 earnings per share. The company’s revenue for the quarter was up 85.5% compared to the same quarter last year. Equities research analysts forecast that Broadcom Inc. will post 10.37 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st were given a $0.65 dividend. The ex-dividend date was Monday, September 21st. This represents a $2.60 dividend on an annualized basis and a yield of 0.9%. Broadcom’s dividend payout ratio (DPR) is currently 33.21%.

Analysts Set New Price Targets

AVGO has been the topic of several recent research reports. Lake Street Capital upgraded shares of Broadcom to a “buy” rating in a research note on Thursday, September 3rd. Weiss Ratings upgraded shares of Broadcom from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Fox Advisors upgraded shares of Broadcom to an “outperform” rating in a research report on Thursday, September 3rd. BNP Paribas Exane raised their price objective on Broadcom from $675.00 to $715.00 and gave the company an “outperform” rating in a research report on Friday, September 4th. Finally, Raymond James Financial restated an “outperform” rating and set a $475.00 target price (up from $450.00) on shares of Broadcom in a research report on Thursday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and an average target price of $530.52.

Broadcom 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.