Broadcom Inc. $AVGO Stock Holdings Lowered by Westhampton Capital LLC

Westhampton Capital LLC lowered its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 9.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,646 shares of the semiconductor manufacturer’s stock after selling 2,579 shares during the period. Broadcom makes up approximately 3.8% of Westhampton Capital LLC’s portfolio, making the stock its 4th largest position. Westhampton Capital LLC’s holdings in Broadcom were worth $8,655,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the company. Core Capital Management & Research inc. purchased a new stake in Broadcom during the 2nd quarter valued at $31,000. DecisionPoint Financial LLC raised its stake in shares of Broadcom by 101.9% in the third quarter. DecisionPoint Financial LLC now owns 105 shares of the semiconductor manufacturer’s stock worth $36,000 after purchasing an additional 53 shares during the last quarter. Harborfront Financial Group LLC purchased a new position in shares of Broadcom in the second quarter worth $38,000. Align Financial LLC raised its stake in shares of Broadcom by 67.2% in the third quarter. Align Financial LLC now owns 112 shares of the semiconductor manufacturer’s stock worth $38,000 after purchasing an additional 45 shares during the last quarter. Finally, Curry Webb Wealth Management LLC bought a new position in shares of Broadcom during the third quarter valued at $41,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about Broadcom

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%

NASDAQ:AVGO opened at $293.69 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 12 month low of $289.77 and a 12 month high of $495.00. The company has a market cap of $1.40 trillion, a PE ratio of 37.51 and a beta of 1.49. The company has a 50 day simple moving average of $347.89 and a two-hundred day simple moving average of $366.17.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share for the quarter, beating 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 net margin of 42.94% and a return on equity of 48.33%. The company’s quarterly revenue was up 85.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.69 EPS. Research analysts forecast 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 issued a $0.65 dividend. The ex-dividend date of this dividend was Monday, September 21st. This represents a $2.60 annualized dividend and a dividend yield of 0.9%. Broadcom’s payout ratio is presently 33.21%.

Analysts Set New Price Targets

Several equities research analysts recently commented on AVGO shares. Tigress Financial initiated coverage on Broadcom in a research report on Thursday, October 22nd. They set a “buy” rating and a $600.00 price objective on the stock. Fox Advisors upgraded Broadcom to an “outperform” rating in a report on Thursday, September 3rd. BMO Capital Markets boosted their target price on Broadcom from $455.00 to $575.00 and gave the stock an “outperform” rating in a research report on Thursday, September 3rd. DA Davidson raised Broadcom from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $350.00 to $400.00 in a research report on Tuesday, October 27th. Finally, Royal Bank Of Canada initiated coverage on shares of Broadcom in a research note on Thursday, September 3rd. They set an “outperform” rating on the stock. One analyst has rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and a consensus price target 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.