Broadcom Inc. $AVGO Shares Sold by Cabot Wealth Management Inc.

Cabot Wealth Management Inc. cut its position in Broadcom Inc. (NASDAQ:AVGO) by 8.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,375 shares of the semiconductor manufacturer’s stock after selling 1,869 shares during the quarter. Cabot Wealth Management Inc.’s holdings in Broadcom were worth $7,507,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in AVGO. Ritholtz Wealth Management lifted its stake in Broadcom by 1.5% during the third quarter. Ritholtz Wealth Management now owns 103,904 shares of the semiconductor manufacturer’s stock worth $36,490,000 after purchasing an additional 1,510 shares during the last quarter. UNIVEST FINANCIAL Corp increased its stake in shares of Broadcom by 5.5% in the 3rd quarter. UNIVEST FINANCIAL Corp now owns 148,026 shares of the semiconductor manufacturer’s stock valued at $51,985,000 after purchasing an additional 7,752 shares during the last quarter. NBH Bank increased its stake in shares of Broadcom by 3.8% in the 3rd quarter. NBH Bank now owns 6,223 shares of the semiconductor manufacturer’s stock valued at $2,185,000 after purchasing an additional 229 shares during the last quarter. Granville Capital Inc. increased its stake in shares of Broadcom by 10.9% in the 3rd quarter. Granville Capital Inc. now owns 3,878 shares of the semiconductor manufacturer’s stock valued at $1,362,000 after purchasing an additional 380 shares during the last quarter. Finally, Joel Isaacson & Co. LLC raised its holdings in shares of Broadcom by 7.6% during the 3rd quarter. Joel Isaacson & Co. LLC now owns 16,362 shares of the semiconductor manufacturer’s stock worth $5,746,000 after buying an additional 1,160 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on AVGO shares. Citigroup cut shares of Broadcom from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 27th. Tigress Financial started coverage on Broadcom in a research note on Thursday, October 22nd. They issued a “buy” rating and a $600.00 price target for the company. Sanford C. Bernstein reissued a “buy” rating on shares of Broadcom in a report on Monday, September 21st. Raymond James Financial restated an “outperform” rating and set a $475.00 price objective (up from $450.00) on shares of Broadcom in a research report on Thursday, September 3rd. Finally, HC Wainwright started coverage on Broadcom in a research report on Tuesday, October 27th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $525.19.

Broadcom Stock Down 4.8%

Shares of NASDAQ:AVGO opened at $347.01 on Friday. 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 $1.66 trillion, a price-to-earnings ratio of 44.32 and a beta of 1.49. Broadcom Inc. has a 12-month low of $289.77 and a 12-month high of $495.00. The business’s 50 day moving average is $345.39 and its 200 day moving average is $366.55.

Broadcom (NASDAQ:AVGO) last released its 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. The company had revenue of $29.59 billion for the quarter, compared to analysts’ expectations of $29.24 billion. Broadcom had a return on equity of 48.33% and a net margin of 42.94%. The business’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 business posted $1.69 EPS. On average, sell-side analysts forecast that Broadcom Inc. will post 10.20 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The business also recently disclosed 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 of this dividend was Monday, September 21st. This represents a $2.60 annualized dividend and a yield of 0.7%. Broadcom’s payout ratio is currently 33.21%.

Key Headlines Impacting Broadcom

These are some of the AVGO headlines that stood out recently:

• Positive Sentiment: Despite Rothschild & Co Redburn’s downgrade, the articles note that Wall Street’s average price target remains around $533, above the firm’s new $398 target. This suggests some analysts still see substantial upside. Is Rothschild & Co Redburn Wrong to Give Up on Broadcom?
• Neutral Sentiment: Broadcom had recently rallied as investors considered whether NVIDIA’s leadership turmoil could redirect demand to rival chipmakers. NVIDIA’s rebound on Friday, however, prompted some investors to reassess that rotation. AMD, Broadcom stocks fall as Nvidia rebounds
• Negative Sentiment: Rothschild & Co Redburn cut AVGO to Neutral from Buy and lowered its price target by 33%, from $595 to $398. It flagged risk from Broadcom’s growing exposure to AI financing arrangements, including reliance on AI companies such as Anthropic and OpenAI that are not yet self-funding. Broadcom stock falls as firm flags AI financing risks

About Broadcom

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.