1,552 Broadcom Inc. $AVGO Shares Purchased by Kohmann Bosshard Financial Services LLC

Key Points

• Kohmann Bosshard Financial Services increased its Broadcom holdings by 42.5% in the third quarter, buying 1,552 shares to reach 5,205 shares valued at $1.83 million.
• Analysts have a consensus “Moderate Buy” rating on Broadcom, with an average price target of $530.52.
• Broadcom reported quarterly earnings of $3.32 per share, topping estimates of $3.22, while revenue rose 85.5% year over year to $29.59 billion.

Kohmann Bosshard Financial Services LLC lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 42.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,205 shares of the semiconductor manufacturer's stock after purchasing an additional 1,552 shares during the period. Kohmann Bosshard Financial Services LLC's holdings in Broadcom were worth $1,828,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Cornerstone Advisors LLC acquired a new position in shares of Broadcom in the 2nd quarter worth approximately $92,522,000. GAMMA Investing LLC boosted its stake in shares of Broadcom by 8.8% in the 3rd quarter. GAMMA Investing LLC now owns 164,015 shares of the semiconductor manufacturer's stock valued at $55,889,000 after purchasing an additional 13,317 shares during the last quarter. ANB Bank acquired a new stake in shares of Broadcom during the third quarter worth $1,181,000. Bank of America Corp DE increased its position in shares of Broadcom by 1.5% during the first quarter. Bank of America Corp DE now owns 58,737,097 shares of the semiconductor manufacturer's stock worth $18,179,719,000 after buying an additional 894,564 shares during the period. Finally, Clear Harbor Asset Management LLC acquired a new stake in shares of Broadcom during the second quarter worth $3,302,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AVGO. Jefferies Financial Group began coverage on shares of Broadcom in a report on Thursday, September 3rd. They issued a "buy" rating and a $550.00 target price on the stock. Arete Research increased their price target on Broadcom from $488.00 to $530.00 and gave the stock a "buy" rating in a report on Tuesday, July 21st. UBS Group lowered Broadcom from a "hold" rating to a "neutral" rating in a research report on Tuesday, October 27th. Truist Financial dropped their price objective on Broadcom from $550.00 to $520.00 and set a "buy" rating on the stock in a research note on Thursday, September 3rd. Finally, JPMorgan Chase & Co. reissued a "buy" rating on shares of Broadcom in a research note on Thursday, September 3rd. One analyst has rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $530.52.

Broadcom News Summary

Investors following AVGO have been watching these news items:

• Positive Sentiment: Broadcom shares rose more than 3% in extended trading as turmoil around Nvidia’s CEO sent investors toward rival chipmakers, including Broadcom. Nvidia Stock Sinks as Jensen Huang Ouster Report Sends Investors Toward AMD, Broadcom
• Positive Sentiment: Coverage of Anthropic points to substantial cash and rising revenue as support for its large commitment involving Broadcom, bolstering confidence in the AI partnership and related chip demand. Anthropic's S-1 Strengthens the Case for Broadcom's AI Growth
• Neutral Sentiment: Some commentary views Broadcom as a potential beneficiary of continued AI investment, while noting that its shares have retreated from earlier highs. Am I Buying the Dip in Broadcom Stock?

Broadcom Stock Up 4.0%

Shares of NASDAQ:AVGO opened at $345.22 on Thursday. The business's 50 day simple moving average is $345.65 and its two-hundred day simple moving average is $366.28. The firm has a market cap of $1.65 trillion, a P/E ratio of 44.09 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. Broadcom Inc. has a 52-week low of $289.77 and a 52-week high of $495.00.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 EPS for the quarter, beating analysts' consensus estimates of $3.22 by $0.10. The firm had revenue of $29.59 billion during 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 company's revenue for the quarter was up 85.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.69 earnings per share. As a group, research analysts forecast that Broadcom Inc. will post 10.37 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st were issued a dividend of $0.65 per share. The ex-dividend date was Monday, September 21st. This represents a $2.60 annualized dividend and a yield of 0.8%. Broadcom's dividend payout ratio is presently 33.21%.

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.

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