1,788 Broadcom Inc. $AVGO Shares Acquired by Watershed Private Wealth LLC

Key Points

• Watershed Private Wealth increased its Broadcom stake 107.7% in the third quarter, buying 1,788 shares to hold 3,448 shares valued at about $1.21 million.
• Analyst sentiment is broadly positive: Broadcom has a “Moderate Buy” consensus rating and an average price target of $530.52, based on 39 Buy and five Hold ratings, plus one Strong Buy.
• Broadcom’s latest reported quarterly results beat estimates, with EPS of $3.32 and revenue of $29.59 billion; revenue rose 85.5% year over year. The company also pays an annualized dividend of $2.60 per share.

Watershed Private Wealth LLC increased its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 107.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,448 shares of the semiconductor manufacturer's stock after purchasing an additional 1,788 shares during the quarter. Watershed Private Wealth LLC's holdings in Broadcom were worth $1,211,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Core Capital Management & Research inc. acquired a new position in shares of Broadcom in the second quarter worth about $31,000. Harborfront Financial Group LLC acquired a new stake in shares of Broadcom during the second quarter valued at approximately $38,000. 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 valued at $36,000 after acquiring an additional 53 shares during the period. 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 valued at $38,000 after acquiring an additional 45 shares during the period. Finally, Curry Webb Wealth Management LLC purchased a new stake in shares of Broadcom in the 3rd quarter valued at approximately $41,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on AVGO. Rosenblatt Securities reaffirmed a "buy" rating and issued a $600.00 price objective on shares of Broadcom in a research note on Tuesday, October 27th. President Capital boosted their target price on shares of Broadcom from $520.00 to $546.00 and gave the company a "buy" rating in a research note on Thursday, September 3rd. Raymond James Financial restated an "outperform" rating and issued a $475.00 target price (up from $450.00) on shares of Broadcom in a report on Thursday, September 3rd. Fox Advisors upgraded Broadcom to an "outperform" rating in a report on Thursday, September 3rd. Finally, Oppenheimer began coverage on Broadcom in a research report on Tuesday, October 27th. They issued a "buy" rating for the company. 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. According to data from MarketBeat.com, Broadcom currently has a consensus rating of "Moderate Buy" and an average price target of $530.52.

Broadcom Stock Up 0.7%

AVGO traded up $2.16 on Friday, reaching $293.69. 32,366,942 shares of the company traded hands, compared to its average volume of 22,165,412. The stock's 50 day moving average price is $347.89 and its 200-day moving average price is $366.17. Broadcom Inc. has a 52-week low of $289.77 and a 52-week high of $495.00. The company has a market cap of $1.40 trillion, a price-to-earnings ratio of 37.51 and a beta of 1.49. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.29.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.22 by $0.10. The company had revenue of $29.59 billion during the quarter, compared to the consensus estimate of $29.24 billion. Broadcom had a net margin of 42.94% and a return on equity of 48.33%. The company's revenue was up 85.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.69 EPS. On average, sell-side analysts expect that Broadcom Inc. will post 10.37 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st were paid a $0.65 dividend. The ex-dividend date of this dividend was Monday, September 21st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.9%. Broadcom's dividend payout ratio is 33.21%.

Key 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

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.

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