2,226 Shares in Broadcom Inc. $AVGO Purchased by First Nebraska Trust Co

Key Points

• First Nebraska Trust Co. opened a Broadcom position in the third quarter, buying 2,226 shares valued at approximately $782,000.
• Several other institutional investors also increased their Broadcom holdings; institutional investors collectively own 76.43% of the company’s stock.
• Broadcom beat quarterly earnings and revenue expectations, reporting $3.32 in EPS and $29.59 billion in revenue. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $530.52.

First Nebraska Trust Co acquired a new position in Broadcom Inc. (NASDAQ:AVGO - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,226 shares of the semiconductor manufacturer's stock, valued at approximately $782,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. IPG Investment Advisors LLC lifted its stake in shares of Broadcom by 22.6% in the 3rd quarter. IPG Investment Advisors LLC now owns 24,882 shares of the semiconductor manufacturer's stock valued at $8,738,000 after purchasing an additional 4,592 shares during the last quarter. Torray Investment Partners LLC lifted its stake in Broadcom by 17.2% in the third quarter. Torray Investment Partners LLC now owns 118,929 shares of the semiconductor manufacturer's stock valued at $41,767,000 after buying an additional 17,461 shares in the last quarter. Legacy Wealth Management LLC MS increased its holdings in Broadcom by 0.4% in the 3rd quarter. Legacy Wealth Management LLC MS now owns 8,766 shares of the semiconductor manufacturer's stock valued at $3,079,000 after buying an additional 32 shares during the period. Tucker Asset Management LLC increased its stake in Broadcom by 10.8% during the 3rd quarter. Tucker Asset Management LLC now owns 1,168 shares of the semiconductor manufacturer's stock valued at $410,000 after purchasing an additional 114 shares in the last quarter. Finally, Bauman Advisory Group LLC grew its stake in Broadcom by 6.8% in the 3rd quarter. Bauman Advisory Group LLC now owns 1,018 shares of the semiconductor manufacturer's stock worth $358,000 after buying an additional 65 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Key Stories Impacting 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

Wall Street Analysts Forecast Growth

AVGO has been the subject of a number of research analyst reports. Jefferies Financial Group initiated coverage on shares of Broadcom in a report on Thursday, September 3rd. They issued a "buy" rating and a $550.00 price target for the company. Truist Financial lowered their price objective on shares of Broadcom from $550.00 to $520.00 and set a "buy" rating for the company in a research report on Thursday, September 3rd. BMO Capital Markets upped their target price on shares of Broadcom from $455.00 to $575.00 and gave the stock an "outperform" rating in a research note on Thursday, September 3rd. Arete Research upped their price objective on Broadcom from $488.00 to $530.00 and gave the company a "buy" rating in a research report on Tuesday, July 21st. Finally, Cantor Fitzgerald upped their price target on shares of Broadcom from $525.00 to $600.00 and gave the stock an "overweight" rating in a research report 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 stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $530.52.

Broadcom Trading Up 0.7%

NASDAQ:AVGO opened at $293.69 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.29. The company's 50-day simple moving average is $347.89 and its 200 day simple moving average is $366.17. Broadcom Inc. has a one year low of $289.77 and a one year high of $495.00. The firm has a market capitalization of $1.40 trillion, a P/E ratio of 37.51 and a beta of 1.49.

Broadcom (NASDAQ:AVGO - Get Free Report) 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. Broadcom had a net margin of 42.94% and a return on equity of 48.33%. The business had revenue of $29.59 billion during the quarter, compared to analysts' expectations of $29.24 billion. During the same quarter in the previous year, the company earned $1.69 earnings per share. The company's quarterly revenue was up 85.5% on a year-over-year basis. As a group, analysts forecast that Broadcom Inc. will post 10.37 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st were paid a dividend of $0.65 per share. 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 dividend payout ratio (DPR) 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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