2,857 Broadcom Inc. $AVGO Shares Purchased by Kestra Investment Management LLC

Key Points

• Kestra Investment Management increased its Broadcom stake by 11.4%, buying 2,857 shares in the third quarter. It now holds 27,974 shares valued at about $9.8 million.
• Institutional ownership stands at 76.43%. Analysts have a Moderate Buy consensus rating and an average price target of $530.52.
• Broadcom beat quarterly earnings and revenue estimates, reporting $3.32 per share and $29.59 billion in revenue; revenue rose 85.5% year over year.

Kestra Investment Management LLC raised its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 11.4% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 27,974 shares of the semiconductor manufacturer's stock after acquiring an additional 2,857 shares during the period. Kestra Investment Management LLC's holdings in Broadcom were worth $9,824,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Cornerstone Advisors LLC bought a new position in shares of Broadcom in the second quarter valued at $92,522,000. GAMMA Investing LLC increased its position in Broadcom by 8.8% during the third quarter. GAMMA Investing LLC now owns 164,015 shares of the semiconductor manufacturer's stock worth $55,889,000 after buying an additional 13,317 shares during the last quarter. ANB Bank bought a new stake in Broadcom in the third quarter valued at approximately $1,181,000. Bank of America Corp DE raised its stake in Broadcom by 1.5% in the first quarter. Bank of America Corp DE now owns 58,737,097 shares of the semiconductor manufacturer's stock valued at $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 in the second quarter valued at approximately $3,302,000. Institutional investors own 76.43% of the company's stock.

Key Stories Impacting Broadcom

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

• 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: Analysts say Google’s latest TPU developments reinforce Broadcom’s central role in custom AI chips, supporting expectations for ongoing demand from major technology customers. Google's latest TPUs show Broadcom remains central: JPM
• Negative Sentiment: Risks include Broadcom’s valuation and the possibility that debt-financed AI infrastructure spending could expose the company to credit risk if demand or customer finances weaken. Broadcom: A Great TPU Business With a New Kind of Credit Risk Attached

Analyst Ratings Changes

A number of research firms recently weighed in on AVGO. HSBC decreased their target price on Broadcom from $600.00 to $560.00 and set a "buy" rating on the stock in a report on Thursday, September 3rd. Oppenheimer started coverage on Broadcom in a research note on Tuesday, October 27th. They issued a "buy" rating on the stock. Truist Financial cut their price target on Broadcom from $550.00 to $520.00 and set a "buy" rating for the company in a report on Thursday, September 3rd. Jefferies Financial Group began coverage on shares of Broadcom in a research report on Thursday, September 3rd. They set a "buy" rating and a $550.00 price objective for the company. Finally, President Capital upped their price objective on shares of Broadcom from $520.00 to $546.00 and gave the company a "buy" rating in a report on Thursday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $530.52.

Broadcom Stock Up 4.0%

AVGO opened at $345.22 on Thursday. Broadcom Inc. has a fifty-two week low of $289.77 and a fifty-two week high of $495.00. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.29 and a current ratio of 2.50. The company has a market capitalization of $1.65 trillion, a P/E ratio of 44.09 and a beta of 1.49. The stock has a fifty day moving average of $345.65 and a 200-day moving average of $366.28.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share (EPS) for the quarter, beating 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 company 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 business posted $1.69 earnings per share. Broadcom's quarterly revenue was up 85.5% on a year-over-year basis. On average, equities analysts expect that Broadcom Inc. will post 10.37 EPS for the current 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 paid a $0.65 dividend. The ex-dividend date was Monday, September 21st. This represents a $2.60 annualized dividend and a yield of 0.8%. Broadcom's payout ratio is 33.21%.

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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