31,377 Broadcom Inc. $AVGO Shares Bought by Oak Grove Capital LLC

Key Points

• Oak Grove Capital significantly increased its Broadcom stake by purchasing 31,377 additional shares, bringing its holdings to 32,344 shares valued at approximately $11.36 million.
• Institutional ownership remains high at 76.43%, with several major funds—including State Street, Legal & General, and Bank of New York Mellon—holding or expanding substantial positions.
• Broadcom reported strong quarterly results, with EPS of $3.32 and revenue of $29.59 billion, exceeding estimates; analysts maintain a “Moderate Buy” consensus with an average price target of $527.20.

Oak Grove Capital LLC raised its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3,244.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,344 shares of the semiconductor manufacturer's stock after purchasing an additional 31,377 shares during the quarter. Oak Grove Capital LLC's holdings in Broadcom were worth $11,359,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Legal & General Group Plc purchased a new stake in shares of Broadcom during the 2nd quarter valued at approximately $11,998,148,000. Bank of New York Mellon Corp acquired a new position in Broadcom in the second quarter valued at approximately $10,528,191,000. Jupiter Topco LLC purchased a new position in Broadcom in the second quarter worth approximately $7,396,271,000. State Street Corp grew its position in Broadcom by 8.7% in the second quarter. State Street Corp now owns 208,031,610 shares of the semiconductor manufacturer's stock worth $75,367,711,000 after acquiring an additional 16,651,378 shares during the period. Finally, Deutsche Bank AG purchased a new position in Broadcom in the second quarter worth approximately $5,661,216,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Cantor Fitzgerald raised their target price on Broadcom from $525.00 to $600.00 and gave the stock an "overweight" rating in a research note on Thursday, September 3rd. President Capital upped their price target on Broadcom from $520.00 to $546.00 and gave the company a "buy" rating in a research note on Thursday, September 3rd. Lake Street Capital upgraded Broadcom to a "buy" rating in a report on Thursday, September 3rd. Citigroup reiterated a "buy" rating and set a $515.00 price target (up from $500.00) on shares of Broadcom in a report on Friday, September 4th. Finally, Royal Bank Of Canada initiated coverage on Broadcom in a research report on Thursday, September 3rd. They set an "outperform" rating for the company. One investment analyst has rated the stock with a Strong Buy rating, thirty-seven have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $527.20.

Broadcom Stock Up 0.4%

Shares of Broadcom stock opened at $361.54 on Friday. Broadcom Inc. has a 52-week low of $289.96 and a 52-week high of $495.00. The company has a 50 day moving average of $371.24 and a 200 day moving average of $382.38. 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 company has a market capitalization of $1.73 trillion, a P/E ratio of 46.17 and a beta of 1.46.

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

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st were paid a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.7%. The ex-dividend date was Monday, September 21st. Broadcom's dividend payout ratio is currently 33.21%.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom is reportedly arranging more than $50 billion in financing for custom AI chips being developed with OpenAI. Although discussions are preliminary, the potential project underscores the scale of expected demand for Broadcom’s custom silicon and could support substantial future revenue. Broadcom seeks more than $50 billion to finance OpenAI AI chips
• Positive Sentiment: At the OCP Global Summit, Broadcom highlighted new networking technologies designed to help hyperscalers scale AI clusters. The announcements reinforce its positioning in high-speed networking and custom AI infrastructure. Broadcom AI networking innovations
• Positive Sentiment: Record profits at Samsung and TSMC are being viewed as evidence that semiconductor demand and AI-related capital spending remain strong, a favorable backdrop for Broadcom’s chip and networking businesses. Record profits at Samsung and TSMC
• Positive Sentiment: Analysts and commentators continue to point to Broadcom’s rapid AI revenue growth and its roughly 24% decline from its 52-week high as a potential entry point, despite expectations for strong earnings growth. Broadcom is lagging the market

Broadcom Company Profile

Broadcom Inc NASDAQ: AVGO is a global technology company that designs, develops, and supplies semiconductor and infrastructure software products. Its semiconductor solutions support wired and wireless communications, data center networking, broadband access, storage, industrial applications, and other markets.

The company's semiconductor portfolio includes networking and switching products, custom application-specific integrated circuits, wireless connectivity components, radio-frequency devices, optical components, and storage-related solutions.

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