Broadcom Inc. $AVGO Position Boosted by Boston Trust Walden Corp

Boston Trust Walden Corp increased its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 22.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 132,199 shares of the semiconductor manufacturer's stock after buying an additional 24,251 shares during the period. Boston Trust Walden Corp's holdings in Broadcom were worth $46,427,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Cornerstone Advisors LLC purchased a new stake in shares of Broadcom in the second quarter valued at approximately $92,522,000. GAMMA Investing LLC raised its stake in shares of Broadcom by 8.8% during the 3rd 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 period. ANB Bank purchased a new position in shares of Broadcom during the 3rd quarter valued at approximately $1,181,000. Bank of America Corp DE lifted its position in shares of Broadcom by 1.5% during the 1st 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 in the last quarter. Finally, Clear Harbor Asset Management LLC purchased a new position in shares of Broadcom during the 2nd quarter valued at approximately $3,302,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. The Goldman Sachs Group boosted their price target on shares of Broadcom from $525.00 to $540.00 and gave the stock a "buy" rating in a report on Thursday, September 3rd. Wedbush assumed coverage on shares of Broadcom in a research report on Tuesday, October 27th. They set an "outperform" rating for the company. Cantor Fitzgerald increased their price objective on shares of Broadcom from $525.00 to $600.00 and gave the company an "overweight" rating in a report on Thursday, September 3rd. Oppenheimer started coverage on shares of Broadcom in a research report on Tuesday, October 27th. They issued a "buy" rating on the stock. Finally, JPMorgan Chase & Co. reiterated a "buy" rating on shares of Broadcom 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 assigned a Hold rating to the company. According to MarketBeat.com, Broadcom has a consensus rating of "Moderate Buy" and an average price target of $530.52.

Broadcom News Roundup

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

Broadcom Stock Performance

NASDAQ AVGO opened at $293.69 on Friday. The company has a market cap of $1.40 trillion, a PE ratio of 37.51 and a beta of 1.49. The stock's 50 day simple moving average is $347.89 and its 200-day simple moving average is $366.17. Broadcom Inc. has a 1-year low of $289.77 and a 1-year high of $495.00. 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 issued its quarterly 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. Broadcom had a return on equity of 48.33% and a net margin of 42.94%. The firm had revenue of $29.59 billion for the quarter, compared to analyst estimates of $29.24 billion. During the same period in the previous year, the company posted $1.69 earnings per share. The business's revenue was up 85.5% on a year-over-year basis. As a group, equities research analysts anticipate that Broadcom Inc. will post 10.37 EPS for the current fiscal year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st were issued a $0.65 dividend. The ex-dividend date was Monday, September 21st. This represents a $2.60 dividend on an annualized basis and a yield of 0.9%. Broadcom's dividend payout ratio (DPR) is presently 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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