Broadcom Inc. $AVGO Position Boosted by Lmcg Investments LLC

Key Points

• Lmcg Investments increased its Broadcom position by 9.8% in the third quarter, owning 39,273 shares valued at approximately $13.8 million. Institutional investors collectively hold 76.43% of Broadcom’s outstanding stock.
• Analysts remain broadly bullish, with 38 Buy ratings, one Strong Buy and three Holds; Broadcom has a consensus “Moderate Buy” rating and an average price target of $529.17.
• Broadcom reported quarterly EPS of $3.32 and revenue of $29.59 billion, exceeding estimates, while revenue rose 85.5% year over year. However, Alphabet’s supplier diversification, rising competition and broader concerns over AI investment returns pose risks to its AI-chip business.

Lmcg Investments LLC boosted its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 9.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,273 shares of the semiconductor manufacturer's stock after purchasing an additional 3,505 shares during the quarter. Lmcg Investments LLC's holdings in Broadcom were worth $13,792,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. State Street Corp boosted its position in shares of 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 buying an additional 16,651,378 shares during the period. Bank of America Corp DE increased its stake in shares of Broadcom by 4.6% in the second quarter. Bank of America Corp DE now owns 61,423,013 shares of the semiconductor manufacturer's stock worth $23,202,543,000 after purchasing an additional 2,685,916 shares during the period. Wellington Management Group LLP raised its stake in Broadcom by 3.8% during the 2nd quarter. Wellington Management Group LLP now owns 51,580,703 shares of the semiconductor manufacturer's stock valued at $19,484,611,000 after purchasing an additional 1,892,721 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Broadcom by 2.9% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 40,180,530 shares of the semiconductor manufacturer's stock worth $15,178,195,000 after acquiring an additional 1,140,598 shares during the period. Finally, Legal & General Group Plc acquired a new stake in shares of Broadcom during the 2nd quarter valued at about $11,998,148,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Wall Street Analyst Weigh In

AVGO has been the subject of a number of research reports. DA Davidson set a $350.00 price target on shares of Broadcom and gave the company a "neutral" rating in a report on Friday, September 4th. TD Cowen restated a "buy" rating and issued a $475.00 price target (down from $500.00) on shares of Broadcom in a report on Thursday, September 3rd. JPMorgan Chase & Co. reissued a "buy" rating on shares of Broadcom in a report on Thursday, September 3rd. Wall Street Zen downgraded shares of Broadcom from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 18th. Finally, KeyCorp reaffirmed an "overweight" rating and issued a $575.00 price objective on shares of Broadcom in a report on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $529.17.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: ETF investors bought approximately $89.8 million of Broadcom shares on October 21, signaling continued institutional demand. Broadcom Sees $89.8 Million in Net ETF Buying
• Positive Sentiment: Analysts continue to highlight Broadcom’s leadership in custom AI accelerators. Demand from major AI labs and hyperscalers, including Anthropic, OpenAI and Meta, supports management’s ambitious long-term AI semiconductor growth outlook. 3 Magnificent AI Chip Stocks
• Positive Sentiment: Tigress Financial initiated coverage with a Buy rating and a $600 price target, implying substantial upside from recent trading levels. Tigress Financial Broadcom Coverage
• Positive Sentiment: Broadcom launched Arcot Scam Defense, a real-time fraud-detection feature for digital payments. Strong initial pilot results could create incremental growth for its software and security businesses. Broadcom Debuts Arcot Scam Defense
• Neutral Sentiment: Broadcom remains the leading custom-chip design partner, but Alphabet is diversifying its TPU suppliers. Although Broadcom may lose market share, the overall AI accelerator market is expected to expand rapidly, potentially offsetting that loss. Broadcom AI Chip Business Risks
• Negative Sentiment: Investors are worried that customer-owned chip design and increased competition from MediaTek could reduce Broadcom’s role and margins in future AI programs. Alphabet’s supplier diversification is the clearest near-term risk. Broadcom AI Chip Business Risks
• Negative Sentiment: The broader market sell-off is weighing on AI stocks amid higher oil prices, inflation concerns and questions about whether massive data-center investments will generate sufficient returns. Technical commentary identifies the $320 area as an important support test. Broadcom Faces Critical $320 Test

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $321.68 on Monday. The stock has a market capitalization of $1.54 trillion, a P/E ratio of 41.08 and a beta of 1.46. 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 firm's 50 day simple moving average is $356.05 and its two-hundred day simple moving average is $384.74. Broadcom Inc. has a one year low of $289.96 and a one year high of $495.00.

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, topping the consensus estimate of $3.22 by $0.10. The firm had revenue of $29.59 billion during the quarter, compared to analyst estimates of $29.24 billion. Broadcom had a return on equity of 48.33% and a net margin of 42.94%. The business's revenue was up 85.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.69 EPS. As a group, analysts expect that Broadcom Inc. will post 10.37 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, September 21st. Broadcom's payout ratio is 33.21%.

About Broadcom

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

The company's semiconductor portfolio includes networking and switching components, custom accelerators, connectivity and wireless devices, broadband equipment, optical products, storage controllers and related infrastructure technologies.

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