Broadcom Inc. $AVGO Shares Acquired by Brooklyn FI LLC

Key Points

• Brooklyn FI LLC increased its Broadcom stake by 499.5% in the third quarter, adding 2,907 shares to reach 3,489 shares valued at about $1.136 million.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $530.52; 39 analysts rate the stock Buy, one Strong Buy, and five Hold.
• Broadcom beat quarterly earnings and revenue estimates, reporting $3.32 in earnings per share and $29.59 billion in revenue; revenue rose 85.5% year over year.

Brooklyn FI LLC increased its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 499.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,489 shares of the semiconductor manufacturer's stock after acquiring an additional 2,907 shares during the quarter. Brooklyn FI LLC's holdings in Broadcom were worth $1,136,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. NerdWallet Wealth Partners LLC boosted its position in shares of Broadcom by 2.6% during the second quarter. NerdWallet Wealth Partners LLC now owns 1,057 shares of the semiconductor manufacturer's stock worth $399,000 after purchasing an additional 27 shares in the last quarter. Veery Capital LLC grew its holdings in shares of Broadcom by 1.4% in the 2nd quarter. Veery Capital LLC now owns 1,900 shares of the semiconductor manufacturer's stock valued at $718,000 after buying an additional 27 shares during the period. Ridgeline Wealth Planning LLC increased its position in shares of Broadcom by 2.1% in the 2nd quarter. Ridgeline Wealth Planning LLC now owns 1,302 shares of the semiconductor manufacturer's stock valued at $492,000 after buying an additional 27 shares in the last quarter. Meridian Management Co. increased its position in shares of Broadcom by 0.3% in the 1st quarter. Meridian Management Co. now owns 9,425 shares of the semiconductor manufacturer's stock valued at $2,917,000 after buying an additional 28 shares in the last quarter. Finally, Arkansas Financial Group Inc. raised its stake in Broadcom by 3.5% during the 2nd quarter. Arkansas Financial Group Inc. now owns 866 shares of the semiconductor manufacturer's stock worth $327,000 after buying an additional 29 shares during the period. Institutional investors and hedge funds own 76.43% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on AVGO. Piper Sandler began coverage on Broadcom in a report on Wednesday, September 9th. They set an "overweight" rating and a $460.00 target price on the stock. Rosenblatt Securities reiterated a "buy" rating and set a $600.00 price objective on shares of Broadcom in a report on Tuesday, October 27th. HSBC decreased their price objective on Broadcom from $600.00 to $560.00 and set a "buy" rating for the company in a research report on Thursday, September 3rd. UBS Group cut Broadcom from a "hold" rating to a "neutral" rating in a research note on Tuesday, October 27th. Finally, Truist Financial dropped their target price on shares of Broadcom from $550.00 to $520.00 and set a "buy" rating on the stock in a report on Thursday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Broadcom presently has a consensus rating of "Moderate Buy" and a consensus price target of $530.52.

Broadcom News Roundup

Here's some of the latest news about AVGO:

• Positive Sentiment: Investors are rotating toward rival chipmakers as uncertainty around Nvidia creates a potential opening for Broadcom to win more AI-chip business. Broadcom’s custom-chip focus positions it to benefit if hyperscalers expand alternatives to Nvidia’s products. Why Broadcom Stock Rallied Thursday Morning
• Positive Sentiment: Industry spending remains a supportive backdrop: analyst estimates for hyperscaler capital expenditures have risen sharply, suggesting continued investment in AI infrastructure that could underpin demand for Broadcom’s custom chips and related systems. Great News for Nvidia, Micron, Broadcom, and AMD Stock Investors
• Negative Sentiment: Potentially tighter U.S. export controls and hardware-tracking rules could add compliance costs and delay international AI deployments. Such restrictions may affect Broadcom and other semiconductor suppliers, even if demand for AI infrastructure remains strong. Midterm Fallout, NVIDIA Turmoil, Anthropic’s IPO: Is Broadcom a Steal?

Broadcom Stock Up 5.5%

Shares of Broadcom stock opened at $364.36 on Friday. The firm has a market cap of $1.74 trillion, a PE ratio of 46.53 and a beta of 1.49. The business's 50 day simple moving average is $345.59 and its 200 day simple moving average is $366.48. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.29 and a current ratio of 2.50. Broadcom Inc. has a 52-week low of $289.77 and a 52-week high of $495.00.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share for the quarter, topping analysts' consensus estimates of $3.22 by $0.10. The firm had revenue of $29.59 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.69 EPS. On average, analysts predict that Broadcom Inc. will post 10.20 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

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

Broadcom Company 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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