Broadcom Inc. $AVGO Shares Bought by M&G PLC

Key Points

• M&G PLC increased its Broadcom stake by 12.8% in the third quarter, adding 206,349 shares to bring its holdings to 1.81 million shares, valued at about $636.3 million.
• Analyst sentiment is broadly positive: Broadcom has a consensus “Moderate Buy” rating and an average price target of $530.52, though one analyst recently downgraded the stock to “Market Perform.”
• Broadcom’s latest quarterly results topped expectations, with EPS of $3.32 and revenue of $29.59 billion; revenue rose 85.5% year over year.

M&G PLC grew its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 12.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,812,692 shares of the semiconductor manufacturer's stock after buying an additional 206,349 shares during the quarter. Broadcom accounts for 3.2% of M&G PLC's investment portfolio, making the stock its 5th largest position. M&G PLC's holdings in Broadcom were worth $636,255,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Core Capital Management & Research inc. acquired a new stake in Broadcom in the 2nd quarter valued at $31,000. Harborfront Financial Group LLC acquired a new position in Broadcom during the second quarter worth $38,000. DecisionPoint Financial LLC raised its position in Broadcom by 101.9% during the third quarter. DecisionPoint Financial LLC now owns 105 shares of the semiconductor manufacturer's stock worth $36,000 after acquiring an additional 53 shares during the period. Align Financial LLC raised its position in Broadcom by 67.2% during the third quarter. Align Financial LLC now owns 112 shares of the semiconductor manufacturer's stock worth $38,000 after acquiring an additional 45 shares during the period. Finally, Curry Webb Wealth Management LLC purchased a new position in Broadcom during the third quarter valued at $41,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on AVGO shares. DA Davidson upgraded shares of Broadcom from a "neutral" rating to a "buy" rating and lifted their target price for the company from $350.00 to $400.00 in a research report on Tuesday, October 27th. Oppenheimer assumed coverage on shares of Broadcom in a research note on Tuesday, October 27th. They set a "buy" rating for the company. HC Wainwright assumed coverage on shares of Broadcom in a research report on Tuesday, October 27th. They set a "buy" rating for the company. BMO Capital Markets raised their price target on shares of Broadcom from $455.00 to $575.00 and gave the company an "outperform" rating in a research note on Thursday, September 3rd. Finally, William Blair cut Broadcom from an "outperform" rating to a "market perform" rating in a report on Tuesday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Broadcom has a consensus rating of "Moderate Buy" and an average price target of $530.52.

Broadcom Stock Up 4.0%

NASDAQ AVGO opened at $345.22 on Thursday. The business has a fifty day moving average price of $345.65 and a 200 day moving average price of $366.28. Broadcom Inc. has a one year low of $289.77 and a one year 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 cap of $1.65 trillion, a P/E ratio of 44.09 and a beta of 1.49.

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. Broadcom had a net margin of 42.94% and a return on equity of 48.33%. The company had revenue of $29.59 billion for the quarter, compared to analysts' expectations of $29.24 billion. During the same quarter in the previous year, the company posted $1.69 EPS. The firm's quarterly revenue was up 85.5% on a year-over-year basis. Research analysts anticipate that Broadcom Inc. will post 10.37 EPS for the current fiscal year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st were paid 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 dividend payout ratio (DPR) is currently 33.21%.

Key Headlines Impacting Broadcom

Here are a few of the latest headlines about AVGO:

• 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

Broadcom 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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