Broadcom Inc. $AVGO Shares Bought by VCI Wealth Management LLC

Key Points

• VCI Wealth Management increased its Broadcom stake by 8.4% in the third quarter, adding 1,782 shares to reach 22,919 shares valued at about $8.05 million.
• Broadcom reported quarterly revenue of $29.59 billion and EPS of $3.32, both above analyst estimates; related coverage said AI semiconductor revenue reached $16.7 billion and management expects further growth.
• Analysts maintained a broadly positive outlook, with MarketBeat reporting a “Moderate Buy” consensus and an average price target of $530.52, although the stock’s reported Friday opening price of $291.53 was near its one-year low.

VCI Wealth Management LLC increased its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 8.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,919 shares of the semiconductor manufacturer's stock after acquiring an additional 1,782 shares during the quarter. Broadcom makes up about 1.9% of VCI Wealth Management LLC's investment portfolio, making the stock its 15th largest position. VCI Wealth Management LLC's holdings in Broadcom were worth $8,049,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AVGO. Yukon Wealth Management Inc. raised its holdings in shares of Broadcom by 1.1% in the 1st quarter. Yukon Wealth Management Inc. now owns 2,501 shares of the semiconductor manufacturer's stock valued at $774,000 after purchasing an additional 26 shares in the last quarter. NerdWallet Wealth Partners LLC lifted its position in shares of Broadcom by 2.6% in the 2nd 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 during the period. Veery Capital LLC lifted its position 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 worth $718,000 after purchasing an additional 27 shares during the period. Ridgeline Wealth Planning LLC boosted its stake in shares of Broadcom by 2.1% during the second quarter. Ridgeline Wealth Planning LLC now owns 1,302 shares of the semiconductor manufacturer's stock valued at $492,000 after purchasing an additional 27 shares in the last quarter. Finally, Capital Planning LLC boosted its stake in shares of Broadcom by 0.7% during the first quarter. Capital Planning LLC now owns 4,044 shares of the semiconductor manufacturer's stock valued at $1,252,000 after purchasing an additional 28 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s AI semiconductor revenue reached $16.7 billion last quarter, above its $16 billion target, and management expects higher AI revenue next quarter. That outlook supports the case that demand remains strong despite concerns about competition. Article: Is Broadcom Stock a Buy Now?
• Positive Sentiment: Broadcom was included on Bank of America’s “global defenders” list, while ETFs reportedly added about $267.7 million of AVGO shares on Nov. 2—potential signs of institutional interest. Article: BofA adds TSLA, AVGO, IBM, others to its global defenders list Article: 53 ETFs Add to Broadcom Holdings
• Neutral Sentiment: Some recent commentary sees a possible turning point, arguing that the disconnect between falling shares and fast-growing AI revenue may not persist. This is an analyst view, not a confirmed catalyst. Article: Broadcom Stock Could Be Approaching a Major Turning Point
• Negative Sentiment: The immediate headwind is a broader chip-stock rout, with investors increasingly worried that AI regulation and constraints on data-center development could curb future spending. Coverage also points to a Texas permit freeze as a potential source of uncertainty for AI infrastructure demand. Article: Broadcom Sinks as AI Regulation Fears Deepen Chip Rout Article: Steve Weiss Says the Midterms Just Put a Lid on AI Spending

Broadcom Stock Performance

AVGO stock opened at $291.53 on Friday. The firm has a market cap of $1.39 trillion, a price-to-earnings ratio of 37.23 and a beta of 1.49. The firm has a 50-day simple moving average of $349.45 and a two-hundred day simple moving average of $366.37. Broadcom Inc. has a one year low of $289.96 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.

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, beating analysts' consensus estimates of $3.22 by $0.10. Broadcom had a net margin of 42.94% and a return on equity of 48.33%. The business had revenue of $29.59 billion for the quarter, compared to analysts' expectations of $29.24 billion. During the same period last year, the business earned $1.69 EPS. The company's revenue was up 85.5% compared to the same quarter last year. On average, equities analysts forecast 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. Investors of record on Monday, September 21st were given a dividend of $0.65 per share. The ex-dividend date of this dividend 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 is presently 33.21%.

Analysts Set New Price Targets

Several brokerages recently issued reports on AVGO. Cantor Fitzgerald lifted 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. Lake Street Capital upgraded Broadcom to a "buy" rating in a report on Thursday, September 3rd. Rosenblatt Securities restated a "buy" rating and set a $600.00 target price on shares of Broadcom in a report on Tuesday, October 27th. William Blair cut Broadcom from an "outperform" rating to a "market perform" rating in a research report on Tuesday, October 27th. Finally, Wedbush began coverage on Broadcom in a report on Tuesday, October 27th. They issued an "outperform" rating on the stock. One analyst has rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $530.52.

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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