Broadcom Inc. $AVGO Shares Newly Acquired by Bingham Private Wealth LLC

Key Points

• Bingham Private Wealth LLC acquired 10,654 Broadcom shares in the third quarter, valued at approximately $3.74 million. The position represents 2.3% of its portfolio and is its ninth-largest holding.
• Broadcom reported quarterly EPS of $3.32, beating estimates of $3.22, while revenue rose 85.5% year over year to $29.59 billion.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $525.19. Rothschild & Co Redburn downgraded the stock to Neutral and cut its target to $398, citing risks tied to AI financing exposure.

Bingham Private Wealth LLC acquired a new stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 10,654 shares of the semiconductor manufacturer's stock, valued at approximately $3,742,000. Broadcom accounts for 2.3% of Bingham Private Wealth LLC's portfolio, making the stock its 9th biggest position.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. NerdWallet Wealth Partners LLC raised its stake 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 buying an additional 27 shares in the last quarter. Veery Capital LLC lifted its holdings in shares of Broadcom by 1.4% in the second 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 boosted its stake in 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 buying an additional 27 shares in the last quarter. Meridian Management Co. boosted its stake in Broadcom by 0.3% during the first 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. grew its holdings in Broadcom by 3.5% during the second quarter. Arkansas Financial Group Inc. now owns 866 shares of the semiconductor manufacturer's stock worth $327,000 after acquiring an additional 29 shares during the period. Institutional investors own 76.43% of the company's stock.

Recent Broadcom Headlines

These are some of the AVGO headlines that stood out recently:

• Positive Sentiment: Broadcom could benefit as cloud providers diversify beyond NVIDIA and invest in custom AI chips. The company designs custom ASICs for hyperscalers, and Anthropic’s disclosed spending commitments have been cited as support for Broadcom’s growth outlook. Anthropic’s S-1 strengthens the case for Broadcom’s AI growth
• Positive Sentiment: Despite Rothschild & Co Redburn’s downgrade, the articles note that Wall Street’s average price target remains around $533, above the firm’s new $398 target. This suggests some analysts still see substantial upside. Is Rothschild & Co Redburn Wrong to Give Up on Broadcom?
• Negative Sentiment: Rothschild & Co Redburn cut AVGO to Neutral from Buy and lowered its price target by 33%, from $595 to $398. It flagged risk from Broadcom’s growing exposure to AI financing arrangements, including reliance on AI companies such as Anthropic and OpenAI that are not yet self-funding. Broadcom stock falls as firm flags AI financing risks

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Evercore set a $578.00 price target on shares of Broadcom and gave the stock an "outperform" rating in a research report on Thursday, September 3rd. Rothschild & Co Redburn lowered shares of Broadcom from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $595.00 to $398.00 in a research report on Friday. The Goldman Sachs Group lifted their price objective on shares of Broadcom from $525.00 to $540.00 and gave the stock a "buy" rating in a research note on Thursday, September 3rd. HC Wainwright began coverage on shares of Broadcom in a report on Tuesday, October 27th. They issued a "buy" rating on the stock. Finally, Citic Securities upgraded shares of Broadcom to a "buy" rating and boosted their target price for the stock from $450.00 to $525.00 in a report on Tuesday, September 8th. One research analyst has rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $525.19.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $347.01 on Friday. The stock's fifty day simple moving average is $345.39 and its 200 day simple moving average is $366.55. The stock has a market capitalization of $1.66 trillion, a price-to-earnings ratio of 44.32 and a beta of 1.49. The company has a quick ratio of 2.29, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. 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 announced its earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 EPS for the quarter, beating the consensus estimate of $3.22 by $0.10. Broadcom had a return on equity of 48.33% and a net margin of 42.94%. The business had revenue of $29.59 billion during the quarter, compared to the consensus estimate of $29.24 billion. During the same period in the prior year, the business posted $1.69 earnings per share. Broadcom's revenue was up 85.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Broadcom Inc. will post 10.20 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st were issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.7%. The ex-dividend date was Monday, September 21st. Broadcom's payout ratio 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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