Broadcom Inc. $AVGO Shares Newly Bought by Harold Davidson & Associates Inc.

Key Points

• Harold Davidson & Associates opened a new Broadcom position in the third quarter, buying 3,768 shares valued at approximately $1.32 million. Institutional investors and hedge funds collectively own 76.43% of the stock.
• Broadcom shares were reported down 10.4%, opening at $291.53, well below their 52-week high of $495. The company’s latest reported quarterly results beat analyst estimates, with revenue up 85.5% year over year.
• Analysts hold a “Moderate Buy” consensus rating, with an average price target of $530.52; recent target changes included increases as well as cuts.

Harold Davidson & Associates Inc. bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,768 shares of the semiconductor manufacturer's stock, valued at approximately $1,323,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. State Street Corp grew its holdings 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 valued at $75,367,711,000 after purchasing an additional 16,651,378 shares during the period. Bank of America Corp DE increased its position in Broadcom by 4.6% during 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 last quarter. Wellington Management Group LLP raised its stake in Broadcom by 3.8% during the second quarter. Wellington Management Group LLP now owns 51,580,703 shares of the semiconductor manufacturer's stock worth $19,484,611,000 after purchasing an additional 1,892,721 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Broadcom by 2.9% during the second 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 purchasing an additional 1,140,598 shares during the period. Finally, Legal & General Group Plc acquired a new position in Broadcom in the 2nd quarter valued at about $11,998,148,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Stock Down 10.4%

Broadcom stock opened at $291.53 on Friday. The company has a market capitalization of $1.39 trillion, a P/E ratio of 37.23 and a beta of 1.49. Broadcom Inc. has a fifty-two week low of $289.96 and a fifty-two week high of $495.00. The stock has a 50-day simple moving average of $349.45 and a 200-day simple moving average of $366.37. 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 announced its earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.22 by $0.10. The business had revenue of $29.59 billion for the quarter, compared to analyst estimates of $29.24 billion. Broadcom had a net margin of 42.94% and a return on equity of 48.33%. The company's revenue for the quarter was up 85.5% compared to the same quarter last year. During the same period last year, the firm posted $1.69 earnings per share. Equities research analysts expect that Broadcom Inc. will post 10.37 earnings per share for the current year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Monday, September 21st were paid a dividend of $0.65 per share. The ex-dividend date 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 currently 33.21%.

Analyst Upgrades and Downgrades

AVGO has been the subject of several analyst reports. Lake Street Capital raised shares of Broadcom to a "buy" rating in a research note on Thursday, September 3rd. Arete Research increased their target price on Broadcom from $488.00 to $530.00 and gave the stock a "buy" rating in a research note on Tuesday, July 21st. Weiss Ratings raised shares of Broadcom from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, October 8th. HSBC cut their target price on shares of Broadcom from $600.00 to $560.00 and set a "buy" rating on the stock in a research note on Thursday, September 3rd. Finally, Wedbush initiated coverage on Broadcom in a research note on Tuesday, October 27th. They issued an "outperform" rating on the stock. One research analyst has rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $530.52.

Key Stories Impacting Broadcom

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 Profile

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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