Broadcom Inc. $AVGO Shares Newly Purchased by Bullock Wealth Management Group

Key Points

• Bullock Wealth Management Group bought 6,812 Broadcom shares worth approximately $2.34 million in the third quarter, making AVGO about 1% of its portfolio. Institutional investors collectively own 76.43% of Broadcom.
• Wall Street remains broadly bullish, with 37 Buy ratings, one Strong Buy, and three Holds; the consensus rating is “Moderate Buy” with a $527.20 price target.
• Broadcom reported quarterly EPS of $3.32 and revenue of $29.59 billion, up 85.5% year over year. The company also pays a quarterly dividend of $0.65, or $2.60 annually, yielding about 0.7%.

Bullock Wealth Management Group purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,812 shares of the semiconductor manufacturer's stock, valued at approximately $2,340,000. Broadcom comprises about 1.0% of Bullock Wealth Management Group's portfolio, making the stock its 17th biggest position.

A number of other large investors also recently modified their holdings of AVGO. Wedmont Private Capital raised its position in Broadcom by 19.5% in the third quarter. Wedmont Private Capital now owns 95,009 shares of the semiconductor manufacturer's stock valued at $34,217,000 after purchasing an additional 15,484 shares during the period. Intelligence Driven Advisers LLC boosted its position in shares of Broadcom by 9.7% in the third quarter. Intelligence Driven Advisers LLC now owns 2,996 shares of the semiconductor manufacturer's stock worth $1,052,000 after buying an additional 266 shares during the period. Journey Retirement Planning & Investment Management LLC grew its stake in shares of Broadcom by 49.8% in the third quarter. Journey Retirement Planning & Investment Management LLC now owns 5,048 shares of the semiconductor manufacturer's stock valued at $1,773,000 after buying an additional 1,679 shares in the last quarter. Central Bank & Trust Co. raised its holdings in shares of Broadcom by 11.6% during the 3rd quarter. Central Bank & Trust Co. now owns 16,261 shares of the semiconductor manufacturer's stock valued at $5,711,000 after buying an additional 1,686 shares during the period. Finally, Brown Shipley& Co Ltd raised its holdings in shares of Broadcom by 41.0% during the 3rd quarter. Brown Shipley& Co Ltd now owns 15,611 shares of the semiconductor manufacturer's stock valued at $5,482,000 after buying an additional 4,543 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AVGO. Royal Bank Of Canada began coverage on Broadcom in a research note on Thursday, September 3rd. They issued an "outperform" rating on the stock. Citic Securities raised shares of Broadcom to a "buy" rating and raised their price target for the stock from $450.00 to $525.00 in a research report on Tuesday, September 8th. Cantor Fitzgerald upped their price target on shares of Broadcom from $525.00 to $600.00 and gave the company an "overweight" rating in a report on Thursday, September 3rd. UBS Group downgraded shares of Broadcom from a "buy" rating to a "hold" rating in a research report on Thursday, September 3rd. Finally, TD Cowen reaffirmed a "buy" rating and set a $475.00 target price (down from $500.00) on shares of Broadcom in a report on Thursday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, thirty-seven have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $527.20.

Broadcom Stock Performance

Shares of AVGO opened at $361.54 on Friday. 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 1 year low of $289.96 and a 1 year high of $495.00. The firm has a fifty day moving average of $371.24 and a 200-day moving average of $382.38. The company has a market cap of $1.73 trillion, a price-to-earnings ratio of 46.17 and a beta of 1.46.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 EPS for the quarter, topping 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 the consensus estimate of $29.24 billion. During the same period in the previous year, the firm earned $1.69 EPS. The business's revenue for the quarter was up 85.5% on a year-over-year basis. As a group, equities analysts anticipate that Broadcom Inc. will post 10.37 earnings per share for the current year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Monday, September 21st were paid 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 was Monday, September 21st. Broadcom's dividend payout ratio is presently 33.21%.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom is reportedly arranging more than $50 billion in financing for custom AI chips being developed with OpenAI. Although discussions are preliminary, the potential project underscores the scale of expected demand for Broadcom’s custom silicon and could support substantial future revenue. Broadcom seeks more than $50 billion to finance OpenAI AI chips
• Positive Sentiment: At the OCP Global Summit, Broadcom highlighted new networking technologies designed to help hyperscalers scale AI clusters. The announcements reinforce its positioning in high-speed networking and custom AI infrastructure. Broadcom AI networking innovations
• Positive Sentiment: Record profits at Samsung and TSMC are being viewed as evidence that semiconductor demand and AI-related capital spending remain strong, a favorable backdrop for Broadcom’s chip and networking businesses. Record profits at Samsung and TSMC
• Positive Sentiment: Analysts and commentators continue to point to Broadcom’s rapid AI revenue growth and its roughly 24% decline from its 52-week high as a potential entry point, despite expectations for strong earnings growth. Broadcom is lagging the market

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 wired and wireless communications, data center networking, broadband access, storage, industrial applications, and other markets.

The company's semiconductor portfolio includes networking and switching products, custom application-specific integrated circuits, wireless connectivity components, radio-frequency devices, optical components, and storage-related solutions.

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