Broadcom Inc. $AVGO Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC cut its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 5.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 909,950 shares of the semiconductor manufacturer's stock after selling 51,851 shares during the period. Commonwealth Equity Services LLC's holdings in Broadcom were worth $319,565,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Core Capital Management & Research inc. purchased a new position in shares of Broadcom in the second quarter worth $31,000. DecisionPoint Financial LLC lifted its stake in shares of 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 buying an additional 53 shares during the period. Harborfront Financial Group LLC purchased a new stake in shares of Broadcom during the second quarter valued at $38,000. Align Financial LLC grew its holdings in shares of Broadcom by 67.2% during the third quarter. Align Financial LLC now owns 112 shares of the semiconductor manufacturer's stock valued at $38,000 after buying an additional 45 shares during the last quarter. Finally, Curry Webb Wealth Management LLC purchased a new stake in shares of Broadcom during the third quarter valued at $41,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s AI semiconductor revenue is surging, and management sees significant growth potential over the next several years. One analysis argues that the market may not yet reflect that opportunity; another estimates the shares could be undervalued. Prediction: November Will Be a Huge Month for Broadcom Broadcom Stock Could Be 37% Undervalued
• Neutral Sentiment: Some coverage frames the recent pullback as a potential turning point, with a widening gap between AI business growth and the share-price trend. Whether fundamentals prompt a recovery remains uncertain. Broadcom Stock Could Be Approaching a Major Turning Point
• Negative Sentiment: Near-term risks include the broad AI-chip selloff and worries that higher interest rates could curb AI spending. Potential limits on new data-center permits in some states add uncertainty about future infrastructure buildouts. Broadcom’s AI Revenue Is Exploding. Here’s What Investors Should Watch Next. Broadcom Drops Amid Broad Chip Selloff
• Negative Sentiment: Investor positioning has also weighed on sentiment: ARK sold a large Broadcom holding during the selloff while buying Nvidia. Broadcom is still down sharply over the past month, despite the recent lift. ARK Buys Nvidia and Sells Broadcom Broadcom Is Still Down 22% in the Past Month

Analysts Set New Price Targets

Several equities analysts recently issued reports on AVGO shares. TD Cowen reissued a "buy" rating and issued a $475.00 target price (down from $500.00) on shares of Broadcom in a research report on Thursday, September 3rd. Oppenheimer initiated coverage on Broadcom in a research report on Tuesday, October 27th. They set a "buy" rating for the company. Tigress Financial initiated coverage on Broadcom in a research note on Thursday, October 22nd. They set a "buy" rating and a $600.00 price target on the stock. Royal Bank Of Canada began coverage on Broadcom in a research note on Thursday, September 3rd. They set an "outperform" rating on the stock. Finally, Truist Financial cut their price objective on Broadcom from $550.00 to $520.00 and set a "buy" rating on the stock in a report on Thursday, September 3rd. One investment 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 stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $530.52.

Broadcom Price Performance

Shares of AVGO opened at $293.69 on Monday. Broadcom Inc. has a 52 week low of $289.77 and a 52 week high of $495.00. The company has a quick ratio of 2.29, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $1.40 trillion, a price-to-earnings ratio of 37.51 and a beta of 1.49. The stock's 50-day moving average price is $347.89 and its 200-day moving average price is $366.17.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $29.59 billion during the quarter, compared to analysts' expectations of $29.24 billion. During the same period in the previous year, the business posted $1.69 EPS. The business's revenue was up 85.5% compared to the same quarter last year. On average, sell-side analysts predict that Broadcom Inc. will post 10.37 EPS for the current year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st were issued a $0.65 dividend. 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 payout ratio is presently 33.21%.

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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