Broadcom Inc. $AVGO Stock: Axecap Investments LLC Decreases Position

Axecap Investments LLC reduced its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 63.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,347 shares of the semiconductor manufacturer's stock after selling 7,626 shares during the quarter. Axecap Investments LLC's holdings in Broadcom were worth $1,527,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Legal & General Group Plc purchased a new position in Broadcom in the second quarter valued at about $11,998,148,000. Bank of New York Mellon Corp purchased a new stake in shares of Broadcom in the second quarter worth about $10,528,191,000. Jupiter Topco LLC acquired a new stake in shares of Broadcom in the second quarter valued at about $7,396,271,000. State Street Corp grew its stake 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 buying an additional 16,651,378 shares in the last quarter. Finally, Deutsche Bank AG purchased a new stake in shares of Broadcom during the 2nd quarter valued at about $5,661,216,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. DA Davidson set a $350.00 price target on shares of Broadcom and gave the stock a "neutral" rating in a research note on Friday, September 4th. UBS Group cut shares of Broadcom from a "buy" rating to a "hold" rating in a research report on Thursday, September 3rd. Truist Financial decreased their price objective on shares of Broadcom from $550.00 to $520.00 and set a "buy" rating for the company in a research report on Thursday, September 3rd. Weiss Ratings upgraded Broadcom from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, October 8th. Finally, KeyCorp reaffirmed an "overweight" rating and set a $575.00 target price on shares of Broadcom in a research report on Thursday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $529.17.

Broadcom Stock Down 0.5%

Shares of Broadcom stock opened at $321.68 on Friday. The company has a current ratio of 2.50, a quick ratio of 2.29 and a debt-to-equity ratio of 0.57. The company has a market cap of $1.54 trillion, a P/E ratio of 41.08 and a beta of 1.46. The stock has a 50-day moving average price of $356.05 and a 200 day moving average price of $384.25. Broadcom Inc. has a 1 year low of $289.96 and a 1 year high of $495.00.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly 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. The business had revenue of $29.59 billion during the quarter, compared to analyst estimates of $29.24 billion. Broadcom had a return on equity of 48.33% and a net margin of 42.94%. The firm's revenue was up 85.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.69 EPS. As a group, analysts expect that Broadcom Inc. will post 10.37 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st were issued 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 dividend yield of 0.8%. Broadcom's dividend payout ratio is currently 33.21%.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: ETF investors bought approximately $89.8 million of Broadcom shares on October 21, signaling continued institutional demand. Broadcom Sees $89.8 Million in Net ETF Buying
• Positive Sentiment: Analysts continue to highlight Broadcom’s leadership in custom AI accelerators. Demand from major AI labs and hyperscalers, including Anthropic, OpenAI and Meta, supports management’s ambitious long-term AI semiconductor growth outlook. 3 Magnificent AI Chip Stocks
• Positive Sentiment: Tigress Financial initiated coverage with a Buy rating and a $600 price target, implying substantial upside from recent trading levels. Tigress Financial Broadcom Coverage
• Positive Sentiment: Broadcom launched Arcot Scam Defense, a real-time fraud-detection feature for digital payments. Strong initial pilot results could create incremental growth for its software and security businesses. Broadcom Debuts Arcot Scam Defense
• Neutral Sentiment: Broadcom remains the leading custom-chip design partner, but Alphabet is diversifying its TPU suppliers. Although Broadcom may lose market share, the overall AI accelerator market is expected to expand rapidly, potentially offsetting that loss. Broadcom AI Chip Business Risks
• Negative Sentiment: Investors are worried that customer-owned chip design and increased competition from MediaTek could reduce Broadcom’s role and margins in future AI programs. Alphabet’s supplier diversification is the clearest near-term risk. Broadcom AI Chip Business Risks
• Negative Sentiment: The broader market sell-off is weighing on AI stocks amid higher oil prices, inflation concerns and questions about whether massive data-center investments will generate sufficient returns. Technical commentary identifies the $320 area as an important support test. Broadcom Faces Critical $320 Test

Broadcom Company 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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