Broadcom Inc. $AVGO Stock Bought by New York Life Investment Management LLC

Key Points

• New York Life Investment Management increased its Broadcom stake by 2.8%, adding 19,621 shares to hold 718,674 shares valued at about $252.4 million at quarter-end.
• Broadcom reported quarterly earnings of $3.32 per share, beating estimates of $3.22, while revenue of $29.59 billion exceeded forecasts and rose 85.5% year over year.
• Analysts hold a consensus “Moderate Buy” rating, with an average price target of $530.52; 40 analysts rate the stock Buy and five rate it Hold.

New York Life Investment Management LLC raised its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 2.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 718,674 shares of the semiconductor manufacturer's stock after buying an additional 19,621 shares during the period. Broadcom comprises approximately 1.7% of New York Life Investment Management LLC's investment portfolio, making the stock its 11th biggest holding. New York Life Investment Management LLC's holdings in Broadcom were worth $252,391,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of AVGO. Gen Wealth Partners Inc increased its position in Broadcom by 69.6% during the third quarter. Gen Wealth Partners Inc now owns 709 shares of the semiconductor manufacturer's stock worth $249,000 after acquiring an additional 291 shares during the period. DMKC Advisory Services LLC bought a new stake in Broadcom in the 3rd quarter valued at about $234,000. Cpwa LLC boosted its holdings in Broadcom by 6.1% in the 3rd quarter. Cpwa LLC now owns 1,242 shares of the semiconductor manufacturer's stock valued at $441,000 after purchasing an additional 71 shares during the period. Torrey Growth & Income Advisors grew its position in shares of Broadcom by 31.3% during the 3rd quarter. Torrey Growth & Income Advisors now owns 1,200 shares of the semiconductor manufacturer's stock worth $426,000 after purchasing an additional 286 shares in the last quarter. Finally, 71 West Capital Partners grew its position in shares of Broadcom by 0.3% during the 3rd quarter. 71 West Capital Partners now owns 52,724 shares of the semiconductor manufacturer's stock worth $18,516,000 after purchasing an additional 162 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AVGO. Morgan Stanley reaffirmed an "overweight" rating and set a $505.00 target price (up from $502.00) on shares of Broadcom in a report on Thursday, September 3rd. The Goldman Sachs Group boosted their price target on Broadcom from $525.00 to $540.00 and gave the company a "buy" rating in a research note on Thursday, September 3rd. BNP Paribas Exane increased their price target on Broadcom from $675.00 to $715.00 and gave the stock an "outperform" rating in a research report on Friday, September 4th. HC Wainwright began coverage on Broadcom in a research report on Tuesday, October 27th. They set a "buy" rating on the stock. Finally, Truist Financial lowered their price objective on Broadcom from $550.00 to $520.00 and set a "buy" rating on the stock in a research note on Thursday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $530.52.

Broadcom Trading Up 5.5%

Shares of Broadcom stock opened at $364.36 on Friday. The company has a market capitalization of $1.74 trillion, a price-to-earnings ratio of 46.53 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 12-month low of $289.77 and a 12-month high of $495.00. The firm's 50-day moving average price is $345.59 and its two-hundred day moving average price is $366.48.

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, beating the consensus estimate of $3.22 by $0.10. The firm 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 business's quarterly revenue was up 85.5% compared to the same quarter last year. During the same period last year, the firm earned $1.69 EPS. On average, analysts forecast that Broadcom Inc. will post 10.20 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Monday, September 21st were given a dividend of $0.65 per share. The ex-dividend date was Monday, September 21st. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. Broadcom's dividend payout ratio (DPR) is currently 33.21%.

Key Headlines Impacting Broadcom

Investors following AVGO have been watching these headlines:

• Positive Sentiment: Investors are rotating toward rival chipmakers as uncertainty around Nvidia creates a potential opening for Broadcom to win more AI-chip business. Broadcom’s custom-chip focus positions it to benefit if hyperscalers expand alternatives to Nvidia’s products. Why Broadcom Stock Rallied Thursday Morning
• Neutral Sentiment: Broadcom’s AI opportunity comes with customer-concentration risk: its five largest customers reportedly accounted for about 55% of recent-quarter revenue. Anthropic is expected to become its largest custom AI-chip customer in 2027, which could deepen reliance on a few major buyers. Broadcom’s customer concentration risk
• Negative Sentiment: Potentially tighter U.S. export controls and hardware-tracking rules could add compliance costs and delay international AI deployments. Such restrictions may affect Broadcom and other semiconductor suppliers, even if demand for AI infrastructure remains strong. Midterm Fallout, NVIDIA Turmoil, Anthropic’s IPO: Is Broadcom a Steal?

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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