Broadcom Inc. $AVGO Stock: International Assets Investment Management LLC Increases Position

Key Points

• International Assets Investment Management increased its Broadcom stake by 3.6% in the third quarter, adding 2,496 shares to hold 70,921 shares valued at about $24.4 million.
• Institutional investors own 76.43% of Broadcom shares, with State Street increasing its holdings by 8.7% in the second quarter.
• Analysts give Broadcom a consensus “Moderate Buy” rating and an average price target of $530.52. In its latest reported quarter, the company beat earnings and revenue estimates, with revenue up 85.5% year over year.

International Assets Investment Management LLC raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,921 shares of the semiconductor manufacturer's stock after purchasing an additional 2,496 shares during the period. Broadcom accounts for about 0.4% of International Assets Investment Management LLC's holdings, making the stock its 14th largest holding. International Assets Investment Management LLC's holdings in Broadcom were worth $24,431,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of AVGO. Legal & General Group Plc bought a new position in shares of Broadcom during the second quarter valued at approximately $11,998,148,000. Bank of New York Mellon Corp purchased a new stake in Broadcom in the second quarter worth $10,528,191,000. Jupiter Topco LLC bought a new stake in Broadcom in the second quarter valued at $7,396,271,000. State Street Corp boosted its holdings in 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 acquiring an additional 16,651,378 shares in the last quarter. Finally, Deutsche Bank AG bought a new stake in Broadcom in the second quarter valued at $5,661,216,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Key Broadcom News

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

AVGO has been the topic of a number of research analyst reports. Fox Advisors raised shares of Broadcom to an "outperform" rating in a research report on Thursday, September 3rd. Citic Securities upgraded shares of Broadcom to a "buy" rating and boosted their price target for the company from $450.00 to $525.00 in a research report on Tuesday, September 8th. JPMorgan Chase & Co. reissued a "buy" rating on shares of Broadcom in a research note on Thursday, September 3rd. Arete Research increased their price target on shares of Broadcom from $488.00 to $530.00 and gave the stock a "buy" rating in a research note on Tuesday, July 21st. Finally, The Goldman Sachs Group raised their price objective on shares of Broadcom from $525.00 to $540.00 and gave the stock a "buy" rating in a report on Thursday, September 3rd. One equities 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's stock. According to data from MarketBeat.com, Broadcom presently has a consensus rating of "Moderate Buy" and a consensus price target of $530.52.

Broadcom Price Performance

AVGO stock opened at $293.69 on Monday. The business has a 50 day moving average of $347.89 and a 200 day moving average of $366.17. The firm has a market cap of $1.40 trillion, a PE ratio of 37.51 and a beta of 1.49. Broadcom Inc. has a twelve month low of $289.77 and a twelve month 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.

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 the consensus estimate of $3.22 by $0.10. Broadcom had a return on equity of 48.33% and a net margin of 42.94%. 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 company posted $1.69 earnings per share. The company's revenue for the quarter was up 85.5% compared to the same quarter last year. On average, research analysts forecast that Broadcom Inc. will post 10.37 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st were given a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Monday, September 21st. Broadcom's payout ratio is currently 33.21%.

Broadcom Company 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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