Broadcom Inc. $AVGO Stock Position Raised by Everest Financial Group LLC

Key Points

• Everest Financial Group raised its Broadcom stake 10.9% in the third quarter, adding 5,401 shares to reach 55,138 shares valued at about $19.4 million. Broadcom represents roughly 2.2% of the firm’s portfolio.
• Institutional investors own 76.43% of Broadcom shares. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $525.19.
• Broadcom beat quarterly earnings and revenue estimates, reporting EPS of $3.32 and revenue of $29.59 billion; revenue rose 85.5% year over year.

Everest Financial Group LLC boosted its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 10.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,138 shares of the semiconductor manufacturer's stock after purchasing an additional 5,401 shares during the period. Broadcom makes up approximately 2.2% of Everest Financial Group LLC's holdings, making the stock its 15th largest position. Everest Financial Group LLC's holdings in Broadcom were worth $19,364,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. NerdWallet Wealth Partners LLC increased its position in Broadcom by 2.6% during the second quarter. NerdWallet Wealth Partners LLC now owns 1,057 shares of the semiconductor manufacturer's stock valued at $399,000 after acquiring an additional 27 shares during the last quarter. Veery Capital LLC boosted its position in Broadcom by 1.4% in the second quarter. Veery Capital LLC now owns 1,900 shares of the semiconductor manufacturer's stock worth $718,000 after purchasing an additional 27 shares during the last quarter. Ridgeline Wealth Planning LLC grew its stake in shares of Broadcom by 2.1% during the 2nd quarter. Ridgeline Wealth Planning LLC now owns 1,302 shares of the semiconductor manufacturer's stock valued at $492,000 after purchasing an additional 27 shares during the period. Meridian Management Co. grew its stake in shares of Broadcom by 0.3% during the 1st quarter. Meridian Management Co. now owns 9,425 shares of the semiconductor manufacturer's stock valued at $2,917,000 after purchasing an additional 28 shares during the period. Finally, Arkansas Financial Group Inc. grew its stake in shares of Broadcom by 3.5% during the 2nd quarter. Arkansas Financial Group Inc. now owns 866 shares of the semiconductor manufacturer's stock valued at $327,000 after purchasing an additional 29 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Top Broadcom Stories

Investors following AVGO have been watching these stories:

• Positive Sentiment: Broadcom could benefit as cloud providers diversify beyond NVIDIA and invest in custom AI chips. The company designs custom ASICs for hyperscalers, and Anthropic’s disclosed spending commitments have been cited as support for Broadcom’s growth outlook. Anthropic’s S-1 strengthens the case for Broadcom’s AI growth
• Positive Sentiment: Despite Rothschild & Co Redburn’s downgrade, the articles note that Wall Street’s average price target remains around $533, above the firm’s new $398 target. This suggests some analysts still see substantial upside. Is Rothschild & Co Redburn Wrong to Give Up on Broadcom?
• Neutral Sentiment: Broadcom had recently rallied as investors considered whether NVIDIA’s leadership turmoil could redirect demand to rival chipmakers. NVIDIA’s rebound on Friday, however, prompted some investors to reassess that rotation. AMD, Broadcom stocks fall as Nvidia rebounds

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on AVGO shares. BNP Paribas Exane increased their price objective on shares of Broadcom from $675.00 to $715.00 and gave the stock an "outperform" rating in a research note on Friday, September 4th. UBS Group cut shares of Broadcom from a "hold" rating to a "neutral" rating in a report on Tuesday, October 27th. Sanford C. Bernstein reiterated a "buy" rating on shares of Broadcom in a research report on Monday, September 21st. Bank of America dropped their price target on shares of Broadcom from $530.00 to $460.00 and set a "buy" rating on the stock in a research note on Thursday, September 3rd. Finally, Evercore set a $578.00 price objective on shares of Broadcom and gave the company an "outperform" rating in a research report on Thursday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $525.19.

Broadcom Stock Performance

Broadcom stock traded down $17.35 during midday trading on Friday, hitting $347.01. The stock had a trading volume of 31,579,948 shares, compared to its average volume of 26,761,208. Broadcom Inc. has a 52-week low of $289.77 and a 52-week high of $495.00. The company has a market capitalization of $1.66 trillion, a PE ratio of 44.32 and a beta of 1.49. The firm's fifty day moving average is $345.39 and its two-hundred day moving average is $366.55. The company has a current ratio of 2.50, a quick ratio of 2.29 and a debt-to-equity ratio of 0.57.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share for the quarter, topping analysts' consensus estimates 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 net margin of 42.94% and a return on equity of 48.33%. The company's revenue was up 85.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.69 earnings per share. On average, research analysts forecast that Broadcom Inc. will post 10.20 EPS for the current year.

Broadcom Dividend Announcement

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 dividend of $0.65 per share. The ex-dividend date was Monday, September 21st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.7%. Broadcom's payout ratio is 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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