Broadcom Inc. $AVGO Stock Sold by International Assets Investment Management LLC

Key Points

• International Assets Investment Management cut its Broadcom stake by 98.5%, selling 67,396 shares in the third quarter and retaining 1,029 shares valued at about $361,000.
• Analyst sentiment remains broadly positive: Broadcom has a “Moderate Buy” consensus rating and an average price target of $530.52, with 39 analysts rating it Buy and five Hold.
• Broadcom’s latest reported quarter beat estimates, with EPS of $3.32 versus $3.22 expected and revenue of $29.59 billion, up 85.5% year over year.

International Assets Investment Management LLC lessened its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 98.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,029 shares of the semiconductor manufacturer's stock after selling 67,396 shares during the period. International Assets Investment Management LLC's holdings in Broadcom were worth $361,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in AVGO. Core Capital Management & Research inc. acquired a new position in shares of Broadcom during the second quarter worth approximately $31,000. Harborfront Financial Group LLC bought a new stake in shares of Broadcom in the second quarter valued at approximately $38,000. DecisionPoint Financial LLC boosted its position in shares of Broadcom by 101.9% in the third quarter. DecisionPoint Financial LLC now owns 105 shares of the semiconductor manufacturer's stock valued at $36,000 after acquiring an additional 53 shares during the period. Align Financial LLC grew its stake in shares of Broadcom by 67.2% in the third quarter. Align Financial LLC now owns 112 shares of the semiconductor manufacturer's stock worth $38,000 after acquiring an additional 45 shares during the last quarter. Finally, Curry Webb Wealth Management LLC acquired a new stake in shares of Broadcom in the third quarter worth $41,000. Institutional investors own 76.43% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on AVGO. DA Davidson raised shares of Broadcom from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $350.00 to $400.00 in a research report on Tuesday, October 27th. Oppenheimer initiated coverage on shares of Broadcom in a report on Tuesday, October 27th. They issued a "buy" rating for the company. HSBC reduced their price target on shares of Broadcom from $600.00 to $560.00 and set a "buy" rating for the company in a report on Thursday, September 3rd. JPMorgan Chase & Co. restated a "buy" rating on shares of Broadcom in a research report on Thursday, September 3rd. Finally, Sanford C. Bernstein restated a "buy" rating on shares of Broadcom in a report on Monday, September 21st. One equities research analyst has rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Broadcom has a consensus rating of "Moderate Buy" and an average price target of $530.52.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s AI semiconductor revenue reached $16.7 billion last quarter, above its $16 billion target, and management expects higher AI revenue next quarter. That outlook supports the case that demand remains strong despite concerns about competition. Article: Is Broadcom Stock a Buy Now?
• Positive Sentiment: Broadcom was included on Bank of America’s “global defenders” list, while ETFs reportedly added about $267.7 million of AVGO shares on Nov. 2—potential signs of institutional interest. Article: BofA adds TSLA, AVGO, IBM, others to its global defenders list Article: 53 ETFs Add to Broadcom Holdings
• Neutral Sentiment: Some recent commentary sees a possible turning point, arguing that the disconnect between falling shares and fast-growing AI revenue may not persist. This is an analyst view, not a confirmed catalyst. Article: Broadcom Stock Could Be Approaching a Major Turning Point
• Negative Sentiment: The immediate headwind is a broader chip-stock rout, with investors increasingly worried that AI regulation and constraints on data-center development could curb future spending. Coverage also points to a Texas permit freeze as a potential source of uncertainty for AI infrastructure demand. Article: Broadcom Sinks as AI Regulation Fears Deepen Chip Rout Article: Steve Weiss Says the Midterms Just Put a Lid on AI Spending

Broadcom Stock Performance

AVGO opened at $291.53 on Friday. The stock has a market cap of $1.39 trillion, a PE ratio of 37.23 and a beta of 1.49. 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 Inc. has a 1 year low of $289.96 and a 1 year high of $495.00. The stock's 50 day simple moving average is $349.45 and its 200-day simple moving average is $366.37.

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. Broadcom had a net margin of 42.94% and a return on equity of 48.33%. The firm had revenue of $29.59 billion for the quarter, compared to the consensus estimate of $29.24 billion. During the same quarter in the previous year, the company earned $1.69 earnings per share. The business's revenue was up 85.5% compared to the same quarter last year. Sell-side analysts forecast that Broadcom Inc. will post 10.37 EPS for the current year.

Broadcom Announces Dividend

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

About Broadcom

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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