Broadcom Inc. $AVGO Stock Sold by Kelleher Financial Advisors

Key Points

• Kelleher Financial Advisors cut its Broadcom stake by 57.2% in the third quarter, selling 2,248 shares and retaining 1,680 shares valued at about $590,000.
• Analysts were broadly positive: Broadcom had a consensus “Moderate Buy” rating and an average price target of $530.52.
• Broadcom beat quarterly earnings and revenue estimates, with revenue rising 85.5% year over year; reports also highlighted strong AI-chip growth alongside risks from a broader chip selloff and uncertainty around AI spending.

Kelleher Financial Advisors lowered its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 57.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,680 shares of the semiconductor manufacturer's stock after selling 2,248 shares during the quarter. Kelleher Financial Advisors' holdings in Broadcom were worth $590,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Yukon Wealth Management Inc. boosted its position in shares of Broadcom by 1.1% during the 1st quarter. Yukon Wealth Management Inc. now owns 2,501 shares of the semiconductor manufacturer's stock valued at $774,000 after purchasing an additional 26 shares in the last quarter. NerdWallet Wealth Partners LLC grew its stake in Broadcom by 2.6% during the second quarter. NerdWallet Wealth Partners LLC now owns 1,057 shares of the semiconductor manufacturer's stock worth $399,000 after purchasing an additional 27 shares during the period. Veery Capital LLC increased its holdings 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 in the last quarter. Ridgeline Wealth Planning LLC increased its holdings in Broadcom by 2.1% in the second quarter. Ridgeline Wealth Planning LLC now owns 1,302 shares of the semiconductor manufacturer's stock worth $492,000 after purchasing an additional 27 shares in the last quarter. Finally, Capital Planning LLC increased its holdings in Broadcom by 0.7% in the first quarter. Capital Planning LLC now owns 4,044 shares of the semiconductor manufacturer's stock worth $1,252,000 after purchasing an additional 28 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. HC Wainwright assumed coverage on Broadcom in a research note on Tuesday, October 27th. They issued a "buy" rating on the stock. President Capital raised their price objective on shares of Broadcom from $520.00 to $546.00 and gave the stock a "buy" rating in a research report on Thursday, September 3rd. Wedbush started coverage on shares of Broadcom in a research note on Tuesday, October 27th. They issued an "outperform" rating for the company. Tigress Financial initiated coverage on shares of Broadcom in a research report on Thursday, October 22nd. They set a "buy" rating and a $600.00 target price on the stock. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $600.00 target price on shares of Broadcom in a research report on Tuesday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $530.52.

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

Broadcom Stock Up 0.7%

Shares of NASDAQ:AVGO opened at $293.69 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.29 and a current ratio of 2.50. Broadcom Inc. has a 52-week low of $289.77 and a 52-week high of $495.00. The business's 50 day simple moving average is $347.89 and its two-hundred day simple moving average is $366.17. The firm has a market cap of $1.40 trillion, a P/E ratio of 37.51 and a beta of 1.49.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 EPS for the quarter, beating 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 firm had revenue of $29.59 billion during the quarter, compared to the consensus estimate of $29.24 billion. During the same quarter in the previous year, the company posted $1.69 earnings per share. The company's quarterly revenue was up 85.5% on a year-over-year basis. As a group, research analysts forecast that Broadcom Inc. will post 10.37 EPS for the current fiscal year.

Broadcom Dividend Announcement

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

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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