Castleview Partners LLC Sells 1,532 Shares of Broadcom Inc. $AVGO

Key Points

• Castleview Partners cut its Broadcom stake by 40.8% in the third quarter, selling 1,532 shares and retaining 2,227 shares worth approximately $782,000. Institutional investors collectively own 76.43% of Broadcom.
• Broadcom exceeded quarterly expectations, reporting adjusted EPS of $3.32 and revenue of $29.59 billion, up 85.5% year over year. The company also paid a quarterly dividend of $0.65 per share, equal to a 0.7% annualized yield.
• Wall Street remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $527.20. Analysts cited Broadcom’s strong AI-related demand, custom-chip opportunities and networking business as potential growth drivers.

Castleview Partners LLC lessened its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 40.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,227 shares of the semiconductor manufacturer's stock after selling 1,532 shares during the quarter. Castleview Partners LLC's holdings in Broadcom were worth $782,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in AVGO. Stokes Capital Advisors LLC boosted its stake in Broadcom by 2.5% in the 3rd quarter. Stokes Capital Advisors LLC now owns 53,762 shares of the semiconductor manufacturer's stock worth $18,881,000 after purchasing an additional 1,291 shares during the period. Mirador Capital Partners LP grew its position in Broadcom by 57.6% in the third quarter. Mirador Capital Partners LP now owns 21,297 shares of the semiconductor manufacturer's stock worth $7,479,000 after acquiring an additional 7,787 shares in the last quarter. Capital Advisors Wealth Management LLC increased its position in shares of Broadcom by 0.3% during the 3rd quarter. Capital Advisors Wealth Management LLC now owns 12,409 shares of the semiconductor manufacturer's stock valued at $4,358,000 after purchasing an additional 43 shares during the last quarter. Kaizen Financial Strategies raised its stake in shares of Broadcom by 6.2% during the third quarter. Kaizen Financial Strategies now owns 1,386 shares of the semiconductor manufacturer's stock worth $487,000 after acquiring an additional 81 shares in the last quarter. Finally, Sound Income Strategies LLC lifted its stake in Broadcom by 6.2% in the third quarter. Sound Income Strategies LLC now owns 14,289 shares of the semiconductor manufacturer's stock worth $5,146,000 after purchasing an additional 832 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Up 0.4%

Shares of AVGO stock opened at $361.54 on Friday. The company has a market capitalization of $1.73 trillion, a price-to-earnings ratio of 46.17 and a beta of 1.46. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.29. The company's fifty day moving average price is $371.24 and its 200-day moving average price is $382.38. Broadcom Inc. has a one year low of $289.96 and a one year high of $495.00.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share (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 firm had revenue of $29.59 billion during the quarter, compared to analysts' expectations of $29.24 billion. During the same quarter last year, the business posted $1.69 earnings per share. The firm's revenue was up 85.5% on a year-over-year basis. Sell-side analysts expect that Broadcom Inc. will post 10.37 EPS for the current fiscal year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, September 21st. Broadcom's payout ratio is 33.21%.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom is reportedly arranging more than $50 billion in financing for custom AI chips being developed with OpenAI. Although discussions are preliminary, the potential project underscores the scale of expected demand for Broadcom’s custom silicon and could support substantial future revenue. Broadcom seeks more than $50 billion to finance OpenAI AI chips
• Positive Sentiment: At the OCP Global Summit, Broadcom highlighted new networking technologies designed to help hyperscalers scale AI clusters. The announcements reinforce its positioning in high-speed networking and custom AI infrastructure. Broadcom AI networking innovations
• Positive Sentiment: Record profits at Samsung and TSMC are being viewed as evidence that semiconductor demand and AI-related capital spending remain strong, a favorable backdrop for Broadcom’s chip and networking businesses. Record profits at Samsung and TSMC
• Positive Sentiment: Analysts and commentators continue to point to Broadcom’s rapid AI revenue growth and its roughly 24% decline from its 52-week high as a potential entry point, despite expectations for strong earnings growth. Broadcom is lagging the market

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Evercore set a $578.00 price target on shares of Broadcom and gave the company an "outperform" rating in a research report on Thursday, September 3rd. DA Davidson set a $350.00 target price on shares of Broadcom and gave the company a "neutral" rating in a report on Friday, September 4th. Citigroup reaffirmed a "buy" rating and set a $515.00 price objective (up from $500.00) on shares of Broadcom in a research report on Friday, September 4th. BNP Paribas Exane upped their target price 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. Finally, Royal Bank Of Canada initiated coverage on shares of Broadcom in a research note on Thursday, September 3rd. They issued an "outperform" rating for the company. One analyst has rated the stock with a Strong Buy rating, thirty-seven have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $527.20.

Broadcom Profile

Broadcom Inc NASDAQ: AVGO is a global technology company that designs, develops, and supplies semiconductor and infrastructure software products. Its semiconductor solutions support wired and wireless communications, data center networking, broadband access, storage, industrial applications, and other markets.

The company's semiconductor portfolio includes networking and switching products, custom application-specific integrated circuits, wireless connectivity components, radio-frequency devices, optical components, and storage-related solutions.

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