First Command Advisory Services Inc. Purchases 2,995 Shares of Broadcom Inc. $AVGO

Key Points

• First Command Advisory Services increased its Broadcom stake by 62.9% in the third quarter, adding 2,995 shares to hold 7,758 shares valued at about $2.73 million.
• Broadcom’s latest quarterly results beat estimates: EPS was $3.32 versus $3.22 expected, and revenue reached $29.59 billion, up 85.5% year over year.
• Analyst views remain broadly positive, with a “Moderate Buy” consensus and average target of $525.19, though one firm recently downgraded the stock and cited risks tied to AI financing exposure.

First Command Advisory Services Inc. boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 62.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,758 shares of the semiconductor manufacturer's stock after acquiring an additional 2,995 shares during the quarter. First Command Advisory Services Inc.'s holdings in Broadcom were worth $2,725,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AVGO. Silver Grove Financial Group Inc. boosted its stake in Broadcom by 3.7% during the third quarter. Silver Grove Financial Group Inc. now owns 5,532 shares of the semiconductor manufacturer's stock worth $1,943,000 after buying an additional 195 shares during the period. Davis Investment Partners LLC raised its stake in shares of Broadcom by 15.7% in the 3rd quarter. Davis Investment Partners LLC now owns 1,252 shares of the semiconductor manufacturer's stock valued at $440,000 after acquiring an additional 170 shares during the period. Turn8 Private Wealth Inc. acquired a new position in shares of Broadcom in the 3rd quarter worth approximately $4,497,000. Illinois Municipal Retirement Fund lifted its holdings in shares of Broadcom by 1.5% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 312,808 shares of the semiconductor manufacturer's stock worth $109,855,000 after acquiring an additional 4,537 shares during the last quarter. Finally, Northbridge Financial Group LLC boosted its position in shares of Broadcom by 3.6% during the 3rd quarter. Northbridge Financial Group LLC now owns 18,787 shares of the semiconductor manufacturer's stock worth $7,060,000 after purchasing an additional 647 shares during the period. Hedge funds and other institutional investors own 76.43% of the company's stock.

Latest Broadcom News

Here's some of the latest news about AVGO:

• 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?
• Negative Sentiment: Rothschild & Co Redburn cut AVGO to Neutral from Buy and lowered its price target by 33%, from $595 to $398. It flagged risk from Broadcom’s growing exposure to AI financing arrangements, including reliance on AI companies such as Anthropic and OpenAI that are not yet self-funding. Broadcom stock falls as firm flags AI financing risks

Broadcom Stock Performance

NASDAQ:AVGO opened at $347.01 on Friday. The firm has a 50 day simple moving average of $345.39 and a 200-day simple moving average of $366.55. 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 firm has a market cap of $1.66 trillion, a PE ratio of 44.32 and a beta of 1.49. Broadcom Inc. has a 1-year low of $289.77 and a 1-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. The business had revenue of $29.59 billion for the quarter, compared to analysts' expectations of $29.24 billion. Broadcom had a net margin of 42.94% and a return on equity of 48.33%. The company's quarterly revenue was up 85.5% on a year-over-year basis. During the same period last year, the company earned $1.69 earnings per share. On average, equities analysts expect that Broadcom Inc. will post 10.20 EPS for the current 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 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 presently 33.21%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AVGO. Rosenblatt Securities reaffirmed a "buy" rating and issued a $600.00 price objective on shares of Broadcom in a research note on Tuesday, October 27th. BMO Capital Markets increased their price target on shares of Broadcom from $455.00 to $575.00 and gave the stock an "outperform" rating in a research report on Thursday, September 3rd. Oppenheimer assumed coverage on shares of Broadcom in a research note on Tuesday, October 27th. They issued a "buy" rating for the company. Wall Street Zen cut shares of Broadcom from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 18th. Finally, UBS Group downgraded shares of Broadcom from a "hold" rating to a "neutral" rating in a research note on Tuesday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, Broadcom currently has a consensus rating of "Moderate Buy" and an average target price of $525.19.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.