Kurv Investment Management LLC Acquires 2,881 Shares of Broadcom Inc. $AVGO

Key Points

• Kurv Investment Management increased its Broadcom stake 11.3% in the third quarter, adding 2,881 shares to reach 28,396 shares, valued at about $9.97 million.
• 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.
• Analysts’ consensus rating is “Moderate Buy,” with a $530.52 average price target, though some commentary flags valuation concerns. Institutional investors own 76.43% of Broadcom shares.

Kurv Investment Management LLC lifted its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 11.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,396 shares of the semiconductor manufacturer's stock after purchasing an additional 2,881 shares during the quarter. Broadcom comprises approximately 5.0% of Kurv Investment Management LLC's holdings, making the stock its 5th largest position. Kurv Investment Management LLC's holdings in Broadcom were worth $9,972,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Cornerstone Advisors LLC bought a new position in Broadcom in the 2nd quarter valued at approximately $92,522,000. GAMMA Investing LLC increased its holdings in shares of Broadcom by 8.8% in the 3rd quarter. GAMMA Investing LLC now owns 164,015 shares of the semiconductor manufacturer's stock worth $55,889,000 after purchasing an additional 13,317 shares in the last quarter. ANB Bank bought a new stake in shares of Broadcom in the 3rd quarter worth $1,181,000. Bank of America Corp DE raised its stake in shares of Broadcom by 1.5% in the first quarter. Bank of America Corp DE now owns 58,737,097 shares of the semiconductor manufacturer's stock worth $18,179,719,000 after purchasing an additional 894,564 shares during the last quarter. Finally, Clear Harbor Asset Management LLC purchased a new position in shares of Broadcom in the second quarter worth $3,302,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Up 3.1%

NASDAQ AVGO opened at $332.13 on Wednesday. The stock's 50-day moving average price is $351.35 and its 200-day moving average price is $366.76. The company has a quick ratio of 2.29, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. Broadcom Inc. has a 52 week low of $289.96 and a 52 week high of $495.00. The company has a market capitalization of $1.59 trillion, a P/E ratio of 42.42 and a beta of 1.49.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share for the quarter, beating analysts' consensus estimates of $3.22 by $0.10. The firm had revenue of $29.59 billion for the quarter, compared to analysts' expectations of $29.24 billion. Broadcom had a return on equity of 48.33% and a net margin of 42.94%. The business's quarterly revenue was up 85.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.69 EPS. On average, equities research analysts predict that Broadcom Inc. will post 10.37 earnings per share for the current year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st were issued a dividend of $0.65 per share. The ex-dividend date of this dividend was Monday, September 21st. This represents a $2.60 annualized dividend and a yield of 0.8%. Broadcom's payout ratio is currently 33.21%.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom gained alongside other chipmakers as investors continued to favor AI-related stocks. One report says the company’s AI-chip revenue is tripling year over year, reinforcing expectations for continued growth. NVIDIA, AMD and Broadcom stock performance Broadcom's AI growth outlook
• Positive Sentiment: Investor interest is also reflected in ETF activity: 48 funds bought Broadcom shares on Friday, while 30 sold, for reported net purchases of $183.8 million. ETF purchases of Broadcom shares
• Positive Sentiment: Several investment articles highlight Broadcom’s long-term AI opportunity, including its custom-chip and XPU businesses, and name it among favored technology stocks for the coming years. These are analyst and investor opinions, not new company guidance. Broadcom among top technology stocks AI growth stock picks
• Neutral Sentiment: One bullish investor argues that supply bottlenecks, rather than weak demand, are holding back Broadcom—suggesting demand remains strong but fulfillment constraints may delay revenue. Broadcom supply bottlenecks
• Negative Sentiment: Valuation is a counterpoint: some commentary considers the shares expensive despite the company’s growth prospects. Broadcom’s custom-chip opportunity also depends on customers continuing to develop their own processors, unlike TSMC, which serves multiple chip designers. Broadcom valuation concerns Taiwan Semiconductor versus Broadcom

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Morgan Stanley restated an "overweight" rating and set a $505.00 target price (up from $502.00) on shares of Broadcom in a research note on Thursday, September 3rd. Lake Street Capital upgraded shares of Broadcom to a "buy" rating in a research report on Thursday, September 3rd. JPMorgan Chase & Co. restated a "buy" rating on shares of Broadcom in a report on Thursday, September 3rd. William Blair downgraded shares of Broadcom from an "outperform" rating to a "market perform" rating in a research report on Tuesday, October 27th. Finally, TD Cowen reiterated a "buy" rating and set a $475.00 target price (down from $500.00) on shares of Broadcom in a research note on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Broadcom currently has an average rating of "Moderate Buy" and a consensus price target of $530.52.

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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