MFG Investments LLC Buys 2,182 Shares of Broadcom Inc. $AVGO

Key Points

• MFG Investments initiated a Broadcom position, buying 2,182 shares worth approximately $766,000 in the third quarter. Institutional investors collectively own 76.43% of the company’s stock.
• Analysts remain broadly positive: Broadcom has a “Moderate Buy” consensus rating and an average price target of $530.52.
• Broadcom’s latest reported quarterly results beat estimates, with EPS of $3.32 and revenue of $29.59 billion, up 85.5% year over year.

MFG Investments LLC bought a new stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,182 shares of the semiconductor manufacturer's stock, valued at approximately $766,000.

A number of other large investors also recently added to or reduced their stakes in AVGO. Third View Private Wealth LLC grew its holdings in shares of Broadcom by 6.8% in the third quarter. Third View Private Wealth LLC now owns 22,413 shares of the semiconductor manufacturer's stock worth $7,871,000 after purchasing an additional 1,426 shares during the last quarter. Provenance Wealth Advisors LLC raised its holdings in Broadcom by 672.3% during the 3rd quarter. Provenance Wealth Advisors LLC now owns 17,841 shares of the semiconductor manufacturer's stock valued at $6,266,000 after buying an additional 15,531 shares during the last quarter. Ackerman Capital Advisors LLC raised its holdings in Broadcom by 46.5% during the 3rd quarter. Ackerman Capital Advisors LLC now owns 1,263 shares of the semiconductor manufacturer's stock valued at $444,000 after buying an additional 401 shares during the last quarter. One Day In July LLC boosted its position in Broadcom by 7.4% during the 3rd quarter. One Day In July LLC now owns 2,807 shares of the semiconductor manufacturer's stock valued at $986,000 after buying an additional 193 shares during the period. Finally, RFG Holdings Inc. boosted its position in Broadcom by 3.1% during the 3rd quarter. RFG Holdings Inc. now owns 9,087 shares of the semiconductor manufacturer's stock valued at $3,192,000 after buying an additional 270 shares during the period. Hedge funds and other institutional investors own 76.43% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Wall Street Zen lowered shares of Broadcom from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 18th. Morgan Stanley reaffirmed an "overweight" rating and set a $505.00 price objective (up from $502.00) on shares of Broadcom in a research note on Thursday, September 3rd. President Capital increased their target price on shares of Broadcom from $520.00 to $546.00 and gave the stock a "buy" rating in a report on Thursday, September 3rd. HC Wainwright initiated coverage on Broadcom in a research note on Tuesday, October 27th. They issued a "buy" rating on the stock. Finally, Citic Securities upgraded Broadcom to a "buy" rating and boosted their price target for the company from $450.00 to $525.00 in a report on Tuesday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, Broadcom currently has an average rating of "Moderate Buy" and an average target price of $530.52.

Broadcom News Summary

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 Trading Up 0.7%

AVGO stock traded up $2.16 on Friday, reaching $293.69. The company's stock had a trading volume of 32,366,942 shares, compared to its average volume of 22,165,412. The business has a fifty day simple moving average of $347.89 and a two-hundred day simple moving average of $366.17. Broadcom Inc. has a 12-month low of $289.77 and a 12-month high of $495.00. The firm has a market cap of $1.40 trillion, a PE ratio of 37.51 and a beta of 1.49. 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 (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share (EPS) for the quarter, beating 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 business had revenue of $29.59 billion for the quarter, compared to the consensus estimate of $29.24 billion. During the same period in the previous year, the firm earned $1.69 EPS. The company's quarterly revenue was up 85.5% compared to the same quarter last year. As a group, research analysts forecast that Broadcom Inc. will post 10.37 EPS for the current year.

Broadcom Dividend Announcement

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

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.

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