Mirador Capital Partners LP Purchases 7,787 Shares of Broadcom Inc. $AVGO

Key Points

• Mirador Capital Partners increased its Broadcom stake by 57.6% in the third quarter, purchasing 7,787 additional shares for a total holding of 21,297 shares valued at approximately $7.48 billion. Institutional investors collectively own 76.43% of Broadcom.
• Broadcom reported quarterly revenue of $29.59 billion, up 85.5% year over year, and adjusted EPS of $3.32, exceeding analyst expectations. Analysts project full-year EPS of $10.37.
• Broadcom continues to benefit from strong AI infrastructure demand, including potential custom-chip work with OpenAI and new networking technologies for hyperscale AI clusters. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $527.20.

Mirador Capital Partners LP increased its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 57.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,297 shares of the semiconductor manufacturer's stock after acquiring an additional 7,787 shares during the quarter. Mirador Capital Partners LP's holdings in Broadcom were worth $7,479,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in AVGO. Legal & General Group Plc purchased a new position in Broadcom during the second quarter valued at approximately $11,998,148,000. Bank of New York Mellon Corp bought a new stake in Broadcom during the 2nd quarter valued at $10,528,191,000. Jupiter Topco LLC purchased a new position in shares of Broadcom in the 2nd quarter valued at $7,396,271,000. State Street Corp raised its position in shares of Broadcom by 8.7% in the 2nd quarter. State Street Corp now owns 208,031,610 shares of the semiconductor manufacturer's stock worth $75,367,711,000 after acquiring an additional 16,651,378 shares in the last quarter. Finally, Deutsche Bank AG bought a new position in shares of Broadcom in the 2nd quarter worth $5,661,216,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Broadcom Stock Performance

AVGO opened at $361.54 on Friday. Broadcom Inc. has a 52-week low of $289.96 and a 52-week high of $495.00. The company has a quick ratio of 2.29, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. The company has a market cap of $1.73 trillion, a P/E ratio of 46.17 and a beta of 1.46. The firm's 50-day moving average price is $371.24 and its 200-day moving average price is $382.38.

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, 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 for the quarter, compared to the consensus estimate of $29.24 billion. During the same period in the prior year, the firm earned $1.69 EPS. The firm's revenue was up 85.5% on a year-over-year basis. As a group, equities analysts anticipate that Broadcom Inc. will post 10.37 EPS for the current fiscal year.

Broadcom Announces Dividend

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

Trending Headlines about Broadcom

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

Analyst Upgrades and Downgrades

AVGO has been the subject of a number of recent research reports. Wall Street Zen downgraded shares of Broadcom from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 18th. Fox Advisors raised shares of Broadcom to an "outperform" rating in a research report on Thursday, September 3rd. BNP Paribas Exane boosted their price objective 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. UBS Group cut shares of Broadcom from a "buy" rating to a "hold" rating in a research report on Thursday, September 3rd. Finally, Bank of America cut their price target on shares of Broadcom from $530.00 to $460.00 and set a "buy" rating on the stock in a report on Thursday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, thirty-seven have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $527.20.

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 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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