PBU The Pension Fund of Early Childhood & Youth Educators Purchases 10,304 Shares of Broadcom Inc. $AVGO

Key Points

• PBU The Pension Fund of Early Childhood & Youth Educators increased its Broadcom stake by 10,304 shares, or 3.3%, ending the quarter with 318,134 shares worth about $111.7 million. Broadcom is 2.6% of its portfolio and its sixth-largest holding.
• Analyst views remain broadly positive: MarketBeat reports a “Moderate Buy” consensus and an average price target of $525.19. Rothschild & Co Redburn cut its rating to Neutral and lowered its target from $595 to $398.
• Broadcom shares fell 4.8% to $347 in Friday trading. Its latest quarterly results beat earnings and revenue estimates, with revenue up 85.5% year over year.

PBU The Pension Fund of Early Childhood & Youth Educators lifted its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 318,134 shares of the semiconductor manufacturer's stock after acquiring an additional 10,304 shares during the period. Broadcom makes up approximately 2.6% of PBU The Pension Fund of Early Childhood & Youth Educators' portfolio, making the stock its 6th biggest position. PBU The Pension Fund of Early Childhood & Youth Educators' holdings in Broadcom were worth $111,725,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AVGO. State Street Corp boosted its holdings in shares of Broadcom by 8.7% during the 2nd quarter. State Street Corp now owns 208,031,610 shares of the semiconductor manufacturer's stock worth $75,367,711,000 after buying an additional 16,651,378 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Broadcom by 4.6% in the 2nd quarter. Bank of America Corp DE now owns 61,423,013 shares of the semiconductor manufacturer's stock valued at $23,202,543,000 after acquiring an additional 2,685,916 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Broadcom by 3.8% in the 2nd quarter. Wellington Management Group LLP now owns 51,580,703 shares of the semiconductor manufacturer's stock valued at $19,484,611,000 after acquiring an additional 1,892,721 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Broadcom by 2.9% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 40,180,530 shares of the semiconductor manufacturer's stock valued at $15,178,195,000 after acquiring an additional 1,140,598 shares in the last quarter. Finally, Legal & General Group Plc acquired a new position in shares of Broadcom during the 2nd quarter valued at $11,998,148,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. restated a "buy" rating on shares of Broadcom in a report on Thursday, September 3rd. William Blair lowered shares of Broadcom from an "outperform" rating to a "market perform" rating in a report on Tuesday, October 27th. Sanford C. Bernstein reiterated a "buy" rating on shares of Broadcom in a report on Monday, September 21st. Piper Sandler initiated coverage on shares of Broadcom in a research report on Wednesday, September 9th. They set an "overweight" rating and a $460.00 price objective on the stock. Finally, Rothschild & Co Redburn downgraded Broadcom from a "buy" rating to a "neutral" rating and reduced their target price for the company from $595.00 to $398.00 in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $525.19.

Broadcom Stock Down 4.8%

AVGO traded down $17.35 during mid-day trading on Friday, reaching $347.01. 31,579,948 shares of the stock were exchanged, compared to its average volume of 26,761,208. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.29 and a current ratio of 2.50. The stock has a market capitalization of $1.66 trillion, a PE ratio of 44.32 and a beta of 1.49. The company has a 50 day moving average price of $345.39 and a two-hundred day moving average price of $366.55. 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 posted its quarterly earnings data on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 EPS for the quarter, beating the consensus estimate of $3.22 by $0.10. The firm had revenue of $29.59 billion during the quarter, compared to analyst estimates of $29.24 billion. Broadcom had a net margin of 42.94% and a return on equity of 48.33%. The company's revenue for the quarter was up 85.5% on a year-over-year basis. During the same quarter last year, the business posted $1.69 EPS. As a group, research analysts anticipate that Broadcom Inc. will post 10.20 EPS for the current year.

Broadcom Announces Dividend

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

Top Broadcom Stories

These are some of the AVGO stories that stood out recently:

• 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?
• Neutral Sentiment: Broadcom had recently rallied as investors considered whether NVIDIA’s leadership turmoil could redirect demand to rival chipmakers. NVIDIA’s rebound on Friday, however, prompted some investors to reassess that rotation. AMD, Broadcom stocks fall as Nvidia rebounds
• 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

About Broadcom

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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