Sage Private Wealth Group LLC Purchases 5,040 Shares of Broadcom Inc. $AVGO

Key Points

• Sage Private Wealth Group more than doubled its Broadcom stake in the third quarter, adding 5,040 shares to own 9,777 shares valued at approximately $3.43 million. Institutional investors collectively hold 76.43% of Broadcom.
• Analyst sentiment remains positive, with Broadcom receiving a consensus “Moderate Buy” rating and an average price target of $529.17, despite some recent hold-rating downgrades.
• Broadcom reported strong quarterly results, with EPS of $3.32 beating estimates and revenue rising 85.5% year over year to $29.59 billion. Shares recently traded at $321.68, while investors continue to monitor risks from AI-chip competition and customer supplier diversification.

Sage Private Wealth Group LLC grew its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 106.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,777 shares of the semiconductor manufacturer's stock after acquiring an additional 5,040 shares during the quarter. Broadcom comprises 1.1% of Sage Private Wealth Group LLC's holdings, making the stock its 21st largest holding. Sage Private Wealth Group LLC's holdings in Broadcom were worth $3,434,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of AVGO. Networth Advisors LLC lifted its stake in shares of Broadcom by 546.2% in the first quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer's stock valued at $26,000 after buying an additional 71 shares in the last quarter. Core Capital Management & Research inc. purchased a new stake in Broadcom in the 2nd quarter valued at $31,000. Harborfront Financial Group LLC bought a new position in Broadcom during the 2nd quarter valued at $38,000. Align Financial LLC lifted its stake in Broadcom by 67.2% during the 3rd quarter. Align Financial LLC now owns 112 shares of the semiconductor manufacturer's stock valued at $38,000 after acquiring an additional 45 shares in the last quarter. Finally, IMG Wealth Management Inc. purchased a new position in Broadcom during the 2nd quarter worth $64,000. 76.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Erste Group Bank reiterated a "hold" rating on shares of Broadcom in a research note on Tuesday, July 7th. Lake Street Capital raised shares of Broadcom to a "buy" rating in a research report on Thursday, September 3rd. Morgan Stanley restated an "overweight" rating and set a $505.00 price target (up from $502.00) on shares of Broadcom in a report on Thursday, September 3rd. Arete Research upped their price objective on shares of Broadcom from $488.00 to $530.00 and gave the stock a "buy" rating in a research report on Tuesday, July 21st. Finally, UBS Group lowered shares of Broadcom from a "buy" rating to a "hold" rating in a research note on Thursday, September 3rd. One analyst has rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Broadcom presently has a consensus rating of "Moderate Buy" and an average target price of $529.17.

Broadcom Stock Down 0.5%

Shares of NASDAQ:AVGO opened at $321.68 on Friday. The company has a market capitalization of $1.54 trillion, a PE ratio of 41.08 and a beta of 1.46. 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 business has a fifty day moving average price of $356.05 and a two-hundred day moving average price of $384.25. Broadcom Inc. has a 1 year low of $289.96 and a 1 year high of $495.00.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced 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. The firm had revenue of $29.59 billion during the quarter, compared to analyst estimates of $29.24 billion. Broadcom had a return on equity of 48.33% and a net margin of 42.94%. The business's revenue was up 85.5% compared to the same quarter last year. During the same period last year, the firm posted $1.69 EPS. Analysts forecast that Broadcom Inc. will post 10.37 earnings per share for the current year.

Broadcom Dividend Announcement

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

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: ETF investors bought approximately $89.8 million of Broadcom shares on October 21, signaling continued institutional demand. Broadcom Sees $89.8 Million in Net ETF Buying
• Positive Sentiment: Analysts continue to highlight Broadcom’s leadership in custom AI accelerators. Demand from major AI labs and hyperscalers, including Anthropic, OpenAI and Meta, supports management’s ambitious long-term AI semiconductor growth outlook. 3 Magnificent AI Chip Stocks
• Positive Sentiment: Tigress Financial initiated coverage with a Buy rating and a $600 price target, implying substantial upside from recent trading levels. Tigress Financial Broadcom Coverage
• Positive Sentiment: Broadcom launched Arcot Scam Defense, a real-time fraud-detection feature for digital payments. Strong initial pilot results could create incremental growth for its software and security businesses. Broadcom Debuts Arcot Scam Defense
• Neutral Sentiment: Broadcom remains the leading custom-chip design partner, but Alphabet is diversifying its TPU suppliers. Although Broadcom may lose market share, the overall AI accelerator market is expected to expand rapidly, potentially offsetting that loss. Broadcom AI Chip Business Risks
• Negative Sentiment: Investors are worried that customer-owned chip design and increased competition from MediaTek could reduce Broadcom’s role and margins in future AI programs. Alphabet’s supplier diversification is the clearest near-term risk. Broadcom AI Chip Business Risks
• Negative Sentiment: The broader market sell-off is weighing on AI stocks amid higher oil prices, inflation concerns and questions about whether massive data-center investments will generate sufficient returns. Technical commentary identifies the $320 area as an important support test. Broadcom Faces Critical $320 Test

Broadcom Company Profile

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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