Wealth Science Advisors LLC Sells 2,311 Shares of Broadcom Inc. $AVGO

Key Points

• Wealth Science Advisors reduced its Broadcom stake by 15.5%, selling 2,311 shares and retaining 12,560 shares worth approximately $4.41 million. Institutional investors overall own 76.43% of Broadcom.
• Broadcom reported quarterly EPS of $3.32, beating estimates, while revenue rose 85.5% year over year to $29.59 billion. The company also declared a quarterly dividend of $0.65 per share, equivalent to a 0.7% yield.
• Analysts remain broadly optimistic, with a “Moderate Buy” consensus rating and an average price target of $527.20 versus the reported share price of $361.54, supported by strong AI-chip and networking demand.

Wealth Science Advisors LLC cut its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 15.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 12,560 shares of the semiconductor manufacturer's stock after selling 2,311 shares during the period. Broadcom makes up about 1.9% of Wealth Science Advisors LLC's investment portfolio, making the stock its 11th largest holding. Wealth Science Advisors LLC's holdings in Broadcom were worth $4,411,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. State Street Corp increased its position in shares of Broadcom by 8.7% during the second quarter. State Street Corp now owns 208,031,610 shares of the semiconductor manufacturer's stock valued at $75,367,711,000 after acquiring an additional 16,651,378 shares in the last quarter. Bank of America Corp DE raised its holdings in 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 worth $23,202,543,000 after acquiring an additional 2,685,916 shares during the last quarter. Wellington Management Group LLP raised its holdings in Broadcom by 3.8% in the 2nd quarter. Wellington Management Group LLP now owns 51,580,703 shares of the semiconductor manufacturer's stock worth $19,484,611,000 after acquiring an additional 1,892,721 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in 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 worth $15,178,195,000 after acquiring an additional 1,140,598 shares during the last quarter. Finally, Legal & General Group Plc bought a new position in Broadcom in the 2nd quarter valued at approximately $11,998,148,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Performance

AVGO opened at $361.54 on Friday. The company's 50 day moving average is $371.24 and its 200 day moving average is $382.38. The company has a current ratio of 2.50, a quick ratio of 2.29 and a debt-to-equity ratio of 0.57. The company has a market cap of $1.73 trillion, a price-to-earnings ratio of 46.17 and a beta of 1.46. Broadcom Inc. has a 12-month low of $289.96 and a 12-month 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 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 during the quarter, compared to analysts' expectations of $29.24 billion. During the same period in the prior year, the company earned $1.69 earnings per share. The firm's revenue was up 85.5% on a year-over-year basis. On average, equities research analysts predict that Broadcom Inc. will post 10.37 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently declared 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. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Monday, September 21st. Broadcom's dividend payout ratio (DPR) is currently 33.21%.

Wall Street Analyst Weigh In

AVGO has been the topic of several analyst reports. President Capital upped their price objective on Broadcom from $520.00 to $546.00 and gave the company a "buy" rating in a research report on Thursday, September 3rd. Cantor Fitzgerald lifted their target price on Broadcom from $525.00 to $600.00 and gave the stock an "overweight" rating in a report on Thursday, September 3rd. KeyCorp reissued an "overweight" rating and issued a $575.00 target price on shares of Broadcom in a report on Thursday, September 3rd. Bank of America decreased their price target on Broadcom from $530.00 to $460.00 and set a "buy" rating for the company in a research note on Thursday, September 3rd. Finally, Citic Securities raised Broadcom to a "buy" rating and upped their price target for the company from $450.00 to $525.00 in a report on Tuesday, September 8th. One analyst has rated the stock with a Strong Buy rating, thirty-seven have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $527.20.

Key Stories Impacting 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

Broadcom Profile

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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