Mirae Asset Global Investments Co. Ltd. Acquires New Shares in Broadcom Inc. $AVGO

Mirae Asset Global Investments Co. Ltd. acquired a new stake in Broadcom Inc. (NASDAQ:AVGO) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,958,084 shares of the semiconductor manufacturer’s stock, valued at approximately $1,390,040,000. Broadcom comprises about 2.5% of Mirae Asset Global Investments Co. Ltd.’s holdings, making the stock its 8th largest position. Mirae Asset Global Investments Co. Ltd. owned 0.08% of Broadcom at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Pilgrim Partners Asia Pte Ltd lifted its holdings in Broadcom by 9.9% during the 3rd quarter. Pilgrim Partners Asia Pte Ltd now owns 4,528 shares of the semiconductor manufacturer’s stock valued at $1,590,000 after purchasing an additional 408 shares during the last quarter. SFE Investment Counsel boosted its position in Broadcom by 3.9% during the third quarter. SFE Investment Counsel now owns 59,183 shares of the semiconductor manufacturer’s stock worth $20,784,000 after purchasing an additional 2,232 shares during the period. ProShare Advisors LLC boosted its position in Broadcom by 9.5% during the third quarter. ProShare Advisors LLC now owns 3,006,996 shares of the semiconductor manufacturer’s stock worth $1,056,027,000 after purchasing an additional 259,737 shares during the period. Vise Technologies Inc. increased its holdings in shares of Broadcom by 11.7% in the third quarter. Vise Technologies Inc. now owns 250,673 shares of the semiconductor manufacturer’s stock valued at $88,034,000 after purchasing an additional 26,336 shares during the last quarter. Finally, Investment Partners LTD. acquired a new position in shares of Broadcom in the third quarter valued at $643,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s AI semiconductor revenue reached $16.7 billion, exceeding its $16 billion target, and management expects higher AI revenue next quarter. That supports the view that demand for its custom AI chips remains strong despite competition from Marvell. Article: Is Broadcom Stock a Buy Now?
• Positive Sentiment: ETFs purchased $267.7 million of Broadcom shares on Nov. 2, a sign of institutional demand, though fund flows can be short-lived and do not guarantee further gains. Article: 53 ETFs Add to Broadcom Holdings
• Neutral Sentiment: A report tied midterm-election results and a potential Texas permit freeze to concerns about AI data-center investment. The article does not establish a direct effect on Broadcom, but any broader slowdown in data-center construction could weigh on AI infrastructure suppliers. Article: Steve Weiss Says the Midterms Just Put a Lid on AI Spending
• Negative Sentiment: Broadcom underperformed in a rising market. Coverage describing the session offered no specific explanation, leaving the decline potentially tied to market sentiment or profit-taking rather than a disclosed change in the company’s outlook. Article: Broadcom Stock Slides as Market Rises
• Negative Sentiment: Some commentary flags valuation as a risk, while Broadcom’s custom-chip opportunity depends on customers continuing to develop their own processors. That leaves the stock vulnerable if growth expectations cool or customer plans change. Article: Taiwan Semi or Broadcom

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AVGO. Rosenblatt Securities restated a “buy” rating and set a $600.00 target price on shares of Broadcom in a research note on Tuesday, October 27th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Broadcom in a research note on Thursday, September 3rd. Wedbush initiated coverage on shares of Broadcom in a research report on Tuesday, October 27th. They set an “outperform” rating for the company. Jefferies Financial Group began coverage on Broadcom in a report on Thursday, September 3rd. They set a “buy” rating and a $550.00 price objective for the company. Finally, BNP Paribas Exane upped their target price on Broadcom from $675.00 to $715.00 and gave the company an “outperform” rating in a research report on Friday, September 4th. One research analyst has rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and an average price target of $530.52.

Broadcom Trading Down 2.0%

AVGO stock opened at $325.60 on Thursday. Broadcom Inc. has a 52 week low of $289.96 and a 52 week high of $495.00. The company has a market capitalization of $1.55 trillion, a PE ratio of 41.58 and a beta of 1.49. The company’s 50-day simple moving average is $350.73 and its 200 day simple moving average is $366.67. 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) last posted 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 firm had revenue of $29.59 billion during the quarter, compared to the consensus estimate of $29.24 billion. During the same quarter in the previous year, the firm posted $1.69 EPS. The business’s revenue for the quarter was up 85.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Broadcom Inc. will post 10.37 earnings per share for the current year.

Broadcom Announces Dividend

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 of this dividend was Monday, September 21st. This represents a $2.60 dividend on an annualized basis and a yield of 0.8%. Broadcom’s dividend payout ratio is currently 33.21%.

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 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.