Lincoln Capital LLC Buys 21,096 Shares of Broadcom Inc. $AVGO

Lincoln Capital LLC bought a new stake in Broadcom Inc. (NASDAQ:AVGO) during the 3rd quarter, HoldingsChannel reports. The fund bought 21,096 shares of the semiconductor manufacturer’s stock, valued at approximately $7,409,000. Broadcom comprises 1.3% of Lincoln Capital LLC’s portfolio, making the stock its 16th biggest position.

Several other hedge funds also recently modified their holdings of the company. Cornerstone Advisors LLC bought a new stake in shares of Broadcom in the 2nd quarter valued at approximately $92,522,000. GAMMA Investing LLC lifted its stake in shares of Broadcom by 8.8% in the 3rd quarter. GAMMA Investing LLC now owns 164,015 shares of the semiconductor manufacturer’s stock valued at $55,889,000 after purchasing an additional 13,317 shares during the period. Bank of America Corp DE grew its stake in shares of Broadcom by 1.5% during the first quarter. Bank of America Corp DE now owns 58,737,097 shares of the semiconductor manufacturer’s stock worth $18,179,719,000 after purchasing an additional 894,564 shares during the period. Clear Harbor Asset Management LLC acquired a new position in Broadcom during the second quarter valued at approximately $3,302,000. Finally, Bartlett & CO. Wealth Management LLC increased its stake in Broadcom by 129.3% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 110,048 shares of the semiconductor manufacturer’s stock worth $34,061,000 after purchasing an additional 62,050 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AVGO. Cantor Fitzgerald raised their target price on shares of Broadcom from $525.00 to $600.00 and gave the company an “overweight” rating in a research report on Thursday, September 3rd. Wall Street Zen lowered Broadcom from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 18th. Dbs Bank raised Broadcom to a “moderate buy” rating in a report on Thursday, June 18th. Royal Bank Of Canada assumed coverage on Broadcom in a research note on Thursday, September 3rd. They issued an “outperform” rating on the stock. Finally, Evercore set a $578.00 target price on Broadcom and gave the stock an “outperform” rating in a research 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 assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and a consensus price target of $527.20.

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

Broadcom Stock Performance

Shares of AVGO stock opened at $361.54 on Friday. 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 firm has a market capitalization of $1.73 trillion, a price-to-earnings ratio of 46.17 and a beta of 1.46. Broadcom Inc. has a 52 week low of $289.96 and a 52 week high of $495.00. The stock has a fifty day moving average of $371.24 and a 200 day moving average of $382.38.

Broadcom (NASDAQ:AVGO) last issued its earnings results 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 business had revenue of $29.59 billion for the quarter, compared to the consensus estimate of $29.24 billion. Broadcom had a return on equity of 48.33% and a net margin of 42.94%. The company’s revenue was up 85.5% compared to the same quarter last year. During the same period last year, the business posted $1.69 EPS. As a group, research analysts expect that Broadcom Inc. will post 10.37 earnings per share for the current year.

Broadcom Announces Dividend

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