Broadcom Inc. $AVGO Shares Purchased by IPG Investment Advisors LLC

IPG Investment Advisors LLC boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 22.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 24,882 shares of the semiconductor manufacturer’s stock after buying an additional 4,592 shares during the quarter. Broadcom accounts for 1.2% of IPG Investment Advisors LLC’s investment portfolio, making the stock its 18th biggest holding. IPG Investment Advisors LLC’s holdings in Broadcom were worth $8,738,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Core Capital Management & Research inc. purchased a new position in shares of Broadcom during the second quarter valued at $31,000. Harborfront Financial Group LLC acquired a new stake in Broadcom during the 2nd quarter worth about $38,000. DecisionPoint Financial LLC grew its stake in Broadcom by 101.9% during the 3rd quarter. DecisionPoint Financial LLC now owns 105 shares of the semiconductor manufacturer’s stock valued at $36,000 after acquiring an additional 53 shares in the last quarter. Align Financial LLC grew 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, Curry Webb Wealth Management LLC acquired a new position in shares of Broadcom in the 3rd quarter valued at about $41,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s AI semiconductor revenue is surging, and management sees significant growth potential over the next several years. One analysis argues that the market may not yet reflect that opportunity; another estimates the shares could be undervalued. Prediction: November Will Be a Huge Month for Broadcom Broadcom Stock Could Be 37% Undervalued
• Neutral Sentiment: Some coverage frames the recent pullback as a potential turning point, with a widening gap between AI business growth and the share-price trend. Whether fundamentals prompt a recovery remains uncertain. Broadcom Stock Could Be Approaching a Major Turning Point
• Negative Sentiment: Near-term risks include the broad AI-chip selloff and worries that higher interest rates could curb AI spending. Potential limits on new data-center permits in some states add uncertainty about future infrastructure buildouts. Broadcom’s AI Revenue Is Exploding. Here’s What Investors Should Watch Next. Broadcom Drops Amid Broad Chip Selloff
• Negative Sentiment: Investor positioning has also weighed on sentiment: ARK sold a large Broadcom holding during the selloff while buying Nvidia. Broadcom is still down sharply over the past month, despite the recent lift. ARK Buys Nvidia and Sells Broadcom Broadcom Is Still Down 22% in the Past Month

Analyst Ratings Changes

AVGO has been the subject of several recent research reports. Evercore set a $578.00 price objective on Broadcom and gave the stock an “outperform” rating in a report on Thursday, September 3rd. Tigress Financial began coverage on Broadcom in a report on Thursday, October 22nd. They set a “buy” rating and a $600.00 target price on the stock. Bank of America reduced their price target on Broadcom from $530.00 to $460.00 and set a “buy” rating for the company in a research report on Thursday, September 3rd. Raymond James Financial restated an “outperform” rating and issued a $475.00 price objective (up from $450.00) on shares of Broadcom in a research note on Thursday, September 3rd. Finally, Citic Securities upgraded shares of Broadcom to a “buy” rating and raised their target price for the company from $450.00 to $525.00 in a research note on Tuesday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Broadcom has an average rating of “Moderate Buy” and an average target price of $530.52.

Broadcom Stock Performance

Shares of AVGO traded up $2.16 during trading hours on Friday, reaching $293.69. 32,366,942 shares of the company traded hands, compared to its average volume of 22,165,412. 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’s fifty day moving average is $347.89 and its 200 day moving average is $366.17. Broadcom Inc. has a 1-year low of $289.77 and a 1-year high of $495.00. The stock has a market cap of $1.40 trillion, a P/E ratio of 37.51 and a beta of 1.49.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 EPS for the quarter, topping analysts’ consensus estimates of $3.22 by $0.10. The company had revenue of $29.59 billion during 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 quarterly revenue was up 85.5% on a year-over-year basis. During the same quarter last year, the company earned $1.69 EPS. Equities research analysts anticipate that Broadcom Inc. will post 10.37 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders 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 yield of 0.9%. Broadcom’s payout ratio is currently 33.21%.

Broadcom Profile

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.