Broadcom Inc. $AVGO Stock Acquired by Watershed Private Wealth LLC

Watershed Private Wealth LLC increased its position in Broadcom Inc. (NASDAQ:AVGO) by 107.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 3,448 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,788 shares during the period. Watershed Private Wealth LLC’s holdings in Broadcom were worth $1,211,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AVGO. New Capital Management LP boosted its stake in shares of Broadcom by 8.5% during the 3rd quarter. New Capital Management LP now owns 1,858 shares of the semiconductor manufacturer’s stock worth $653,000 after acquiring an additional 146 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of Broadcom by 0.5% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 584,943 shares of the semiconductor manufacturer’s stock valued at $205,426,000 after acquiring an additional 2,872 shares in the last quarter. Summa Corp. raised its stake in shares of Broadcom by 4.4% in the 3rd quarter. Summa Corp. now owns 2,088 shares of the semiconductor manufacturer’s stock valued at $733,000 after acquiring an additional 88 shares in the last quarter. First Nebraska Trust Co acquired a new stake in Broadcom in the 3rd quarter worth approximately $782,000. Finally, IPG Investment Advisors LLC lifted its holdings in Broadcom by 22.6% in the 3rd quarter. IPG Investment Advisors LLC now owns 24,882 shares of the semiconductor manufacturer’s stock worth $8,738,000 after purchasing an additional 4,592 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Key Broadcom News

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

Wall Street Analysts Forecast Growth

AVGO has been the subject of a number of recent analyst reports. Jefferies Financial Group assumed coverage on Broadcom in a research report on Thursday, September 3rd. They set a “buy” rating and a $550.00 target price for the company. BMO Capital Markets lifted their target price on shares of Broadcom from $455.00 to $575.00 and gave the stock an “outperform” rating in a report on Thursday, September 3rd. Evercore set a $578.00 price target on Broadcom and gave the stock an “outperform” rating in a report on Thursday, September 3rd. Sanford C. Bernstein restated a “buy” rating on shares of Broadcom in a research note on Monday, September 21st. Finally, Tigress Financial initiated coverage on shares of Broadcom in a research note on Thursday, October 22nd. They issued a “buy” rating and a $600.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $530.52.

Broadcom Trading Up 0.7%

Shares of NASDAQ:AVGO traded up $2.16 during midday trading on Friday, hitting $293.69. The company had a trading volume of 32,366,942 shares, compared to its average volume of 22,165,412. Broadcom Inc. has a 12 month low of $289.77 and a 12 month high of $495.00. 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 stock has a market cap of $1.40 trillion, a price-to-earnings ratio of 37.51 and a beta of 1.49. The firm has a fifty day simple moving average of $347.89 and a 200 day simple moving average of $366.17.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data 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 return on equity of 48.33% and a net margin of 42.94%. The business had revenue of $29.59 billion during the quarter, compared to the consensus estimate of $29.24 billion. During the same quarter in the prior year, the company posted $1.69 earnings per share. The firm’s revenue was up 85.5% on a year-over-year basis. On average, analysts predict that Broadcom Inc. will post 10.37 EPS for the current year.

Broadcom Announces Dividend

The business also recently declared 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 0.9%. Broadcom’s dividend payout ratio is 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.