21,923 Broadcom Inc. $AVGO Shares Sold by Heritage Investors Management Corp

Heritage Investors Management Corp reduced its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 4.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 461,054 shares of the semiconductor manufacturer’s stock after selling 21,923 shares during the period. Broadcom accounts for approximately 4.6% of Heritage Investors Management Corp’s portfolio, making the stock its 3rd biggest holding. Heritage Investors Management Corp’s holdings in Broadcom were worth $161,918,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in AVGO. State Street Corp raised its stake in shares of Broadcom by 8.7% in the 2nd 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 boosted its position in Broadcom by 4.6% during the second quarter. Bank of America Corp DE now owns 61,423,013 shares of the semiconductor manufacturer’s stock worth $23,202,543,000 after purchasing an additional 2,685,916 shares during the period. Wellington Management Group LLP grew its holdings in Broadcom by 3.8% during the second quarter. Wellington Management Group LLP now owns 51,580,703 shares of the semiconductor manufacturer’s stock valued at $19,484,611,000 after purchasing an additional 1,892,721 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Broadcom by 2.9% during the second 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 valued at $15,178,195,000 after purchasing an additional 1,140,598 shares during the last quarter. Finally, Legal & General Group Plc bought a new position in shares of Broadcom in the second quarter valued at approximately $11,998,148,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AVGO. Wedbush assumed coverage on shares of Broadcom in a research note on Tuesday, October 27th. They issued an “outperform” rating for the company. Raymond James Financial reiterated an “outperform” rating and issued a $475.00 target price (up from $450.00) on shares of Broadcom in a research note on Thursday, September 3rd. Rosenblatt Securities reiterated a “buy” rating and issued a $600.00 target price on shares of Broadcom in a report on Tuesday, October 27th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Broadcom in a research report on Thursday, September 3rd. Finally, The Goldman Sachs Group upped their price target on shares of Broadcom from $525.00 to $540.00 and gave the company a “buy” rating in a report on Thursday, September 3rd. One 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 stock. According to data from MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus price target of $530.52.

Key Stories 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

Broadcom Trading Down 2.0%

Shares of Broadcom stock opened at $325.60 on Thursday. The company’s fifty day simple moving average is $350.73 and its 200-day simple moving average is $366.67. The company has a market cap of $1.55 trillion, a price-to-earnings ratio of 41.58 and a beta of 1.49. The company has a current ratio of 2.50, a quick ratio of 2.29 and a debt-to-equity ratio of 0.57. Broadcom Inc. has a 1 year low of $289.96 and a 1 year high of $495.00.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.22 by $0.10. The business had revenue of $29.59 billion for the quarter, compared to analyst estimates of $29.24 billion. Broadcom had a net margin of 42.94% and a return on equity of 48.33%. Broadcom’s revenue was up 85.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.69 earnings per share. As a group, sell-side analysts expect that Broadcom Inc. will post 10.37 EPS for the current year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st were issued a dividend of $0.65 per share. The ex-dividend date was Monday, September 21st. This represents a $2.60 annualized dividend and a dividend yield of 0.8%. Broadcom’s payout ratio is presently 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.