MFG Investments LLC Purchases New Shares in Broadcom Inc. $AVGO

MFG Investments LLC purchased a new position in Broadcom Inc. (NASDAQ:AVGO) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,182 shares of the semiconductor manufacturer’s stock, valued at approximately $766,000.

A number of other institutional investors have also added to or reduced their stakes in AVGO. Core Capital Management & Research inc. purchased a new stake in shares of Broadcom in the 2nd quarter worth about $31,000. DecisionPoint Financial LLC increased its stake in shares of Broadcom by 101.9% in the 3rd quarter. DecisionPoint Financial LLC now owns 105 shares of the semiconductor manufacturer’s stock worth $36,000 after acquiring an additional 53 shares in the last quarter. Harborfront Financial Group LLC purchased a new position in Broadcom during the 2nd quarter valued at about $38,000. Align Financial LLC lifted its position 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 during the period. Finally, Curry Webb Wealth Management LLC bought a new stake in Broadcom during the third quarter worth about $41,000. Institutional investors own 76.43% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on AVGO shares. 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 note on Thursday, September 3rd. Sanford C. Bernstein restated a “buy” rating on shares of Broadcom in a research note on Monday, September 21st. Truist Financial cut their price target on Broadcom from $550.00 to $520.00 and set a “buy” rating on the stock in a research note on Thursday, September 3rd. HC Wainwright initiated coverage on Broadcom in a research report on Tuesday, October 27th. They set a “buy” rating for the company. Finally, Citic Securities upgraded Broadcom to a “buy” rating and lifted their price objective for the company from $450.00 to $525.00 in a research note on Tuesday, September 8th. One 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’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $530.52.

Broadcom Stock Up 0.7%

NASDAQ:AVGO traded up $2.16 on Friday, reaching $293.69. 32,366,942 shares of the stock traded hands, compared to its average volume of 22,165,412. The company has a market capitalization of $1.40 trillion, a price-to-earnings ratio of 37.51 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 12 month low of $289.77 and a 12 month high of $495.00. The company’s fifty day simple moving average is $347.89 and its 200 day simple moving average is $366.17.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $0.10. The business had revenue of $29.59 billion during the quarter, compared to analysts’ expectations of $29.24 billion. Broadcom had a net margin of 42.94% and a return on equity of 48.33%. The business’s revenue for the quarter was up 85.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.69 earnings per share. Equities analysts predict that Broadcom Inc. will post 10.37 EPS for the current fiscal year.

Broadcom Announces Dividend

The company 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 annualized dividend and a dividend yield of 0.9%. Broadcom’s dividend payout ratio (DPR) is 33.21%.

Broadcom News Summary

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

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.