Broadcom Inc. $AVGO Shares Newly Acquired by StoneRidge PMG Advisors LLC

StoneRidge PMG Advisors LLC bought a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 15,906 shares of the semiconductor manufacturer’s stock, valued at approximately $5,586,000. Broadcom accounts for about 3.8% of StoneRidge PMG Advisors LLC’s portfolio, making the stock its 5th largest position.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Legal & General Group Plc purchased a new position in Broadcom during the second quarter worth approximately $11,998,148,000. Bank of New York Mellon Corp purchased a new stake in shares of Broadcom in the second quarter valued at approximately $10,528,191,000. Jupiter Topco LLC acquired a new position in shares of Broadcom during the 2nd quarter worth approximately $7,396,271,000. State Street Corp raised its stake in shares of Broadcom by 8.7% during the 2nd quarter. State Street Corp now owns 208,031,610 shares of the semiconductor manufacturer’s stock worth $75,367,711,000 after buying an additional 16,651,378 shares during the period. Finally, Deutsche Bank AG acquired a new position in shares of Broadcom during the 2nd quarter worth approximately $5,661,216,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Recent Broadcom Headlines

These are some of the AVGO headlines that stood out recently:

• Positive Sentiment: Analysts say Google’s latest TPU developments reinforce Broadcom’s central role in custom AI chips, supporting expectations for ongoing demand from major technology customers. Google’s latest TPUs show Broadcom remains central: JPM
• Neutral Sentiment: Some commentary views Broadcom as a potential beneficiary of continued AI investment, while noting that its shares have retreated from earlier highs. Am I Buying the Dip in Broadcom Stock?
• Negative Sentiment: Risks include Broadcom’s valuation and the possibility that debt-financed AI infrastructure spending could expose the company to credit risk if demand or customer finances weaken. Broadcom: A Great TPU Business With a New Kind of Credit Risk Attached

Broadcom Price Performance

NASDAQ:AVGO opened at $345.22 on Thursday. Broadcom Inc. has a 12 month low of $289.77 and a 12 month high of $495.00. The stock has a 50 day moving average of $345.65 and a two-hundred day moving average of $366.28. 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 firm has a market cap of $1.65 trillion, a P/E ratio of 44.09 and a beta of 1.49.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 48.33% and a net margin of 42.94%. The business’s revenue was up 85.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.69 earnings per share. On average, analysts expect that Broadcom Inc. will post 10.37 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

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. This represents a $2.60 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Monday, September 21st. Broadcom’s payout ratio is presently 33.21%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AVGO. The Goldman Sachs Group increased their target price on Broadcom from $525.00 to $540.00 and gave the company a “buy” rating in a research report on Thursday, September 3rd. Raymond James Financial reissued an “outperform” rating and issued a $475.00 price target (up from $450.00) on shares of Broadcom in a report on Thursday, September 3rd. HC Wainwright began coverage on shares of Broadcom in a research report on Tuesday, October 27th. They set a “buy” rating for the company. Oppenheimer assumed coverage on shares of Broadcom in a research report on Tuesday, October 27th. They set a “buy” rating for the company. Finally, Wall Street Zen downgraded shares of Broadcom from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $530.52.

About Broadcom

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.