3,958,084 Shares of Broadcom Inc. $AVGO Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. bought a new stake in Broadcom Inc. (NASDAQ:AVGO) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,958,084 shares of the semiconductor manufacturer’s stock, valued at approximately $1,390,040,000. Broadcom makes up approximately 2.5% of Mirae Asset Global Investments Co. Ltd.’s holdings, making the stock its 8th biggest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp lifted its stake in Broadcom by 8.7% during the second quarter. State Street Corp now owns 208,031,610 shares of the semiconductor manufacturer’s stock worth $75,367,711,000 after purchasing an additional 16,651,378 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Broadcom by 4.6% in the 2nd quarter. Bank of America Corp DE now owns 61,423,013 shares of the semiconductor manufacturer’s stock valued at $23,202,543,000 after purchasing an additional 2,685,916 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Broadcom by 3.8% in the 2nd 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 increased its stake in shares of Broadcom by 2.9% in the 2nd 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 acquired a new position in shares of Broadcom during the 2nd quarter worth $11,998,148,000. Institutional investors own 76.43% of the company’s stock.

Broadcom News Roundup

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Cantor Fitzgerald upped their price objective on Broadcom from $525.00 to $600.00 and gave the stock an “overweight” rating in a research report on Thursday, September 3rd. Truist Financial lowered their target price on Broadcom from $550.00 to $520.00 and set a “buy” rating for the company in a research note on Thursday, September 3rd. KeyCorp reissued an “overweight” rating and issued a $575.00 target price on shares of Broadcom in a report on Thursday, September 3rd. Arete Research raised their price target on shares of Broadcom from $488.00 to $530.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. Finally, Weiss Ratings raised shares of Broadcom from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $530.52.

Broadcom Price Performance

Broadcom stock opened at $325.60 on Thursday. The stock’s 50 day moving average is $350.73 and its 200 day moving average is $366.67. Broadcom Inc. has a one year low of $289.96 and a one year high of $495.00. The firm has a market cap of $1.55 trillion, a P/E ratio of 41.58 and a beta of 1.49. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.29.

Broadcom (NASDAQ:AVGO) last issued its quarterly 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. Broadcom had a net margin of 42.94% and a return on equity of 48.33%. The business had revenue of $29.59 billion for the quarter, compared to analysts’ expectations of $29.24 billion. During the same quarter in the prior year, the firm posted $1.69 earnings per share. The business’s quarterly revenue was up 85.5% compared to the same quarter last year. As a group, research analysts expect that Broadcom Inc. will post 10.37 EPS for the current year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Monday, September 21st. Broadcom’s dividend payout ratio is presently 33.21%.

About Broadcom

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.