Broadcom Inc. $AVGO Stock: ProShare Advisors LLC Raises Holdings

ProShare Advisors LLC increased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 9.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,006,996 shares of the semiconductor manufacturer’s stock after buying an additional 259,737 shares during the quarter. Broadcom comprises 1.5% of ProShare Advisors LLC’s portfolio, making the stock its 9th largest holding. ProShare Advisors LLC owned about 0.06% of Broadcom worth $1,056,027,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Core Capital Management & Research inc. bought a new position in Broadcom in the 2nd quarter valued at about $31,000. DecisionPoint Financial LLC raised its position in shares of Broadcom by 101.9% during the 3rd quarter. DecisionPoint Financial LLC now owns 105 shares of the semiconductor manufacturer’s stock worth $36,000 after buying an additional 53 shares in the last quarter. Harborfront Financial Group LLC bought a new stake in shares of Broadcom during the 2nd quarter worth about $38,000. Align Financial LLC lifted its stake in shares of Broadcom by 67.2% in the 3rd quarter. Align Financial LLC now owns 112 shares of the semiconductor manufacturer’s stock worth $38,000 after acquiring an additional 45 shares during the period. Finally, Curry Webb Wealth Management LLC acquired a new stake in shares of Broadcom in the 3rd quarter worth approximately $41,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AVGO. Evercore set a $578.00 price objective on shares of Broadcom and gave the company an “outperform” rating in a report on Thursday, September 3rd. DA Davidson upgraded Broadcom from a “neutral” rating to a “buy” rating and upped their target price for the stock from $350.00 to $400.00 in a research report on Tuesday, October 27th. BNP Paribas Exane increased their price target on Broadcom from $675.00 to $715.00 and gave the company an “outperform” rating in a research note on Friday, September 4th. President Capital lifted their price target on Broadcom from $520.00 to $546.00 and gave the company a “buy” rating in a research report on Thursday, September 3rd. Finally, Royal Bank Of Canada began coverage on Broadcom in a research report on Thursday, September 3rd. They set an “outperform” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $530.52.

Broadcom Stock Down 2.0%

AVGO stock opened at $325.60 on Thursday. The firm has a market cap of $1.55 trillion, a PE ratio of 41.58 and a beta of 1.49. Broadcom Inc. has a 12 month low of $289.96 and a 12 month high of $495.00. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.29. The firm has a 50 day simple moving average of $350.73 and a 200 day simple moving average of $366.67.

Broadcom (NASDAQ:AVGO) last posted its quarterly 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 firm 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%. The firm’s quarterly revenue was up 85.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.69 earnings per share. Equities research analysts forecast that Broadcom Inc. will post 10.37 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Monday, September 21st were issued a $0.65 dividend. 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 payout ratio is presently 33.21%.

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

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.