Fischer Financial Services Inc. Purchases New Position in Broadcom Inc. $AVGO

Fischer Financial Services Inc. bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 24,580 shares of the semiconductor manufacturer’s stock, valued at approximately $8,632,000. Broadcom makes up about 2.1% of Fischer Financial Services Inc.’s holdings, making the stock its 13th largest holding.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Core Capital Management & Research inc. acquired a new position in Broadcom during the 2nd quarter worth $31,000. Harborfront Financial Group LLC bought a new position in shares of Broadcom during the 2nd quarter valued at about $38,000. DecisionPoint Financial LLC grew its position in Broadcom by 101.9% in the third quarter. DecisionPoint Financial LLC now owns 105 shares of the semiconductor manufacturer’s stock valued at $36,000 after purchasing an additional 53 shares in the last quarter. Align Financial LLC increased its position in Broadcom by 67.2% during the third quarter. Align Financial LLC now owns 112 shares of the semiconductor manufacturer’s stock worth $38,000 after buying an additional 45 shares during the last quarter. Finally, Curry Webb Wealth Management LLC acquired a new position in shares of Broadcom in the third quarter valued at about $41,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AVGO. Raymond James Financial restated 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. Weiss Ratings upgraded shares of Broadcom from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Wedbush assumed coverage on shares of Broadcom in a research note on Tuesday, October 27th. They issued an “outperform” rating on the stock. Wall Street Zen downgraded shares of Broadcom from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 18th. Finally, Piper Sandler began coverage on Broadcom in a report on Wednesday, September 9th. They issued an “overweight” rating and a $460.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $530.52.

Broadcom Price Performance

Shares of Broadcom stock opened at $293.69 on Friday. The firm has a fifty day simple moving average of $347.89 and a 200-day simple moving average of $366.17. The stock 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 1-year low of $289.77 and a 1-year high of $495.00.

Broadcom (NASDAQ:AVGO) last posted 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. Broadcom had a return on equity of 48.33% and a net margin of 42.94%. The company had revenue of $29.59 billion during the quarter, compared to analyst estimates of $29.24 billion. During the same period in the previous year, the company earned $1.69 EPS. The company’s revenue for the quarter was up 85.5% compared to the same quarter last year. On average, sell-side analysts expect that Broadcom Inc. will post 10.37 earnings per share for the current year.

Broadcom Announces Dividend

The business 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 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Monday, September 21st. Broadcom’s payout ratio is currently 33.21%.

More Broadcom News

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.