Leo Wealth LLC Purchases New Holdings in Broadcom Inc. $AVGO

Leo Wealth LLC purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGO) in the third quarter, HoldingsChannel.com reports. The fund purchased 9,764 shares of the semiconductor manufacturer’s stock, valued at approximately $3,429,000.

Several other large investors have also bought and sold shares of the business. State Street Corp boosted its position in shares of Broadcom by 8.7% in the 2nd 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 grew its stake in shares of Broadcom by 4.6% during the second quarter. Bank of America Corp DE now owns 61,423,013 shares of the semiconductor manufacturer’s stock worth $23,202,543,000 after purchasing an additional 2,685,916 shares during the period. Wellington Management Group LLP increased its holdings in Broadcom by 3.8% in the second 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 holdings in Broadcom by 2.9% in the second 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 bought a new stake in Broadcom in the second quarter valued at about $11,998,148,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Jefferies Financial Group started coverage on Broadcom in a report on Thursday, September 3rd. They set a “buy” rating and a $550.00 target price on the stock. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Broadcom in a research report on Thursday, September 3rd. Tigress Financial initiated coverage on shares of Broadcom in a research note on Thursday, October 22nd. They set a “buy” rating and a $600.00 price objective on the stock. Rosenblatt Securities reissued a “buy” rating and set a $600.00 price objective on shares of Broadcom in a research note on Tuesday. Finally, Royal Bank Of Canada assumed coverage on shares of Broadcom in a report on Thursday, September 3rd. They set an “outperform” rating for the company. One investment 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 stock. According to MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus target price of $530.52.

Broadcom Stock Performance

AVGO stock opened at $345.00 on Friday. Broadcom Inc. has a 1-year low of $289.96 and a 1-year high of $495.00. 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 PE ratio of 44.06 and a beta of 1.46. The business’s 50-day moving average price is $353.57 and its two-hundred day moving average price is $367.09.

Broadcom (NASDAQ:AVGO) last announced 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 company had revenue of $29.59 billion during the quarter, compared to the consensus estimate of $29.24 billion. Broadcom had a return on equity of 48.33% and a net margin of 42.94%. The company’s revenue for the quarter was up 85.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.69 earnings per share. As a group, research analysts forecast that Broadcom Inc. will post 10.37 earnings per share for the current year.

Broadcom Announces Dividend

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

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Analysts remain constructive: DA Davidson upgraded Broadcom to “Buy,” while Rosenblatt reaffirmed its Buy rating. The upgrades cite the company’s AI semiconductor momentum and long-term growth outlook. DA Davidson Upgrades Broadcom to Buy
• Positive Sentiment: Broadcom’s custom-chip opportunity continues to expand. One bullish outlook points to projected AI semiconductor revenue of approximately $115 billion in fiscal 2027 and $230 billion in fiscal 2028, supported by rising data-center and accelerator demand. The AI Boom Isn’t Over: 3 Stocks You Need to Watch
• Positive Sentiment: Meta’s planned AI financing and potential investment by major chip suppliers could support additional orders for Broadcom as Meta expands its data-center capacity. Why Meta’s $100 Billion Financing Plan Is a Boon for Broadcom
• Neutral Sentiment: The stock’s pullback from its record high has prompted some investors to view Broadcom as a more attractive entry point, although valuation remains dependent on continued exceptional AI growth. Broadcom: This Is Probably a Good Entry Point
• Negative Sentiment: The $63 billion Anthropic financing arrangement is raising concern about asset and credit risk. A special-purpose vehicle would purchase and lease Broadcom hardware, while Broadcom’s potential backstop exposure could reach roughly $43 billion if financing or asset values deteriorate. Broadcom’s Anthropic Deal and Potential Backstop
• Negative Sentiment: Broader concerns about AI spending are also weighing on sentiment. Rising interest rates, heavy borrowing for data centers and doubts about returns on massive capital expenditures could compress richly valued semiconductor stocks. Why Rising Rates Could Break the Bull Market

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.