WPG Advisers LLC Acquires 2,497 Shares of Broadcom Inc. $AVGO

WPG Advisers LLC bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,497 shares of the semiconductor manufacturer’s stock, valued at approximately $877,000.

Other large investors have also recently bought and sold shares of the company. Core Capital Management & Research inc. acquired a new position in shares of Broadcom during the 2nd quarter worth about $31,000. Harborfront Financial Group LLC acquired a new stake in shares of Broadcom during the 2nd quarter worth about $38,000. Align Financial LLC raised its position in shares of Broadcom by 67.2% during 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 in the last quarter. Curry Webb Wealth Management LLC purchased a new stake in Broadcom during the third quarter worth approximately $41,000. Finally, Laurel Wealth Advisors LLC purchased a new stake in Broadcom during the third quarter worth approximately $52,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

AVGO stock opened at $326.08 on Monday. The company has a fifty day moving average price of $352.81 and a 200 day moving average price of $366.96. Broadcom Inc. has a 12 month low of $289.96 and a 12 month high of $495.00. The company has a market cap of $1.56 trillion, a price-to-earnings ratio of 41.65 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 data 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 for the quarter, compared to the consensus estimate of $29.24 billion. Broadcom had a net margin of 42.94% and a return on equity of 48.33%. Broadcom’s revenue for the quarter was up 85.5% on a year-over-year basis. During the same period last year, the firm posted $1.69 EPS. 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. Investors of record on Monday, September 21st were issued a dividend of $0.65 per share. The ex-dividend date of this dividend was Monday, September 21st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.8%. Broadcom’s dividend payout ratio (DPR) is currently 33.21%.

Analysts Set New Price Targets

Several brokerages have commented on AVGO. HC Wainwright started coverage on shares of Broadcom in a research note on Tuesday, October 27th. They issued a “buy” rating on the stock. Wedbush began coverage on shares of Broadcom in a research report on Tuesday, October 27th. They set an “outperform” rating for the company. President Capital upped their target price on shares of Broadcom from $520.00 to $546.00 and gave the company a “buy” rating in a report on Thursday, September 3rd. Raymond James Financial reaffirmed an “outperform” rating and issued a $475.00 target price (up from $450.00) on shares of Broadcom in a research report on Thursday, September 3rd. Finally, Cantor Fitzgerald lifted their price target on shares of Broadcom from $525.00 to $600.00 and gave the stock an “overweight” rating in a research note on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and an average target price of $530.52.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: DA Davidson upgraded Broadcom to Buy from Neutral and raised its price target to $400 from $350. The firm cited Broadcom’s exposure to major AI customers, including Anthropic and potentially OpenAI. Broadcom Falls Despite DA Davidson Upgrade
• Positive Sentiment: A $63 billion financing arrangement is expected to fund purchases of Broadcom AI hardware for Anthropic. The deal provides a potentially large, funded customer for Broadcom’s custom-chip and networking business, although the company could face substantial obligations under the agreement’s backstop. Broadcom’s $63 Billion Anthropic Deal
• Positive Sentiment: Longer-term investment theses remain favorable: Broadcom projects AI semiconductor revenue of approximately $115 billion in fiscal 2027 and $230 billion in fiscal 2028. Meta’s planned financing for its AI expansion could also support additional demand for Broadcom’s custom silicon and networking products. Meta Financing Plan and Broadcom
• Neutral Sentiment: Broadcom is trading well below its record high and below its 50-day and 200-day moving averages. Analysts see upside, but valuation remains demanding, making execution of the AI growth forecast particularly important.
• Negative Sentiment: Intel’s weaker-than-expected forecast prompted investors to reassess semiconductor demand. Concerns were reinforced by Amazon’s results and the rising cost of building AI infrastructure, pressuring AI-exposed chip stocks broadly. Why Intel, AMD and Broadcom Are Falling
• Negative Sentiment: The Anthropic transaction also carries execution and financial-risk questions. Investors are waiting to see whether Broadcom can manufacture and deliver the required hardware at scale before fully crediting the projected revenue. Broadcom’s Anthropic Deal and Execution Risk

Broadcom Profile

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.