Broadcom Inc. $AVGO Stock Holdings Lifted by Torray Investment Partners LLC

Torray Investment Partners LLC grew its position in Broadcom Inc. (NASDAQ:AVGO) by 17.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 118,929 shares of the semiconductor manufacturer’s stock after buying an additional 17,461 shares during the quarter. Broadcom accounts for approximately 5.5% of Torray Investment Partners LLC’s holdings, making the stock its biggest holding. Torray Investment Partners LLC’s holdings in Broadcom were worth $41,767,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Legacy Wealth Management LLC MS increased its position in shares of Broadcom by 0.4% in the third quarter. Legacy Wealth Management LLC MS now owns 8,766 shares of the semiconductor manufacturer’s stock worth $3,079,000 after acquiring an additional 32 shares in the last quarter. Tucker Asset Management LLC raised its stake in shares of Broadcom by 10.8% in the 3rd quarter. Tucker Asset Management LLC now owns 1,168 shares of the semiconductor manufacturer’s stock valued at $410,000 after acquiring an additional 114 shares during the period. Bauman Advisory Group LLC lifted its holdings in shares of Broadcom by 6.8% during the 3rd quarter. Bauman Advisory Group LLC now owns 1,018 shares of the semiconductor manufacturer’s stock valued at $358,000 after acquiring an additional 65 shares in the last quarter. VCI Wealth Management LLC lifted its holdings in shares of Broadcom by 8.4% during the 3rd quarter. VCI Wealth Management LLC now owns 22,919 shares of the semiconductor manufacturer’s stock valued at $8,049,000 after acquiring an additional 1,782 shares in the last quarter. Finally, Gerber Kawasaki Wealth & Investment Management boosted its position in Broadcom by 2.3% during the 3rd quarter. Gerber Kawasaki Wealth & Investment Management now owns 58,660 shares of the semiconductor manufacturer’s stock worth $20,601,000 after purchasing an additional 1,332 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on AVGO. The Goldman Sachs Group increased their price target on Broadcom from $525.00 to $540.00 and gave the company a “buy” rating in a report on Thursday, September 3rd. Fox Advisors upgraded Broadcom to an “outperform” rating in a research note on Thursday, September 3rd. Cantor Fitzgerald upped their target price on Broadcom from $525.00 to $600.00 and gave the stock an “overweight” rating in a research report on Thursday, September 3rd. President Capital increased their target price on Broadcom from $520.00 to $546.00 and gave the company a “buy” rating in a research note on Thursday, September 3rd. Finally, Wedbush assumed coverage on Broadcom in a report on Tuesday, October 27th. They set an “outperform” rating on the stock. One investment 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 MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $530.52.

Broadcom Stock Up 0.7%

Shares of AVGO stock traded up $2.16 during mid-day trading on Friday, reaching $293.69. 32,366,942 shares of the company were exchanged, compared to its average volume of 22,165,412. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.29 and a current ratio of 2.50. The business’s 50 day simple moving average is $347.89 and its 200 day simple moving average is $366.17. The company has a market capitalization of $1.40 trillion, a P/E ratio of 37.51 and a beta of 1.49. Broadcom Inc. has a fifty-two week low of $289.77 and a fifty-two week high of $495.00.

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, beating the consensus estimate of $3.22 by $0.10. Broadcom had a net margin of 42.94% and a return on equity of 48.33%. The firm had revenue of $29.59 billion for the quarter, compared to analysts’ expectations of $29.24 billion. During the same period in the prior year, the company posted $1.69 earnings per share. The firm’s quarterly revenue was up 85.5% on a year-over-year basis. Research analysts predict 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. Stockholders of record on Monday, September 21st were paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Monday, September 21st. Broadcom’s dividend payout ratio is 33.21%.

Key Stories Impacting Broadcom

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.