Oregon Public Employees Retirement Fund Buys 2,872 Shares of Broadcom Inc. $AVGO

Oregon Public Employees Retirement Fund raised its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 584,943 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,872 shares during the period. Broadcom makes up 2.2% of Oregon Public Employees Retirement Fund’s holdings, making the stock its 6th biggest holding. Oregon Public Employees Retirement Fund’s holdings in Broadcom were worth $205,426,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. State Street Corp grew its position in shares of Broadcom by 8.7% during the second quarter. State Street Corp now owns 208,031,610 shares of the semiconductor manufacturer’s stock worth $75,367,711,000 after buying an additional 16,651,378 shares in the last quarter. Bank of America Corp DE grew its position in Broadcom by 4.6% in the 2nd 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 last quarter. Wellington Management Group LLP grew its holdings in Broadcom by 3.8% in the 2nd quarter. Wellington Management Group LLP now owns 51,580,703 shares of the semiconductor manufacturer’s stock worth $19,484,611,000 after buying an additional 1,892,721 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Broadcom by 2.9% during 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 period. Finally, Legal & General Group Plc bought a new stake in shares of Broadcom during the 2nd quarter worth about $11,998,148,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom News Summary

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 Price Performance

AVGO stock traded up $2.16 during trading on Friday, hitting $293.69. 32,366,942 shares of the stock traded hands, compared to its average volume of 22,165,412. Broadcom Inc. has a one year low of $289.77 and a one year high of $495.00. The company has a 50 day simple moving average of $347.89 and a 200 day simple moving average of $366.17. 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 stock has a market cap of $1.40 trillion, a price-to-earnings ratio of 37.51 and a beta of 1.49.

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, beating the consensus estimate of $3.22 by $0.10. The firm 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 business’s revenue for the quarter was up 85.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.69 EPS. Equities analysts expect that Broadcom Inc. will post 10.37 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st were given a dividend of $0.65 per share. The ex-dividend date was Monday, September 21st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.9%. Broadcom’s payout ratio is presently 33.21%.

Analyst Ratings Changes

A number of brokerages recently weighed in on AVGO. Tigress Financial assumed coverage on shares of Broadcom in a report on Thursday, October 22nd. They set a “buy” rating and a $600.00 target price for the company. Citigroup downgraded Broadcom from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 27th. HC Wainwright initiated coverage on Broadcom in a research note on Tuesday, October 27th. They set a “buy” rating for the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $600.00 target price on shares of Broadcom in a research report on Tuesday, October 27th. Finally, Lake Street Capital raised Broadcom to a “buy” rating in a report on Thursday, September 3rd. One equities research 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 company. According to data from MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and an average price target of $530.52.

Broadcom Company 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.