Broadcom Inc. $AVGO Stock Bought by Boston Trust Walden Corp

Boston Trust Walden Corp boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 22.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 132,199 shares of the semiconductor manufacturer’s stock after acquiring an additional 24,251 shares during the period. Boston Trust Walden Corp’s holdings in Broadcom were worth $46,427,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. DeLarme Wealth Management Inc. grew its position in shares of Broadcom by 2.0% in the third quarter. DeLarme Wealth Management Inc. now owns 1,567 shares of the semiconductor manufacturer’s stock valued at $550,000 after purchasing an additional 31 shares in the last quarter. Clear Point Advisors Inc. lifted its position in Broadcom by 14.4% during the third quarter. Clear Point Advisors Inc. now owns 717 shares of the semiconductor manufacturer’s stock worth $252,000 after buying an additional 90 shares in the last quarter. Northeast Investment Management lifted its position in Broadcom by 0.7% during the third quarter. Northeast Investment Management now owns 6,178 shares of the semiconductor manufacturer’s stock worth $2,170,000 after buying an additional 40 shares in the last quarter. Smallwood Wealth Investment Management LLC lifted its position in Broadcom by 5.4% during the third quarter. Smallwood Wealth Investment Management LLC now owns 1,745 shares of the semiconductor manufacturer’s stock worth $613,000 after buying an additional 90 shares in the last quarter. Finally, Optimist Retirement Group LLC boosted its position in shares of Broadcom by 2.0% during the 3rd quarter. Optimist Retirement Group LLC now owns 8,454 shares of the semiconductor manufacturer’s stock valued at $2,969,000 after acquiring an additional 169 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Trading Up 0.7%

NASDAQ AVGO opened at $293.69 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.29. The stock has a market capitalization of $1.40 trillion, a P/E ratio of 37.51 and a beta of 1.49. The firm’s 50-day moving average is $347.89 and its two-hundred day moving average is $366.17. Broadcom Inc. has a 12 month low of $289.77 and a 12 month high of $495.00.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share for the quarter, beating analysts’ consensus estimates of $3.22 by $0.10. Broadcom had a net margin of 42.94% and a return on equity of 48.33%. The business had revenue of $29.59 billion during the quarter, compared to analysts’ expectations of $29.24 billion. During the same period last year, the business earned $1.69 earnings per share. The business’s revenue for the quarter was up 85.5% on a year-over-year basis. On average, sell-side analysts anticipate that Broadcom Inc. will post 10.37 earnings per share for the current year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st were issued a $0.65 dividend. 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 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

Wall Street Analyst Weigh In

AVGO has been the subject of a number of recent analyst reports. HC Wainwright began coverage on shares of Broadcom in a report on Tuesday, October 27th. They set a “buy” rating for the company. Citigroup cut Broadcom from a “buy” rating to a “neutral” rating in a report on Tuesday, October 27th. UBS Group lowered Broadcom from a “hold” rating to a “neutral” rating in a research report on Tuesday, October 27th. Piper Sandler started coverage on Broadcom in a research note on Wednesday, September 9th. They set an “overweight” rating and a $460.00 target price for the company. Finally, HSBC cut their target price on Broadcom from $600.00 to $560.00 and set a “buy” rating for the company in a research note on Thursday, September 3rd. One equities 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 company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $530.52.

About Broadcom

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.