Broadcom Inc. $AVGO Stock Sold by Capstone Wealth Management Group LLC

Capstone Wealth Management Group LLC reduced its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 7.9% in the third quarter, Holdings Channel reports. The firm owned 40,695 shares of the semiconductor manufacturer’s stock after selling 3,502 shares during the period. Broadcom comprises approximately 5.9% of Capstone Wealth Management Group LLC’s holdings, making the stock its 3rd biggest position. Capstone Wealth Management Group LLC’s holdings in Broadcom were worth $13,426,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Bingham Private Wealth LLC purchased a new position in shares of Broadcom during the 3rd quarter valued at about $3,742,000. Smith Partners Wealth Management LLC bought a new stake in Broadcom in the 3rd quarter worth approximately $284,000. Maryland State Retirement & Pension System boosted its stake in Broadcom by 23.1% in the third quarter. Maryland State Retirement & Pension System now owns 307,833 shares of the semiconductor manufacturer’s stock worth $108,108,000 after buying an additional 57,690 shares in the last quarter. Ritholtz Wealth Management boosted its stake in Broadcom by 1.5% in the third quarter. Ritholtz Wealth Management now owns 103,904 shares of the semiconductor manufacturer’s stock worth $36,490,000 after buying an additional 1,510 shares in the last quarter. Finally, UNIVEST FINANCIAL Corp grew its position in Broadcom by 5.5% during the third quarter. UNIVEST FINANCIAL Corp now owns 148,026 shares of the semiconductor manufacturer’s stock valued at $51,985,000 after acquiring an additional 7,752 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $347.01 on Friday. Broadcom Inc. has a twelve month low of $289.77 and a twelve month high of $495.00. The company has a 50 day moving average of $345.39 and a 200 day moving average of $366.55. The firm has a market cap of $1.66 trillion, a P/E ratio of 44.32 and a beta of 1.49. The company has a quick ratio of 2.29, a current ratio of 2.50 and a debt-to-equity ratio of 0.57.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share for the quarter, beating the consensus estimate of $3.22 by $0.10. The firm had revenue of $29.59 billion for the quarter, compared to analysts’ expectations of $29.24 billion. Broadcom had a return on equity of 48.33% and a net margin of 42.94%. The company’s revenue was up 85.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.69 EPS. As a group, research analysts expect that Broadcom Inc. will post 10.20 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st were paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, September 21st. Broadcom’s dividend payout ratio (DPR) is presently 33.21%.

Top Broadcom Stories

Investors following AVGO have been watching these stories:

• Positive Sentiment: Broadcom could benefit as cloud providers diversify beyond NVIDIA and invest in custom AI chips. The company designs custom ASICs for hyperscalers, and Anthropic’s disclosed spending commitments have been cited as support for Broadcom’s growth outlook. Anthropic’s S-1 strengthens the case for Broadcom’s AI growth
• Neutral Sentiment: Broadcom had recently rallied as investors considered whether NVIDIA’s leadership turmoil could redirect demand to rival chipmakers. NVIDIA’s rebound on Friday, however, prompted some investors to reassess that rotation. AMD, Broadcom stocks fall as Nvidia rebounds
• Negative Sentiment: Rothschild & Co Redburn cut AVGO to Neutral from Buy and lowered its price target by 33%, from $595 to $398. It flagged risk from Broadcom’s growing exposure to AI financing arrangements, including reliance on AI companies such as Anthropic and OpenAI that are not yet self-funding. Broadcom stock falls as firm flags AI financing risks

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Lake Street Capital raised shares of Broadcom to a “buy” rating in a research note on Thursday, September 3rd. Raymond James Financial restated an “outperform” rating and set a $475.00 price target (up from $450.00) on shares of Broadcom in a research report on Thursday, September 3rd. Weiss Ratings cut Broadcom from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday. Truist Financial decreased their price objective on Broadcom from $550.00 to $520.00 and set a “buy” rating on the stock in a report on Thursday, September 3rd. Finally, Morgan Stanley reissued an “overweight” rating and issued a $505.00 target price (up from $502.00) on shares of Broadcom in a research note on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and an average price target of $525.19.

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.