SVB Wealth LLC Sells 14,307 Shares of Broadcom Inc. $AVGO

SVB Wealth LLC lowered its position in Broadcom Inc. (NASDAQ:AVGO) by 13.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 95,514 shares of the semiconductor manufacturer’s stock after selling 14,307 shares during the period. Broadcom comprises about 2.3% of SVB Wealth LLC’s portfolio, making the stock its 9th largest holding. SVB Wealth LLC’s holdings in Broadcom were worth $33,543,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently made changes to their positions in the company. Core Capital Management & Research inc. bought a new stake in Broadcom in the 2nd quarter worth about $31,000. DecisionPoint Financial LLC increased its stake in Broadcom by 101.9% in the 3rd quarter. DecisionPoint Financial LLC now owns 105 shares of the semiconductor manufacturer’s stock valued at $36,000 after buying an additional 53 shares during the last quarter. Harborfront Financial Group LLC bought a new position in shares of Broadcom during the 2nd quarter worth approximately $38,000. Align Financial LLC lifted 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 buying an additional 45 shares in the last quarter. Finally, Curry Webb Wealth Management LLC bought a new position in shares of Broadcom during the 3rd quarter worth approximately $41,000. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Performance

Shares of AVGO stock traded down $17.35 during trading hours on Friday, hitting $347.01. 31,579,948 shares of the company were exchanged, compared to its average volume of 26,761,208. 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 capitalization of $1.66 trillion, a price-to-earnings ratio of 44.32 and a beta of 1.49. The firm has a fifty day simple moving average of $345.39 and a 200 day simple moving average of $366.55. Broadcom Inc. has a 52-week low of $289.77 and a 52-week high of $495.00.

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

Broadcom Dividend Announcement

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

Broadcom News Roundup

These are some of the AVGO news items that stood out recently:

• 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
• Positive Sentiment: Despite Rothschild & Co Redburn’s downgrade, the articles note that Wall Street’s average price target remains around $533, above the firm’s new $398 target. This suggests some analysts still see substantial upside. Is Rothschild & Co Redburn Wrong to Give Up on Broadcom?
• 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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on AVGO shares. Oppenheimer started coverage on Broadcom in a research note on Tuesday, October 27th. They issued a “buy” rating on the stock. The Goldman Sachs Group lifted their price target on Broadcom from $525.00 to $540.00 and gave the stock a “buy” rating in a report on Thursday, September 3rd. Rothschild & Co Redburn lowered Broadcom from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $595.00 to $398.00 in a report on Friday. DA Davidson raised Broadcom from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $350.00 to $400.00 in a research report on Tuesday, October 27th. Finally, HSBC reduced their price objective 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 investment analyst has rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and an average price target of $525.19.

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.