2,262 Broadcom Inc. $AVGO Shares Acquired by Leuthold Group LLC

Leuthold Group LLC raised its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 62.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,862 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,262 shares during the quarter. Leuthold Group LLC’s holdings in Broadcom were worth $2,059,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in AVGO. Palacios Wealth Management LLC boosted its holdings in Broadcom by 3.0% in the third quarter. Palacios Wealth Management LLC now owns 24,621 shares of the semiconductor manufacturer’s stock worth $8,647,000 after purchasing an additional 720 shares during the period. Private Management Group Inc. increased its stake in Broadcom by 5.5% during the third quarter. Private Management Group Inc. now owns 2,516 shares of the semiconductor manufacturer’s stock valued at $884,000 after purchasing an additional 131 shares during the last quarter. Clear Wave Wealth Management LLC raised its holdings in shares of Broadcom by 19.4% during the third quarter. Clear Wave Wealth Management LLC now owns 14,562 shares of the semiconductor manufacturer’s stock worth $5,114,000 after purchasing an additional 2,369 shares during the period. Kohmann Bosshard Financial Services LLC raised its holdings in shares of Broadcom by 42.5% during the third quarter. Kohmann Bosshard Financial Services LLC now owns 5,205 shares of the semiconductor manufacturer’s stock worth $1,828,000 after purchasing an additional 1,552 shares during the period. Finally, Joseph Group Capital Management lifted its position in shares of Broadcom by 27.6% in the 3rd quarter. Joseph Group Capital Management now owns 17,024 shares of the semiconductor manufacturer’s stock worth $5,979,000 after buying an additional 3,682 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

More Broadcom News

Here’s some of the latest news about AVGO:

• Positive Sentiment: Broadcom shares rose more than 3% in extended trading as turmoil around Nvidia’s CEO sent investors toward rival chipmakers, including Broadcom. Nvidia Stock Sinks as Jensen Huang Ouster Report Sends Investors Toward AMD, Broadcom
• Positive Sentiment: Coverage of Anthropic points to substantial cash and rising revenue as support for its large commitment involving Broadcom, bolstering confidence in the AI partnership and related chip demand. Anthropic’s S-1 Strengthens the Case for Broadcom’s AI Growth
• Neutral Sentiment: Some commentary views Broadcom as a potential beneficiary of continued AI investment, while noting that its shares have retreated from earlier highs. Am I Buying the Dip in Broadcom Stock?

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AVGO. Tigress Financial began coverage on shares of Broadcom in a research note on Thursday, October 22nd. They set a “buy” rating and a $600.00 price objective on the stock. BMO Capital Markets lifted their target price on Broadcom from $455.00 to $575.00 and gave the company an “outperform” rating in a research note on Thursday, September 3rd. Wedbush started coverage on Broadcom in a report on Tuesday, October 27th. They set an “outperform” rating for the company. Jefferies Financial Group started coverage on Broadcom in a research report on Thursday, September 3rd. They set a “buy” rating and a $550.00 price target on the stock. Finally, Evercore set a $578.00 price target on Broadcom and gave the stock an “outperform” rating in a research report on Thursday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $530.52.

Broadcom Stock Up 4.0%

Broadcom stock opened at $345.22 on Thursday. The company has a 50-day simple moving average of $345.65 and a 200-day simple moving average of $366.28. The firm has a market capitalization of $1.65 trillion, a P/E ratio of 44.09 and a beta of 1.49. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.29 and a current ratio of 2.50. Broadcom Inc. has a one year low of $289.77 and a one year high of $495.00.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share for the quarter, topping analysts’ consensus estimates of $3.22 by $0.10. The business had revenue of $29.59 billion for the quarter, compared to analysts’ expectations of $29.24 billion. Broadcom had a net margin of 42.94% and a return on equity of 48.33%. The company’s revenue for the quarter was up 85.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.69 EPS. As a group, equities analysts expect that Broadcom Inc. will post 10.37 earnings per share for the current 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. The ex-dividend date was Monday, September 21st. This represents a $2.60 annualized dividend and a yield of 0.8%. Broadcom’s dividend payout ratio is 33.21%.

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.