Broadcom Inc. $AVGO Position Decreased by CogentBlue Wealth Advisors LLC

CogentBlue Wealth Advisors LLC reduced its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 75.3% in the third quarter, HoldingsChannel.com reports. The fund owned 591 shares of the semiconductor manufacturer’s stock after selling 1,804 shares during the quarter. CogentBlue Wealth Advisors LLC’s holdings in Broadcom were worth $207,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in AVGO. Fullerton Advisors LLC grew its position in Broadcom by 1.3% during the first quarter. Fullerton Advisors LLC now owns 1,989 shares of the semiconductor manufacturer’s stock valued at $616,000 after acquiring an additional 25 shares during the last quarter. NORTHSTAR ASSET MANAGEMENT Co lifted its holdings in shares of Broadcom by 0.5% in the 1st quarter. NORTHSTAR ASSET MANAGEMENT Co now owns 5,350 shares of the semiconductor manufacturer’s stock worth $1,656,000 after acquiring an additional 25 shares during the last quarter. RFG Holdings Inc. boosted its stake in shares of Broadcom by 0.3% in the 1st quarter. RFG Holdings Inc. now owns 8,499 shares of the semiconductor manufacturer’s stock valued at $2,631,000 after purchasing an additional 26 shares in the last quarter. Yukon Wealth Management Inc. boosted its stake in shares of Broadcom by 1.1% in the 1st quarter. Yukon Wealth Management Inc. now owns 2,501 shares of the semiconductor manufacturer’s stock valued at $774,000 after purchasing an additional 26 shares in the last quarter. Finally, NerdWallet Wealth Partners LLC grew its holdings in shares of Broadcom by 2.6% during the 2nd quarter. NerdWallet Wealth Partners LLC now owns 1,057 shares of the semiconductor manufacturer’s stock valued at $399,000 after purchasing an additional 27 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AVGO. Jefferies Financial Group assumed coverage on shares of Broadcom in a report on Thursday, September 3rd. They set a “buy” rating and a $550.00 target price for the company. Morgan Stanley reaffirmed an “overweight” rating and issued a $505.00 target price (up from $502.00) on shares of Broadcom in a report on Thursday, September 3rd. TD Cowen reiterated a “buy” rating and set a $475.00 target price (down from $500.00) on shares of Broadcom in a research report on Thursday, September 3rd. Cantor Fitzgerald upped their price target on Broadcom from $525.00 to $600.00 and gave the stock an “overweight” rating in a research report on Thursday, September 3rd. Finally, Wall Street Zen cut Broadcom from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 18th. One research analyst has rated the stock with a Strong Buy rating, thirty-seven have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $527.20.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom is reportedly arranging more than $50 billion in financing for custom AI chips being developed with OpenAI. Although discussions are preliminary, the potential project underscores the scale of expected demand for Broadcom’s custom silicon and could support substantial future revenue. Broadcom seeks more than $50 billion to finance OpenAI AI chips
• Positive Sentiment: At the OCP Global Summit, Broadcom highlighted new networking technologies designed to help hyperscalers scale AI clusters. The announcements reinforce its positioning in high-speed networking and custom AI infrastructure. Broadcom AI networking innovations
• Positive Sentiment: Record profits at Samsung and TSMC are being viewed as evidence that semiconductor demand and AI-related capital spending remain strong, a favorable backdrop for Broadcom’s chip and networking businesses. Record profits at Samsung and TSMC
• Positive Sentiment: Analysts and commentators continue to point to Broadcom’s rapid AI revenue growth and its roughly 24% decline from its 52-week high as a potential entry point, despite expectations for strong earnings growth. Broadcom is lagging the market

Broadcom Price Performance

NASDAQ:AVGO opened at $361.54 on Friday. The company has a quick ratio of 2.29, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. The business’s 50-day simple moving average is $371.24 and its two-hundred day simple moving average is $382.38. The stock has a market cap of $1.73 trillion, a PE ratio of 46.17 and a beta of 1.46. Broadcom Inc. has a 52 week low of $289.96 and a 52 week high of $495.00.

Broadcom (NASDAQ:AVGO) last released its earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $0.10. The firm had revenue of $29.59 billion during 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 firm’s revenue was up 85.5% on a year-over-year basis. During the same quarter last year, the business posted $1.69 earnings per share. As a group, analysts forecast that Broadcom Inc. will post 10.37 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 given a dividend of $0.65 per share. The ex-dividend date was Monday, September 21st. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. Broadcom’s dividend payout ratio (DPR) is presently 33.21%.

Broadcom Company Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops, and supplies semiconductor and infrastructure software products. Its semiconductor solutions support wired and wireless communications, data center networking, broadband access, storage, industrial applications, and other markets.

The company’s semiconductor portfolio includes networking and switching products, custom application-specific integrated circuits, wireless connectivity components, radio-frequency devices, optical components, and storage-related solutions.