Broadcom Inc. $AVGO Shares Sold by Inscription Capital LLC

Inscription Capital LLC cut its stake in Broadcom Inc. (NASDAQ:AVGO) by 42.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,241 shares of the semiconductor manufacturer’s stock after selling 6,099 shares during the quarter. Inscription Capital LLC’s holdings in Broadcom were worth $2,894,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of AVGO. Cornerstone Advisors LLC purchased a new position in shares of Broadcom in the 2nd quarter worth about $92,522,000. GAMMA Investing LLC increased its holdings in Broadcom by 8.8% during the third quarter. GAMMA Investing LLC now owns 164,015 shares of the semiconductor manufacturer’s stock worth $55,889,000 after buying an additional 13,317 shares during the last quarter. ANB Bank purchased a new stake in Broadcom during the third quarter worth about $1,181,000. Bank of America Corp DE raised its position in Broadcom by 1.5% in the first quarter. Bank of America Corp DE now owns 58,737,097 shares of the semiconductor manufacturer’s stock worth $18,179,719,000 after acquiring an additional 894,564 shares during the period. Finally, Clear Harbor Asset Management LLC bought a new stake in Broadcom in the second quarter worth about $3,302,000. Institutional investors own 76.43% of the company’s stock.

Key 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

Analysts Set New Price Targets

AVGO has been the subject of a number of research reports. Fox Advisors raised shares of Broadcom to an “outperform” rating in a research report on Thursday, September 3rd. Royal Bank Of Canada initiated coverage on shares of Broadcom in a report on Thursday, September 3rd. They issued an “outperform” rating on the stock. Jefferies Financial Group assumed coverage on shares of Broadcom in a report on Thursday, September 3rd. They issued a “buy” rating and a $550.00 price target on the stock. Evercore set a $578.00 price objective on Broadcom and gave the company an “outperform” rating in a research note on Thursday, September 3rd. Finally, Arete Research increased their price objective on Broadcom from $488.00 to $530.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $530.52.

Broadcom Price Performance

AVGO opened at $293.69 on Monday. The company has a 50 day moving average of $347.89 and a 200 day moving average of $366.17. The company has a market cap of $1.40 trillion, a PE ratio of 37.51 and a beta of 1.49. Broadcom Inc. has a 12 month low of $289.77 and a 12 month high of $495.00. The company has a current ratio of 2.50, a quick ratio of 2.29 and a debt-to-equity ratio of 0.57.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.22 by $0.10. Broadcom had a return on equity of 48.33% and a net margin of 42.94%. The company had revenue of $29.59 billion for the quarter, compared to analyst estimates of $29.24 billion. During the same period in the previous year, the company posted $1.69 EPS. The firm’s revenue for the quarter was up 85.5% compared to the same quarter last year. On average, sell-side analysts expect that Broadcom Inc. will post 10.37 EPS for the current year.

Broadcom Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Monday, September 21st. Broadcom’s dividend payout ratio is presently 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.