Broadcom Inc. $AVGO Stock: Clear Wave Wealth Management LLC Raises Holdings

Clear Wave Wealth Management LLC boosted its position in Broadcom Inc. (NASDAQ:AVGO) by 19.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 14,562 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,369 shares during the period. Broadcom makes up approximately 0.9% of Clear Wave Wealth Management LLC’s holdings, making the stock its 22nd biggest position. Clear Wave Wealth Management LLC’s holdings in Broadcom were worth $5,114,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of AVGO. Legal & General Group Plc acquired a new stake in Broadcom during the second quarter worth approximately $11,998,148,000. Bank of New York Mellon Corp bought a new stake in Broadcom in the second quarter worth approximately $10,528,191,000. Jupiter Topco LLC bought a new stake in Broadcom in the second quarter worth approximately $7,396,271,000. State Street Corp lifted its stake in Broadcom by 8.7% in the second quarter. State Street Corp now owns 208,031,610 shares of the semiconductor manufacturer’s stock valued at $75,367,711,000 after buying an additional 16,651,378 shares during the period. Finally, Deutsche Bank AG acquired a new position in Broadcom in the second quarter valued at approximately $5,661,216,000. Institutional investors own 76.43% of the company’s stock.

Broadcom News Summary

Here’s some of the latest news about AVGO:

• Positive Sentiment: Analysts say Google’s latest TPU developments reinforce Broadcom’s central role in custom AI chips, supporting expectations for ongoing demand from major technology customers. Google’s latest TPUs show Broadcom remains central: JPM
• 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?
• Negative Sentiment: Risks include Broadcom’s valuation and the possibility that debt-financed AI infrastructure spending could expose the company to credit risk if demand or customer finances weaken. Broadcom: A Great TPU Business With a New Kind of Credit Risk Attached

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Citigroup downgraded shares of Broadcom from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 27th. BNP Paribas Exane increased their target price on shares of Broadcom from $675.00 to $715.00 and gave the stock an “outperform” rating in a research note on Friday, September 4th. Cantor Fitzgerald increased their target price on shares of Broadcom from $525.00 to $600.00 and gave the stock an “overweight” rating in a research note on Thursday, September 3rd. HSBC reduced their price target on shares of Broadcom from $600.00 to $560.00 and set a “buy” rating for the company in a report on Thursday, September 3rd. Finally, Tigress Financial initiated coverage on shares of Broadcom in a research note on Thursday, October 22nd. They issued a “buy” rating and a $600.00 price target for the company. One 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. Based on data from MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and a consensus price target of $530.52.

Broadcom Trading Up 4.0%

NASDAQ AVGO opened at $345.22 on Thursday. 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 business has a fifty day simple moving average of $345.65 and a 200 day simple moving average of $366.28. Broadcom Inc. has a 12 month low of $289.77 and a 12 month high of $495.00. The firm has a market capitalization of $1.65 trillion, a P/E ratio of 44.09 and a beta of 1.49.

Broadcom (NASDAQ:AVGO) last posted 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 analyst estimates of $29.24 billion. Broadcom had a net margin of 42.94% and a return on equity of 48.33%. The business’s revenue was up 85.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.69 EPS. On average, analysts predict that Broadcom Inc. will post 10.37 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors 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 0.8%. The ex-dividend date of this dividend was Monday, September 21st. Broadcom’s 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.