Broadcom Inc. $AVGO Holdings Cut by Cabot Wealth Management Inc.

Cabot Wealth Management Inc. trimmed its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 8.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 21,375 shares of the semiconductor manufacturer’s stock after selling 1,869 shares during the period. Cabot Wealth Management Inc.’s holdings in Broadcom were worth $7,507,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Ritholtz Wealth Management lifted its position in Broadcom by 1.5% in the third quarter. Ritholtz Wealth Management now owns 103,904 shares of the semiconductor manufacturer’s stock valued at $36,490,000 after purchasing an additional 1,510 shares during the last quarter. UNIVEST FINANCIAL Corp grew its holdings in shares of Broadcom by 5.5% during the 3rd quarter. UNIVEST FINANCIAL Corp now owns 148,026 shares of the semiconductor manufacturer’s stock worth $51,985,000 after acquiring an additional 7,752 shares during the period. NBH Bank grew its position in shares of Broadcom by 3.8% in the 3rd quarter. NBH Bank now owns 6,223 shares of the semiconductor manufacturer’s stock worth $2,185,000 after buying an additional 229 shares during the period. Granville Capital Inc. lifted its holdings in shares of Broadcom by 10.9% during the third quarter. Granville Capital Inc. now owns 3,878 shares of the semiconductor manufacturer’s stock valued at $1,362,000 after purchasing an additional 380 shares during the last quarter. Finally, Joel Isaacson & Co. LLC increased its holdings in shares of Broadcom by 7.6% during the third quarter. Joel Isaacson & Co. LLC now owns 16,362 shares of the semiconductor manufacturer’s stock valued at $5,746,000 after acquiring an additional 1,160 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Stock Down 4.8%

Shares of Broadcom stock opened at $347.01 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 company has a market cap of $1.66 trillion, a P/E ratio of 44.32 and a beta of 1.49. The firm’s 50 day moving average price is $345.39 and its 200-day moving average price is $366.55. Broadcom Inc. has a 52-week low of $289.77 and a 52-week high of $495.00.

Broadcom (NASDAQ:AVGO) last announced 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. 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%. Broadcom’s revenue was up 85.5% on a year-over-year basis. During the same period last year, the firm posted $1.69 EPS. On average, sell-side analysts predict that Broadcom Inc. will post 10.20 EPS for the current fiscal year.

Broadcom Announces Dividend

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

Analysts Set New Price Targets

AVGO has been the topic of a number of research analyst reports. William Blair downgraded Broadcom from an “outperform” rating to a “market perform” rating in a report on Tuesday, October 27th. Fox Advisors upgraded shares of Broadcom to an “outperform” rating in a research note on Thursday, September 3rd. Piper Sandler started coverage on Broadcom in a research note on Wednesday, September 9th. They set an “overweight” rating and a $460.00 target price on the stock. Morgan Stanley reissued an “overweight” rating and set a $505.00 price target (up from $502.00) on shares of Broadcom in a research note on Thursday, September 3rd. Finally, Sanford C. Bernstein reaffirmed a “buy” rating on shares of Broadcom in a report on Monday, September 21st. One investment analyst has rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and a consensus price target of $525.19.

Top Broadcom Stories

Investors following AVGO have been watching these stories:

• 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
• 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
• Negative Sentiment: Rothschild & Co Redburn cut AVGO to Neutral from Buy and lowered its price target by 33%, from $595 to $398. It flagged risk from Broadcom’s growing exposure to AI financing arrangements, including reliance on AI companies such as Anthropic and OpenAI that are not yet self-funding. Broadcom stock falls as firm flags AI financing risks

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.