Quadrant Capital Group LLC Sells 8,033 Shares of Broadcom Inc. $AVGO

Quadrant Capital Group LLC trimmed its holdings in Broadcom Inc. (NASDAQ:AVGO) by 5.8% in the third quarter, Holdings Channel reports. The fund owned 129,758 shares of the semiconductor manufacturer’s stock after selling 8,033 shares during the period. Broadcom accounts for about 1.2% of Quadrant Capital Group LLC’s portfolio, making the stock its 11th biggest position. Quadrant Capital Group LLC’s holdings in Broadcom were worth $46,364,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Bell Bank increased its holdings in Broadcom by 2.4% during the 3rd quarter. Bell Bank now owns 22,457 shares of the semiconductor manufacturer’s stock worth $7,887,000 after purchasing an additional 518 shares in the last quarter. Eagle Harbor Asset Management Inc. ADV boosted its position in shares of Broadcom by 1.2% during the third quarter. Eagle Harbor Asset Management Inc. ADV now owns 15,296 shares of the semiconductor manufacturer’s stock worth $5,372,000 after buying an additional 180 shares during the period. Benchmark Financial Wealth Advisors LLC grew its holdings in shares of Broadcom by 2.3% during the third quarter. Benchmark Financial Wealth Advisors LLC now owns 6,393 shares of the semiconductor manufacturer’s stock worth $2,245,000 after buying an additional 141 shares in the last quarter. Cushing Capital Partners LLC grew its holdings in shares of Broadcom by 8.9% during the third quarter. Cushing Capital Partners LLC now owns 1,904 shares of the semiconductor manufacturer’s stock worth $669,000 after buying an additional 155 shares in the last quarter. Finally, Physician Wealth Advisors Inc. raised its position in Broadcom by 11.5% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 3,749 shares of the semiconductor manufacturer’s stock valued at $1,317,000 after buying an additional 386 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AVGO has been the topic of several research reports. HSBC cut their target price on Broadcom from $600.00 to $560.00 and set a “buy” rating on the stock in a research note on Thursday, September 3rd. Arete Research raised their price target on shares of Broadcom from $488.00 to $530.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Morgan Stanley reiterated an “overweight” rating and issued a $505.00 price objective (up from $502.00) on shares of Broadcom in a report on Thursday, September 3rd. Erste Group Bank reissued a “hold” rating on shares of Broadcom in a research report on Tuesday, July 7th. Finally, Sanford C. Bernstein restated a “buy” rating on shares of Broadcom in a report on Monday, September 21st. One research analyst has rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and an average price target of $529.17.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: ETF investors bought approximately $89.8 million of Broadcom shares on October 21, signaling continued institutional demand. Broadcom Sees $89.8 Million in Net ETF Buying
• Positive Sentiment: Analysts continue to highlight Broadcom’s leadership in custom AI accelerators. Demand from major AI labs and hyperscalers, including Anthropic, OpenAI and Meta, supports management’s ambitious long-term AI semiconductor growth outlook. 3 Magnificent AI Chip Stocks
• Positive Sentiment: Tigress Financial initiated coverage with a Buy rating and a $600 price target, implying substantial upside from recent trading levels. Tigress Financial Broadcom Coverage
• Positive Sentiment: Broadcom launched Arcot Scam Defense, a real-time fraud-detection feature for digital payments. Strong initial pilot results could create incremental growth for its software and security businesses. Broadcom Debuts Arcot Scam Defense
• Neutral Sentiment: Broadcom remains the leading custom-chip design partner, but Alphabet is diversifying its TPU suppliers. Although Broadcom may lose market share, the overall AI accelerator market is expected to expand rapidly, potentially offsetting that loss. Broadcom AI Chip Business Risks
• Negative Sentiment: Investors are worried that customer-owned chip design and increased competition from MediaTek could reduce Broadcom’s role and margins in future AI programs. Alphabet’s supplier diversification is the clearest near-term risk. Broadcom AI Chip Business Risks
• Negative Sentiment: The broader market sell-off is weighing on AI stocks amid higher oil prices, inflation concerns and questions about whether massive data-center investments will generate sufficient returns. Technical commentary identifies the $320 area as an important support test. Broadcom Faces Critical $320 Test

Broadcom Stock Performance

AVGO opened at $321.68 on Friday. Broadcom Inc. has a 52-week low of $289.96 and a 52-week high of $495.00. The firm has a market capitalization of $1.54 trillion, a PE ratio of 41.08 and a beta of 1.46. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.29 and a current ratio of 2.50. The business’s 50-day simple moving average is $356.05 and its 200 day simple moving average is $384.25.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results 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 analysts’ expectations of $29.24 billion. Broadcom had a return on equity of 48.33% and a net margin of 42.94%. The business’s quarterly revenue was up 85.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.69 earnings per share. As a group, sell-side analysts expect that Broadcom Inc. will post 10.37 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, September 21st. Broadcom’s dividend payout ratio is presently 33.21%.

About Broadcom

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

The company’s semiconductor portfolio includes networking and switching components, custom accelerators, connectivity and wireless devices, broadband equipment, optical products, storage controllers and related infrastructure technologies.