5,689 Broadcom Inc. $AVGO Shares Purchased by Louisbourg Investments Inc.

by · The Markets Daily

Louisbourg Investments Inc. increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO – Free Report) by 19.9% in the third quarter, Holdings Channel.com reports. The fund owned 34,311 shares of the semiconductor manufacturer’s stock after purchasing an additional 5,689 shares during the period. Broadcom comprises about 2.1% of Louisbourg Investments Inc.’s holdings, making the stock its 10th biggest position. Louisbourg Investments Inc.’s holdings in Broadcom were worth $12,050,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Networth Advisors LLC lifted its stake in Broadcom by 546.2% in the 1st quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 71 shares in the last quarter. Core Capital Management & Research inc. bought a new position in shares of Broadcom during the 2nd quarter valued at about $31,000. Harborfront Financial Group LLC bought a new position in shares of Broadcom during the 2nd quarter valued at about $38,000. Align Financial LLC boosted its holdings in shares of Broadcom by 67.2% during the 3rd quarter. Align Financial LLC now owns 112 shares of the semiconductor manufacturer’s stock valued at $38,000 after purchasing an additional 45 shares during the last quarter. Finally, IMG Wealth Management Inc. purchased a new position in shares of Broadcom during the second quarter valued at about $64,000. Institutional investors own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on AVGO shares. HSBC reduced their target price on Broadcom from $600.00 to $560.00 and set a “buy” rating on the stock in a report on Thursday, September 3rd. Jefferies Financial Group began coverage on Broadcom in a research report on Thursday, September 3rd. They issued a “buy” rating and a $550.00 target price on the stock. Piper Sandler initiated coverage on Broadcom in a research note on Wednesday, September 9th. They set an “overweight” rating and a $460.00 price target for the company. Sanford C. Bernstein restated a “buy” rating on shares of Broadcom in a report on Monday, September 21st. Finally, BNP Paribas Exane raised their price target on Broadcom from $675.00 to $715.00 and gave the company an “outperform” rating in a report on Friday, September 4th. One analyst has rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $529.17.

Check Out Our Latest Stock Report on Broadcom

Broadcom Price Performance

AVGO stock opened at $323.24 on Friday. Broadcom Inc. has a 52 week low of $289.96 and a 52 week high of $495.00. 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 fifty day simple moving average of $357.48 and a two-hundred day simple moving average of $384.69. The firm has a market capitalization of $1.54 trillion, a P/E ratio of 41.28 and a beta of 1.46.

Broadcom (NASDAQ:AVGO – Get Free Report) last issued its quarterly earnings data on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 EPS for the quarter, topping analysts’ consensus estimates of $3.22 by $0.10. Broadcom had a net margin of 42.94% and a return on equity of 48.33%. The business had revenue of $29.59 billion during the quarter, compared to analysts’ expectations of $29.24 billion. During the same period last year, the company posted $1.69 EPS. The business’s revenue was up 85.5% on a year-over-year basis. Analysts anticipate that Broadcom Inc. will post 10.37 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently announced 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. This represents a $2.60 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Monday, September 21st. Broadcom’s dividend payout ratio is currently 33.21%.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

  • Positive Sentiment: Tigress Financial initiated coverage with a Buy rating and a $600 price target, implying substantial upside and signaling confidence in Broadcom’s AI semiconductor and infrastructure-software opportunities. Tigress Financial Broadcom coverage
  • Positive Sentiment: Broadcom launched Arcot Scam Defense, a real-time fraud-detection feature for card-not-present transactions. Initial financial-institution pilots reportedly produced strong results, offering a potential new growth opportunity for its infrastructure-software business. Broadcom launches Arcot Scam Defense
  • Positive Sentiment: Several analyses remain bullish on Broadcom’s custom AI-chip and networking exposure, describing the company as a potential long-term beneficiary of rising AI revenue and as a relatively resilient play if AI customers face cash-flow pressures. Broadcom long-term stock prediction
  • Neutral Sentiment: Broadcom’s recent earnings exceeded consensus estimates, with revenue growth accelerating sharply year over year. However, the strong results are already being weighed against elevated valuation expectations and broader market conditions.
  • Negative Sentiment: Chip stocks have broadly pulled back amid higher-rate concerns and worries that the massive AI data-center buildout may take longer to generate adequate returns. This sector-wide risk is weighing on AVGO alongside company-specific developments. Chip stocks pullback
  • Negative Sentiment: Technical-focused coverage identifies the $320 area as a critical test. A sustained break below that level could encourage additional selling, while the stock’s position below its moving averages reflects weakened near-term momentum. Broadcom $320 support analysis

Broadcom Profile

(Free Report)

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.

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