Sheets Smith Wealth Management Buys 137 Shares of Broadcom Inc. $AVGO

Sheets Smith Wealth Management grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 4.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,511 shares of the semiconductor manufacturer’s stock after purchasing an additional 137 shares during the quarter. Sheets Smith Wealth Management’s holdings in Broadcom were worth $968,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC increased its position in Broadcom by 21.8% during the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock worth $6,882,000 after buying an additional 5,322 shares during the period. Revolve Wealth Partners LLC lifted its stake in Broadcom by 10.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock valued at $1,854,000 after purchasing an additional 756 shares during the last quarter. Fire Capital Management LLC acquired a new stake in Broadcom in the fourth quarter valued at approximately $1,490,000. Milestone Asset Management Group LLC bought a new stake in shares of Broadcom during the fourth quarter worth $581,000. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in shares of Broadcom by 9.5% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 206,671 shares of the semiconductor manufacturer’s stock worth $34,603,000 after buying an additional 17,973 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Price Performance

Shares of AVGO opened at $336.10 on Friday. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $374.23. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50. The business’s 50 day moving average price is $312.64 and its two-hundred day moving average price is $251.49. The firm has a market cap of $1.59 trillion, a PE ratio of 85.74, a price-to-earnings-growth ratio of 1.88 and a beta of 1.16.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.03. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The company had revenue of $15.95 billion during the quarter, compared to analyst estimates of $15.82 billion. During the same quarter in the previous year, the business posted $1.24 EPS. Broadcom’s revenue for the quarter was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. On average, equities analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd will be paid a $0.59 dividend. The ex-dividend date is Monday, September 22nd. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Broadcom’s dividend payout ratio (DPR) is currently 60.20%.

Wall Street Analysts Forecast Growth

AVGO has been the topic of a number of research reports. KeyCorp boosted their price objective on Broadcom from $330.00 to $400.00 and gave the stock an “overweight” rating in a research report on Friday, September 5th. Oppenheimer reiterated an “outperform” rating and set a $360.00 price target (up previously from $325.00) on shares of Broadcom in a report on Friday, September 5th. Macquarie initiated coverage on Broadcom in a report on Monday, September 15th. They issued an “outperform” rating and a $420.00 price objective for the company. Arete Research raised Broadcom to a “strong-buy” rating in a report on Monday, July 28th. Finally, HSBC upgraded Broadcom from a “hold” rating to a “buy” rating and set a $400.00 price target on the stock in a research report on Tuesday, June 24th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Broadcom presently has a consensus rating of “Buy” and a consensus target price of $356.48.

Insiders Place Their Bets

In related news, CEO Hock E. Tan sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $339.58, for a total transaction of $33,958,000.00. Following the transaction, the chief executive officer directly owned 725,638 shares of the company’s stock, valued at approximately $246,412,152.04. This represents a 12.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kirsten M. Spears sold 7,498 shares of Broadcom stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $347.66, for a total transaction of $2,606,754.68. Following the completion of the sale, the chief financial officer directly owned 313,330 shares of the company’s stock, valued at approximately $108,932,307.80. The trade was a 2.34% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders purchased 3,550 shares of company stock worth $1,227,869 and sold 297,274 shares worth $101,002,814. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Company Profile

Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.