Broadcom Inc. $AVGO Shares Acquired by Sunburst Financial Group LLC

Sunburst Financial Group LLC grew its stake in Broadcom Inc. (NASDAQ:AVGO) by 11.8% in the second quarter, Holdings Channel.com reports. The firm owned 1,901 shares of the semiconductor manufacturer’s stock after acquiring an additional 201 shares during the quarter. Sunburst Financial Group LLC’s holdings in Broadcom were worth $524,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Assetmark Inc. raised its stake in Broadcom by 2.4% during the second quarter. Assetmark Inc. now owns 1,703,487 shares of the semiconductor manufacturer’s stock worth $469,566,000 after purchasing an additional 39,466 shares during the period. PARUS FINANCE UK Ltd raised its position in shares of Broadcom by 175.3% during the 1st quarter. PARUS FINANCE UK Ltd now owns 100,578 shares of the semiconductor manufacturer’s stock valued at $16,840,000 after buying an additional 64,038 shares during the period. Geneos Wealth Management Inc. raised its position in shares of Broadcom by 27.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 64,130 shares of the semiconductor manufacturer’s stock valued at $10,737,000 after buying an additional 13,978 shares during the period. Ethic Inc. lifted its holdings in Broadcom by 1.6% in the second quarter. Ethic Inc. now owns 329,339 shares of the semiconductor manufacturer’s stock valued at $88,708,000 after acquiring an additional 5,249 shares during the last quarter. Finally, Asio Capital LLC grew its position in Broadcom by 2.0% in the second quarter. Asio Capital LLC now owns 54,459 shares of the semiconductor manufacturer’s stock worth $15,012,000 after acquiring an additional 1,089 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on AVGO. Citigroup restated a “buy” rating and issued a $415.00 target price (up previously from $350.00) on shares of Broadcom in a research report on Tuesday, October 14th. Mizuho set a $435.00 price objective on shares of Broadcom and gave the company an “outperform” rating in a report on Tuesday, October 21st. JPMorgan Chase & Co. upped their target price on shares of Broadcom from $325.00 to $400.00 and gave the company an “overweight” rating in a research report on Friday, September 5th. Argus lifted their price target on shares of Broadcom from $285.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, September 8th. Finally, Macquarie started coverage on shares of Broadcom in a research note on Monday, September 15th. They issued an “outperform” rating and a $420.00 price target on the stock. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Broadcom has a consensus rating of “Buy” and an average price target of $372.52.

Broadcom Stock Down 1.7%

Shares of NASDAQ AVGO opened at $349.43 on Friday. The stock has a market cap of $1.65 trillion, a P/E ratio of 89.14, a PEG ratio of 1.41 and a beta of 1.19. The business’s fifty day simple moving average is $344.91 and its 200-day simple moving average is $289.83. Broadcom Inc. has a 12-month low of $138.10 and a 12-month high of $386.48. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, topping the consensus estimate of $1.66 by $0.03. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The firm had revenue of $15.95 billion during the quarter, compared to analysts’ expectations of $15.82 billion. During the same period in the previous year, the firm posted $1.24 EPS. Broadcom’s revenue for the quarter was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. As a group, equities analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Monday, September 22nd. Broadcom’s dividend payout ratio is presently 60.20%.

Insider Transactions at Broadcom

In other news, insider Mark David Brazeal sold 16,558 shares of the firm’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $347.61, for a total value of $5,755,726.38. Following the sale, the insider directly owned 329,302 shares in the company, valued at approximately $114,468,668.22. This trade represents a 4.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Hock E. Tan sold 100,000 shares of Broadcom stock in a transaction 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 sale, the chief executive officer directly owned 725,638 shares of the company’s stock, valued at approximately $246,412,152.04. This trade represents a 12.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have acquired 3,550 shares of company stock valued at $1,227,869 and have sold 665,271 shares valued at $225,464,248. 2.00% of the stock is owned by 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.