Pacific Heights Asset Management LLC Has $60.64 Million Position in Broadcom Inc. $AVGO

Pacific Heights Asset Management LLC raised its stake in Broadcom Inc. (NASDAQ:AVGO) by 12.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 220,000 shares of the semiconductor manufacturer’s stock after purchasing an additional 25,000 shares during the quarter. Broadcom accounts for 3.2% of Pacific Heights Asset Management LLC’s portfolio, making the stock its 6th biggest position. Pacific Heights Asset Management LLC’s holdings in Broadcom were worth $60,643,000 as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Broadcom by 0.4% in the first quarter. Vanguard Group Inc. now owns 477,220,137 shares of the semiconductor manufacturer’s stock worth $79,900,968,000 after acquiring an additional 2,085,534 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Broadcom by 37.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer’s stock valued at $10,968,270,000 after acquiring an additional 17,985,046 shares during the period. Nuveen LLC bought a new position in Broadcom in the first quarter valued at about $6,649,117,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Broadcom by 2.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 35,243,467 shares of the semiconductor manufacturer’s stock worth $5,900,814,000 after buying an additional 842,088 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Broadcom by 3.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 33,852,310 shares of the semiconductor manufacturer’s stock worth $5,668,134,000 after buying an additional 1,043,948 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Broadcom

In related news, CEO Hock E. Tan sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $339.58, for a total transaction of $33,958,000.00. Following the transaction, the chief executive officer owned 725,638 shares in the company, valued at $246,412,152.04. This trade represents a 12.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark David Brazeal sold 16,558 shares of the business’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $347.61, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 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 currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on AVGO. Citigroup reissued a “buy” rating and set a $415.00 target price (up previously from $350.00) on shares of Broadcom in a research note on Tuesday, October 14th. Piper Sandler raised their price target on Broadcom from $315.00 to $375.00 and gave the stock an “overweight” rating in a research note on Friday, September 5th. UBS Group set a $415.00 price target on Broadcom and gave the stock a “buy” rating in a research note on Tuesday, October 14th. Oppenheimer reaffirmed an “outperform” rating and set a $360.00 target price (up from $325.00) on shares of Broadcom in a research report on Friday, September 5th. Finally, Bank of America boosted their price target on Broadcom from $300.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, September 5th. Three research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $372.52.

Broadcom Stock Performance

Shares of AVGO stock opened at $362.05 on Tuesday. The stock’s 50-day moving average is $332.60 and its two-hundred day moving average is $277.81. The firm has a market cap of $1.71 trillion, a price-to-earnings ratio of 92.36, a PEG ratio of 1.99 and a beta of 1.20. Broadcom Inc. has a 1 year low of $138.10 and a 1 year 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.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (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 the consensus estimate of $15.82 billion. During the same period in the previous year, the firm posted $1.24 EPS. The company’s quarterly revenue was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. Analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were issued 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 of this dividend was Monday, September 22nd. Broadcom’s payout ratio is 60.20%.

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.