Sunburst Financial Group LLC Increases Holdings in Broadcom Inc. $AVGO

Sunburst Financial Group LLC increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 11.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,901 shares of the semiconductor manufacturer’s stock after purchasing an additional 201 shares during the quarter. Sunburst Financial Group LLC’s holdings in Broadcom were worth $524,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of AVGO. Assetmark Inc. boosted its holdings in Broadcom by 2.4% in the second quarter. Assetmark Inc. now owns 1,703,487 shares of the semiconductor manufacturer’s stock valued at $469,566,000 after purchasing an additional 39,466 shares during the last quarter. PARUS FINANCE UK Ltd lifted its holdings in shares of Broadcom by 175.3% in 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. boosted its stake in shares of Broadcom by 27.9% in the first quarter. Geneos Wealth Management Inc. now owns 64,130 shares of the semiconductor manufacturer’s stock worth $10,737,000 after buying an additional 13,978 shares during the last quarter. Ethic Inc. boosted its stake in shares of Broadcom by 1.6% in the second quarter. Ethic Inc. now owns 329,339 shares of the semiconductor manufacturer’s stock worth $88,708,000 after buying an additional 5,249 shares during the last quarter. Finally, Asio Capital LLC grew its holdings in Broadcom by 2.0% during 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. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Activity at Broadcom

In related news, CEO Hock E. Tan sold 100,000 shares of the business’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 completion of the sale, the chief executive officer directly owned 725,638 shares in the company, valued at approximately $246,412,152.04. The trade was a 12.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Justine Page sold 800 shares of the stock in a transaction on Tuesday, October 14th. The shares were sold at an average price of $350.15, for a total value of $280,120.00. Following the completion of the transaction, the director directly owned 22,182 shares of the company’s stock, valued at approximately $7,767,027.30. This represents a 3.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders bought 3,550 shares of company stock worth $1,227,869 and sold 665,271 shares worth $225,464,248. Corporate insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Mizuho set a $435.00 price target on Broadcom and gave the company an “outperform” rating in a report on Tuesday, October 21st. Citigroup reaffirmed a “buy” rating and set a $415.00 target price (up from $350.00) on shares of Broadcom in a report on Tuesday, October 14th. Wells Fargo & Company increased their price target on shares of Broadcom from $255.00 to $345.00 and gave the stock an “equal weight” rating in a report on Friday, September 5th. Sanford C. Bernstein raised their price target on shares of Broadcom from $295.00 to $400.00 and gave the company an “outperform” rating in a research report on Friday, September 5th. Finally, Evercore ISI lifted their price objective on shares of Broadcom from $342.00 to $403.00 and gave the company an “outperform” rating in a report on Wednesday, October 15th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $372.52.

Broadcom Price Performance

Broadcom stock opened at $349.43 on Friday. The stock has a market capitalization of $1.65 trillion, a P/E ratio of 89.14, a P/E/G ratio of 1.41 and a beta of 1.19. The company’s fifty day moving average price is $344.91 and its 200 day moving average price is $289.83. 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 Inc. has a 1 year low of $138.10 and a 1 year high of $386.48.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) 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 business had revenue of $15.95 billion for the quarter, compared to the consensus estimate of $15.82 billion. During the same period last year, the firm posted $1.24 earnings per share. The company’s revenue was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. As a group, equities research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

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

Broadcom 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.