SP Asset Management LLC Increases Stock Holdings in Broadcom Inc. $AVGO

SP Asset Management LLC increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.4% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 10,772 shares of the semiconductor manufacturer’s stock after purchasing an additional 144 shares during the quarter. SP Asset Management LLC’s holdings in Broadcom were worth $2,969,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Cheviot Value Management LLC bought a new stake in shares of Broadcom in the 1st quarter worth about $25,000. Sawyer & Company Inc grew its holdings in Broadcom by 62.1% during the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 36 shares during the last quarter. Legend Financial Advisors Inc. purchased a new stake in Broadcom in the 2nd quarter worth about $28,000. LGT Financial Advisors LLC bought a new stake in Broadcom in the second quarter worth about $31,000. Finally, Greenline Partners LLC purchased a new position in shares of Broadcom during the first quarter valued at approximately $33,000. 76.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Justine Page sold 800 shares of Broadcom stock in a transaction that occurred on Tuesday, October 14th. The shares were sold at an average price of $350.15, for a total transaction of $280,120.00. Following the transaction, the director directly owned 22,182 shares of the company’s stock, valued at $7,767,027.30. This trade represents a 3.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Mark David Brazeal sold 16,558 shares of the company’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total value of $5,755,726.38. Following the sale, the insider owned 329,302 shares of the company’s stock, valued at approximately $114,468,668.22. This represents a 4.79% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have purchased 3,550 shares of company stock worth $1,227,869 and have sold 665,271 shares worth $225,464,248. 2.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft set a $400.00 target price on Broadcom and gave the company a “buy” rating in a research note on Tuesday, October 14th. Citigroup restated a “buy” rating and set a $415.00 price objective (up previously from $350.00) on shares of Broadcom in a report on Tuesday, October 14th. Macquarie started coverage on Broadcom in a research note on Monday, September 15th. They issued an “outperform” rating and a $420.00 target price on the stock. Mizuho set a $435.00 target price on Broadcom and gave the stock an “outperform” rating in a research report on Tuesday, October 21st. Finally, Barclays set a $450.00 target price on shares of Broadcom and gave the company an “overweight” rating in a research note on Tuesday, October 14th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Broadcom presently has a consensus rating of “Buy” and a consensus price target of $372.52.

Broadcom Price Performance

Shares of AVGO stock opened at $349.43 on Monday. Broadcom Inc. has a twelve month low of $138.10 and a twelve 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. The stock has a fifty day simple moving average of $344.91 and a two-hundred day simple moving average of $290.63. The stock has a market capitalization of $1.65 trillion, a price-to-earnings ratio of 89.14, a P/E/G ratio of 1.41 and a beta of 1.19.

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

Broadcom Dividend Announcement

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 $0.59 dividend. The ex-dividend date was Monday, September 22nd. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Broadcom’s payout ratio is currently 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.