Summitry LLC Has $1.08 Million Position in Broadcom Inc. $AVGO

Summitry LLC increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 10.0% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 3,909 shares of the semiconductor manufacturer’s stock after purchasing an additional 356 shares during the period. Summitry LLC’s holdings in Broadcom were worth $1,078,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Cheviot Value Management LLC bought a new stake in shares of Broadcom in the first quarter valued at approximately $25,000. Sawyer & Company Inc increased its position in Broadcom by 62.1% during the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock worth $26,000 after acquiring an additional 36 shares during the period. Legend Financial Advisors Inc. acquired a new position in Broadcom during the 2nd quarter valued at $28,000. LGT Financial Advisors LLC bought a new stake in Broadcom in the 2nd quarter valued at $31,000. Finally, New England Capital Financial Advisors LLC acquired a new stake in Broadcom in the 2nd quarter worth $31,000. Institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on AVGO. Citigroup reaffirmed a “buy” rating and set a $415.00 price objective (up previously from $350.00) on shares of Broadcom in a research report on Tuesday, October 14th. Oppenheimer reaffirmed an “outperform” rating and issued a $360.00 price target (up previously from $325.00) on shares of Broadcom in a report on Friday, September 5th. TD Cowen raised their price objective on Broadcom from $355.00 to $370.00 and gave the stock a “buy” rating in a research report on Friday, September 5th. Piper Sandler boosted their price objective on Broadcom from $315.00 to $375.00 and gave the company an “overweight” rating in a research report on Friday, September 5th. Finally, Truist Financial upped their target price on Broadcom from $295.00 to $365.00 and gave the company a “buy” rating in a research note on Friday, September 5th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $372.52.

Insiders Place Their Bets

In related news, CEO Hock E. Tan sold 100,000 shares of the stock in a transaction dated 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 completion of the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Henry Samueli sold 368,797 shares of Broadcom stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $337.91, for a total transaction of $124,620,194.27. Following the transaction, the director directly owned 37,722,534 shares of the company’s stock, valued at $12,746,821,463.94. This represents a 0.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have purchased 3,550 shares of company stock worth $1,227,869 and have sold 665,271 shares worth $225,483,192. 2.00% of the stock is owned by company insiders.

Broadcom Trading Down 0.6%

AVGO stock opened at $340.50 on Wednesday. Broadcom Inc. has a 1-year low of $138.10 and a 1-year 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 business’s 50 day moving average is $349.10 and its 200-day moving average is $298.19. The firm has a market cap of $1.61 trillion, a P/E ratio of 86.86, a P/E/G ratio of 1.37 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. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The business had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. During the same quarter in the previous year, the firm earned $1.24 EPS. Broadcom’s quarterly revenue was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. Equities analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

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