Beacon Pointe Advisors LLC Buys 953 Shares of Broadcom Inc. $AVGO

Beacon Pointe Advisors LLC grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.4% in the second quarter, HoldingsChannel.com reports. The firm owned 253,328 shares of the semiconductor manufacturer’s stock after buying an additional 953 shares during the quarter. Broadcom comprises approximately 0.7% of Beacon Pointe Advisors LLC’s holdings, making the stock its 25th largest holding. Beacon Pointe Advisors LLC’s holdings in Broadcom were worth $69,830,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Cheviot Value Management LLC purchased a new position in shares of Broadcom in the first quarter valued at about $25,000. Sawyer & Company Inc grew its stake in shares of Broadcom by 62.1% in the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 36 shares during the last quarter. Longfellow Investment Management Co. LLC bought a new stake in shares of Broadcom in the second quarter worth about $27,000. Legend Financial Advisors Inc. purchased a new position in Broadcom during the 2nd quarter valued at about $28,000. Finally, LGT Financial Advisors LLC bought a new position in Broadcom during the 2nd quarter valued at approximately $31,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Down 4.3%

Shares of NASDAQ:AVGO opened at $385.83 on Tuesday. 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 $353.10 and a two-hundred day simple moving average of $308.39. Broadcom Inc. has a 12-month low of $138.10 and a 12-month high of $403.00. The stock has a market capitalization of $1.82 trillion, a price-to-earnings ratio of 98.43, a PEG ratio of 1.37 and a beta of 1.19.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.03. The firm had revenue of $15.95 billion for the quarter, compared to analysts’ expectations of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The company’s quarterly revenue was up 22.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. On average, 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 announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were issued a $0.59 dividend. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $2.36 annualized dividend and a yield of 0.6%. Broadcom’s payout ratio is 60.20%.

Insider Transactions at Broadcom

In other news, insider Mark David Brazeal sold 16,558 shares of the stock in a transaction that occurred 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 owned 329,302 shares in the company, valued at $114,468,668.22. This represents a 4.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Henry Samueli sold 368,797 shares of the business’s stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $337.91, for a total transaction of $124,620,194.27. Following the completion of the transaction, the director owned 37,722,534 shares of the company’s stock, valued at approximately $12,746,821,463.94. The trade was a 0.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have purchased 3,550 shares of company stock valued at $1,227,869 and have sold 665,271 shares valued at $225,483,192. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of recent analyst reports. Sanford C. Bernstein lifted their price objective on Broadcom from $295.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday, September 5th. Mizuho set a $435.00 price target on Broadcom and gave the stock an “outperform” rating in a research note on Tuesday, October 21st. Wells Fargo & Company lifted their price target on shares of Broadcom from $255.00 to $345.00 and gave the company an “equal weight” rating in a report on Friday, September 5th. Benchmark upped their price objective on shares of Broadcom from $315.00 to $385.00 and gave the stock a “buy” rating in a report on Friday, September 5th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $443.00 target price (up previously from $409.00) on shares of Broadcom in a research note on Monday. Three investment analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Broadcom has a consensus rating of “Buy” and an average price target of $383.00.

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.