Suncoast Equity Management Purchases Shares of 764 Broadcom Inc. $AVGO

Suncoast Equity Management purchased a new position in Broadcom Inc. (NASDAQ:AVGO - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 764 shares of the semiconductor manufacturer's stock, valued at approximately $211,000.

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Other hedge funds have also recently modified their holdings of the company. Cheviot Value Management LLC purchased a new position in shares of Broadcom in the first quarter worth $25,000. Sawyer & Company Inc grew its holdings in shares of Broadcom by 62.1% during the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock valued at $26,000 after buying an additional 36 shares during the last quarter. Legend Financial Advisors Inc. acquired a new position in shares of Broadcom in the 2nd quarter valued at $28,000. LGT Financial Advisors LLC purchased a new position in Broadcom in the 2nd quarter worth $31,000. Finally, Greenline Partners LLC acquired a new stake in Broadcom during the 1st quarter worth about $33,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Transactions at Broadcom

In other Broadcom news, CFO Kirsten M. Spears sold 7,498 shares of the firm's stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $347.66, for a total value of $2,606,754.68. Following the sale, the chief financial officer directly owned 313,330 shares of the company's stock, valued at approximately $108,932,307.80. This trade represents a 2.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Hock E. Tan sold 148,154 shares of the company's stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $336.67, for a total value of $49,879,007.18. Following the transaction, the chief executive officer directly owned 825,998 shares of the company's stock, valued at approximately $278,088,746.66. The trade was a 15.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have bought 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 currently owned by company insiders.

Wall Street Analysts Forecast Growth

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A number of research analysts have recently weighed in on the company. Raymond James Financial set a $420.00 price objective on Broadcom in a report on Thursday. The Goldman Sachs Group reiterated a "buy" rating and issued a $340.00 price target on shares of Broadcom in a report on Wednesday, August 13th. Oppenheimer reissued an "outperform" rating and set a $360.00 price target (up from $325.00) on shares of Broadcom in a research report on Friday, September 5th. Piper Sandler upped their price objective on shares of Broadcom from $315.00 to $375.00 and gave the company an "overweight" rating in a report on Friday, September 5th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Broadcom in a research note on Wednesday. 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. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $374.21.

View Our Latest Research Report on AVGO

Broadcom Price Performance

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Shares of NASDAQ AVGO opened at $346.82 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37. The stock has a market capitalization of $1.64 trillion, a price-to-earnings ratio of 88.47, a PEG ratio of 1.21 and a beta of 1.19. The firm's 50 day simple moving average is $348.54 and its 200-day simple moving average is $298.92. Broadcom Inc. has a 12 month low of $138.10 and a 12 month high of $386.48.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (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 the consensus estimate of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The firm's quarterly revenue was up 22.0% compared to the same quarter last year. 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. Analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were given a dividend of $0.59 per share. The ex-dividend date was Monday, September 22nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. Broadcom's dividend payout ratio (DPR) is 60.20%.

About Broadcom

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.

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