Sandler Capital Management Purchases 4,176 Shares of Broadcom Inc. $AVGO

Key Points

• Sandler Capital Management increased its stake in Broadcom Inc. by 99.7%, possessing a total of 8,366 shares valued at approximately $1.4 million as of the last quarter.
• Multiple brokerages have raised their price targets for Broadcom, with Bank of America setting a new target of $400, reflecting strong investor confidence as the stock holds a consensus "Buy" rating.
• Broadcom recently announced a quarterly dividend of $0.59 per share, with a dividend yield of 0.7%, which will be paid on September 30th.

Sandler Capital Management grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 99.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,366 shares of the semiconductor manufacturer's stock after acquiring an additional 4,176 shares during the quarter. Sandler Capital Management's holdings in Broadcom were worth $1,401,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Scge Management L.P. boosted its holdings in shares of Broadcom by 7.8% during the 1st quarter. Scge Management L.P. now owns 1,207,000 shares of the semiconductor manufacturer's stock valued at $202,088,000 after acquiring an additional 87,000 shares during the last quarter. Petrus Trust Company LTA purchased a new stake in shares of Broadcom during the 1st quarter valued at about $489,000. Plancorp LLC boosted its holdings in shares of Broadcom by 31.7% during the 1st quarter. Plancorp LLC now owns 10,791 shares of the semiconductor manufacturer's stock valued at $1,807,000 after acquiring an additional 2,598 shares during the last quarter. New England Asset Management Inc. boosted its holdings in shares of Broadcom by 0.6% in the first quarter. New England Asset Management Inc. now owns 17,660 shares of the semiconductor manufacturer's stock worth $2,957,000 after buying an additional 105 shares during the last quarter. Finally, NWI Management LP purchased a new position in shares of Broadcom in the first quarter worth approximately $3,851,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on AVGO. UBS Group raised their price objective on shares of Broadcom from $290.00 to $345.00 and gave the stock a "buy" rating in a report on Monday, August 25th. Sanford C. Bernstein raised their price objective on shares of Broadcom from $295.00 to $400.00 and gave the stock an "outperform" rating in a report on Friday. Cantor Fitzgerald reissued an "overweight" rating and issued a $300.00 price objective on shares of Broadcom in a report on Friday, June 6th. Arete Research raised shares of Broadcom to a "strong-buy" rating in a report on Monday, July 28th. Finally, HSBC raised shares of Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price objective on the stock in a report on Tuesday, June 24th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Broadcom currently has a consensus rating of "Buy" and a consensus price target of $351.00.

Broadcom Price Performance

NASDAQ:AVGO traded up $28.79 during trading hours on Friday, hitting $334.89. 78,318,626 shares of the stock traded hands, compared to its average volume of 20,932,260. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86. Broadcom Inc. has a 1 year low of $134.90 and a 1 year high of $356.34. The company has a market cap of $1.58 trillion, a price-to-earnings ratio of 85.43, a price-to-earnings-growth ratio of 2.38 and a beta of 1.16. The stock has a 50 day moving average price of $292.09 and a 200 day moving average price of $237.38.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.03. The business 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 company's revenue for the quarter was up 22.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. Sell-side analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

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

Insider Activity

In other news, Director Gayla J. Delly sold 3,000 shares of Broadcom stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $265.13, for a total transaction of $795,390.00. Following the sale, the director owned 33,352 shares in the company, valued at $8,842,615.76. This trade represents a 8.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Henry Samueli sold 473,898 shares of Broadcom stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the sale, the director owned 38,188,575 shares in the company, valued at approximately $10,132,574,604.75. The trade was a 1.23% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 830,516 shares of company stock valued at $217,286,457. Company insiders own 2.00% of the company's stock.

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.