Coastal Bridge Advisors LLC Buys 1,438 Shares of Broadcom Inc. $AVGO

Key Points

• Coastal Bridge Advisors increased its Broadcom position by 8.2% in the second quarter, purchasing 1,438 shares for a total holding of 19,028 shares worth approximately $7.19 million. Institutional investors collectively own 76.43% of the company.
• Broadcom exceeded quarterly expectations with earnings of $3.32 per share and revenue of $29.59 billion, while revenue rose 85.5% year over year. The company also declared a quarterly dividend of $0.65 per share, representing a 0.7% annualized yield.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $500.60. However, concerns include elevated valuation, customer concentration, margin pressure and fourth-quarter guidance that came in slightly below expectations.

Coastal Bridge Advisors LLC lifted its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 8.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,028 shares of the semiconductor manufacturer's stock after buying an additional 1,438 shares during the quarter. Coastal Bridge Advisors LLC's holdings in Broadcom were worth $7,188,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. State Street Corp boosted its position in shares of Broadcom by 2.7% in the fourth quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer's stock valued at $65,788,194,000 after acquiring an additional 5,040,801 shares during the period. Geode Capital Management LLC raised its stake in Broadcom by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 111,277,280 shares of the semiconductor manufacturer's stock valued at $38,396,634,000 after purchasing an additional 1,548,699 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Broadcom by 3.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 85,546,083 shares of the semiconductor manufacturer's stock valued at $29,607,500,000 after purchasing an additional 2,491,644 shares during the last quarter. Norges Bank bought a new stake in Broadcom in the 4th quarter valued at $24,252,196,000. Finally, Bank of America Corp DE grew its position in Broadcom by 4.6% in the 2nd quarter. Bank of America Corp DE now owns 61,423,013 shares of the semiconductor manufacturer's stock worth $23,202,543,000 after purchasing an additional 2,685,916 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Broadcom Stock Down 0.0%

NASDAQ:AVGO opened at $357.89 on Monday. The stock's fifty day moving average price is $383.57 and its two-hundred day moving average price is $377.59. Broadcom Inc. has a 52-week low of $289.96 and a 52-week high of $495.00. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.29 and a current ratio of 2.50. The company has a market cap of $1.70 trillion, a price-to-earnings ratio of 45.71 and a beta of 1.44.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 EPS for the quarter, beating the consensus estimate of $3.22 by $0.10. The company had revenue of $29.59 billion during the quarter, compared to analysts' expectations of $29.24 billion. Broadcom had a return on equity of 48.33% and a net margin of 42.94%.The business's revenue for the quarter was up 85.5% on a year-over-year basis. During the same period last year, the firm earned $1.69 EPS. On average, analysts anticipate that Broadcom Inc. will post 10.25 EPS for the current year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st will be given a dividend of $0.65 per share. The ex-dividend date is Monday, September 21st. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. Broadcom's payout ratio is currently 33.21%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Erste Group Bank reiterated a "hold" rating on shares of Broadcom in a research note on Tuesday, July 7th. The Goldman Sachs Group restated a "buy" rating on shares of Broadcom in a research note on Monday, August 3rd. Evercore set a $578.00 price target on Broadcom in a report on Thursday. DA Davidson set a $350.00 price objective on Broadcom and gave the stock a "neutral" rating in a research report on Friday. Finally, Oppenheimer restated an "outperform" rating and set a $535.00 price objective (up from $450.00) on shares of Broadcom in a research report on Thursday, June 4th. Thirty-one analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $500.60.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Investor interest in Broadcom’s AI opportunity remains strong. AI semiconductor revenue surged 221% year over year to $16.7 billion, while management raised its AI revenue outlook to approximately $115 billion for fiscal 2027 and $230 billion for fiscal 2028. Several analysts and commentators view the selloff as a buying opportunity. The Path to $230 Billion: Broadcom Outlines the Next Phase of Its AI Growth Story
• Positive Sentiment: Analysts continue to see substantial upside despite some target reductions. Truist maintained a buy rating with a $520 target, while other firms cited targets ranging from $575 to $600. Macquarie upgraded Broadcom to Outperform, citing strong custom-chip growth and reduced concerns about customers developing chips internally. These Analysts Increase Their Forecasts On Broadcom Following Upbeat Q3 Earnings
• Positive Sentiment: Unusual options activity provided another bullish trading signal: investors purchased roughly 373,000 call options, about 26% above average call volume. Broadcom also declared a quarterly dividend of $0.65 per share, payable September 30 to eligible shareholders.
• Neutral Sentiment: Broadcom beat quarterly expectations with adjusted earnings of $3.32 per share versus a $3.22 consensus and revenue of $29.59 billion. The company’s long-term AI demand commentary was strong, but investors are focused on whether supply, power, land and data-center construction constraints can limit near-term shipments. Broadcom CEO Says AI Demand Could Be Significantly Higher
• Negative Sentiment: The main pressure remains Broadcom’s fourth-quarter revenue outlook of $34.8 billion, slightly below Wall Street’s roughly $35.0 billion expectation. The modest guidance miss, concerns about margin compression and customer concentration—including major AI customers—caused the initial sell-the-news reaction despite excellent AI growth.
• Negative Sentiment: Third Point disclosed that it exited its remaining Broadcom position during the second quarter. Although the holding was relatively small, the sale adds to caution around elevated valuation and expectations for the AI-chip cycle.

Insider Buying and Selling at Broadcom

In related news, insider Mark Brazeal sold 25,000 shares of the stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $401.33, for a total value of $10,033,250.00. Following the sale, the insider directly owned 194,989 shares in the company, valued at $78,254,935.37. This trade represents a 11.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Justine Page sold 1,602 shares of the stock in a transaction on Monday, June 29th. The stock was sold at an average price of $373.86, for a total transaction of $598,923.72. Following the completion of the sale, the director owned 17,426 shares in the company, valued at approximately $6,514,884.36. This trade represents a 8.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 61,644 shares of company stock worth $24,016,214. 1.90% of the stock is currently owned by insiders.

Broadcom Profile

Broadcom Inc NASDAQ: AVGO is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company's semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom's portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.

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