Sovran Advisors LLC Purchases 1,203 Shares of Broadcom Inc. $AVGO

Key Points

• Sovran Advisors LLC increased its stake in Broadcom Inc. by 10.8%, owning 12,349 shares worth approximately $3.36 million after acquiring an additional 1,203 shares during the second quarter.
• Multiple analysts have raised their target prices for Broadcom, with estimates ranging from $340 to $385, while the stock currently holds an average rating of "Buy".
• Broadcom is set to pay a quarterly dividend of $0.59 per share, with an ex-dividend date of September 22nd, reflecting a 0.7% dividend yield.

Sovran Advisors LLC lifted its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 10.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,349 shares of the semiconductor manufacturer's stock after buying an additional 1,203 shares during the period. Sovran Advisors LLC's holdings in Broadcom were worth $3,357,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Nuveen LLC bought a new position in Broadcom during the first quarter valued at about $6,649,117,000. Price T Rowe Associates Inc. MD increased its stake in Broadcom by 37.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer's stock valued at $10,968,270,000 after acquiring an additional 17,985,046 shares during the period. GAMMA Investing LLC increased its stake in Broadcom by 18,179.3% during the first quarter. GAMMA Investing LLC now owns 17,276,164 shares of the semiconductor manufacturer's stock valued at $2,892,548,000 after acquiring an additional 17,181,652 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Broadcom by 16.7% during the first quarter. Goldman Sachs Group Inc. now owns 31,854,414 shares of the semiconductor manufacturer's stock valued at $5,333,384,000 after purchasing an additional 4,550,647 shares in the last quarter. Finally, Deutsche Bank AG boosted its holdings in Broadcom by 36.9% during the first quarter. Deutsche Bank AG now owns 15,758,895 shares of the semiconductor manufacturer's stock valued at $2,638,512,000 after purchasing an additional 4,245,345 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Analyst Ratings Changes

AVGO has been the topic of several research reports. Morgan Stanley upped their price objective on Broadcom from $338.00 to $357.00 and gave the stock an "overweight" rating in a report on Tuesday, September 2nd. Erste Group Bank upgraded shares of Broadcom from a "hold" rating to a "buy" rating in a research report on Thursday, June 5th. Cowen reiterated a "buy" rating on shares of Broadcom in a report on Friday, June 6th. Benchmark raised their price objective on Broadcom from $315.00 to $385.00 and gave the company a "buy" rating in a report on Friday, September 5th. Finally, Susquehanna raised their target price on shares of Broadcom from $280.00 to $300.00 and gave the company a "positive" rating in a research note on Friday, June 6th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Broadcom presently has a consensus rating of "Buy" and an average price target of $356.48.

Insider Activity

In other Broadcom news, Director Harry L. You bought 500 shares of the firm's stock in a transaction that occurred on Wednesday, September 10th. The shares were bought at an average price of $363.38 per share, for a total transaction of $181,690.00. Following the transaction, the director directly owned 35,602 shares in the company, valued at $12,937,054.76. This trade represents a 1.42% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kirsten M. Spears sold 7,498 shares of Broadcom stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $347.66, for a total transaction of $2,606,754.68. Following the completion of the transaction, the chief financial officer owned 313,330 shares in the company, valued at approximately $108,932,307.80. The trade was a 2.34% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 3,550 shares of company stock worth $1,227,869 and have sold 840,522 shares worth $236,959,124. Corporate insiders own 2.00% of the company's stock.

Broadcom Stock Performance

Shares of AVGO stock traded down $0.41 during trading on Friday, reaching $344.94. 41,147,297 shares of the company's stock traded hands, compared to its average volume of 27,762,164. The company has a market capitalization of $1.63 trillion, a P/E ratio of 87.99, a PEG ratio of 1.91 and a beta of 1.16. 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 firm's 50-day moving average is $308.05 and its 200 day moving average is $247.33. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $374.23.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.03. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The business had revenue of $15.95 billion for the quarter, compared to analysts' expectations of $15.82 billion. During the same period in the prior year, the company posted $1.24 EPS. The business's revenue for the quarter was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. Equities research analysts expect that Broadcom Inc. will post 5.38 EPS for the current 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 60.20%.

Broadcom Company 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.