Sterling Manor Financial LLC Makes New $289,000 Investment in Broadcom Inc. $AVGO

Key Points

• Sterling Manor Financial LLC invested approximately $289,000 to acquire 1,050 shares of Broadcom Inc., marking the stock as their 26th largest position.
• Broadcom's shares have received multiple target price increases from research firms, with prices ranging from $370.00 to $400.00 and a consensus rating of "Buy".
• CEO Hock E. Tan sold 148,154 shares of Broadcom on September 10th, a 15.21% decrease in his position, while the company also declared a quarterly dividend of $0.59 per share.

Sterling Manor Financial LLC acquired a new stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,050 shares of the semiconductor manufacturer's stock, valued at approximately $289,000. Broadcom comprises 0.2% of Sterling Manor Financial LLC's holdings, making the stock its 26th biggest position.

Several other hedge funds have also added to or reduced their stakes in the business. Waddell & Associates LLC boosted its position in Broadcom by 2.1% during the 1st quarter. Waddell & Associates LLC now owns 2,091 shares of the semiconductor manufacturer's stock worth $350,000 after buying an additional 43 shares during the period. Challenger Wealth Management boosted its position in Broadcom by 1.3% during the 1st quarter. Challenger Wealth Management now owns 3,504 shares of the semiconductor manufacturer's stock worth $587,000 after buying an additional 45 shares during the period. Martingale Asset Management L P boosted its position in Broadcom by 1.3% during the 1st quarter. Martingale Asset Management L P now owns 3,876 shares of the semiconductor manufacturer's stock worth $649,000 after buying an additional 48 shares during the period. Wescott Financial Advisory Group LLC boosted its position in Broadcom by 3.8% during the 1st quarter. Wescott Financial Advisory Group LLC now owns 1,326 shares of the semiconductor manufacturer's stock worth $222,000 after buying an additional 48 shares during the period. Finally, Monterey Private Wealth Inc. boosted its position in Broadcom by 1.8% during the 1st quarter. Monterey Private Wealth Inc. now owns 2,780 shares of the semiconductor manufacturer's stock worth $465,000 after buying an additional 48 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on AVGO. TD Cowen lifted their target price on shares of Broadcom from $355.00 to $370.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. HSBC raised shares of Broadcom from a "hold" rating to a "buy" rating and set a $400.00 target price for the company in a research report on Tuesday, June 24th. Sanford C. Bernstein increased their target price on shares of Broadcom from $295.00 to $400.00 and gave the company an "outperform" rating in a research report on Friday, September 5th. Cowen reissued a "buy" rating on shares of Broadcom in a research report on Friday, June 6th. Finally, Bank of America increased their target price on shares of Broadcom from $300.00 to $400.00 and gave the company a "buy" rating in a research report on Friday, September 5th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $356.48.

Insider Buying and Selling at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 148,154 shares of the firm's stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $336.67, for a total transaction of $49,879,007.18. Following the transaction, the chief executive officer directly owned 825,998 shares in the company, valued at approximately $278,088,746.66. This trade represents a 15.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gayla J. Delly sold 3,000 shares of the firm's stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $265.13, for a total value of $795,390.00. Following the transaction, the director owned 33,352 shares in the company, valued at approximately $8,842,615.76. This trade represents a 8.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders purchased 3,550 shares of company stock worth $1,227,869 and sold 793,802 shares worth $220,478,166. Insiders own 2.00% of the company's stock.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $360.00 on Wednesday. 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's fifty day simple moving average is $303.88 and its two-hundred day simple moving average is $244.46. Broadcom Inc. has a 1-year low of $138.10 and a 1-year high of $374.23. The stock has a market cap of $1.70 trillion, a PE ratio of 91.84, a price-to-earnings-growth ratio of 2.01 and a beta of 1.16.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data 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. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The business had revenue of $15.95 billion for the quarter, compared to analysts' expectations of $15.82 billion. During the same period last year, the business earned $1.24 EPS. The business's revenue was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. As a group, analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

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

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.

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