Sutton Place Investors LLC Grows Stake in Broadcom Inc. $AVGO

Sutton Place Investors LLC lifted its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 25.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,845 shares of the semiconductor manufacturer's stock after buying an additional 775 shares during the period. Sutton Place Investors LLC's holdings in Broadcom were worth $1,060,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Broadcom by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 477,220,137 shares of the semiconductor manufacturer's stock worth $79,900,968,000 after buying an additional 2,085,534 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Broadcom by 37.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer's stock worth $10,968,270,000 after buying an additional 17,985,046 shares during the last quarter. Nuveen LLC purchased a new position in shares of Broadcom in the 1st quarter worth $6,649,117,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Broadcom by 2.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 35,243,467 shares of the semiconductor manufacturer's stock worth $5,900,814,000 after buying an additional 842,088 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Broadcom by 3.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 33,852,310 shares of the semiconductor manufacturer's stock valued at $5,668,134,000 after purchasing an additional 1,043,948 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Broadcom

In other news, insider Mark David Brazeal sold 16,558 shares of Broadcom stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total value of $5,755,726.38. Following the sale, the insider directly owned 329,302 shares of the company's stock, valued at approximately $114,468,668.22. The trade was a 4.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Hock E. Tan sold 100,000 shares of Broadcom stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $339.58, for a total value of $33,958,000.00. Following the completion of the sale, the chief executive officer directly owned 725,638 shares in the company, valued at $246,412,152.04. This trade represents a 12.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 3,550 shares of company stock valued at $1,227,869 and sold 666,071 shares valued at $225,623,008. Insiders own 2.00% of the company's stock.

Broadcom Price Performance

NASDAQ:AVGO opened at $345.02 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86. The business's 50-day simple moving average is $321.92 and its two-hundred day simple moving average is $261.43. The stock has a market cap of $1.63 trillion, a PE ratio of 88.02, a P/E/G ratio of 1.91 and a beta of 1.20. Broadcom Inc. has a 52 week low of $138.10 and a 52 week high of $374.23.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, beating analysts' consensus estimates of $1.66 by $0.03. The business had revenue of $15.95 billion for the quarter, compared to analysts' expectations of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The business's quarterly revenue was up 22.0% on a year-over-year basis. During the same period last year, the firm earned $1.24 earnings per share. 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 firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Broadcom's dividend payout ratio (DPR) is currently 60.20%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AVGO. Macquarie began coverage on Broadcom in a research report on Monday, September 15th. They set an "outperform" rating and a $420.00 target price on the stock. Arete Research upgraded Broadcom to a "strong-buy" rating in a research report on Monday, July 28th. Weiss Ratings downgraded Broadcom from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday. HSBC upgraded Broadcom from a "hold" rating to a "buy" rating and set a $400.00 target price on the stock in a research report on Tuesday, June 24th. Finally, Hsbc Global Res upgraded Broadcom from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, June 24th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $357.22.

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.

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