Sierra Summit Advisors LLC Cuts Stock Position in Broadcom Inc. $AVGO

Sierra Summit Advisors LLC lessened its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 42.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,142 shares of the semiconductor manufacturer’s stock after selling 7,331 shares during the quarter. Sierra Summit Advisors LLC’s holdings in Broadcom were worth $2,796,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Cheviot Value Management LLC purchased a new position in Broadcom in the 1st quarter valued at approximately $25,000. Sawyer & Company Inc increased its position in shares of Broadcom by 62.1% during the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock worth $26,000 after acquiring an additional 36 shares during the period. Legend Financial Advisors Inc. acquired a new stake in shares of Broadcom in the second quarter valued at $28,000. LGT Financial Advisors LLC purchased a new position in Broadcom in the second quarter valued at $31,000. Finally, New England Capital Financial Advisors LLC purchased a new position in Broadcom in the second quarter valued at $31,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Stock Performance

Shares of AVGO opened at $340.20 on Monday. The company has a market capitalization of $1.61 trillion, a price-to-earnings ratio of 86.79, a price-to-earnings-growth ratio of 1.16 and a beta of 1.19. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $386.48. 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 stock has a 50 day moving average price of $348.15 and a 200 day moving average price of $301.26.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share 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 during the quarter, compared to the consensus estimate of $15.82 billion. During the same quarter in the previous year, the firm earned $1.24 EPS. The company’s revenue was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. Research analysts predict 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 was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date was Monday, September 22nd. Broadcom’s dividend payout ratio is currently 60.20%.

Insider Buying and Selling

In other Broadcom news, insider Charlie B. Kawwas sold 3,893 shares of the firm’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $347.82, for a total transaction of $1,354,063.26. Following the transaction, the insider owned 25,295 shares of the company’s stock, valued at approximately $8,798,106.90. This trade represents a 13.34% 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 148,154 shares of Broadcom stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $336.67, for a total value of $49,879,007.18. Following the sale, the chief executive officer owned 825,998 shares in the company, valued at $278,088,746.66. This trade represents a 15.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have acquired 3,550 shares of company stock valued at $1,227,869 and have sold 665,271 shares valued at $225,483,192. Insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on AVGO. JPMorgan Chase & Co. upped their price target on Broadcom from $325.00 to $400.00 and gave the stock an “overweight” rating in a report on Friday, September 5th. UBS Group set a $415.00 price objective on Broadcom and gave the stock a “buy” rating in a research report on Tuesday, October 14th. Evercore ISI upped their target price on shares of Broadcom from $342.00 to $403.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 15th. Rosenblatt Securities lifted their price target on shares of Broadcom from $340.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, September 5th. Finally, Piper Sandler boosted their price target on shares of Broadcom from $315.00 to $375.00 and gave the stock an “overweight” rating in a report on Friday, September 5th. Three research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Broadcom currently has a consensus rating of “Buy” and an average price target of $374.21.

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.