Spinnaker Trust Increases Stock Position in Broadcom Inc. $AVGO

Spinnaker Trust increased its position in Broadcom Inc. (NASDAQ:AVGO) by 0.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 57,641 shares of the semiconductor manufacturer’s stock after acquiring an additional 461 shares during the period. Broadcom comprises approximately 1.0% of Spinnaker Trust’s holdings, making the stock its 23rd largest position. Spinnaker Trust’s holdings in Broadcom were worth $15,889,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the company. Sawyer & Company Inc raised its holdings in Broadcom by 62.1% in the 2nd 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 last quarter. PFS Partners LLC raised its stake in Broadcom by 38.4% during the 2nd quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer’s stock valued at $38,000 after buying an additional 38 shares during the last quarter. Costello Asset Management INC raised its stake in Broadcom by 1.5% during the 2nd quarter. Costello Asset Management INC now owns 2,528 shares of the semiconductor manufacturer’s stock valued at $697,000 after buying an additional 38 shares during the last quarter. Waddell & Associates LLC raised its stake in Broadcom by 2.1% during the 1st quarter. Waddell & Associates LLC now owns 2,091 shares of the semiconductor manufacturer’s stock valued at $350,000 after buying an additional 43 shares during the last quarter. Finally, Luts & Greenleigh Group Inc. raised its stake in Broadcom by 1.3% during the 2nd quarter. Luts & Greenleigh Group Inc. now owns 3,405 shares of the semiconductor manufacturer’s stock valued at $939,000 after buying an additional 44 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Stock Down 1.9%

Shares of AVGO stock opened at $362.55 on Tuesday. The stock has a market cap of $1.71 trillion, a P/E ratio of 92.49, a PEG ratio of 2.08 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 company’s fifty day simple moving average is $340.67 and its two-hundred day simple moving average is $285.47.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, topping the consensus estimate 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 net margin of 31.59% and a return on equity of 36.60%. The business’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. Analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were paid a $0.59 dividend. The ex-dividend date was Monday, September 22nd. This represents a $2.36 annualized dividend and a yield of 0.7%. Broadcom’s payout ratio is presently 60.20%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Macquarie assumed coverage on shares of Broadcom in a research note on Monday, September 15th. They set an “outperform” rating and a $420.00 target price for the company. Sanford C. Bernstein boosted their target price on shares of Broadcom from $295.00 to $400.00 and gave the company an “outperform” rating in a research note on Friday, September 5th. Deutsche Bank Aktiengesellschaft set a $400.00 target price on shares of Broadcom and gave the company a “buy” rating in a research note on Tuesday, October 14th. Barclays set a $450.00 target price on shares of Broadcom and gave the company an “overweight” rating in a research note on Tuesday, October 14th. Finally, Evercore ISI boosted their price objective on shares of Broadcom from $342.00 to $403.00 and gave the company an “outperform” rating in a research report on Wednesday, October 15th. Three analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Broadcom has a consensus rating of “Buy” and a consensus target price of $372.52.

Insiders Place Their Bets

In other Broadcom news, Director Justine Page sold 800 shares of the business’s stock in a transaction on Tuesday, October 14th. The shares were sold at an average price of $350.15, for a total value of $280,120.00. Following the sale, the director owned 22,182 shares in the company, valued at $7,767,027.30. The trade was a 3.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Charlie B. Kawwas sold 3,893 shares of the business’s stock in a transaction on 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 completion of the sale, the insider owned 25,295 shares in the company, valued at approximately $8,798,106.90. The trade was a 13.34% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have bought 3,550 shares of company stock worth $1,227,869 and have sold 665,271 shares worth $225,464,248. 2.00% of the stock is owned by company insiders.

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.