Sitrin Capital Management LLC Acquires 2,805 Shares of Broadcom Inc. $AVGO

Sitrin Capital Management LLC lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 12.8% in the second quarter, according to its most recent filing with the SEC. The firm owned 24,685 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,805 shares during the period. Broadcom makes up about 3.5% of Sitrin Capital Management LLC’s investment portfolio, making the stock its 13th biggest position. Sitrin Capital Management LLC’s holdings in Broadcom were worth $6,804,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Massachusetts Wealth Management bought a new position in shares of Broadcom during the 2nd quarter worth about $300,000. Eagle Strategies LLC lifted its holdings in shares of Broadcom by 15.3% during the 2nd quarter. Eagle Strategies LLC now owns 2,558 shares of the semiconductor manufacturer’s stock worth $705,000 after acquiring an additional 339 shares during the period. Bar Harbor Wealth Management bought a new position in shares of Broadcom during the 2nd quarter worth about $3,480,000. Virtus Wealth Solutions LLC lifted its holdings in shares of Broadcom by 807.0% during the 2nd quarter. Virtus Wealth Solutions LLC now owns 88,388 shares of the semiconductor manufacturer’s stock worth $24,364,000 after acquiring an additional 78,643 shares during the period. Finally, Ignite Planners LLC lifted its holdings in shares of Broadcom by 1.3% during the 2nd quarter. Ignite Planners LLC now owns 14,927 shares of the semiconductor manufacturer’s stock worth $4,229,000 after acquiring an additional 186 shares during the period. 76.43% of the stock is owned by institutional investors.

Insider Activity at Broadcom

In other news, Director Henry Samueli sold 368,797 shares of Broadcom stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $337.91, for a total transaction of $124,620,194.27. Following the completion of the sale, the director owned 37,722,534 shares in the company, valued at $12,746,821,463.94. The trade was a 0.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mark David Brazeal sold 16,558 shares of Broadcom stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total transaction of $5,755,726.38. Following the transaction, the insider directly owned 329,302 shares in the company, valued at $114,468,668.22. The trade was a 4.79% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 3,550 shares of company stock worth $1,227,869 and have sold 664,471 shares worth $225,184,128. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AVGO. Morgan Stanley lifted their price target on shares of Broadcom from $338.00 to $357.00 and gave the company an “overweight” rating in a report on Tuesday, September 2nd. Truist Financial lifted their price target on shares of Broadcom from $295.00 to $365.00 and gave the company a “buy” rating in a report on Friday, September 5th. Sanford C. Bernstein lifted their price target on shares of Broadcom from $295.00 to $400.00 and gave the company an “outperform” rating in a report on Friday, September 5th. Rosenblatt Securities lifted their price target on shares of Broadcom from $340.00 to $400.00 and gave the company a “buy” rating in a report on Friday, September 5th. Finally, Citigroup lifted their price target on shares of Broadcom from $315.00 to $350.00 and gave the company a “buy” rating in a report on Friday, September 5th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Broadcom presently has an average rating of “Buy” and an average price target of $359.44.

Broadcom Trading Up 9.9%

AVGO opened at $356.70 on Tuesday. Broadcom Inc. has a 1-year low of $138.10 and a 1-year high of $374.23. The firm has a 50-day moving average price of $323.82 and a two-hundred day moving average price of $264.90. 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 has a market capitalization of $1.68 trillion, a PE ratio of 90.99, a PEG ratio of 1.80 and a beta of 1.20.

Broadcom (NASDAQ:AVGO) last issued 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. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The company had revenue of $15.95 billion during the quarter, compared to analysts’ expectations of $15.82 billion. During the same quarter in the previous year, the company earned $1.24 EPS. Broadcom’s revenue was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. As a group, equities analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

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