Alcosta Capital Management Inc. Trims Stake in Broadcom Inc. $AVGO

Alcosta Capital Management Inc. lowered its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,640 shares of the semiconductor manufacturer’s stock after selling 152 shares during the quarter. Broadcom accounts for about 5.6% of Alcosta Capital Management Inc.’s portfolio, making the stock its 5th largest position. Alcosta Capital Management Inc.’s holdings in Broadcom were worth $10,100,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC lifted its stake in shares of Broadcom by 21.8% in the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock valued at $6,882,000 after purchasing an additional 5,322 shares during the last quarter. Revolve Wealth Partners LLC lifted its position in Broadcom by 10.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock worth $1,854,000 after buying an additional 756 shares during the last quarter. United Bank boosted its stake in Broadcom by 76.5% during the first quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock worth $392,000 after buying an additional 1,014 shares during the period. Fiera Capital Corp increased its position in Broadcom by 1.1% during the first quarter. Fiera Capital Corp now owns 12,084 shares of the semiconductor manufacturer’s stock valued at $2,023,000 after acquiring an additional 137 shares during the last quarter. Finally, N.E.W. Advisory Services LLC purchased a new stake in shares of Broadcom in the first quarter valued at $104,000. 76.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Kirsten M. Spears sold 7,498 shares of the stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $347.66, for a total transaction of $2,606,754.68. Following the completion of the sale, the chief financial officer owned 313,330 shares of the company’s stock, valued at $108,932,307.80. This represents a 2.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Hock E. Tan sold 148,154 shares of the firm’s stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $336.67, for a total transaction of $49,879,007.18. Following the completion of the sale, the chief executive officer owned 825,998 shares of the company’s stock, valued at approximately $278,088,746.66. This trade represents a 15.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders purchased 3,550 shares of company stock valued at $1,227,869 and sold 665,271 shares valued at $225,483,192. Company insiders own 2.00% of the company’s stock.

Broadcom Price Performance

NASDAQ AVGO opened at $397.57 on Friday. The company has a market cap of $1.88 trillion, a PE ratio of 101.42, a P/E/G ratio of 1.35 and a beta of 1.19. The firm’s 50 day moving average price is $351.00 and its 200-day moving average price is $305.01. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $399.87.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.03. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The company had revenue of $15.95 billion during the quarter, compared to analyst estimates of $15.82 billion. During the same quarter in the prior year, the business earned $1.24 earnings per share. Broadcom’s revenue was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. Sell-side analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently announced 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 0.6%. The ex-dividend date was Monday, September 22nd. Broadcom’s payout ratio is 60.20%.

Analysts Set New Price Targets

AVGO has been the subject of a number of recent analyst reports. Mizuho set a $435.00 price target on shares of Broadcom and gave the stock an “outperform” rating in a research note on Tuesday, October 21st. Argus boosted their target price on Broadcom from $285.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, September 8th. Raymond James Financial set a $420.00 price target on Broadcom and gave the stock an “outperform” rating in a report on Thursday, November 20th. KeyCorp set a $460.00 price target on Broadcom in a research note on Monday, October 13th. Finally, Truist Financial boosted their price objective on Broadcom from $295.00 to $365.00 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, thirty-one have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $377.61.

About Broadcom

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.