Granite Group Advisors LLC Reduces Holdings in Broadcom Inc. $AVGO

Granite Group Advisors LLC decreased its position in Broadcom Inc. (NASDAQ:AVGO) by 25.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,908 shares of the semiconductor manufacturer’s stock after selling 637 shares during the period. Granite Group Advisors LLC’s holdings in Broadcom were worth $526,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Broadcom during the 1st quarter worth approximately $25,000. Cheviot Value Management LLC purchased a new position in shares of Broadcom during the 1st quarter worth approximately $25,000. Sawyer & Company Inc boosted its position in shares of Broadcom by 62.1% during the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 36 shares during the period. Legend Financial Advisors Inc. purchased a new position in shares of Broadcom during the 2nd quarter worth approximately $28,000. Finally, Wood Tarver Financial Group LLC boosted its position in shares of Broadcom by 342.5% during the 1st quarter. Wood Tarver Financial Group LLC now owns 177 shares of the semiconductor manufacturer’s stock worth $30,000 after purchasing an additional 137 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Activity

In related news, insider Mark David Brazeal sold 16,558 shares of Broadcom stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $347.61, for a total transaction of $5,755,726.38. Following the sale, the insider directly owned 329,302 shares in the company, valued at $114,468,668.22. This trade represents a 4.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Charlie B. Kawwas sold 3,893 shares of Broadcom 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 sale, the insider owned 25,295 shares in the company, valued at $8,798,106.90. This represents a 13.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders acquired 3,550 shares of company stock worth $1,227,869 and sold 665,271 shares worth $225,464,248. 2.00% of the stock is owned by insiders.

Broadcom Price Performance

Shares of AVGO opened at $342.66 on Wednesday. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $374.23. The firm’s fifty day simple moving average is $329.23 and its 200-day simple moving average is $271.96. The firm has a market capitalization of $1.62 trillion, a price-to-earnings ratio of 87.41, a PEG ratio of 1.97 and a beta of 1.20. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $15.82 billion. During the same period last year, the business earned $1.24 EPS. The company’s revenue was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. Equities analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were paid a dividend of $0.59 per share. 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 (DPR) is currently 60.20%.

Wall Street Analyst Weigh In

AVGO has been the topic of a number of research reports. Sanford C. Bernstein increased their target price on shares of Broadcom from $295.00 to $400.00 and gave the stock an “outperform” rating in a report on Friday, September 5th. JPMorgan Chase & Co. increased their target price on shares of Broadcom from $325.00 to $400.00 and gave the stock an “overweight” rating in a report on Friday, September 5th. Deutsche Bank Aktiengesellschaft set a $400.00 target price on shares of Broadcom and gave the stock a “buy” rating in a report on Tuesday, October 14th. TD Cowen increased their target price on shares of Broadcom from $355.00 to $370.00 and gave the stock a “buy” rating in a report on Friday, September 5th. Finally, Hsbc Global Res upgraded shares of Broadcom from a “hold” rating to a “strong-buy” rating in a 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $372.52.

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.