Garner Asset Management Corp Has $4.23 Million Position in Broadcom Inc. $AVGO

Garner Asset Management Corp lowered its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 10.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,326 shares of the semiconductor manufacturer’s stock after selling 1,701 shares during the period. Broadcom makes up 2.0% of Garner Asset Management Corp’s portfolio, making the stock its 9th biggest position. Garner Asset Management Corp’s holdings in Broadcom were worth $4,225,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Fortress Financial Solutions LLC boosted its stake in Broadcom by 17.9% during the 2nd quarter. Fortress Financial Solutions LLC now owns 3,799 shares of the semiconductor manufacturer’s stock worth $1,047,000 after acquiring an additional 576 shares during the last quarter. Connective Capital Management LLC raised its holdings in Broadcom by 80.6% in the second quarter. Connective Capital Management LLC now owns 23,283 shares of the semiconductor manufacturer’s stock worth $6,418,000 after purchasing an additional 10,391 shares during the period. RiverPark Advisors LLC boosted its position in shares of Broadcom by 47.3% during the second quarter. RiverPark Advisors LLC now owns 417 shares of the semiconductor manufacturer’s stock worth $115,000 after purchasing an additional 134 shares in the last quarter. Northwest & Ethical Investments L.P. grew its holdings in shares of Broadcom by 1.4% in the 2nd quarter. Northwest & Ethical Investments L.P. now owns 227,386 shares of the semiconductor manufacturer’s stock valued at $62,612,000 after buying an additional 3,248 shares during the period. Finally, MIG Capital LLC increased its position in shares of Broadcom by 212.5% in the 2nd quarter. MIG Capital LLC now owns 11,533 shares of the semiconductor manufacturer’s stock valued at $3,179,000 after buying an additional 7,843 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

Broadcom Trading Up 3.3%

NASDAQ AVGO opened at $397.57 on Thursday. Broadcom Inc. has a 52 week low of $138.10 and a 52 week high of $399.87. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50. The stock’s 50 day moving average price is $349.96 and its two-hundred day moving average price is $304.36. The stock has a market capitalization of $1.88 trillion, a price-to-earnings ratio of 101.42, a PEG ratio of 1.31 and a beta of 1.19.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.03. The company had revenue of $15.95 billion for the quarter, compared to the consensus estimate of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The firm’s revenue was up 22.0% compared to the same quarter last year. During the same period last year, the company earned $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. As a group, 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. 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 presently 60.20%.

Analyst Ratings Changes

AVGO has been the topic of several research analyst reports. Barclays set a $450.00 price objective on Broadcom and gave the stock an “overweight” rating in a research note on Tuesday, October 14th. Raymond James Financial set a $420.00 price objective on Broadcom and gave the company an “outperform” rating in a report on Thursday, November 20th. Weiss Ratings upgraded Broadcom from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday. Evercore ISI raised their target price on shares of Broadcom from $342.00 to $403.00 and gave the stock an “outperform” rating in a report on Wednesday, October 15th. Finally, Mizuho set a $435.00 price target on shares of Broadcom and gave the company an “outperform” rating in a report on Tuesday, October 21st. Three analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $377.61.

Insider Activity

In related news, Director Henry Samueli sold 368,797 shares of Broadcom stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $337.91, for a total value of $124,620,194.27. Following the sale, the director owned 37,722,534 shares of the company’s stock, valued at approximately $12,746,821,463.94. The trade was a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Hock E. Tan sold 100,000 shares of the company’s stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $339.58, for a total value of $33,958,000.00. Following the sale, the chief executive officer owned 725,638 shares in the company, valued at $246,412,152.04. The trade was a 12.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders purchased 3,550 shares of company stock worth $1,227,869 and sold 665,271 shares worth $225,483,192. Corporate insiders own 2.00% of the company’s stock.

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.