Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Garrison Asset Management LLC

Garrison Asset Management LLC increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 795.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,164 shares of the semiconductor manufacturer's stock after purchasing an additional 54,336 shares during the period. Broadcom accounts for about 5.4% of Garrison Asset Management LLC's holdings, making the stock its biggest position. Garrison Asset Management LLC's holdings in Broadcom were worth $10,551,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently modified their holdings of AVGO. Castleview Partners LLC raised its holdings in Broadcom by 1,030.8% in the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer's stock valued at $25,000 after acquiring an additional 134 shares during the last quarter. Delta Asset Management LLC TN raised its holdings in Broadcom by 242.9% in the 1st quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer's stock valued at $32,000 after acquiring an additional 17 shares during the last quarter. Tsfg LLC raised its holdings in Broadcom by 1,073.7% in the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer's stock valued at $38,000 after acquiring an additional 204 shares during the last quarter. Krane Funds Advisors LLC acquired a new position in Broadcom in the 3rd quarter valued at $42,000. Finally, Highline Wealth Partners LLC acquired a new stake in shares of Broadcom during the 3rd quarter worth $45,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Morgan Stanley raised their price objective on Broadcom from $176.00 to $180.00 and gave the stock an "overweight" rating in a report on Friday, September 6th. TD Cowen upgraded Broadcom to a "strong-buy" rating in a report on Monday, September 16th. Rosenblatt Securities dropped their price objective on Broadcom from $2,400.00 to $240.00 and set a "buy" rating on the stock in a report on Friday, September 6th. StockNews.com downgraded Broadcom from a "buy" rating to a "hold" rating in a report on Tuesday, July 23rd. Finally, William Blair initiated coverage on Broadcom in a report on Wednesday, September 18th. They set an "outperform" rating on the stock. Two research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $192.79.

Insider Buying and Selling at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the business's stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total value of $8,168,500.00. Following the transaction, the chief executive officer now owns 1,331,910 shares in the company, valued at $217,594,136.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Mark David Brazeal sold 18,900 shares of the company's stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the completion of the sale, the insider now owns 380,560 shares in the company, valued at approximately $69,596,812.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of the company's stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total value of $8,168,500.00. Following the sale, the chief executive officer now owns 1,331,910 shares of the company's stock, valued at approximately $217,594,136.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 311,080 shares of company stock worth $53,540,590 over the last 90 days. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Stock Up 2.4 %

NASDAQ:AVGO traded up $4.26 during trading hours on Thursday, hitting $183.81. 18,939,495 shares of the company's stock traded hands, compared to its average volume of 19,348,566. The firm has a market cap of $858.50 billion, a P/E ratio of 159.70, a P/E/G ratio of 1.99 and a beta of 1.17. Broadcom Inc. has a twelve month low of $89.90 and a twelve month high of $186.42. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The stock's fifty day moving average price is $169.80 and its two-hundred day moving average price is $156.94.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. During the same period in the previous year, the firm earned $0.95 earnings per share. Broadcom's quarterly revenue was up 47.3% on a year-over-year basis. On average, research analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were paid a $0.53 dividend. The ex-dividend date was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a yield of 1.15%. This is an increase from Broadcom's previous quarterly dividend of $0.53. Broadcom's payout ratio is 184.19%.

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.