Assetmark Inc. Boosts Stake in Broadcom Inc. $AVGO

Assetmark Inc. increased its position in Broadcom Inc. (NASDAQ:AVGO) by 2.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,703,487 shares of the semiconductor manufacturer’s stock after buying an additional 39,466 shares during the period. Broadcom accounts for about 1.1% of Assetmark Inc.’s investment portfolio, making the stock its 19th biggest position. Assetmark Inc.’s holdings in Broadcom were worth $469,566,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Cheviot Value Management LLC purchased a new stake in shares of Broadcom during the 1st quarter valued at about $25,000. Sawyer & Company Inc raised 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 valued at $26,000 after buying an additional 36 shares in the last quarter. Legend Financial Advisors Inc. purchased a new stake in shares of Broadcom during the 2nd quarter valued at about $28,000. Wood Tarver Financial Group LLC raised 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 valued at $30,000 after buying an additional 137 shares in the last quarter. Finally, LGT Financial Advisors LLC purchased a new stake in shares of Broadcom during the 2nd quarter valued at about $31,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Stock Performance

Shares of NASDAQ:AVGO opened at $362.55 on Tuesday. The firm has a market cap of $1.71 trillion, a PE ratio of 92.49, a price-to-earnings-growth ratio of 2.08 and a beta of 1.19. The firm’s 50 day simple moving average is $340.67 and its 200-day simple moving average is $285.47. Broadcom Inc. has a one year low of $138.10 and a one year high of $386.48. 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 (NASDAQ:AVGO) last issued its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.03. The business had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The company’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same period last year, the company posted $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. As a group, equities analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

The business also recently announced 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 of this dividend was Monday, September 22nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. Broadcom’s dividend payout ratio (DPR) is 60.20%.

Analysts Set New Price Targets

AVGO has been the topic of several recent research reports. KeyCorp set a $460.00 target price on shares of Broadcom in a research report on Monday, October 13th. Wells Fargo & Company increased their price objective on shares of Broadcom from $255.00 to $345.00 and gave the stock an “equal weight” rating in a research report on Friday, September 5th. Argus increased their price objective on shares of Broadcom from $285.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, September 8th. Wall Street Zen cut Broadcom from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Finally, Citigroup reaffirmed a “buy” rating and set a $415.00 target price (up previously from $350.00) on shares of Broadcom in a research note on Tuesday, October 14th. Three analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $372.52.

Insider Buying and Selling at Broadcom

In other news, insider Charlie B. Kawwas sold 3,893 shares of the firm’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $347.82, for a total transaction of $1,354,063.26. Following the transaction, the insider directly owned 25,295 shares of the company’s stock, valued at approximately $8,798,106.90. This trade represents a 13.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction, the chief financial officer owned 313,330 shares in the company, valued at approximately $108,932,307.80. This represents a 2.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders bought 3,550 shares of company stock valued at $1,227,869 and sold 665,271 shares valued at $225,464,248. 2.00% of the stock is owned by insiders.

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.