Garner Asset Management Corp Sells 407 Shares of Broadcom Inc. (NASDAQ:AVGO)

Garner Asset Management Corp trimmed its holdings in Broadcom Inc. (NASDAQ:AVGOFree Report) by 18.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,742 shares of the semiconductor manufacturer’s stock after selling 407 shares during the quarter. Broadcom accounts for approximately 0.8% of Garner Asset Management Corp’s investment portfolio, making the stock its 25th biggest holding. Garner Asset Management Corp’s holdings in Broadcom were worth $1,945,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Capital International Investors increased its position in shares of Broadcom by 4.5% in the fourth quarter. Capital International Investors now owns 23,330,880 shares of the semiconductor manufacturer’s stock valued at $26,044,294,000 after acquiring an additional 1,006,223 shares during the period. Norges Bank purchased a new stake in shares of Broadcom during the fourth quarter valued at approximately $6,225,987,000. Northern Trust Corp grew its holdings in shares of Broadcom by 3.7% during the fourth quarter. Northern Trust Corp now owns 4,825,465 shares of the semiconductor manufacturer’s stock valued at $5,386,425,000 after buying an additional 170,063 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Broadcom by 43.9% in the third quarter. Wellington Management Group LLP now owns 4,025,658 shares of the semiconductor manufacturer’s stock worth $3,343,631,000 after purchasing an additional 1,228,755 shares during the last quarter. Finally, FMR LLC boosted its holdings in Broadcom by 16.7% in the third quarter. FMR LLC now owns 4,019,122 shares of the semiconductor manufacturer’s stock worth $3,338,203,000 after purchasing an additional 573,826 shares during the last quarter. 76.43% of the stock is owned by institutional investors.

Insider Transactions at Broadcom

In other news, Director Kenneth Hao sold 9,160 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the sale, the director now directly owns 45 shares of the company’s stock, valued at approximately $62,465.85. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Kenneth Hao sold 9,160 shares of Broadcom stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the completion of the sale, the director now directly owns 45 shares of the company’s stock, valued at approximately $62,465.85. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Mark David Brazeal sold 2,500 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $1,318.97, for a total transaction of $3,297,425.00. Following the completion of the sale, the insider now directly owns 46,974 shares of the company’s stock, valued at $61,957,296.78. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,770 shares of company stock valued at $36,242,096. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a research report on Monday, April 8th. Cantor Fitzgerald lifted their price objective on shares of Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a report on Monday, March 4th. Benchmark restated a “buy” rating and issued a $1,720.00 price target on shares of Broadcom in a report on Thursday, March 21st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $1,500.00 price objective on shares of Broadcom in a report on Thursday, March 21st. Finally, UBS Group upped their price objective on shares of Broadcom to $1,480.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and a consensus price target of $1,371.04.

Get Our Latest Stock Analysis on AVGO

Broadcom Trading Up 1.4 %

Shares of AVGO traded up $20.56 during mid-day trading on Tuesday, reaching $1,461.03. 3,475,038 shares of the company’s stock traded hands, compared to its average volume of 2,793,708. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. The stock has a market cap of $677.07 billion, a P/E ratio of 54.15, a P/E/G ratio of 2.81 and a beta of 1.17. The stock’s 50-day moving average is $1,339.88 and its two-hundred day moving average is $1,237.25. Broadcom Inc. has a 12 month low of $795.09 and a 12 month high of $1,465.01.

About Broadcom

(Free Report)

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.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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