Narwhal Capital Management Sells 3,335 Shares of Broadcom Inc. $AVGO

Narwhal Capital Management reduced its stake in Broadcom Inc. (NASDAQ:AVGO) by 5.4% during the second quarter, according to its most recent filing with the SEC. The fund owned 57,998 shares of the semiconductor manufacturer’s stock after selling 3,335 shares during the quarter. Broadcom accounts for approximately 1.3% of Narwhal Capital Management’s portfolio, making the stock its 18th largest holding. Narwhal Capital Management’s holdings in Broadcom were worth $15,987,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. PARUS FINANCE UK Ltd lifted its holdings in Broadcom by 175.3% during the first quarter. PARUS FINANCE UK Ltd now owns 100,578 shares of the semiconductor manufacturer’s stock valued at $16,840,000 after purchasing an additional 64,038 shares during the last quarter. Geneos Wealth Management Inc. increased its position in shares of Broadcom by 27.9% in the first quarter. Geneos Wealth Management Inc. now owns 64,130 shares of the semiconductor manufacturer’s stock worth $10,737,000 after purchasing an additional 13,978 shares during the last quarter. Asio Capital LLC increased its position in shares of Broadcom by 2.0% in the second quarter. Asio Capital LLC now owns 54,459 shares of the semiconductor manufacturer’s stock worth $15,012,000 after purchasing an additional 1,089 shares during the last quarter. Keener Financial Planning LLC increased its position in shares of Broadcom by 34.8% in the first quarter. Keener Financial Planning LLC now owns 890 shares of the semiconductor manufacturer’s stock worth $149,000 after purchasing an additional 230 shares during the last quarter. Finally, Diversify Wealth Management LLC grew its position in Broadcom by 5.6% during the first quarter. Diversify Wealth Management LLC now owns 38,016 shares of the semiconductor manufacturer’s stock valued at $6,365,000 after acquiring an additional 2,016 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other 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 transaction of $124,620,194.27. Following the transaction, the director directly owned 37,722,534 shares of the company’s stock, valued at $12,746,821,463.94. The trade was a 0.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Charlie B. Kawwas sold 3,893 shares of Broadcom stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $347.82, for a total value of $1,354,063.26. Following the transaction, the insider directly owned 25,295 shares in the company, valued at approximately $8,798,106.90. The trade was a 13.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders bought 3,550 shares of company stock worth $1,227,869 and sold 664,471 shares worth $225,184,128. Corporate insiders own 2.00% of the company’s stock.

Broadcom Price Performance

NASDAQ AVGO opened at $356.70 on Tuesday. Broadcom Inc. has a one year low of $138.10 and a one year high of $374.23. The stock has a 50-day moving average of $323.82 and a 200 day moving average of $264.90. The company has a market capitalization of $1.68 trillion, a price-to-earnings ratio of 90.99, a PEG ratio of 1.80 and a beta of 1.20. 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 released its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, topping the consensus estimate of $1.66 by $0.03. The company had revenue of $15.95 billion during the quarter, compared to the consensus estimate of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.Broadcom’s revenue for the quarter was up 22.0% on a year-over-year basis. During the same period last year, the company earned $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. On average, sell-side analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Monday, September 22nd. Broadcom’s payout ratio is currently 60.20%.

Analysts Set New Price Targets

AVGO has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft increased their price target on shares of Broadcom from $300.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, September 5th. Benchmark increased their price objective on Broadcom from $315.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, September 5th. Macquarie assumed coverage on Broadcom in a research note on Monday, September 15th. They issued an “outperform” rating and a $420.00 price target for the company. Hsbc Global Res raised Broadcom from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 24th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $340.00 price objective on shares of Broadcom in a research report on Wednesday, August 13th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Broadcom currently has a consensus rating of “Buy” and an average target price of $359.44.

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.