Broadcom Inc. (NASDAQ:AVGO) Stake Boosted by Clarus Wealth Advisors

Clarus Wealth Advisors increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 37.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,791 shares of the semiconductor manufacturer’s stock after acquiring an additional 485 shares during the period. Clarus Wealth Advisors’ holdings in Broadcom were worth $403,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of AVGO. Meridian Financial Partners LLC raised its position in Broadcom by 2.4% during the fourth quarter. Meridian Financial Partners LLC now owns 7,280 shares of the semiconductor manufacturer’s stock valued at $1,688,000 after acquiring an additional 168 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Broadcom by 33.8% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 26,364 shares of the semiconductor manufacturer’s stock worth $6,112,000 after purchasing an additional 6,667 shares during the last quarter. Park Avenue Securities LLC raised its holdings in shares of Broadcom by 15.0% during the 4th quarter. Park Avenue Securities LLC now owns 150,308 shares of the semiconductor manufacturer’s stock valued at $34,847,000 after purchasing an additional 19,582 shares in the last quarter. Kathmere Capital Management LLC lifted its stake in shares of Broadcom by 19.6% in the 4th quarter. Kathmere Capital Management LLC now owns 8,790 shares of the semiconductor manufacturer’s stock valued at $2,038,000 after purchasing an additional 1,440 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Broadcom by 768.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,187,793 shares of the semiconductor manufacturer’s stock worth $275,378,000 after purchasing an additional 1,050,951 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Performance

NASDAQ:AVGO opened at $228.00 on Thursday. The firm has a market capitalization of $1.07 trillion, a PE ratio of 198.09, a price-to-earnings-growth ratio of 2.15 and a beta of 1.03. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. Broadcom Inc. has a 12-month low of $109.02 and a 12-month high of $251.88. The firm has a 50-day moving average price of $199.05 and a 200 day moving average price of $176.63.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. The business had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. Broadcom’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.98 EPS. Research analysts anticipate that Broadcom Inc. will post 3.79 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.04%. The ex-dividend date was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is currently 191.87%.

Wall Street Analyst Weigh In

AVGO has been the topic of several recent research reports. Rosenblatt Securities restated a “buy” rating and set a $240.00 target price on shares of Broadcom in a report on Wednesday, December 11th. Mizuho boosted their target price on Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. TD Cowen increased their price target on Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. Citigroup lifted their price target on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, Robert W. Baird raised their target price on shares of Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and a consensus target price of $223.54.

Insider Transactions at Broadcom

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of the business’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the transaction, the director now directly owns 46,400 shares in the company, valued at $10,655,296. The trade was a 7.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Harry L. You sold 6,540 shares of the company’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the sale, the director now directly owns 30,450 shares in the company, valued at $7,308,000. This represents a 17.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is owned by insiders.

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.