Claro Advisors LLC Has $7.91 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

Claro Advisors LLC raised its stake in Broadcom Inc. (NASDAQ:AVGO) by 1,046.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 45,870 shares of the semiconductor manufacturer’s stock after acquiring an additional 41,868 shares during the period. Broadcom comprises about 1.0% of Claro Advisors LLC’s investment portfolio, making the stock its 17th largest position. Claro Advisors LLC’s holdings in Broadcom were worth $7,913,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Ritter Daniher Financial Advisory LLC DE boosted its stake in shares of Broadcom by 900.0% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 2,650 shares of the semiconductor manufacturer’s stock valued at $457,000 after purchasing an additional 2,385 shares in the last quarter. Cardano Risk Management B.V. grew its stake in Broadcom by 931.0% during the third quarter. Cardano Risk Management B.V. now owns 1,149,742 shares of the semiconductor manufacturer’s stock worth $198,330,000 after buying an additional 1,038,223 shares during the last quarter. Obsidian Personal Planning Solutions LLC increased its holdings in shares of Broadcom by 820.7% during the third quarter. Obsidian Personal Planning Solutions LLC now owns 1,289 shares of the semiconductor manufacturer’s stock worth $219,000 after buying an additional 1,149 shares in the last quarter. Alpha Family Trust raised its stake in shares of Broadcom by 900.0% in the third quarter. Alpha Family Trust now owns 26,550 shares of the semiconductor manufacturer’s stock valued at $4,580,000 after acquiring an additional 23,895 shares during the last quarter. Finally, Concord Asset Management LLC VA boosted its holdings in shares of Broadcom by 1,014.2% in the 3rd quarter. Concord Asset Management LLC VA now owns 44,235 shares of the semiconductor manufacturer’s stock worth $7,631,000 after acquiring an additional 40,265 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Trading Down 0.2 %

Shares of NASDAQ AVGO opened at $165.35 on Wednesday. Broadcom Inc. has a twelve month low of $90.31 and a twelve month high of $186.42. The stock has a market cap of $772.28 billion, a price-to-earnings ratio of 143.78, a P/E/G ratio of 1.94 and a beta of 1.17. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. The company’s fifty day moving average is $173.68 and its 200-day moving average is $159.82.

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

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date was Thursday, September 19th. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is 184.35%.

Insiders Place Their Bets

In other Broadcom news, insider Mark David Brazeal sold 18,900 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were 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 directly owns 380,560 shares in the company, valued at $69,596,812.80. This trade represents a 4.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Charlie B. Kawwas sold 25,200 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $168.27, for a total value of $4,240,404.00. Following the sale, the insider now owns 753,280 shares of the company’s stock, valued at approximately $126,754,425.60. This represents a 3.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock valued at $53,540,590 over the last ninety days. 2.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on AVGO shares. Mizuho raised their price target on Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, October 14th. William Blair started coverage on Broadcom in a report on Wednesday, September 18th. They issued an “outperform” rating for the company. Truist Financial upped their price target on shares of Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. StockNews.com cut shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Finally, Rosenblatt Securities decreased their price target on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a research note on Friday, September 6th. Two equities 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $192.79.

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.