Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Clarius Group LLC

Clarius Group LLC raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 875.2% during the 3rd quarter, Holdings Channel reports. The fund owned 29,306 shares of the semiconductor manufacturer’s stock after purchasing an additional 26,301 shares during the period. Clarius Group LLC’s holdings in Broadcom were worth $5,045,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in AVGO. Handelsbanken Fonder AB lifted its stake in Broadcom by 826.3% during the third quarter. Handelsbanken Fonder AB now owns 2,963,813 shares of the semiconductor manufacturer’s stock valued at $511,258,000 after buying an additional 2,643,845 shares in the last quarter. Swedbank AB acquired a new stake in shares of Broadcom during the first quarter valued at approximately $2,835,737,000. Vanguard Group Inc. lifted its position in shares of Broadcom by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 44,651,273 shares of the semiconductor manufacturer’s stock valued at $59,181,244,000 after acquiring an additional 1,303,462 shares in the last quarter. Jennison Associates LLC boosted its stake in Broadcom by 43.9% in the 1st quarter. Jennison Associates LLC now owns 4,141,025 shares of the semiconductor manufacturer’s stock worth $5,488,556,000 after purchasing an additional 1,263,957 shares during the period. Finally, GQG Partners LLC grew its position in Broadcom by 48.9% during the 1st quarter. GQG Partners LLC now owns 2,992,833 shares of the semiconductor manufacturer’s stock worth $3,966,730,000 after purchasing an additional 983,328 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AVGO has been the subject of several recent analyst reports. Oppenheimer decreased their target price on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a research report on Tuesday, July 16th. Mizuho increased their target price on shares of Broadcom from $162.50 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, June 13th. Truist Financial lifted their price target on shares of Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday. William Blair started coverage on shares of Broadcom in a report on Wednesday, September 18th. They set an “outperform” rating for the company. Finally, Rosenblatt Securities dropped their target price on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a report on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and a consensus target price of $190.29.

Insider Activity

In related news, insider Mark David Brazeal sold 20,280 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $177.10, for a total value of $3,591,588.00. Following the transaction, the insider now owns 399,460 shares of the company’s stock, valued at $70,744,366. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Broadcom news, insider Mark David Brazeal sold 20,280 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $177.10, for a total value of $3,591,588.00. Following the sale, the insider now directly owns 399,460 shares of the company’s stock, valued at approximately $70,744,366. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gayla J. Delly sold 750 shares of Broadcom stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total value of $130,897.50. Following the completion of the sale, the director now owns 34,750 shares in the company, valued at approximately $6,064,917.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 276,230 shares of company stock valued at $47,190,190. 2.00% of the stock is currently owned by insiders.

Broadcom Price Performance

AVGO stock opened at $179.76 on Friday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. Broadcom Inc. has a 52 week low of $81.83 and a 52 week high of $186.42. The firm has a market cap of $839.58 billion, a P/E ratio of 161.33, a P/E/G ratio of 2.99 and a beta of 1.17. The firm’s fifty day moving average is $162.16 and its 200 day moving average is $151.32.

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

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 annualized dividend and a yield of 1.18%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is 184.19%.

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.