Clarus Group Inc. Has $1.39 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Clarus Group Inc. increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 1,376.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,045 shares of the semiconductor manufacturer’s stock after acquiring an additional 7,500 shares during the quarter. Broadcom comprises about 0.6% of Clarus Group Inc.’s investment portfolio, making the stock its 24th largest position. Clarus Group Inc.’s holdings in Broadcom were worth $1,388,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Sound Income Strategies LLC lifted its stake in Broadcom by 193.8% in the first quarter. Sound Income Strategies LLC now owns 141 shares of the semiconductor manufacturer’s stock valued at $186,000 after buying an additional 93 shares during the period. Sunbelt Securities Inc. lifted its stake in Broadcom by 43.4% in the first quarter. Sunbelt Securities Inc. now owns 6,929 shares of the semiconductor manufacturer’s stock valued at $9,184,000 after buying an additional 2,098 shares during the period. RMR Wealth Builders lifted its stake in Broadcom by 7.8% in the first quarter. RMR Wealth Builders now owns 7,064 shares of the semiconductor manufacturer’s stock valued at $9,400,000 after buying an additional 514 shares during the period. Brookstone Capital Management lifted its stake in Broadcom by 7.6% in the first quarter. Brookstone Capital Management now owns 2,981 shares of the semiconductor manufacturer’s stock valued at $3,952,000 after buying an additional 211 shares during the period. Finally, Future Financial Wealth Managment LLC acquired a new position in Broadcom in the first quarter valued at about $206,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AVGO. Cantor Fitzgerald raised their price target on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Rosenblatt Securities dropped their price target on Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a research report on Friday, September 6th. Mizuho raised their price target on Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. The Goldman Sachs Group raised their price target on Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Finally, Morgan Stanley raised their price target on Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Two analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $191.54.

Broadcom Stock Down 0.3 %

AVGO stock opened at $179.38 on Wednesday. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $834.99 billion, a PE ratio of 7.72, a PEG ratio of 2.99 and a beta of 1.17. Broadcom Inc. has a 1-year low of $81.83 and a 1-year high of $186.42. The business’s 50 day simple moving average is $167.61 and its 200 day simple moving average is $153.88.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.04. The business had revenue of $13.07 billion during 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%. The firm’s quarterly revenue was up 47.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.95 EPS. As a group, research analysts anticipate that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The company 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. The ex-dividend date was Thursday, September 19th. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a yield of 1.18%. Broadcom’s payout ratio is 9.12%.

Insider Activity at Broadcom

In other news, insider Mark David Brazeal sold 20,280 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the completion of the sale, the insider now directly owns 399,460 shares in the company, valued at approximately $70,744,366. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Hock E. Tan sold 50,000 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 owns 399,460 shares of the company’s stock, valued at approximately $70,744,366. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 311,080 shares of company stock worth $53,540,590 in the last ninety days. 2.00% of the stock is owned by company 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.