Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Clarus Group Inc.

Clarus Group Inc. raised its position in Broadcom Inc. (NASDAQ:AVGO) by 4.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 383 shares of the semiconductor manufacturer’s stock after purchasing an additional 16 shares during the period. Clarus Group Inc.’s holdings in Broadcom were worth $428,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Cantor Fitzgerald Investment Advisor L.P boosted its stake in shares of Broadcom by 94.4% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 75,090 shares of the semiconductor manufacturer’s stock valued at $47,283,000 after acquiring an additional 36,458 shares during the last quarter. Fairfield Bush & CO. boosted its stake in shares of Broadcom by 2.6% during the first quarter. Fairfield Bush & CO. now owns 4,945 shares of the semiconductor manufacturer’s stock valued at $3,114,000 after acquiring an additional 123 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Broadcom by 20.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 509,603 shares of the semiconductor manufacturer’s stock worth $320,887,000 after buying an additional 87,945 shares during the last quarter. Loomis Sayles & Co. L P boosted its stake in Broadcom by 1.1% in the 1st quarter. Loomis Sayles & Co. L P now owns 40,357 shares of the semiconductor manufacturer’s stock worth $25,412,000 after buying an additional 420 shares during the last quarter. Finally, Ergoteles LLC acquired a new stake in Broadcom in the 1st quarter worth about $1,095,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Up 4.5 %

Shares of NASDAQ:AVGO traded up $60.09 during mid-day trading on Thursday, hitting $1,382.46. 3,169,687 shares of the company traded hands, compared to its average volume of 2,986,388. The firm has a market cap of $640.66 billion, a P/E ratio of 50.48, a PEG ratio of 2.85 and a beta of 1.25. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. Broadcom Inc. has a 52-week low of $601.29 and a 52-week high of $1,438.17. The firm’s 50 day simple moving average is $1,296.97 and its 200 day simple moving average is $1,097.57.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The company had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. During the same period in the previous year, the business earned $9.83 EPS. Broadcom’s revenue for the quarter was up 34.2% compared to the same quarter last year. On average, equities analysts anticipate that Broadcom Inc. will post 36.31 EPS for the current year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were given a $5.25 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 annualized dividend and a dividend yield of 1.52%. Broadcom’s payout ratio is 77.84%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Susquehanna raised their price target on Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a research note on Wednesday, February 28th. The Goldman Sachs Group reissued a “buy” rating and issued a $1,325.00 price target on shares of Broadcom in a research note on Friday, January 19th. Cantor Fitzgerald raised their price target on Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a research note on Monday, March 4th. Mizuho raised their price target on Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Finally, Oppenheimer reissued an “outperform” rating and issued a $1,500.00 price target (up from $1,100.00) on shares of Broadcom in a research note on Friday, March 1st. Three research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat, Broadcom has an average rating of “Moderate Buy” and an average target price of $1,255.18.

Insider Transactions at Broadcom

In related news, Director Eddy W. Hartenstein sold 3,150 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the completion of the transaction, the director now owns 4,643 shares in the company, valued at approximately $5,991,048.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the completion of the transaction, the director now owns 4,643 shares in the company, valued at approximately $5,991,048.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kenneth Hao sold 9,160 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the transaction, the director now owns 45 shares of the company’s stock, valued at approximately $62,465.85. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,310 shares of company stock worth $36,869,987. 2.00% of the stock is currently owned by corporate 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.