Clarity Wealth Advisors LLC Boosts Position in Broadcom Inc. (NASDAQ:AVGO)

Clarity Wealth Advisors LLC raised its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 955.3% in the third quarter, HoldingsChannel reports. The firm owned 4,084 shares of the semiconductor manufacturer’s stock after acquiring an additional 3,697 shares during the period. Clarity Wealth Advisors LLC’s holdings in Broadcom were worth $704,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in AVGO. Lion Street Advisors LLC lifted its position in Broadcom by 1.9% during the 2nd quarter. Lion Street Advisors LLC now owns 324 shares of the semiconductor manufacturer’s stock worth $520,000 after acquiring an additional 6 shares during the period. Buckley Wealth Management LLC increased its position in shares of Broadcom by 0.7% in the first quarter. Buckley Wealth Management LLC now owns 1,153 shares of the semiconductor manufacturer’s stock valued at $1,529,000 after buying an additional 8 shares in the last quarter. Legend Financial Advisors Inc. raised its stake in shares of Broadcom by 72.7% during the 1st quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 8 shares during the period. Ascent Wealth Partners LLC lifted its position in shares of Broadcom by 0.3% during the 1st quarter. Ascent Wealth Partners LLC now owns 2,964 shares of the semiconductor manufacturer’s stock valued at $3,929,000 after buying an additional 8 shares in the last quarter. Finally, O Dell Group LLC grew its stake in Broadcom by 2.3% in the 1st quarter. O Dell Group LLC now owns 356 shares of the semiconductor manufacturer’s stock valued at $472,000 after acquiring an additional 8 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AVGO has been the topic of several recent analyst reports. Benchmark reaffirmed a “buy” rating and set a $210.00 price objective on shares of Broadcom in a report on Friday, September 6th. 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. Oppenheimer cut their price objective on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a research note on Tuesday, July 16th. The Goldman Sachs Group raised their target price on Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Finally, Cantor Fitzgerald boosted their price target on shares of Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Two 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 company’s stock. Based on data from MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and a consensus target price of $191.54.

Broadcom Stock Down 0.9 %

Broadcom stock opened at $179.89 on Monday. Broadcom Inc. has a fifty-two week low of $81.83 and a fifty-two week high of $186.42. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The firm has a 50 day moving average price of $166.52 and a 200 day moving average price of $153.25. The company has a market capitalization of $837.37 billion, a PE ratio of 7.74, a price-to-earnings-growth ratio of 2.99 and a beta of 1.17.

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

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were issued a dividend of $0.53 per share. The ex-dividend date was Thursday, September 19th. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a yield of 1.18%. Broadcom’s dividend payout ratio is 9.12%.

Insider Activity

In other Broadcom news, Director Gayla J. Delly sold 750 shares of the stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total value of $130,897.50. Following the sale, the director now directly owns 34,750 shares of the company’s stock, valued at approximately $6,064,917.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Broadcom news, insider Charlie B. Kawwas sold 25,200 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $168.27, for a total value of $4,240,404.00. Following the completion of the transaction, the insider now owns 753,280 shares in the company, valued at $126,754,425.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Gayla J. Delly sold 750 shares of the firm’s 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 transaction, the director now directly owns 34,750 shares in the company, valued at approximately $6,064,917.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 311,080 shares of company stock worth $53,540,590. Corporate insiders own 2.00% of the company’s stock.

Broadcom 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.