Clarus Wealth Advisors Has $403,000 Holdings in Broadcom Inc. (NASDAQ:AVGO)

Clarus Wealth Advisors lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 37.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,791 shares of the semiconductor manufacturer’s stock after buying an additional 485 shares during the period. Clarus Wealth Advisors’ holdings in Broadcom were worth $403,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Central Pacific Bank Trust Division boosted its position in Broadcom by 21.5% in the 4th quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer’s stock valued at $4,858,000 after buying an additional 3,707 shares during the last quarter. AXA S.A. lifted its stake in shares of Broadcom by 2.7% during the second quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer’s stock valued at $467,334,000 after acquiring an additional 7,608 shares during the period. Strait & Sound Wealth Management LLC boosted its holdings in Broadcom by 829.8% in the third quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer’s stock valued at $1,371,000 after acquiring an additional 7,095 shares during the last quarter. Catalyst Financial Partners LLC increased its position in Broadcom by 943.3% in the third quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer’s stock worth $3,473,000 after purchasing an additional 18,206 shares during the period. Finally, Whittier Trust Co. raised its holdings in Broadcom by 947.2% during the 3rd quarter. Whittier Trust Co. now owns 689,858 shares of the semiconductor manufacturer’s stock worth $119,000,000 after purchasing an additional 623,983 shares during the last quarter. 76.43% of the stock is owned by institutional investors.

Insider Activity at Broadcom

In related news, insider Mark David Brazeal sold 20,168 shares of the stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the completion of the transaction, the insider now directly owns 321,660 shares of the company’s stock, valued at approximately $76,809,191.40. This represents a 5.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Harry L. You sold 6,540 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total value of $1,569,600.00. Following the transaction, the director now directly owns 30,450 shares in the company, valued at $7,308,000. This trade represents a 17.68 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 191,278 shares of company stock valued at $44,964,800. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

AVGO opened at $228.00 on Thursday. The company has a market capitalization of $1.07 trillion, a price-to-earnings ratio of 198.09, a P/E/G ratio of 2.15 and a beta of 1.03. The business’s 50-day moving average price is $199.05 and its two-hundred day moving average price is $176.63. Broadcom Inc. has a 1 year low of $109.02 and a 1 year high of $251.88. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same quarter last year, the firm earned $0.98 EPS. Broadcom’s revenue for the quarter was up 51.2% compared to the same quarter last year. Equities analysts expect that Broadcom Inc. will post 3.79 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were issued a dividend of $0.59 per share. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 annualized dividend and a yield of 1.04%. Broadcom’s dividend payout ratio is presently 191.87%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on AVGO shares. Hsbc Global Res raised shares of Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Mizuho lifted their target price on shares of Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Morgan Stanley upped their target price on shares of Broadcom from $233.00 to $265.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. Deutsche Bank Aktiengesellschaft raised their price target on Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Finally, Cantor Fitzgerald upped their price objective on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $223.54.

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.