Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Clearstead Trust LLC

Clearstead Trust LLC raised its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 37,858 shares of the semiconductor manufacturer’s stock after purchasing an additional 360 shares during the quarter. Broadcom comprises 1.9% of Clearstead Trust LLC’s portfolio, making the stock its 10th largest position. Clearstead Trust LLC’s holdings in Broadcom were worth $8,777,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the business. Copperwynd Financial LLC grew its stake in Broadcom by 5.7% during the fourth quarter. Copperwynd Financial LLC now owns 18,351 shares of the semiconductor manufacturer’s stock worth $4,255,000 after buying an additional 995 shares during the period. Rareview Capital LLC purchased a new stake in Broadcom during the fourth quarter worth approximately $377,000. Greykasell Wealth Strategies Inc. purchased a new stake in Broadcom during the fourth quarter worth approximately $1,799,000. Catalyst Funds Management Pty Ltd grew its stake in Broadcom by 273,650.0% during the fourth quarter. Catalyst Funds Management Pty Ltd now owns 153,300 shares of the semiconductor manufacturer’s stock worth $35,541,000 after buying an additional 153,244 shares during the period. Finally, Maiden Cove Capital LLC grew its stake in Broadcom by 1.8% during the fourth quarter. Maiden Cove Capital LLC now owns 3,370 shares of the semiconductor manufacturer’s stock worth $781,000 after buying an additional 60 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Broadcom news, insider Mark David Brazeal sold 20,168 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 321,660 shares of the company’s stock, valued at approximately $76,809,191.40. The trade was a 5.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Charlie B. Kawwas sold 40,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total value of $9,279,200.00. Following the transaction, the insider now owns 696,730 shares of the company’s stock, valued at $161,627,425.40. The trade was a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock worth $44,964,800 over the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Shares of AVGO opened at $195.54 on Friday. Broadcom Inc. has a twelve month low of $119.76 and a twelve month high of $251.88. The firm has a market cap of $919.42 billion, a PE ratio of 159.50, a PEG ratio of 2.29 and a beta of 1.01. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The firm’s 50 day moving average price is $218.12 and its 200 day moving average price is $193.68.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The business had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter last year, the company posted $0.98 earnings per share. Broadcom’s quarterly revenue was up 51.2% on a year-over-year basis. As a group, research analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.21%. Broadcom’s dividend payout ratio is currently 113.46%.

Analysts Set New Price Targets

Several research firms have issued reports on AVGO. Benchmark reiterated a “buy” rating and set a $255.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Barclays upped their target price on shares of Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Citigroup upped their target price on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Morgan Stanley upped their target price on shares of Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. Finally, Piper Sandler upped their target price on shares of Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $231.48.

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.