Claro Advisors Inc. Decreases Stake in Broadcom Inc. $AVGO

Claro Advisors Inc. lowered its stake in Broadcom Inc. (NASDAQ:AVGO) by 7.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 25,318 shares of the semiconductor manufacturer’s stock after selling 1,950 shares during the period. Broadcom makes up 1.2% of Claro Advisors Inc.’s investment portfolio, making the stock its 19th largest position. Claro Advisors Inc.’s holdings in Broadcom were worth $8,763,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. ROSS JOHNSON & Associates LLC raised its holdings in shares of Broadcom by 1,320.0% in the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 66 shares during the last quarter. SWAN Capital LLC raised its holdings in shares of Broadcom by 261.9% during the fourth quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 55 shares during the last quarter. Miller Global Investments LLC purchased a new position in shares of Broadcom during the fourth quarter worth $31,000. Nvest Wealth Strategies Inc. purchased a new position in shares of Broadcom during the fourth quarter worth $33,000. Finally, Family CFO Inc purchased a new position in shares of Broadcom during the fourth quarter worth $35,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: JPMorgan reiterated a bullish stance on Broadcom, saying the market may be underestimating its long-term AI opportunity and calling the shares attractive at current levels. Barrons article
• Positive Sentiment: Other coverage highlighted Broadcom’s “massive AI pipeline” and the company’s growing role in AI infrastructure, reinforcing expectations for multi-year revenue growth. Benzinga article
• Positive Sentiment: Broadcom announced pricing terms for cash tender offers to repurchase portions of its outstanding debt, a move that can support balance-sheet management and financial flexibility. PR Newswire article
• Neutral Sentiment: Commentary on Broadcom’s latest quarter noted strong AI-chip demand and revenue growth, but also pointed to gross margin pressure and cautious guidance, which may be keeping some investors from getting more aggressive. Zacks article
• Negative Sentiment: Some broader AI-stock commentary has compared today’s AI capex boom to the dot-com era, renewing valuation and cycle-risk concerns across the sector that could weigh on sentiment for AVGO. 247WallSt article

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Susquehanna reissued a “positive” rating and set a $490.00 target price (up from $450.00) on shares of Broadcom in a report on Thursday, May 28th. The Goldman Sachs Group reissued a “buy” rating and set a $525.00 target price on shares of Broadcom in a report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $515.00 target price (up from $430.00) on shares of Broadcom in a report on Thursday, June 4th. Seaport Research Partners reissued a “neutral” rating on shares of Broadcom in a report on Wednesday, April 8th. Finally, Morgan Stanley set a $502.00 target price on shares of Broadcom and gave the stock an “overweight” rating in a report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $490.13.

Insider Activity at Broadcom

In other news, Director Harry L. You bought 1,000 shares of Broadcom stock in a transaction on Thursday, June 11th. The shares were bought at an average cost of $373.57 per share, with a total value of $373,570.00. Following the completion of the purchase, the director directly owned 38,466 shares of the company’s stock, valued at approximately $14,369,743.62. This trade represents a 2.67% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Charlie B. Kawwas sold 10,000 shares of Broadcom stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $345.23, for a total transaction of $3,452,300.00. Following the transaction, the insider directly owned 787,184 shares in the company, valued at $271,759,532.32. This trade represents a 1.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 51,233 shares of company stock valued at $18,125,134 over the last ninety days. Corporate insiders own 1.90% of the company’s stock.

Broadcom Stock Up 4.3%

NASDAQ AVGO opened at $392.90 on Thursday. The business has a fifty day moving average price of $408.66 and a 200 day moving average price of $363.11. Broadcom Inc. has a one year low of $244.17 and a one year high of $495.00. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24. The company has a market cap of $1.87 trillion, a P/E ratio of 65.48, a P/E/G ratio of 0.66 and a beta of 1.41.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.04. The firm had revenue of $22.19 billion for the quarter, compared to analyst estimates of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. Broadcom’s quarterly revenue was up 47.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.58 earnings per share. Research analysts anticipate that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $2.60 dividend on an annualized basis and a yield of 0.7%. Broadcom’s payout ratio is 43.33%.

Broadcom Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.