24,400 Shares in Broadcom Inc. (NASDAQ:AVGO) Acquired by Clear Street Derivatives LLC

Clear Street Derivatives LLC bought a new stake in Broadcom Inc. (NASDAQ:AVGO) during the third quarter, Holdings Channel.com reports. The firm bought 24,400 shares of the semiconductor manufacturer’s stock, valued at approximately $4,209,000. Broadcom makes up about 0.1% of Clear Street Derivatives LLC’s holdings, making the stock its 17th biggest holding.

Several other hedge funds and other institutional investors also recently modified their holdings of AVGO. Burns Matteson Capital Management LLC acquired a new position in Broadcom during the 2nd quarter valued at about $233,000. First Bank & Trust boosted its position in shares of Broadcom by 21.7% during the second quarter. First Bank & Trust now owns 258 shares of the semiconductor manufacturer’s stock worth $414,000 after buying an additional 46 shares during the period. Baker Ellis Asset Management LLC raised its stake in Broadcom by 3.6% during the 2nd quarter. Baker Ellis Asset Management LLC now owns 4,353 shares of the semiconductor manufacturer’s stock valued at $6,989,000 after acquiring an additional 151 shares in the last quarter. Wealth Group Ltd boosted its position in Broadcom by 6.0% during the 2nd quarter. Wealth Group Ltd now owns 176 shares of the semiconductor manufacturer’s stock worth $283,000 after acquiring an additional 10 shares during the period. Finally, Olistico Wealth LLC grew its stake in shares of Broadcom by 11.0% in the second quarter. Olistico Wealth LLC now owns 1,126 shares of the semiconductor manufacturer’s stock worth $1,808,000 after purchasing an additional 112 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insiders Place Their Bets

In other Broadcom news, insider Mark David Brazeal sold 18,900 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total value of $3,456,432.00. Following the transaction, the insider now owns 380,560 shares in the company, valued at $69,596,812.80. The trade was a 4.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Charlie B. Kawwas sold 15,950 shares of Broadcom stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $181.44, for a total value of $2,893,968.00. Following the sale, the insider now owns 737,330 shares of the company’s stock, valued at approximately $133,781,155.20. This represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock worth $53,540,590 in the last quarter. 2.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AVGO. Cantor Fitzgerald lifted their price objective on shares of Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Mizuho boosted their price target on shares of Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Benchmark reiterated a “buy” rating and issued a $210.00 price objective on shares of Broadcom in a report on Friday, September 6th. Truist Financial boosted their target price on Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Finally, TD Cowen upgraded Broadcom to a “strong-buy” rating in a research report on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $195.96.

Broadcom Stock Performance

Shares of Broadcom stock opened at $162.08 on Monday. Broadcom Inc. has a 12 month low of $90.31 and a 12 month high of $186.42. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. The stock has a market cap of $757.01 billion, a PE ratio of 140.94, a price-to-earnings-growth ratio of 1.91 and a beta of 1.17. The business has a fifty day simple moving average of $173.39 and a 200-day simple moving average of $161.69.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (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 firm had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. During the same period in the prior year, the business earned $0.95 EPS. The business’s revenue for the quarter was up 47.3% on a year-over-year basis. On average, sell-side analysts anticipate that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend was Thursday, September 19th. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is currently 184.35%.

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.