11,976 Shares in Broadcom Inc. (NASDAQ:AVGO) Acquired by Clarendon Private LLC

Clarendon Private LLC acquired a new position in Broadcom Inc. (NASDAQ:AVGO - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,976 shares of the semiconductor manufacturer's stock, valued at approximately $2,777,000. Broadcom comprises approximately 2.9% of Clarendon Private LLC's holdings, making the stock its 8th largest position.

A number of other institutional investors have also recently added to or reduced their stakes in AVGO. State Street Corp lifted its holdings in Broadcom by 948.5% in the 3rd quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer's stock worth $31,814,902,000 after purchasing an additional 166,844,263 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Broadcom by 976.6% in the third quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer's stock valued at $17,055,760,000 after purchasing an additional 89,975,941 shares during the period. FMR LLC lifted its stake in shares of Broadcom by 1,121.3% in the third quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer's stock worth $15,594,088,000 after buying an additional 82,998,328 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of Broadcom by 842.4% during the 3rd quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer's stock worth $6,209,758,000 after buying an additional 32,178,542 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Broadcom by 975.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer's stock valued at $5,833,894,000 after buying an additional 30,674,902 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Benchmark reissued a "buy" rating and set a $255.00 target price (up previously from $210.00) on shares of Broadcom in a research report on Friday, December 13th. Citigroup boosted their price objective on Broadcom from $175.00 to $205.00 and gave the stock a "buy" rating in a research report on Tuesday, December 10th. Truist Financial raised their target price on Broadcom from $205.00 to $245.00 and gave the company a "buy" rating in a report on Friday, December 13th. Piper Sandler raised their price objective on shares of Broadcom from $200.00 to $250.00 and gave the stock an "overweight" rating in a research note on Friday, December 13th. Finally, Bank of America increased their price target on shares of Broadcom from $215.00 to $250.00 and gave the company a "buy" rating in a report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $225.04.

Insider Activity

In related news, Director Harry L. You sold 6,540 shares of the firm's stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total value of $1,569,600.00. Following the completion of the sale, the director now owns 30,450 shares of the company's stock, valued at $7,308,000. This trade represents a 17.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Check Kian Low sold 48,000 shares of the company's stock in a transaction on Monday, January 6th. The stock was sold at an average price of $235.35, for a total value of $11,296,800.00. Following the transaction, the director now directly owns 113,050 shares in the company, valued at approximately $26,606,317.50. This represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is owned by corporate insiders.

Broadcom Price Performance

Shares of Broadcom stock traded up $5.61 during mid-day trading on Friday, reaching $221.27. 41,097,327 shares of the stock were exchanged, compared to its average volume of 27,719,020. The company has a market cap of $1.04 trillion, a price-to-earnings ratio of 180.48, a price-to-earnings-growth ratio of 2.16 and a beta of 1.03. Broadcom Inc. has a fifty-two week low of $117.43 and a fifty-two week high of $251.88. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The firm has a 50-day simple moving average of $213.41 and a 200 day simple moving average of $181.93.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted 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. The company had revenue of $14.05 billion during the quarter, compared to analysts' expectations of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. Broadcom's quarterly revenue was up 51.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 earnings per share. On average, sell-side analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.07%. The ex-dividend date was Monday, December 23rd. This is a boost from Broadcom's previous quarterly dividend of $0.53. Broadcom's dividend payout ratio is presently 192.50%.

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.