18,345 Shares in Broadcom Inc. $AVGO Acquired by Clare Market Investments LLC

Key Points

• Clare Market Investments LLC opened a new position in Broadcom during the first quarter, buying 18,345 shares worth about $5.68 million. Broadcom now makes up 1.2% of the fund’s portfolio and is its 17th-largest holding.
• Broadcom’s latest earnings beat expectations, with $2.44 EPS versus $2.40 expected and revenue of $22.19 billion, up 47.9% from a year ago. The company also continues to pay a quarterly dividend of $0.65 per share.
• Insider activity was mixed to negative, as executives and directors sold shares in recent transactions, including a 25,000-share sale by Mark David Brazeal. Meanwhile, analysts remain largely bullish, with a consensus rating of Moderate Buy and an average price target of $493.24.

Clare Market Investments LLC acquired a new position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 18,345 shares of the semiconductor manufacturer's stock, valued at approximately $5,678,000. Broadcom accounts for 1.2% of Clare Market Investments LLC's investment portfolio, making the stock its 17th biggest position.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Fullerton Advisors LLC increased its stake in shares of Broadcom by 1.3% during the first quarter. Fullerton Advisors LLC now owns 1,989 shares of the semiconductor manufacturer's stock valued at $616,000 after buying an additional 25 shares during the period. NORTHSTAR ASSET MANAGEMENT Co raised its holdings in shares of Broadcom by 0.5% in the first quarter. NORTHSTAR ASSET MANAGEMENT Co now owns 5,350 shares of the semiconductor manufacturer's stock valued at $1,656,000 after acquiring an additional 25 shares in the last quarter. RFG Holdings Inc. lifted its stake in Broadcom by 0.3% in the first quarter. RFG Holdings Inc. now owns 8,499 shares of the semiconductor manufacturer's stock worth $2,631,000 after acquiring an additional 26 shares during the period. Baring Financial LLC lifted its stake in Broadcom by 2.2% in the fourth quarter. Baring Financial LLC now owns 1,359 shares of the semiconductor manufacturer's stock worth $470,000 after acquiring an additional 29 shares during the period. Finally, Five Oceans Advisors grew its holdings in Broadcom by 0.4% during the 4th quarter. Five Oceans Advisors now owns 8,191 shares of the semiconductor manufacturer's stock worth $2,835,000 after acquiring an additional 29 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Mark David Brazeal sold 25,000 shares of the company's stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $379.19, for a total transaction of $9,479,750.00. Following the transaction, the insider directly owned 219,989 shares of the company's stock, valued at $83,417,628.91. This represents a 10.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Gayla J. Delly sold 1,890 shares of the stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $385.38, for a total value of $728,368.20. Following the completion of the sale, the director owned 31,326 shares of the company's stock, valued at approximately $12,072,413.88. This trade represents a 5.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 36,644 shares of company stock worth $13,982,964 over the last quarter. Company insiders own 1.90% of the company's stock.

Broadcom Trading Down 0.3%

NASDAQ AVGO opened at $399.97 on Friday. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71. The firm has a market cap of $1.90 trillion, a PE ratio of 66.66, a price-to-earnings-growth ratio of 0.70 and a beta of 1.45. The company has a 50 day moving average price of $405.29 and a 200 day moving average price of $364.13. Broadcom Inc. has a 52 week low of $269.58 and a 52 week high of $495.00.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.04. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The company had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $22.13 billion. During the same period last year, the firm earned $1.58 earnings per share. Broadcom's revenue was up 47.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Monday, June 22nd. Broadcom's dividend payout ratio is currently 43.33%.

Analysts Set New Price Targets

AVGO has been the topic of a number of research reports. Benchmark raised their target price on shares of Broadcom from $485.00 to $545.00 and gave the company a "buy" rating in a research report on Thursday, June 4th. Dbs Bank raised shares of Broadcom to a "moderate buy" rating in a research report on Thursday, June 18th. Oppenheimer reiterated an "outperform" rating and set a $535.00 price objective (up from $450.00) on shares of Broadcom in a research note on Thursday, June 4th. Citigroup reissued a "buy" rating on shares of Broadcom in a report on Thursday, June 4th. Finally, Zacks Research downgraded shares of Broadcom from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $493.24.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s expanded Apple agreement, valued at more than $30 billion through 2031, strengthens visibility for revenue and highlights demand beyond AI chips. Why Broadcom Stock Rose Today
• Positive Sentiment: Analysts remain upbeat on Broadcom’s AI business, with Jefferies reiterating a Buy rating and a $550 price target as AI chip momentum improves. Broadcom’s (AVGO) AI Chip Momentum Keeps Wall Street Bullish
• Positive Sentiment: Broadcom is being viewed as a broader AI infrastructure winner because its networking products help connect large-scale AI systems, expanding the investment thesis beyond GPUs and custom chips. Broadcom stock's latest catalyst targets Nvidia where it looks strongest
• Neutral Sentiment: Some coverage notes Broadcom’s near-$2 trillion market value and strong AI revenue growth, but also suggests much of the good news may already be reflected in the stock. Broadcom Is Less Than 5% From the $2 Trillion Club -- and Apple Just Committed $30 Billion for More Chips
• Negative Sentiment: Erste Group downgraded Broadcom to Hold, citing valuation concerns, which may be limiting upside after the recent rally. Erste Group downgrades Broadcom to Hold citing valuation concerns

Broadcom Company 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.

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