4,004 Shares in Broadcom Inc. $AVGO Purchased by Claris Financial LLC

Key Points

• Claris Financial LLC opened a new position in Broadcom, buying 4,004 shares worth about $1.386 million in the fourth quarter. The stake now represents 0.7% of Claris Financial’s holdings and its 27th largest position.
• Broadcom has continued to attract bullish attention from analysts, with firms like JPMorgan, Citi, Bank of America, and KeyCorp raising targets or reiterating positive ratings. The current consensus remains a Moderate Buy with a price target around $490.13.
• The company reported better-than-expected quarterly results, posting $2.44 EPS on $22.19 billion in revenue, with revenue up 47.9% year over year. Broadcom also announced a quarterly dividend of $0.65 per share, payable June 30.

Claris Financial LLC acquired a new position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 4,004 shares of the semiconductor manufacturer's stock, valued at approximately $1,386,000. Broadcom makes up 0.7% of Claris Financial LLC's holdings, making the stock its 27th largest position.

A number of other hedge funds have also made changes to their positions in AVGO. ROSS JOHNSON & Associates LLC lifted its holdings in Broadcom by 1,320.0% in the 4th quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer's stock valued at $25,000 after purchasing an additional 66 shares in the last quarter. SWAN Capital LLC grew 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 buying an additional 55 shares in the last quarter. Miller Global Investments LLC acquired a new stake in shares of Broadcom in the fourth quarter valued at about $31,000. Nvest Wealth Strategies Inc. acquired a new stake in shares of Broadcom in the fourth quarter valued at about $33,000. Finally, Family CFO Inc purchased a new position in shares of Broadcom in the fourth quarter worth about $35,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom expanded its cash tender offers for outstanding debt to $3 billion from $2.5 billion after strong investor demand, which can be viewed as a sign of balance-sheet management and helped lift sentiment toward the stock. Broadcom Inc. Announces Results and Upsize of Offers to Purchase for Cash Certain of its Outstanding Debt Securities
• Positive Sentiment: JPMorgan reiterated a bullish view, saying investors should be “aggressive buyers” and arguing the market is underestimating Broadcom’s long-term AI opportunity, reinforcing the rally in AVGO. AVGO stock jumps — JPMorgan says investors should be 'aggressive buyers' of Broadcom at current levels
• Positive Sentiment: Citi also highlighted Broadcom as a top chip stock on soaring data-center demand, adding to optimism around AI-driven revenue growth. Citi Touts Broadcom Inc. (AVGO) as a Top Chip Stock on Soaring Data Center Demand
• Neutral Sentiment: Insider Mark David Brazeal sold shares in two June transactions totaling more than 8,100 shares. The sales are notable, but they represent relatively small reductions in a large personal holding and do not necessarily signal a change in the company’s outlook. Mark David Brazeal insider trading page

Insider Buying and Selling

In other Broadcom news, insider Charlie B. Kawwas sold 10,000 shares of Broadcom stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $345.23, for a total value of $3,452,300.00. Following the sale, the insider owned 787,184 shares in the company, valued at $271,759,532.32. The trade was a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider S. Ram Velaga sold 17,260 shares of the company's stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $352.12, for a total value of $6,077,591.20. Following the completion of the transaction, the insider directly owned 65,932 shares in the company, valued at approximately $23,215,975.84. This trade represents a 20.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 59,385 shares of company stock valued at $21,301,057 in the last ninety days. Company insiders own 1.90% of the company's stock.

Broadcom Price Performance

Shares of AVGO stock opened at $411.35 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01. The firm's 50-day moving average is $410.21 and its two-hundred day moving average is $363.17. Broadcom Inc. has a 12 month low of $244.17 and a 12 month high of $495.00. The company has a market capitalization of $1.96 trillion, a PE ratio of 68.56, a price-to-earnings-growth ratio of 0.69 and a beta of 1.41.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted 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 for the quarter, compared to analyst estimates of $22.13 billion. During the same period in the previous year, the business posted $1.58 EPS. Broadcom's revenue was up 47.9% on a year-over-year basis. Analysts predict that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 22nd will be issued a $0.65 dividend. The ex-dividend date is Monday, June 22nd. This represents a $2.60 dividend on an annualized basis and a yield of 0.6%. Broadcom's dividend payout ratio is currently 43.33%.

Analyst Ratings Changes

Several analysts recently issued reports on AVGO shares. KeyCorp reaffirmed an "overweight" rating and set a $575.00 price objective (up from $500.00) on shares of Broadcom in a research note on Thursday, June 4th. Bank of America raised their target price on shares of Broadcom from $450.00 to $530.00 and gave the stock a "buy" rating in a research note on Thursday, June 4th. Benchmark upped their price target on Broadcom from $485.00 to $545.00 and gave the company a "buy" rating in a research report on Thursday, June 4th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $525.00 price target on shares of Broadcom in a report on Thursday, June 4th. Finally, TD Cowen reiterated a "buy" rating and set a $500.00 price objective on shares of Broadcom in a research report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $490.13.

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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