Broadcom Inc. $AVGO Stake Cut by Clarus Wealth Advisors

Key Points

• Clarus Wealth Advisors has significantly decreased its holdings in Broadcom Inc. by 58.5% during the 2nd quarter, now owning 1,130 shares valued at $307,000.
• Broadcom reported a quarterly revenue of $15.95 billion, exceeding estimates, with a 22% increase in revenue compared to the same quarter last year.
• The company has announced a quarterly dividend of $0.59 per share, with an ex-dividend date set for September 22nd.

Clarus Wealth Advisors reduced its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 58.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,130 shares of the semiconductor manufacturer's stock after selling 1,590 shares during the period. Clarus Wealth Advisors' holdings in Broadcom were worth $307,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Broadcom during the 1st quarter worth about $25,000. Cheviot Value Management LLC purchased a new stake in shares of Broadcom during the 1st quarter worth about $25,000. Inlight Wealth Management LLC purchased a new stake in shares of Broadcom during the 1st quarter worth about $26,000. Sunbeam Capital Management LLC purchased a new stake in shares of Broadcom during the 4th quarter worth about $28,000. Finally, Vermillion Wealth Management Inc. purchased a new stake in shares of Broadcom during the 4th quarter worth about $30,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Performance

AVGO opened at $360.00 on Wednesday. Broadcom Inc. has a 12-month low of $138.10 and a 12-month high of $374.23. The firm has a market capitalization of $1.70 trillion, a P/E ratio of 91.84, a price-to-earnings-growth ratio of 2.01 and a beta of 1.16. The stock's 50 day moving average price is $303.88 and its two-hundred day moving average price is $244.46. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.03. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The company had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. During the same quarter last year, the firm earned $1.24 EPS. Broadcom's revenue for the quarter was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. On average, equities analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, September 22nd. Broadcom's dividend payout ratio (DPR) is presently 60.20%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on AVGO shares. Cowen reaffirmed a "buy" rating on shares of Broadcom in a research note on Friday, June 6th. Piper Sandler raised their price target on Broadcom from $315.00 to $375.00 and gave the stock an "overweight" rating in a research note on Friday, September 5th. Rosenblatt Securities raised their price target on Broadcom from $340.00 to $400.00 and gave the stock a "buy" rating in a research note on Friday, September 5th. Arete Research raised Broadcom to a "strong-buy" rating in a research note on Monday, July 28th. Finally, Redburn Atlantic started coverage on Broadcom in a research note on Wednesday, May 28th. They set a "buy" rating and a $301.00 price target for the company. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $356.48.

Insider Activity at Broadcom

In other news, Director Gayla J. Delly sold 3,000 shares of Broadcom stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $265.13, for a total transaction of $795,390.00. Following the sale, the director owned 33,352 shares of the company's stock, valued at approximately $8,842,615.76. This trade represents a 8.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Harry L. You acquired 500 shares of the firm's stock in a transaction dated Wednesday, September 10th. The shares were purchased at an average cost of $363.38 per share, for a total transaction of $181,690.00. Following the acquisition, the director directly owned 35,602 shares in the company, valued at $12,937,054.76. This represents a 1.42% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 3,550 shares of company stock worth $1,227,869 and have sold 793,802 shares worth $220,478,166. 2.00% of the stock is owned by company insiders.

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.

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