Clare Market Investments LLC Has $2.57 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

Clare Market Investments LLC raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 40.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,373 shares of the semiconductor manufacturer's stock after purchasing an additional 4,403 shares during the period. Broadcom accounts for approximately 0.7% of Clare Market Investments LLC's holdings, making the stock its 25th biggest holding. Clare Market Investments LLC's holdings in Broadcom were worth $2,574,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Canton Hathaway LLC bought a new position in Broadcom during the fourth quarter worth about $26,000. Rialto Wealth Management LLC bought a new stake in shares of Broadcom in the 4th quarter valued at about $26,000. Sunbeam Capital Management LLC acquired a new stake in shares of Broadcom in the 4th quarter valued at approximately $28,000. Vermillion Wealth Management Inc. bought a new position in Broadcom during the 4th quarter worth approximately $30,000. Finally, Sellwood Investment Partners LLC bought a new position in Broadcom during the 4th quarter worth approximately $32,000. Institutional investors own 76.43% of the company's stock.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of the company's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $194.65, for a total value of $5,839,500.00. Following the transaction, the insider now directly owns 490,956 shares of the company's stock, valued at $95,564,585.40. This represents a 5.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Henry Samueli sold 663,976 shares of Broadcom stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total value of $120,578,041.60. Following the sale, the director now directly owns 38,798,721 shares of the company's stock, valued at $7,045,847,733.60. This represents a 1.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold 720,576 shares of company stock valued at $131,249,694 in the last quarter. 2.00% of the stock is currently owned by insiders.

Broadcom Stock Performance

NASDAQ:AVGO traded down $1.15 on Thursday, hitting $259.93. The company's stock had a trading volume of 41,745,758 shares, compared to its average volume of 30,914,786. Broadcom Inc. has a one year low of $128.50 and a one year high of $265.43. The firm has a market capitalization of $1.22 trillion, a P/E ratio of 212.02, a price-to-earnings-growth ratio of 2.29 and a beta of 1.11. The stock has a fifty day moving average of $200.31 and a two-hundred day moving average of $205.00. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98.

Broadcom declared that its board has approved a share repurchase program on Monday, April 7th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to repurchase up to 1.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board believes its shares are undervalued.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 20th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.91%. Broadcom's dividend payout ratio (DPR) is presently 113.46%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. KeyCorp increased their target price on shares of Broadcom from $260.00 to $275.00 and gave the stock an "overweight" rating in a report on Friday, March 7th. Redburn Atlantic assumed coverage on shares of Broadcom in a research report on Wednesday, May 28th. They issued a "buy" rating and a $301.00 price objective for the company. Citigroup lifted their target price on Broadcom from $210.00 to $276.00 and gave the stock a "buy" rating in a report on Tuesday. Erste Group Bank raised Broadcom from a "hold" rating to a "buy" rating in a research note on Thursday. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $300.00 price target on shares of Broadcom in a research report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $246.00.

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.