Clarus Wealth Advisors Makes New $229,000 Investment in Broadcom Inc. (NASDAQ:AVGO)

Clarus Wealth Advisors purchased a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,306 shares of the semiconductor manufacturer’s stock, valued at approximately $229,000.

Several other institutional investors also recently modified their holdings of AVGO. Handelsbanken Fonder AB lifted its stake in Broadcom by 826.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 2,963,813 shares of the semiconductor manufacturer’s stock valued at $511,258,000 after acquiring an additional 2,643,845 shares during the period. Swedbank AB bought a new position in Broadcom during the first quarter valued at approximately $2,835,737,000. Vanguard Group Inc. grew its position in Broadcom by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 44,651,273 shares of the semiconductor manufacturer’s stock worth $59,181,244,000 after purchasing an additional 1,303,462 shares during the period. Jennison Associates LLC raised its stake in Broadcom by 43.9% during the 1st quarter. Jennison Associates LLC now owns 4,141,025 shares of the semiconductor manufacturer’s stock valued at $5,488,556,000 after buying an additional 1,263,957 shares during the last quarter. Finally, GQG Partners LLC lifted its holdings in shares of Broadcom by 48.9% during the 1st quarter. GQG Partners LLC now owns 2,992,833 shares of the semiconductor manufacturer’s stock valued at $3,966,730,000 after buying an additional 983,328 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Up 2.9 %

Shares of AVGO opened at $185.95 on Thursday. The business’s 50 day simple moving average is $161.39 and its 200-day simple moving average is $150.97. Broadcom Inc. has a 1 year low of $81.83 and a 1 year high of $186.42. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The stock has a market capitalization of $865.57 billion, a price-to-earnings ratio of 8.00, a price-to-earnings-growth ratio of 2.78 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating the consensus estimate of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. During the same quarter last year, the business earned $0.95 earnings per share. Broadcom’s quarterly revenue was up 47.3% compared to the same quarter last year. As a group, equities analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were paid a dividend of $0.53 per share. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom’s payout ratio is presently 9.12%.

Insiders Place Their Bets

In other news, Director Gayla J. Delly sold 750 shares of Broadcom stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total value of $130,897.50. Following the completion of the transaction, the director now owns 34,750 shares in the company, valued at approximately $6,064,917.50. The trade was a 0.00 % 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. In related news, Director Gayla J. Delly sold 750 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total transaction of $130,897.50. Following the sale, the director now owns 34,750 shares in the company, valued at approximately $6,064,917.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the transaction, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 276,230 shares of company stock valued at $47,190,190 over the last ninety days. 2.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on AVGO shares. JPMorgan Chase & Co. upped their price objective on Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. The Goldman Sachs Group raised their price objective on shares of Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, September 6th. TD Cowen upgraded shares of Broadcom to a “strong-buy” rating in a research report on Monday, September 16th. Benchmark reissued a “buy” rating and set a $210.00 price objective on shares of Broadcom in a research report on Friday, September 6th. Finally, Cantor Fitzgerald upped their price objective on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and an average price target of $190.29.

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.