Claro Advisors Inc. Decreases Holdings in Broadcom Inc. $AVGO

Claro Advisors Inc. trimmed its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 7.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,318 shares of the semiconductor manufacturer’s stock after selling 1,950 shares during the quarter. Broadcom accounts for approximately 1.2% of Claro Advisors Inc.’s holdings, making the stock its 19th biggest holding. Claro Advisors Inc.’s holdings in Broadcom were worth $8,763,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Brown Brothers Harriman & Co. boosted its stake in shares of Broadcom by 10.7% during the third quarter. Brown Brothers Harriman & Co. now owns 77,411 shares of the semiconductor manufacturer’s stock valued at $25,539,000 after purchasing an additional 7,499 shares in the last quarter. Dana Investment Advisors Inc. boosted its stake in shares of Broadcom by 2.6% during the third quarter. Dana Investment Advisors Inc. now owns 173,759 shares of the semiconductor manufacturer’s stock valued at $57,325,000 after purchasing an additional 4,442 shares in the last quarter. Sovran Advisors LLC boosted its stake in shares of Broadcom by 121.3% during the fourth quarter. Sovran Advisors LLC now owns 30,631 shares of the semiconductor manufacturer’s stock valued at $10,507,000 after purchasing an additional 16,789 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Broadcom by 406.1% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,994 shares of the semiconductor manufacturer’s stock valued at $4,151,000 after purchasing an additional 9,624 shares in the last quarter. Finally, Siligmueller & Norvid Wealth Advisors LLC bought a new position in shares of Broadcom during the third quarter valued at approximately $762,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: JPMorgan reiterated a bullish stance on Broadcom, saying the market may be underestimating its long-term AI opportunity and calling the shares attractive at current levels. Barrons article
• Positive Sentiment: Other coverage highlighted Broadcom’s “massive AI pipeline” and the company’s growing role in AI infrastructure, reinforcing expectations for multi-year revenue growth. Benzinga article
• Positive Sentiment: Broadcom announced pricing terms for cash tender offers to repurchase portions of its outstanding debt, a move that can support balance-sheet management and financial flexibility. PR Newswire article
• Neutral Sentiment: Commentary on Broadcom’s latest quarter noted strong AI-chip demand and revenue growth, but also pointed to gross margin pressure and cautious guidance, which may be keeping some investors from getting more aggressive. Zacks article
• Negative Sentiment: Some broader AI-stock commentary has compared today’s AI capex boom to the dot-com era, renewing valuation and cycle-risk concerns across the sector that could weigh on sentiment for AVGO. 247WallSt article

Analysts Set New Price Targets

A number of research firms have recently issued reports on AVGO. Wall Street Zen upgraded shares of Broadcom from a “buy” rating to a “strong-buy” rating in a research note on Monday. Morgan Stanley set a $502.00 price objective on shares of Broadcom and gave the company an “overweight” rating in a research note on Thursday, June 4th. Weiss Ratings upgraded shares of Broadcom from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, June 9th. Cantor Fitzgerald reiterated an “overweight” rating and set a $525.00 price objective on shares of Broadcom in a research note 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 note on Thursday, June 4th. One investment 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, Broadcom has an average rating of “Moderate Buy” and a consensus target price of $490.13.

Insider Buying and Selling

In other Broadcom news, insider Charlie B. Kawwas sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $345.23, for a total value of $3,452,300.00. Following the completion of the sale, the insider directly owned 787,184 shares in the company, valued at $271,759,532.32. This trade represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Justine Page sold 2,018 shares of the firm’s stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $353.00, for a total transaction of $712,354.00. Following the completion of the sale, the director owned 18,164 shares of the company’s stock, valued at approximately $6,411,892. This trade represents a 10.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 51,233 shares of company stock valued at $18,125,134 over the last quarter. Insiders own 1.90% of the company’s stock.

Broadcom Price Performance

Shares of AVGO opened at $392.90 on Thursday. The company has a market cap of $1.87 trillion, a price-to-earnings ratio of 65.48, a price-to-earnings-growth ratio of 0.66 and a beta of 1.41. Broadcom Inc. has a twelve month low of $244.17 and a twelve month high of $495.00. 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 company has a 50 day moving average of $408.66 and a two-hundred day moving average of $363.11.

Broadcom (NASDAQ:AVGO) 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. The company had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. Broadcom’s revenue was up 47.9% compared to the same quarter last year. During the same period last year, the firm earned $1.58 earnings per share. As a group, analysts predict that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, June 22nd. Broadcom’s dividend payout ratio (DPR) is 43.33%.

Broadcom 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.