Clarity Financial LLC Cuts Position in Broadcom Inc. (NASDAQ:AVGO)

Clarity Financial LLC lessened its position in Broadcom Inc. (NASDAQ:AVGO) by 28.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,410 shares of the semiconductor manufacturer’s stock after selling 958 shares during the quarter. Clarity Financial LLC’s holdings in Broadcom were worth $559,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Strategic Wealth Investment Group LLC increased its position in shares of Broadcom by 0.6% during the 4th quarter. Strategic Wealth Investment Group LLC now owns 108,558 shares of the semiconductor manufacturer’s stock valued at $25,168,000 after purchasing an additional 609 shares during the last quarter. Marest Capital LLC grew its position in Broadcom by 1.0% during the fourth quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer’s stock valued at $1,052,000 after acquiring an additional 46 shares during the last quarter. Cyr Financial Inc. purchased a new position in shares of Broadcom during the fourth quarter worth approximately $638,000. Mediolanum International Funds Ltd lifted its holdings in shares of Broadcom by 36.3% in the 4th quarter. Mediolanum International Funds Ltd now owns 634,112 shares of the semiconductor manufacturer’s stock worth $149,017,000 after acquiring an additional 168,774 shares during the last quarter. Finally, Penney Financial LLC purchased a new stake in shares of Broadcom in the 4th quarter valued at $232,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Hsbc Global Res upgraded Broadcom to a “hold” rating in a report on Tuesday, December 3rd. JPMorgan Chase & Co. raised their price target on shares of Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Morgan Stanley dropped their target price on shares of Broadcom from $265.00 to $246.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. TD Cowen boosted their price target on Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $240.00 price objective on shares of Broadcom in a report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $225.04.

Insider Activity at Broadcom

In other news, Director Harry L. You sold 6,540 shares of Broadcom stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total value of $1,569,600.00. Following the sale, the director now owns 30,450 shares in the company, valued at $7,308,000. This trade represents a 17.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the sale, the director now owns 46,400 shares in the company, valued at approximately $10,655,296. The trade was a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock worth $44,964,800 in the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Broadcom Trading Up 2.6 %

NASDAQ AVGO opened at $221.27 on Monday. The stock has a market cap of $1.04 trillion, a P/E ratio of 180.48, a P/E/G ratio of 2.16 and a beta of 1.03. 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 Inc. has a 12-month low of $117.43 and a 12-month high of $251.88. The company has a fifty day simple moving average of $213.41 and a two-hundred day simple moving average of $182.02.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. The firm had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company’s revenue was up 51.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 earnings per share. On average, analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given a $0.59 dividend. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.07%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is 192.50%.

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.