Clearwave Capital LLC Makes New $4.38 Million Investment in Broadcom Inc. $AVGO

Clearwave Capital LLC purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 12,649 shares of the semiconductor manufacturer’s stock, valued at approximately $4,378,000. Broadcom comprises approximately 3.2% of Clearwave Capital LLC’s portfolio, making the stock its 7th largest position.

A number of other hedge funds have also made changes to their positions in the stock. Brighton Jones LLC boosted its holdings in Broadcom by 21.8% during the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock valued at $6,882,000 after acquiring an additional 5,322 shares during the period. Revolve Wealth Partners LLC boosted its stake in Broadcom by 10.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock valued at $1,854,000 after purchasing an additional 756 shares during the period. United Bank boosted its stake in Broadcom by 76.5% during the 1st quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock valued at $392,000 after purchasing an additional 1,014 shares during the period. Sivia Capital Partners LLC grew its holdings in Broadcom by 10.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer’s stock valued at $3,499,000 after buying an additional 1,160 shares during the last quarter. Finally, Capital & Planning LLC grew its holdings in Broadcom by 10.5% in the 2nd quarter. Capital & Planning LLC now owns 3,983 shares of the semiconductor manufacturer’s stock valued at $1,098,000 after buying an additional 378 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s debt tender offer was upsized to $3 billion after strong investor demand, signaling active balance-sheet management and reinforcing investor confidence. Broadcom Inc. Announces Results and Upsize of Offers to Purchase for Cash Certain of its Outstanding Debt Securities
• Positive Sentiment: JPMorgan remained bullish on Broadcom, saying investors should be “aggressive buyers,” which supports the view that the market may still be underestimating AVGO’s AI growth. AVGO stock jumps — JPMorgan says investors should be ‘aggressive buyers’ of Broadcom at current levels
• Positive Sentiment: Citi also called Broadcom a top chip stock on strong data-center demand, adding another bullish Wall Street view tied to AI infrastructure spending. Citi Touts Broadcom Inc. (AVGO) as a Top Chip Stock on Soaring Data Center Demand
• Positive Sentiment: One report said VMware, Broadcom’s second-largest business, may be set to accelerate, which could broaden growth beyond the company’s AI chip exposure. VMware: Broadcom’s Second Biggest Business Set to Accelerate
• Neutral Sentiment: Insider Mark David Brazeal sold shares in two June transactions, but the sales were relatively small versus his remaining stake and do not necessarily change the broader investment thesis. Mark David Brazeal insider trading page
• Negative Sentiment: One analyst warned that chip valuations are getting stretched and suggested investors could consider alternatives, including Broadcom, which may temper enthusiasm if valuation concerns intensify. Analyst Warns Intel Valuation ‘Doesn’t Make Sense.’ Suggests NVIDIA, AMD, Micron, and Broadcom as Alternatives.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on AVGO shares. Mizuho raised their price objective on shares of Broadcom from $480.00 to $530.00 and gave the stock an “outperform” rating in a research note on Thursday, June 4th. JPMorgan Chase & Co. boosted their price objective on shares of Broadcom from $500.00 to $580.00 and gave the stock an “overweight” rating in a report on Thursday, June 4th. Zacks Research lowered shares of Broadcom from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 21st. Bank of America increased their target price on shares of Broadcom from $450.00 to $530.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. Finally, Rosenblatt Securities restated a “buy” rating and set a $500.00 price objective on shares of Broadcom in a research report on Thursday, June 4th. One 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 stock. According to MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and an average price target of $490.13.

Broadcom Stock Performance

Shares of NASDAQ:AVGO opened at $411.35 on Friday. The business has a fifty day moving average of $411.42 and a 200-day moving average of $363.50. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24. Broadcom Inc. has a twelve month low of $244.17 and a twelve month high of $495.00. The firm has a market cap of $1.96 trillion, a PE ratio of 68.56, a price-to-earnings-growth ratio of 0.72 and a beta of 1.41.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.04. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The business had revenue of $22.19 billion for the quarter, compared to the consensus estimate of $22.13 billion. During the same quarter in the prior year, the company earned $1.58 EPS. The firm’s quarterly revenue was up 47.9% on a year-over-year basis. On average, equities research analysts predict that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd will be issued a dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $2.60 annualized dividend and a yield of 0.6%. Broadcom’s dividend payout ratio is currently 43.33%.

Insider Activity

In other news, Director Justine Page sold 2,018 shares of the business’s stock in a transaction on Wednesday, April 8th. The stock was 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 in the company, valued at $6,411,892. The trade was a 10.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mark David Brazeal sold 4,825 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $394.91, for a total transaction of $1,905,440.75. Following the completion of the transaction, the insider directly owned 269,989 shares in the company, valued at $106,621,355.99. This trade represents a 1.76% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 59,385 shares of company stock worth $21,301,057. 1.90% of the stock is owned by company insiders.

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.