Clear Street Group Inc. Has $99.42 Million Position in Broadcom Inc. $AVGO

Clear Street Group Inc. raised its position in Broadcom Inc. (NASDAQ:AVGO) by 18.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 287,254 shares of the semiconductor manufacturer’s stock after buying an additional 45,179 shares during the period. Broadcom makes up 0.4% of Clear Street Group Inc.’s portfolio, making the stock its 19th biggest holding. Clear Street Group Inc.’s holdings in Broadcom were worth $99,419,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC increased its position in Broadcom by 21.8% in the 4th 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 lifted its holdings in shares of Broadcom by 10.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock worth $1,854,000 after purchasing an additional 756 shares during the period. United Bank grew its stake in shares of Broadcom by 76.5% in the first quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock worth $392,000 after purchasing an additional 1,014 shares during the last quarter. Sivia Capital Partners LLC grew its stake in shares of Broadcom by 10.1% in the second quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer’s stock worth $3,499,000 after purchasing an additional 1,160 shares during the last quarter. Finally, Capital & Planning LLC increased its holdings in Broadcom by 10.5% in the second quarter. Capital & Planning LLC now owns 3,983 shares of the semiconductor manufacturer’s stock valued at $1,098,000 after purchasing an additional 378 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Stock Performance

AVGO stock opened at $382.07 on Friday. The firm has a market cap of $1.82 trillion, a PE ratio of 63.68, a price-to-earnings-growth ratio of 0.67 and a beta of 1.41. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. The stock has a 50-day moving average price of $404.26 and a 200-day moving average price of $363.33. Broadcom Inc. has a 1-year low of $244.17 and a 1-year high of $495.00.

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

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd will be given 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 dividend yield of 0.7%. Broadcom’s dividend payout ratio (DPR) is 43.33%.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s quarterly results were very strong, with revenue up 48% to a record $22.2 billion, semiconductor revenue up 79%, AI semiconductor revenue up 143% to $10.8 billion, and more than $30 billion in AI bookings, suggesting demand remains robust. Article Title
• Positive Sentiment: Several analysts and commentators argue the recent drop could be a buying opportunity, saying Broadcom remains a core infrastructure winner in AI and that Wall Street’s long-term outlook is still constructive. Article Title
• Positive Sentiment: Fresh coverage highlighted Broadcom as one of the stocks with catalysts heading into the second half of the year, and some analysts have raised earnings forecasts and price targets despite the selloff. Article Title
• Neutral Sentiment: Jim Cramer said Broadcom’s earnings were “not good” and suggested tech stocks are harder to trust as leadership names, reflecting a more cautious market mood around the stock. Article Title
• Neutral Sentiment: Broadcom also announced cash tender offers for certain outstanding debt securities, a routine balance-sheet move that is unlikely to move the stock by itself. Article Title
• Negative Sentiment: Market commentary says the stock is being punished because investors are nitpicking Broadcom’s AI outlook and pricing the shares as if growth must keep accelerating without any hiccups. Article Title
• Negative Sentiment: One note warned that Broadcom told investors to expect gross profit margins to continue falling, reinforcing concerns that profitability may soften even as revenue grows. Article Title

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Erste Group Bank raised Broadcom from a “hold” rating to a “buy” rating in a research report on Friday, June 5th. Rosenblatt Securities reissued a “buy” rating and issued a $500.00 price target on shares of Broadcom in a research note on Thursday, June 4th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $515.00 price objective (up from $430.00) on shares of Broadcom in a research report on Thursday, June 4th. UBS Group set a $485.00 price objective on Broadcom and gave the stock a “buy” rating in a research note on Thursday, June 4th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $525.00 target price on shares of Broadcom in a report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and an average price target of $490.13.

Insider Buying and Selling

In related news, Director Gayla J. Delly sold 1,000 shares of the stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $358.31, for a total transaction of $358,310.00. Following the transaction, the director directly owned 32,352 shares of the company’s stock, valued at $11,592,045.12. This represents a 3.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Charlie B. Kawwas sold 10,000 shares of the firm’s stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $345.23, for a total transaction of $3,452,300.00. Following the completion of the sale, the insider owned 787,184 shares of the company’s stock, valued at $271,759,532.32. The trade was a 1.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 324,282 shares of company stock worth $106,425,249 over the last ninety days. 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.