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

Clear Street Group Inc. grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 18.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 287,254 shares of the semiconductor manufacturer’s stock after acquiring an additional 45,179 shares during the quarter. Broadcom accounts for approximately 0.4% of Clear Street Group Inc.’s investment portfolio, making the stock its 19th biggest position. Clear Street Group Inc.’s holdings in Broadcom were worth $99,419,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Broadcom by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer’s stock valued at $167,064,997,000 after purchasing an additional 3,919,715 shares during the period. State Street Corp increased its holdings in shares of Broadcom by 2.7% during the fourth quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer’s stock worth $65,788,194,000 after purchasing an additional 5,040,801 shares during the period. Geode Capital Management LLC raised its position in shares of Broadcom by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 111,277,280 shares of the semiconductor manufacturer’s stock valued at $38,396,634,000 after buying an additional 1,548,699 shares in the last quarter. Norges Bank acquired a new stake in shares of Broadcom in the fourth quarter valued at approximately $24,252,196,000. Finally, Invesco Ltd. boosted its stake in shares of Broadcom by 1.8% in the third quarter. Invesco Ltd. now owns 39,149,651 shares of the semiconductor manufacturer’s stock valued at $12,915,861,000 after buying an additional 700,021 shares during the period. 76.43% of the stock is owned by institutional investors.

Broadcom News Summary

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

Wall Street Analyst Weigh In

AVGO has been the topic of a number of analyst reports. Citigroup reissued a “buy” rating on shares of Broadcom in a research report on Thursday, June 4th. Royal Bank Of Canada lifted their price objective on Broadcom from $360.00 to $400.00 and gave the company a “sector perform” rating in a report on Thursday, June 4th. Oppenheimer reissued an “outperform” rating and set a $535.00 target price (up from $450.00) on shares of Broadcom in a report on Thursday, June 4th. Zacks Research cut Broadcom from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 21st. Finally, Truist Financial boosted their price target on Broadcom from $545.00 to $550.00 and gave the company a “buy” rating in a research note 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $490.13.

Broadcom Trading Down 0.9%

Shares of AVGO stock opened at $382.07 on Friday. Broadcom Inc. has a fifty-two week low of $244.17 and a fifty-two week high of $495.00. The stock’s fifty day moving average price is $404.26 and its two-hundred day moving average price is $363.33. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24. The company has a market cap of $1.82 trillion, a PE ratio of 63.68, a P/E/G ratio of 0.67 and a beta of 1.41.

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

Broadcom Dividend Announcement

The firm 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 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 0.7%. Broadcom’s payout ratio is presently 43.33%.

Insiders Place Their Bets

In other news, insider Charlie B. Kawwas sold 39,116 shares of the stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $321.61, for a total value of $12,580,096.76. Following the completion of the transaction, the insider owned 74,626 shares of the company’s stock, valued at approximately $24,000,467.86. This represents a 34.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 50,488 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total transaction of $16,236,940.80. Following the completion of the sale, the insider owned 278,141 shares in the company, valued at approximately $89,450,145.60. The trade was a 15.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 324,282 shares of company stock worth $106,425,249 in the last ninety days. Insiders own 1.90% of the company’s stock.

About Broadcom

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.