Certuity LLC Purchases 432 Shares of Broadcom Inc. (NASDAQ:AVGO)

Certuity LLC lifted its stake in Broadcom Inc. (NASDAQ:AVGO) by 50.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,295 shares of the semiconductor manufacturer’s stock after buying an additional 432 shares during the quarter. Certuity LLC’s holdings in Broadcom were worth $1,445,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of AVGO. Northern Trust Corp boosted its position in Broadcom by 2.1% in the 3rd quarter. Northern Trust Corp now owns 4,655,402 shares of the semiconductor manufacturer’s stock valued at $3,866,684,000 after buying an additional 93,615 shares during the period. Wellington Management Group LLP increased its position in Broadcom by 43.9% during the third quarter. Wellington Management Group LLP now owns 4,025,658 shares of the semiconductor manufacturer’s stock worth $3,343,631,000 after purchasing an additional 1,228,755 shares during the last quarter. FMR LLC grew its stake in Broadcom by 16.7% during the third quarter. FMR LLC now owns 4,019,122 shares of the semiconductor manufacturer’s stock worth $3,338,203,000 after buying an additional 573,826 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Broadcom by 113,495.7% in the fourth quarter. International Assets Investment Management LLC now owns 3,327,217 shares of the semiconductor manufacturer’s stock valued at $37,140,060,000 after purchasing an additional 3,324,288 shares during the period. Finally, Invesco Ltd. boosted its stake in Broadcom by 19.1% during the 3rd quarter. Invesco Ltd. now owns 3,206,601 shares of the semiconductor manufacturer’s stock valued at $2,663,339,000 after acquiring an additional 514,120 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $1,318.97, for a total transaction of $3,297,425.00. Following the sale, the insider now directly owns 46,974 shares in the company, valued at $61,957,296.78. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Broadcom news, insider Mark David Brazeal sold 2,500 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $1,318.97, for a total transaction of $3,297,425.00. Following the sale, the insider now owns 46,974 shares of the company’s stock, valued at approximately $61,957,296.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eddy W. Hartenstein sold 3,150 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the completion of the sale, the director now directly owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,920 shares of company stock valued at $40,306,667. Company insiders own 2.00% of the company’s stock.

Broadcom Trading Down 1.9 %

Shares of AVGO stock traded down $25.80 on Tuesday, hitting $1,312.82. The company had a trading volume of 942,523 shares, compared to its average volume of 2,891,745. Broadcom Inc. has a twelve month low of $601.29 and a twelve month high of $1,438.17. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. The stock’s 50-day moving average is $1,308.57 and its two-hundred day moving average is $1,140.88. The firm has a market cap of $608.39 billion, a P/E ratio of 48.86, a P/E/G ratio of 2.74 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating the consensus estimate of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The company had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. During the same period in the previous year, the business earned $9.83 earnings per share. The firm’s quarterly revenue was up 34.2% compared to the same quarter last year. On average, equities research analysts anticipate that Broadcom Inc. will post 35.96 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were issued a dividend of $5.25 per share. This represents a $21.00 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio is presently 77.84%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Cantor Fitzgerald upped their price target on Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a research report on Monday, March 4th. Rosenblatt Securities restated a “buy” rating and set a $1,500.00 target price on shares of Broadcom in a research report on Thursday, March 21st. Oppenheimer reissued an “outperform” rating and issued a $1,500.00 target price (up from $1,100.00) on shares of Broadcom in a research note on Friday, March 1st. Evercore ISI began coverage on Broadcom in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $1,620.00 target price for the company. Finally, Benchmark restated a “buy” rating and issued a $1,720.00 price target on shares of Broadcom in a research report on Thursday, March 21st. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,285.41.

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.