Certuity LLC Acquires 4,535 Shares of Broadcom Inc. (NASDAQ:AVGO)

Certuity LLC lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 31.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 18,833 shares of the semiconductor manufacturer’s stock after acquiring an additional 4,535 shares during the quarter. Certuity LLC’s holdings in Broadcom were worth $4,374,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of AVGO. Castleview Partners LLC lifted its holdings in Broadcom by 1,030.8% in the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 134 shares during the period. Pin Oak Investment Advisors Inc. increased its position in shares of Broadcom by 900.0% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 135 shares during the last quarter. Retirement Wealth Solutions LLC bought a new position in shares of Broadcom in the 4th quarter worth approximately $37,000. R Squared Ltd purchased a new position in shares of Broadcom in the fourth quarter worth approximately $39,000. Finally, JDM Financial Group LLC grew its position in Broadcom by 1,323.1% during the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after buying an additional 172 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Broadcom Trading Down 1.2 %

Shares of AVGO opened at $233.04 on Friday. The stock has a market capitalization of $1.09 trillion, a PE ratio of 190.08, a P/E/G ratio of 2.42 and a beta of 1.02. The company’s fifty day moving average is $225.09 and its 200 day moving average is $186.45. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88.

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

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a $0.59 dividend. This is a boost from Broadcom’s previous quarterly dividend of $0.53. 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 1.01%. Broadcom’s payout ratio is 192.50%.

Analyst Upgrades and Downgrades

AVGO has been the topic of several analyst reports. Piper Sandler lifted their price target on shares of Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Benchmark reiterated a “buy” rating and set a $255.00 target price (up from $210.00) on shares of Broadcom in a research report on Friday, December 13th. JPMorgan Chase & Co. upped their price target on Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Bank of America lifted their price objective on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, Hsbc Global Res raised shares of Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $225.04.

Insider Activity at Broadcom

In related news, CEO Hock E. Tan sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the completion of the sale, the chief executive officer now directly owns 842,836 shares of the company’s stock, valued at approximately $202,246,926.56. This trade represents a 5.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 20,168 shares of the company’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total value of $4,815,916.72. Following the completion of the transaction, the insider now directly owns 321,660 shares in the company, valued at $76,809,191.40. This trade represents a 5.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 191,278 shares of company stock worth $44,964,800. Company insiders own 2.00% of the company’s stock.

Broadcom 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.