Catalyst Financial Partners LLC Acquires 1,352 Shares of Broadcom Inc. $AVGO

Key Points

• Catalyst Financial Partners increased its Broadcom stake by 5.5% in the fourth quarter, adding 1,352 shares and bringing its total holdings to 26,044 shares valued at about $9.0 million.
• Broadcom insiders have been selling shares, including sizable recent transactions by Mark David Brazeal and Charlie B. Kawwas; insiders sold 324,282 shares worth about $106.4 million over the past 90 days.
• Broadcom reported strong quarterly results, with EPS of $2.05 and revenue of $19.31 billion, both ahead of expectations, while analysts remain generally positive with a consensus “Moderate Buy” rating and average price target of $442.13.

Catalyst Financial Partners LLC raised its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 5.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,044 shares of the semiconductor manufacturer's stock after acquiring an additional 1,352 shares during the period. Broadcom comprises 1.0% of Catalyst Financial Partners LLC's holdings, making the stock its 17th biggest holding. Catalyst Financial Partners LLC's holdings in Broadcom were worth $9,014,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AVGO. Brighton Jones LLC grew its position in Broadcom by 21.8% in 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 last quarter. Revolve Wealth Partners LLC boosted its stake 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 valued at $1,854,000 after purchasing an additional 756 shares in the last quarter. United Bank boosted its stake in shares of Broadcom by 76.5% during the first 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 in the last quarter. Sivia Capital Partners LLC boosted its stake in shares of Broadcom by 10.1% during the second quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer's stock valued at $3,499,000 after purchasing an additional 1,160 shares in the last quarter. Finally, Capital & Planning LLC boosted its stake in shares of Broadcom by 10.5% during 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 in the last quarter. Institutional investors own 76.43% of the company's stock.

Insiders Place Their Bets

In other Broadcom news, insider Mark David Brazeal sold 50,488 shares of the business's stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total value of $16,236,940.80. Following the transaction, the insider directly owned 278,141 shares of the company's stock, valued at approximately $89,450,145.60. The trade was a 15.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Charlie B. Kawwas sold 39,116 shares of the business's stock in a transaction that occurred on 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 directly owned 74,626 shares in the company, valued at approximately $24,000,467.86. This trade represents a 34.39% 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 valued at $106,425,249 in the last ninety days. 1.90% of the stock is owned by corporate insiders.

Broadcom Price Performance

Broadcom stock opened at $420.71 on Tuesday. The stock's 50 day moving average is $367.36 and its 200 day moving average is $354.90. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.90 and a quick ratio of 1.73. The firm has a market cap of $1.99 trillion, a P/E ratio of 82.17, a P/E/G ratio of 0.88 and a beta of 1.43. Broadcom Inc. has a one year low of $221.60 and a one year high of $442.36.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.02. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The firm had revenue of $19.31 billion for the quarter, compared to analyst estimates of $19.10 billion. During the same period in the previous year, the firm earned $1.60 earnings per share. The company's revenue was up 29.5% compared to the same quarter last year. As a group, research analysts expect that Broadcom Inc. will post 9.95 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd were paid a $0.65 dividend. The ex-dividend date of this dividend was Monday, March 23rd. This represents a $2.60 annualized dividend and a yield of 0.6%. Broadcom's payout ratio is 50.78%.

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of recent research reports. TD Cowen reissued a "buy" rating and set a $500.00 price target (up from $405.00) on shares of Broadcom in a research note on Friday. Bank of America cut their price target on Broadcom from $500.00 to $450.00 and set a "buy" rating on the stock in a research note on Thursday, March 5th. Erste Group Bank lowered Broadcom from a "buy" rating to a "hold" rating in a research note on Thursday, April 2nd. JPMorgan Chase & Co. lifted their price target on Broadcom from $475.00 to $500.00 and gave the company an "overweight" rating in a research note on Thursday, March 5th. Finally, Benchmark reissued a "buy" rating and set a $485.00 price target on shares of Broadcom in a research note on Thursday, March 5th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $442.13.

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.

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