Certuity LLC Raises Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Certuity LLC increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 15.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,676 shares of the semiconductor manufacturer's stock after purchasing an additional 2,843 shares during the quarter. Certuity LLC's holdings in Broadcom were worth $3,640,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in AVGO. Vanguard Group Inc. increased its holdings in shares of Broadcom by 0.4% in the first quarter. Vanguard Group Inc. now owns 477,220,137 shares of the semiconductor manufacturer's stock valued at $79,900,968,000 after purchasing an additional 2,085,534 shares during the period. Northern Trust Corp increased its holdings in shares of Broadcom by 12.0% in the fourth quarter. Northern Trust Corp now owns 49,087,351 shares of the semiconductor manufacturer's stock valued at $11,380,411,000 after purchasing an additional 5,258,925 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Broadcom by 46.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 47,524,533 shares of the semiconductor manufacturer's stock worth $11,018,089,000 after acquiring an additional 15,171,849 shares during the period. Nuveen LLC acquired a new stake in Broadcom during the first quarter worth about $6,649,117,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Broadcom by 1.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 34,401,379 shares of the semiconductor manufacturer's stock worth $7,975,616,000 after acquiring an additional 581,704 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Broadcom

In other news, Director Gayla J. Delly sold 3,000 shares of Broadcom stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $265.13, for a total value of $795,390.00. Following the completion of the sale, the director directly owned 33,352 shares of the company's stock, valued at approximately $8,842,615.76. The trade was a 8.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Hock E. Tan sold 40,000 shares of Broadcom stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $268.29, for a total value of $10,731,600.00. Following the completion of the sale, the chief executive officer directly owned 482,836 shares of the company's stock, valued at $129,540,070.44. The trade was a 7.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 829,716 shares of company stock valued at $217,040,489 over the last 90 days. Corporate insiders own 2.00% of the company's stock.

Broadcom Price Performance

AVGO stock opened at $309.09 on Thursday. The business has a fifty day moving average of $276.06 and a two-hundred day moving average of $228.20. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. The stock has a market cap of $1.45 trillion, a price-to-earnings ratio of 115.76, a price-to-earnings-growth ratio of 2.22 and a beta of 1.15. Broadcom Inc. has a 52-week low of $134.90 and a 52-week high of $317.35.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.01. The company had revenue of $15 billion during the quarter, compared to analysts' expectations of $14.98 billion. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The firm's quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter last year, the firm earned $10.96 earnings per share. As a group, research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Friday, June 20th. This represents a $2.36 annualized dividend and a yield of 0.8%. Broadcom's dividend payout ratio (DPR) is 88.39%.

Analysts Set New Price Targets

Several analysts recently commented on the company. UBS Group raised their target price on Broadcom from $270.00 to $290.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Morgan Stanley set a $338.00 target price on Broadcom and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Wells Fargo & Company raised their target price on Broadcom from $230.00 to $255.00 and gave the stock an "equal weight" rating in a report on Friday, June 6th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $340.00 target price on shares of Broadcom in a report on Wednesday. Finally, Cowen reissued a "buy" rating on shares of Broadcom in a report on Friday, June 6th. Two research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $295.96.

About Broadcom

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.

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