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

Certuity LLC grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 50.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,295 shares of the semiconductor manufacturer’s stock after purchasing 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 institutional investors and hedge funds have also recently modified their holdings of AVGO. Stuart Chaussee & Associates Inc. acquired a new stake in Broadcom during the 4th quarter valued at approximately $25,000. PSI Advisors LLC lifted its stake in shares of Broadcom by 66.7% in the 4th quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock valued at $28,000 after purchasing an additional 10 shares during the period. Macroview Investment Management LLC acquired a new position in shares of Broadcom in the 3rd quarter valued at $29,000. BKM Wealth Management LLC acquired a new position in shares of Broadcom in the 4th quarter valued at $29,000. Finally, CKW Financial Group acquired a new position in shares of Broadcom in the 4th quarter valued at $30,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Stock Down 1.9 %

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

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. The firm had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The firm’s revenue was up 34.2% on a year-over-year basis. During the same period in the prior year, the business earned $9.83 EPS. On average, sell-side analysts predict that Broadcom Inc. will post 35.96 EPS for the current fiscal year.

Broadcom Announces Dividend

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

Analyst Ratings Changes

Several equities analysts recently issued reports on AVGO shares. Rosenblatt Securities reiterated a “buy” rating and issued a $1,500.00 target price on shares of Broadcom in a research note on Thursday, March 21st. Benchmark reiterated a “buy” rating and issued a $1,720.00 target price on shares of Broadcom in a research note on Thursday, March 21st. JPMorgan Chase & Co. restated an “overweight” rating and set a $1,700.00 price objective on shares of Broadcom in a research report on Thursday, March 21st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a research report on Monday, April 8th. Finally, Oppenheimer restated an “outperform” rating and set a $1,500.00 price objective (up from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. Three equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,285.41.

Insiders Place Their Bets

In related news, Director Justine Page sold 110 shares of the firm’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total value of $145,530.00. Following the transaction, the director now directly owns 3,125 shares of the company’s stock, valued at approximately $4,134,375. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Justine Page sold 110 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the sale, the director now directly owns 3,125 shares in the company, valued at $4,134,375. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kenneth Hao sold 9,160 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the sale, the director now owns 45 shares in the company, valued at $62,465.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,920 shares of company stock worth $40,306,667. 2.00% of the stock is currently owned by company insiders.

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.