Broadcom Inc. $AVGO Stock Position Cut by Certuity LLC

Certuity LLC decreased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 10.0% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 19,514 shares of the semiconductor manufacturer’s stock after selling 2,162 shares during the period. Certuity LLC’s holdings in Broadcom were worth $5,375,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Sawyer & Company Inc raised its holdings in Broadcom by 62.1% during the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 36 shares in the last quarter. Longfellow Investment Management Co. LLC acquired a new position in shares of Broadcom during the 2nd quarter valued at $27,000. Legend Financial Advisors Inc. bought a new stake in shares of Broadcom in the 2nd quarter worth $28,000. LGT Financial Advisors LLC acquired a new stake in shares of Broadcom in the second quarter valued at $31,000. Finally, New England Capital Financial Advisors LLC bought a new position in Broadcom during the second quarter valued at about $31,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 148,154 shares of Broadcom stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $336.67, for a total transaction of $49,879,007.18. Following the transaction, the chief executive officer owned 825,998 shares of the company’s stock, valued at $278,088,746.66. The trade was a 15.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Henry Samueli sold 368,797 shares of the stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $337.91, for a total transaction of $124,620,194.27. Following the completion of the sale, the director directly owned 37,722,534 shares of the company’s stock, valued at $12,746,821,463.94. This trade represents a 0.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 665,271 shares of company stock valued at $225,483,192 in the last ninety days. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AVGO. Barclays set a $450.00 price target on shares of Broadcom and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. Morgan Stanley reiterated an “overweight” rating and issued a $443.00 target price (up from $409.00) on shares of Broadcom in a report on Monday, December 1st. JPMorgan Chase & Co. increased their target price on shares of Broadcom from $325.00 to $400.00 and gave the company an “overweight” rating in a research note on Friday, September 5th. Truist Financial lifted their price target on shares of Broadcom from $295.00 to $365.00 and gave the stock a “buy” rating in a research report on Friday, September 5th. Finally, The Goldman Sachs Group set a $435.00 price target on Broadcom and gave the company a “buy” rating in a report on Tuesday, November 25th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Broadcom has an average rating of “Buy” and an average target price of $391.04.

Broadcom Trading Up 2.8%

NASDAQ AVGO opened at $401.10 on Tuesday. The firm’s 50 day moving average price is $358.25 and its two-hundred day moving average price is $313.90. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $407.29. The stock has a market cap of $1.89 trillion, a price-to-earnings ratio of 102.32, a PEG ratio of 1.33 and a beta of 1.19.

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.