Certified Advisory Corp Has $815,000 Holdings in Broadcom Inc. (NASDAQ:AVGO)

Certified Advisory Corp raised its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,514 shares of the semiconductor manufacturer’s stock after acquiring an additional 104 shares during the period. Certified Advisory Corp’s holdings in Broadcom were worth $815,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. NCP Inc. lifted its position in Broadcom by 615.4% during the 2nd quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock worth $747,000 after buying an additional 400 shares in the last quarter. ProVise Management Group LLC bought a new position in shares of Broadcom in the second quarter worth about $318,000. Brighton Jones LLC grew its stake in shares of Broadcom by 5.7% during the second quarter. Brighton Jones LLC now owns 2,480 shares of the semiconductor manufacturer’s stock valued at $3,981,000 after purchasing an additional 133 shares during the last quarter. Ieq Capital LLC increased its holdings in shares of Broadcom by 10.1% in the second quarter. Ieq Capital LLC now owns 33,422 shares of the semiconductor manufacturer’s stock valued at $53,659,000 after purchasing an additional 3,067 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its position in Broadcom by 4.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 24,465 shares of the semiconductor manufacturer’s stock worth $39,280,000 after purchasing an additional 1,036 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of the business’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the sale, the director now directly owns 46,400 shares of the company’s stock, valued at $10,655,296. The trade was a 7.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Harry L. You sold 6,540 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total value of $1,569,600.00. Following the completion of the transaction, the director now owns 30,450 shares of the company’s stock, valued at $7,308,000. The trade was a 17.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock valued at $44,964,800 in the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Trading Up 3.5 %

Shares of NASDAQ:AVGO opened at $237.44 on Friday. The firm has a market cap of $1.11 trillion, a price-to-earnings ratio of 193.67, a PEG ratio of 2.35 and a beta of 1.03. Broadcom Inc. has a 12 month low of $112.19 and a 12 month high of $251.88. The company’s fifty day simple moving average is $200.93 and its 200 day simple moving average is $177.60. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98.

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

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given a dividend of $0.59 per share. The ex-dividend date was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 0.99%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is 191.87%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on AVGO shares. Deutsche Bank Aktiengesellschaft increased their price objective on Broadcom from $190.00 to $240.00 and gave the company a “buy” 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 stock a “buy” rating in a research report on Friday, December 13th. Evercore ISI upped their target price on shares of Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Cantor Fitzgerald lifted their price target on shares of Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Finally, Mizuho increased their price objective on shares of Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $225.83.

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.