Sara Bay Financial Acquires 72 Shares of Broadcom Inc. (NASDAQ:AVGO)

Sara Bay Financial increased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 10.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 754 shares of the semiconductor manufacturer’s stock after purchasing an additional 72 shares during the period. Broadcom makes up about 0.4% of Sara Bay Financial’s investment portfolio, making the stock its 27th largest position. Sara Bay Financial’s holdings in Broadcom were worth $842,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Cantor Fitzgerald Investment Advisor L.P increased its position in Broadcom by 94.4% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 75,090 shares of the semiconductor manufacturer’s stock valued at $47,283,000 after acquiring an additional 36,458 shares during the last quarter. Fairfield Bush & CO. grew its holdings in shares of Broadcom by 2.6% in the first quarter. Fairfield Bush & CO. now owns 4,945 shares of the semiconductor manufacturer’s stock worth $3,114,000 after purchasing an additional 123 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Broadcom by 20.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 509,603 shares of the semiconductor manufacturer’s stock worth $320,887,000 after purchasing an additional 87,945 shares during the last quarter. Loomis Sayles & Co. L P grew its holdings in shares of Broadcom by 1.1% in the first quarter. Loomis Sayles & Co. L P now owns 40,357 shares of the semiconductor manufacturer’s stock worth $25,412,000 after purchasing an additional 420 shares during the last quarter. Finally, Ergoteles LLC bought a new position in shares of Broadcom in the first quarter worth about $1,095,000. Institutional investors own 78.81% of the company’s stock.

Insider Transactions at Broadcom

In related news, CFO Kirsten M. Spears sold 2,500 shares of Broadcom stock in a transaction on Friday, January 5th. The shares were sold at an average price of $1,043.14, for a total value of $2,607,850.00. Following the sale, the chief financial officer now owns 26,880 shares of the company’s stock, valued at approximately $28,039,603.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Broadcom news, CFO Kirsten M. Spears sold 2,500 shares of the firm’s stock in a transaction on Friday, January 5th. The stock was sold at an average price of $1,043.14, for a total value of $2,607,850.00. Following the transaction, the chief financial officer now owns 26,880 shares in the company, valued at approximately $28,039,603.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kenneth Hao sold 9,160 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now owns 45 shares in the company, valued at approximately $62,465.85. The disclosure for this sale can be found here. Insiders have sold 14,810 shares of company stock valued at $19,387,692 in the last 90 days. 2.00% of the stock is currently owned by company insiders.

Broadcom Stock Performance

NASDAQ:AVGO traded up $72.00 during midday trading on Thursday, hitting $1,348.00. The company’s stock had a trading volume of 7,240,891 shares, compared to its average volume of 3,143,263. The firm has a market cap of $624.69 billion, a P/E ratio of 49.96, a P/E/G ratio of 2.61 and a beta of 1.26. Broadcom Inc. has a fifty-two week low of $601.29 and a fifty-two week high of $1,438.17. The firm’s 50 day moving average is $1,248.46 and its 200-day moving average is $1,046.68. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24.

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 business had revenue of $11.96 billion for the quarter, compared to analysts’ expectations of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The business’s revenue was up 34.2% on a year-over-year basis. During the same quarter last year, the company earned $9.83 EPS. Equities analysts anticipate that Broadcom Inc. will post 36.8 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Thursday, March 21st will be paid a dividend of $5.25 per share. The ex-dividend date is Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.56%. Broadcom’s payout ratio is 77.84%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on AVGO shares. TD Cowen upgraded shares of Broadcom from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $1,400.00 to $1,500.00 in a report on Thursday. KeyCorp upped their price objective on shares of Broadcom from $1,000.00 to $1,200.00 and gave the stock an “overweight” rating in a research note on Friday, November 24th. Citigroup reaffirmed a “buy” rating and issued a $1,100.00 price objective on shares of Broadcom in a research note on Monday, December 11th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $1,700.00 price objective on shares of Broadcom in a research note on Thursday. Finally, Benchmark reaffirmed a “buy” rating and issued a $1,720.00 price objective on shares of Broadcom in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $1,230.18.

Broadcom 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.