Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Fermata Advisors LLC

by · The Markets Daily

Fermata Advisors LLC cut its holdings in Broadcom Inc. (NASDAQ:AVGO – Free Report) by 12.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,830 shares of the semiconductor manufacturer’s stock after selling 1,103 shares during the quarter. Fermata Advisors LLC’s holdings in Broadcom were worth $1,311,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Canton Hathaway LLC acquired a new position in Broadcom in the 4th quarter valued at about $26,000. Rialto Wealth Management LLC acquired a new position in shares of Broadcom in the fourth quarter valued at approximately $26,000. Sunbeam Capital Management LLC acquired a new position in shares of Broadcom in the fourth quarter valued at approximately $28,000. Vermillion Wealth Management Inc. acquired a new position in Broadcom in the 4th quarter valued at $30,000. Finally, Sellwood Investment Partners LLC acquired a new position in shares of Broadcom during the fourth quarter worth about $32,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AVGO has been the topic of a number of recent analyst reports. Truist Financial upped their price objective on Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a report on Friday, March 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $300.00 price target on shares of Broadcom in a research note on Friday, March 7th. Susquehanna upped their price target on shares of Broadcom from $250.00 to $280.00 and gave the stock a “positive” rating in a research note on Thursday, May 29th. William Blair restated an “outperform” rating on shares of Broadcom in a research report on Friday, March 7th. Finally, Mizuho upped their target price on shares of Broadcom from $250.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 28th. Three equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and an average price target of $246.00.

Get Our Latest Report on Broadcom

Insider Activity at Broadcom

In related news, insider Mark David Brazeal sold 30,000 shares of the company’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $194.65, for a total value of $5,839,500.00. Following the completion of the sale, the insider now directly owns 490,956 shares in the company, valued at approximately $95,564,585.40. This represents a 5.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Henry Samueli sold 663,976 shares of the company’s stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total value of $120,578,041.60. Following the sale, the director now owns 38,798,721 shares of the company’s stock, valued at approximately $7,045,847,733.60. This trade represents a 1.68% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 720,576 shares of company stock valued at $131,249,694. 2.00% of the stock is owned by corporate insiders.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $261.08 on Thursday. The business’s 50-day moving average price is $200.31 and its two-hundred day moving average price is $205.00. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. Broadcom Inc. has a one year low of $128.50 and a one year high of $265.43. The company has a market capitalization of $1.23 trillion, a P/E ratio of 212.95, a price-to-earnings-growth ratio of 2.29 and a beta of 1.11.

Broadcom announced that its board has initiated a stock repurchase program on Monday, April 7th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor manufacturer to buy up to 1.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its stock is undervalued.

About Broadcom

(Free Report)

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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