Broadcom Inc. (NASDAQ:AVGO) Stake Boosted by Signet Financial Management LLC

Signet Financial Management LLC grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 26.8% during the 4th quarter, HoldingsChannel reports. The fund owned 5,850 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,236 shares during the period. Broadcom accounts for 1.0% of Signet Financial Management LLC’s holdings, making the stock its 22nd biggest position. Signet Financial Management LLC’s holdings in Broadcom were worth $6,530,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of AVGO. State Street Corp lifted its stake in shares of Broadcom by 5.0% in the 1st quarter. State Street Corp now owns 16,632,123 shares of the semiconductor manufacturer’s stock valued at $10,670,149,000 after purchasing an additional 794,832 shares during the last quarter. Morgan Stanley lifted its stake in shares of Broadcom by 12.5% in the 4th quarter. Morgan Stanley now owns 5,878,874 shares of the semiconductor manufacturer’s stock valued at $3,287,056,000 after purchasing an additional 651,014 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Broadcom by 11.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,682,635 shares of the semiconductor manufacturer’s stock valued at $2,948,563,000 after purchasing an additional 488,405 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Broadcom by 2.1% in the 3rd quarter. Northern Trust Corp now owns 4,655,402 shares of the semiconductor manufacturer’s stock valued at $3,866,684,000 after purchasing an additional 93,615 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its stake in shares of Broadcom by 4.4% in the 2nd quarter. Nuveen Asset Management LLC now owns 4,280,218 shares of the semiconductor manufacturer’s stock valued at $3,712,789,000 after purchasing an additional 179,272 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Broadcom news, Director Justine Page sold 110 shares of the company’s stock in a transaction dated Wednesday, April 10th. The shares were 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 of the company’s stock, valued at $4,134,375. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Broadcom news, CEO Hock E. Tan sold 2,000 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the sale, the chief executive officer now directly owns 168,096 shares of the company’s stock, valued at $220,583,976. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Justine Page sold 110 shares of the stock in a transaction that occurred on Wednesday, April 10th. The shares were 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,920 shares of company stock valued at $40,306,667. 2.00% of the stock is currently owned by insiders.

Broadcom Price Performance

NASDAQ AVGO traded up $9.89 on Tuesday, reaching $1,320.58. The company’s stock had a trading volume of 924,229 shares, compared to its average volume of 2,947,030. The firm has a market cap of $611.98 billion, a PE ratio of 48.76, a price-to-earnings-growth ratio of 2.74 and a beta of 1.25. The business has a 50-day moving average price of $1,304.36 and a 200 day moving average price of $1,110.50. Broadcom Inc. has a 52 week low of $601.29 and a 52 week high of $1,438.17. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating 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 firm’s revenue for the quarter was up 34.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $9.83 earnings per share. Sell-side analysts expect that Broadcom Inc. will post 35.95 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were paid a $5.25 dividend. 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 1.59%. Broadcom’s payout ratio is currently 77.84%.

Analyst Upgrades and Downgrades

AVGO has been the subject of several analyst reports. Susquehanna lifted their price objective on shares of Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a research note on Wednesday, February 28th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $1,500.00 target price on shares of Broadcom in a research report on Monday, April 8th. Oppenheimer reissued an “outperform” rating and set a $1,500.00 target price (up previously from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. JPMorgan Chase & Co. reissued an “overweight” rating and set a $1,700.00 target price on shares of Broadcom in a research report on Thursday, March 21st. Finally, Mizuho boosted their target price on shares of Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Three investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and an average price target of $1,281.09.

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.