Signaturefd LLC Increases Holdings in Broadcom Inc. $AVGO

Signaturefd LLC lifted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 7.0% in the third quarter, HoldingsChannel.com reports. The fund owned 96,366 shares of the semiconductor manufacturer’s stock after buying an additional 6,268 shares during the quarter. Broadcom comprises 0.5% of Signaturefd LLC’s portfolio, making the stock its 28th biggest holding. Signaturefd LLC’s holdings in Broadcom were worth $31,792,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AVGO. Sawyer & Company Inc raised its position in shares of Broadcom by 62.1% during the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock valued at $26,000 after buying an additional 36 shares during the last quarter. Longfellow Investment Management Co. LLC purchased a new position in Broadcom during the second quarter valued at $27,000. Legend Financial Advisors Inc. purchased a new position in Broadcom during the second quarter valued at $28,000. Teachers Insurance & Annuity Association of America purchased a new stake in Broadcom in the 2nd quarter worth $28,000. Finally, LGT Financial Advisors LLC bought a new position in shares of Broadcom during the 2nd quarter valued at about $31,000. Institutional investors own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

AVGO has been the topic of several research reports. UBS Group set a $475.00 target price on Broadcom and gave the stock a “buy” rating in a report on Monday, December 15th. KeyCorp restated an “overweight” rating and set a $500.00 price target (up previously from $460.00) on shares of Broadcom in a report on Friday, December 12th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Broadcom in a report on Monday, December 29th. Benchmark boosted their price target on shares of Broadcom from $385.00 to $485.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Finally, Truist Financial increased their price objective on shares of Broadcom from $500.00 to $510.00 and gave the company a “buy” rating in a research report on Friday, December 19th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $436.89.

Insiders Place Their Bets

In other Broadcom news, insider Charlie B. Kawwas sold 1,928 shares of the business’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $327.80, for a total transaction of $631,998.40. Following the completion of the transaction, the insider owned 23,582 shares in the company, valued at $7,730,179.60. The trade was a 7.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Mark David Brazeal sold 25,921 shares of the stock in a transaction that occurred on Friday, December 26th. The stock was sold at an average price of $352.07, for a total value of $9,126,006.47. Following the completion of the sale, the insider owned 240,573 shares in the company, valued at approximately $84,698,536.11. The trade was a 9.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 680,701 shares of company stock valued at $249,624,757 over the last quarter. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Down 0.1%

Shares of AVGO opened at $343.50 on Thursday. The company has a quick ratio of 1.58, a current ratio of 1.71 and a debt-to-equity ratio of 0.76. The business has a fifty day moving average of $361.10 and a 200 day moving average of $329.81. The company has a market cap of $1.63 trillion, a PE ratio of 72.16, a P/E/G ratio of 1.16 and a beta of 1.21. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $414.61.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $0.08. The business had revenue of $18.02 billion for the quarter, compared to analysts’ expectations of $17.46 billion. Broadcom had a net margin of 36.20% and a return on equity of 37.45%. The business’s revenue was up 28.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.42 earnings per share. On average, sell-side analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 22nd were given a $0.65 dividend. This is an increase from Broadcom’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Monday, December 22nd. This represents a $2.60 dividend on an annualized basis and a yield of 0.8%. Broadcom’s dividend payout ratio is currently 54.62%.

Broadcom Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.