Signaturefd LLC Grows Position in Broadcom Inc. $AVGO

Signaturefd LLC lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 7.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 96,366 shares of the semiconductor manufacturer’s stock after purchasing an additional 6,268 shares during the quarter. Broadcom comprises 0.5% of Signaturefd LLC’s investment portfolio, making the stock its 28th biggest holding. Signaturefd LLC’s holdings in Broadcom were worth $31,792,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Broadcom in the 2nd quarter worth about $18,579,549,000. Vanguard Group Inc. boosted its position in shares of Broadcom by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 483,442,939 shares of the semiconductor manufacturer’s stock worth $133,261,046,000 after purchasing an additional 6,222,802 shares in the last quarter. Edgewood Management LLC purchased a new stake in shares of Broadcom in the second quarter worth $1,571,438,000. Massachusetts Financial Services Co. MA grew its position in Broadcom by 115.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,017,340 shares of the semiconductor manufacturer’s stock valued at $1,658,680,000 after purchasing an additional 3,224,739 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Broadcom by 272.8% during the second quarter. Assenagon Asset Management S.A. now owns 4,189,531 shares of the semiconductor manufacturer’s stock valued at $1,154,844,000 after buying an additional 3,065,809 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Trading Down 0.1%

NASDAQ:AVGO opened at $343.50 on Thursday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.71 and a quick ratio of 1.58. The firm has a market capitalization of $1.63 trillion, a price-to-earnings ratio of 72.16, a price-to-earnings-growth ratio of 1.16 and a beta of 1.21. Broadcom Inc. has a one year low of $138.10 and a one year high of $414.61. The business has a fifty day moving average price of $361.10 and a 200-day moving average price of $329.81.

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

Broadcom Increases Dividend

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

Insider Activity at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 1,928 shares of Broadcom stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $327.80, for a total transaction of $631,998.40. Following the transaction, the insider owned 23,582 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark David Brazeal sold 38,281 shares of the company’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $327.65, for a total transaction of $12,542,769.65. Following the completion of the transaction, the insider owned 266,494 shares of the company’s stock, valued at approximately $87,316,759.10. The trade was a 12.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 680,701 shares of company stock worth $249,624,757 in the last quarter. 2.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

AVGO has been the subject of several research analyst reports. Wall Street Zen upgraded Broadcom from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Oppenheimer increased their price objective on shares of Broadcom from $435.00 to $450.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. Barclays reaffirmed an “overweight” rating and issued a $500.00 target price (up previously from $450.00) on shares of Broadcom in a research report on Friday, December 12th. Raymond James Financial set a $420.00 price target on Broadcom and gave the company an “outperform” rating in a report on Thursday, November 20th. Finally, KeyCorp restated an “overweight” rating and issued a $500.00 price target (up from $460.00) on shares of Broadcom in a research note on Friday, December 12th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $436.89.

Broadcom Company 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.