Insigneo Advisory Services LLC Purchases 3,206 Shares of Broadcom Inc. $AVGO

Insigneo Advisory Services LLC lifted its position in shares of Broadcom Inc. (NASDAQ:AVGOFree Report) by 11.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,696 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,206 shares during the quarter. Broadcom accounts for 0.7% of Insigneo Advisory Services LLC’s investment portfolio, making the stock its 22nd largest holding. Insigneo Advisory Services LLC’s holdings in Broadcom were worth $10,127,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Longfellow Investment Management Co. LLC bought a new position in shares of Broadcom in the second quarter valued at $27,000. Teachers Insurance & Annuity Association of America acquired a new stake in shares of Broadcom in the 2nd quarter worth about $28,000. New England Capital Financial Advisors LLC bought a new position in Broadcom in the 2nd quarter valued at about $31,000. JCIC Asset Management Inc. bought a new position in Broadcom in the 3rd quarter valued at about $31,000. Finally, Manning & Napier Advisors LLC bought a new stake in Broadcom during the 3rd quarter worth approximately $34,000. 76.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on AVGO shares. Wells Fargo & Company raised Broadcom from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $410.00 to $430.00 in a research report on Thursday, January 15th. KeyCorp restated an “overweight” rating and issued a $500.00 price objective (up from $460.00) on shares of Broadcom in a research note on Friday, December 12th. Bank of America lifted their target price on Broadcom from $460.00 to $500.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Wall Street Zen raised shares of Broadcom from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Finally, Rosenblatt Securities raised their price objective on shares of Broadcom from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Tuesday, December 9th. Two research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $432.13.

Check Out Our Latest Analysis on AVGO

Broadcom Price Performance

AVGO opened at $313.84 on Wednesday. The firm has a 50-day moving average price of $335.17 and a 200-day moving average price of $342.86. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $414.61. 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 company has a market capitalization of $1.49 trillion, a price-to-earnings ratio of 65.93, a PEG ratio of 1.02 and a beta of 1.22.

Broadcom (NASDAQ:AVGOGet Free Report) last issued its earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share (EPS) 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 for the quarter was up 28.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.42 EPS. Equities 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. Stockholders of record on Monday, December 22nd were given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.8%. This is an increase from Broadcom’s previous quarterly dividend of $0.59. The ex-dividend date was Monday, December 22nd. Broadcom’s dividend payout ratio (DPR) is 54.62%.

Insider Activity

In other news, CFO Kirsten M. Spears sold 30,000 shares of the company’s stock in a transaction on Wednesday, December 31st. The shares were sold at an average price of $347.82, for a total value of $10,434,600.00. Following the transaction, the chief financial officer owned 277,237 shares of the company’s stock, valued at approximately $96,428,573.34. This represents a 9.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 38,281 shares of the business’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $327.65, for a total value of $12,542,769.65. Following 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 have sold 779,101 shares of company stock valued at $283,804,325 over the last 90 days. Company insiders own 2.00% of the company’s stock.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

Broadcom Company Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc. (NASDAQ:AVGOFree Report).

Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

Receive News & Ratings for Broadcom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadcom and related companies with MarketBeat.com's FREE daily email newsletter.