Signet Financial Management LLC Has $6.53 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Signet Financial Management LLC lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 26.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,850 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,236 shares during the quarter. Broadcom accounts for 1.0% of Signet Financial Management LLC’s holdings, making the stock its 22nd biggest holding. Signet Financial Management LLC’s holdings in Broadcom were worth $6,530,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the stock. Macroview Investment Management LLC bought a new stake in Broadcom during the third quarter worth $29,000. BKM Wealth Management LLC bought a new position in shares of Broadcom in the fourth quarter worth $29,000. CKW Financial Group bought a new position in shares of Broadcom in the fourth quarter worth $30,000. Indiana Trust & Investment Management CO purchased a new position in shares of Broadcom in the third quarter worth about $32,000. Finally, VitalStone Financial LLC increased its holdings in shares of Broadcom by 71.4% in the first quarter. VitalStone Financial LLC now owns 60 shares of the semiconductor manufacturer’s stock worth $40,000 after buying an additional 25 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a research report on Monday, April 8th. Barclays started coverage on Broadcom in a research report on Wednesday, March 20th. They set an “overweight” rating and a $1,405.00 price objective on the stock. Evercore ISI assumed coverage on Broadcom in a research note on Tuesday. They issued an “outperform” rating and a $1,620.00 price target on the stock. TD Cowen upgraded Broadcom from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $1,400.00 to $1,500.00 in a research note on Thursday, March 21st. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $1,500.00 price target on shares of Broadcom in a research report on Thursday, March 21st. Three investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,281.09.

Insiders Place Their Bets

In other Broadcom news, Director Kenneth Hao sold 9,160 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the completion of the sale, the director now directly owns 45 shares in the company, valued at approximately $62,465.85. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the transaction, the director now owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kenneth Hao sold 9,160 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the transaction, the director now directly owns 45 shares in the company, valued at approximately $62,465.85. The disclosure for this sale can be found here. In the last three months, insiders sold 29,920 shares of company stock worth $40,306,667. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

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

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.95 by $2.04. The business had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The company’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 EPS. As a group, sell-side analysts forecast that Broadcom Inc. will post 35.95 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid a dividend of $5.25 per share. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 annualized dividend and a yield of 1.59%. Broadcom’s dividend payout ratio (DPR) is currently 77.84%.

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.