Sig Brokerage LP Makes New $718,000 Investment in Broadcom Inc. (NASDAQ:AVGO)

Sig Brokerage LP acquired a new position in Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 3,095 shares of the semiconductor manufacturer’s stock, valued at approximately $718,000.

Several other hedge funds and other institutional investors have also bought and sold shares of AVGO. Regent Peak Wealth Advisors LLC boosted its position in Broadcom by 3.0% in the fourth quarter. Regent Peak Wealth Advisors LLC now owns 13,309 shares of the semiconductor manufacturer’s stock worth $3,086,000 after purchasing an additional 386 shares during the last quarter. RMR Wealth Builders boosted its position in Broadcom by 1.0% in the fourth quarter. RMR Wealth Builders now owns 70,370 shares of the semiconductor manufacturer’s stock worth $16,315,000 after purchasing an additional 676 shares during the last quarter. Sovereign Financial Group Inc. boosted its position in Broadcom by 15.1% in the fourth quarter. Sovereign Financial Group Inc. now owns 5,924 shares of the semiconductor manufacturer’s stock worth $1,373,000 after purchasing an additional 778 shares during the last quarter. Accurate Wealth Management LLC lifted its position in shares of Broadcom by 6.8% during the 4th quarter. Accurate Wealth Management LLC now owns 18,743 shares of the semiconductor manufacturer’s stock valued at $4,206,000 after buying an additional 1,194 shares during the last quarter. Finally, Pines Wealth Management LLC purchased a new position in shares of Broadcom during the 4th quarter valued at $4,854,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on AVGO shares. Citigroup dropped their price target on Broadcom from $220.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. Seaport Res Ptn raised Broadcom to a “strong-buy” rating in a research report on Wednesday, April 30th. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price target on shares of Broadcom in a research report on Friday, March 7th. Benchmark reiterated a “buy” rating and set a $255.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Finally, Truist Financial boosted their price objective on Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a research note on Friday, March 7th. Three research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $229.48.

Broadcom Price Performance

Shares of Broadcom stock opened at $232.64 on Friday. The firm has a market capitalization of $1.09 trillion, a PE ratio of 189.76, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04. Broadcom Inc. has a 12 month low of $128.50 and a 12 month high of $251.88. The business’s 50-day moving average price is $186.31 and its 200-day moving average price is $198.91. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom’s dividend payout ratio is presently 113.46%.

Broadcom declared that its board has approved a share buyback plan on Monday, April 7th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor manufacturer to buy up to 1.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $194.65, for a total value of $5,839,500.00. Following the completion of the sale, the insider now owns 490,956 shares in the company, valued at approximately $95,564,585.40. This trade represents a 5.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Justine Page sold 800 shares of the firm’s stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $185.00, for a total value of $148,000.00. Following the completion of the transaction, the director now owns 25,380 shares of the company’s stock, valued at approximately $4,695,300. The trade was a 3.06% decrease in their position. The disclosure for this sale can be found here. Insiders sold 719,776 shares of company stock worth $131,065,542 in the last ninety days. 2.00% of the stock is owned by company insiders.

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.