Signature Resources Capital Management LLC Acquires New Stake in Broadcom Inc. (NASDAQ:AVGO)

Signature Resources Capital Management LLC bought a new stake in Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 74 shares of the semiconductor manufacturer’s stock, valued at approximately $83,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pathway Financial Advisors LLC boosted its position in Broadcom by 11.1% during the fourth quarter. Pathway Financial Advisors LLC now owns 933 shares of the semiconductor manufacturer’s stock worth $1,041,000 after acquiring an additional 93 shares during the last quarter. Benjamin Edwards Inc. grew its position in shares of Broadcom by 3.0% in the fourth quarter. Benjamin Edwards Inc. now owns 3,141 shares of the semiconductor manufacturer’s stock valued at $3,506,000 after purchasing an additional 91 shares during the period. Stegent Equity Advisors Inc. acquired a new position in Broadcom in the fourth quarter valued at $271,000. Intrust Bank NA lifted its position in Broadcom by 1.7% during the fourth quarter. Intrust Bank NA now owns 6,070 shares of the semiconductor manufacturer’s stock worth $6,776,000 after buying an additional 99 shares during the period. Finally, Alpha Omega Wealth Management LLC boosted its stake in Broadcom by 66.6% in the 4th quarter. Alpha Omega Wealth Management LLC now owns 4,261 shares of the semiconductor manufacturer’s stock worth $4,756,000 after buying an additional 1,704 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on AVGO shares. Oppenheimer reiterated an “outperform” rating and set a $1,500.00 price objective (up from $1,100.00) on shares of Broadcom in a report on Friday, March 1st. TD Cowen raised shares of Broadcom from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $1,400.00 to $1,500.00 in a research note on Thursday, March 21st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a research note on Monday, April 8th. Barclays increased their target price on Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $1,325.00 price target on shares of Broadcom in a research report on Friday, January 19th. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,285.41.

Broadcom Stock Up 3.2 %

Shares of AVGO stock traded up $39.54 during mid-day trading on Friday, reaching $1,278.11. 2,489,755 shares of the company were exchanged, compared to its average volume of 2,435,058. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. The business’s 50 day simple moving average is $1,308.66 and its 200 day simple moving average is $1,147.78. The company has a market capitalization of $592.30 billion, a P/E ratio of 47.37, a P/E/G ratio of 2.60 and a beta of 1.25. Broadcom Inc. has a fifty-two week low of $601.29 and a fifty-two week high of $1,438.17.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, topping the consensus estimate of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The company had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. During the same quarter in the previous year, the firm earned $9.83 EPS. The company’s revenue was up 34.2% on a year-over-year basis. Research analysts predict that Broadcom Inc. will post 35.96 earnings per share for the current year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were issued a dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio is presently 77.84%.

Insider Transactions at Broadcom

In related news, Director Eddy W. Hartenstein sold 3,150 shares of the firm’s stock in a transaction on 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 directly owns 4,643 shares in the company, valued at $5,991,048.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Eddy W. Hartenstein sold 3,150 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the completion of the sale, the director now owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 transaction of $12,715,270.80. Following the completion of 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 quarter, insiders sold 29,920 shares of company stock worth $40,306,667. 2.00% of the stock is currently owned by corporate insiders.

About Broadcom

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.