Sig Brokerage LP Acquires New Shares in Broadcom Inc. (NASDAQ:AVGO)

Sig Brokerage LP acquired a new stake in Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,095 shares of the semiconductor manufacturer’s stock, valued at approximately $718,000.

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

Insider Activity

In other news, Director Henry Samueli sold 663,976 shares of the business’s stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the completion of the sale, the director now owns 38,798,721 shares in the company, valued at $7,045,847,733.60. The trade was a 1.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Mark David Brazeal sold 30,000 shares of the company’s stock in a transaction 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 sale, the insider now owns 490,956 shares of the company’s stock, valued at $95,564,585.40. This trade represents a 5.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 719,776 shares of company stock worth $131,065,542 over the last quarter. 2.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on AVGO shares. Barclays cut their price target on Broadcom from $260.00 to $215.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Morgan Stanley lifted their price target on Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. Bank of America cut their price target on Broadcom from $260.00 to $240.00 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. Citigroup cut their price target on Broadcom from $220.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. Finally, Truist Financial lifted their price target on Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a research note on Friday, March 7th. Three investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $229.48.

Broadcom Trading Up 0.2%

NASDAQ AVGO opened at $232.64 on Friday. The company has a market cap of $1.09 trillion, a price-to-earnings ratio of 189.76, a P/E/G ratio of 2.29 and a beta of 1.04. Broadcom Inc. has a 52 week low of $128.50 and a 52 week high of $251.88. The business has a 50 day moving average price of $186.31 and a 200-day moving average price of $198.91. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98.

Broadcom announced that its Board of Directors has initiated a stock buyback program on Monday, April 7th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the semiconductor manufacturer to reacquire up to 1.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Broadcom Announces Dividend

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

Broadcom 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.