Signet Financial Management LLC Has $12.28 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Signet Financial Management LLC trimmed its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 52,984 shares of the semiconductor manufacturer’s stock after selling 1,223 shares during the period. Broadcom comprises 1.6% of Signet Financial Management LLC’s holdings, making the stock its 9th biggest holding. Signet Financial Management LLC’s holdings in Broadcom were worth $12,284,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AVGO. Marion Wealth Management grew its stake in shares of Broadcom by 51.8% during the fourth quarter. Marion Wealth Management now owns 2,930 shares of the semiconductor manufacturer’s stock valued at $679,000 after buying an additional 1,000 shares during the last quarter. Courier Capital LLC increased its stake in Broadcom by 6.4% in the fourth quarter. Courier Capital LLC now owns 7,158 shares of the semiconductor manufacturer’s stock worth $1,660,000 after purchasing an additional 430 shares during the period. Parisi Gray Wealth Management lifted its position in shares of Broadcom by 4.1% during the fourth quarter. Parisi Gray Wealth Management now owns 12,153 shares of the semiconductor manufacturer’s stock worth $2,817,000 after purchasing an additional 483 shares during the last quarter. Miracle Mile Advisors LLC boosted its stake in shares of Broadcom by 43.6% during the fourth quarter. Miracle Mile Advisors LLC now owns 77,894 shares of the semiconductor manufacturer’s stock valued at $18,059,000 after purchasing an additional 23,636 shares during the period. Finally, Northstar Advisory Group LLC bought a new position in shares of Broadcom in the fourth quarter worth about $1,129,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Broadcom

In related news, Director Check Kian Low sold 48,000 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $235.35, for a total value of $11,296,800.00. Following the completion of the transaction, the director now owns 113,050 shares in the company, valued at $26,606,317.50. This trade represents a 29.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Harry L. You sold 6,540 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total value of $1,569,600.00. Following the sale, the director now owns 30,450 shares in the company, valued at approximately $7,308,000. The trade was a 17.68 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 191,278 shares of company stock worth $44,964,800. Company insiders own 2.00% of the company’s stock.

Broadcom Trading Up 0.4 %

Shares of NASDAQ:AVGO opened at $225.29 on Tuesday. The business’s 50-day moving average is $198.03 and its 200 day moving average is $176.17. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. Broadcom Inc. has a 1 year low of $109.02 and a 1 year high of $251.88. The firm has a market capitalization of $1.06 trillion, a P/E ratio of 195.73, a P/E/G ratio of 2.15 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.03. The firm had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.98 earnings per share. On average, research analysts predict that Broadcom Inc. will post 3.79 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a $0.59 dividend. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.05%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is currently 191.87%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $240.00 price objective on shares of Broadcom in a research report on Wednesday, December 11th. UBS Group increased their price objective on Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft raised their price objective on Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Barclays upped their target price on Broadcom from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Finally, Morgan Stanley raised their price target on Broadcom from $233.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $223.54.

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.