Signature Estate & Investment Advisors LLC Purchases 335,490 Shares of Broadcom Inc. (NASDAQ:AVGO)

Signature Estate & Investment Advisors LLC increased its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 880.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 373,602 shares of the semiconductor manufacturer's stock after purchasing an additional 335,490 shares during the quarter. Broadcom makes up about 1.5% of Signature Estate & Investment Advisors LLC's portfolio, making the stock its 17th biggest position. Signature Estate & Investment Advisors LLC's holdings in Broadcom were worth $64,446,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of AVGO. Hillsdale Investment Management Inc. raised its stake in Broadcom by 35.5% in the 1st quarter. Hillsdale Investment Management Inc. now owns 420 shares of the semiconductor manufacturer's stock worth $557,000 after acquiring an additional 110 shares during the last quarter. PAX Financial Group LLC raised its stake in Broadcom by 16.8% in the 1st quarter. PAX Financial Group LLC now owns 230 shares of the semiconductor manufacturer's stock worth $305,000 after acquiring an additional 33 shares during the last quarter. Delta Asset Management LLC TN raised its stake in Broadcom by 242.9% in the 1st quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer's stock worth $32,000 after acquiring an additional 17 shares during the last quarter. PYA Waltman Capital LLC raised its stake in shares of Broadcom by 1.1% during the 1st quarter. PYA Waltman Capital LLC now owns 2,071 shares of the semiconductor manufacturer's stock valued at $2,744,000 after buying an additional 23 shares during the last quarter. Finally, Capitolis Liquid Global Markets LLC raised its stake in shares of Broadcom by 2,234.0% during the 1st quarter. Capitolis Liquid Global Markets LLC now owns 116,700 shares of the semiconductor manufacturer's stock valued at $154,675,000 after buying an additional 111,700 shares during the last quarter. Institutional investors own 76.43% of the company's stock.

Insider Buying and Selling at Broadcom

In other news, CEO Hock E. Tan sold 150,000 shares of the business's stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $172.94, for a total value of $25,941,000.00. Following the completion of the transaction, the chief executive officer now owns 1,181,910 shares of the company's stock, valued at $204,399,515.40. The trade was a 11.26 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Charlie B. Kawwas sold 25,200 shares of the company's stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the completion of the transaction, the insider now directly owns 753,280 shares of the company's stock, valued at approximately $126,754,425.60. The trade was a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Trading Up 0.5 %

AVGO stock traded up $0.83 during midday trading on Monday, reaching $165.67. 17,848,725 shares of the company's stock traded hands, compared to its average volume of 29,473,676. The business has a 50-day moving average price of $172.84 and a two-hundred day moving average price of $159.35. Broadcom Inc. has a fifty-two week low of $90.31 and a fifty-two week high of $186.42. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The company has a market capitalization of $773.77 billion, a P/E ratio of 143.13, a PEG ratio of 1.94 and a beta of 1.17.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating the consensus estimate of $1.20 by $0.04. The firm had revenue of $13.07 billion for the quarter, compared to analysts' expectations of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm's revenue was up 47.3% compared to the same quarter last year. During the same period last year, the firm earned $0.95 EPS. Equities research analysts forecast that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 1.28%. This is an increase from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom's payout ratio is presently 184.19%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AVGO. Morgan Stanley lifted their price objective on Broadcom from $176.00 to $180.00 and gave the stock an "overweight" rating in a report on Friday, September 6th. Rosenblatt Securities reduced their price target on shares of Broadcom from $2,400.00 to $240.00 and set a "buy" rating on the stock in a research report on Friday, September 6th. William Blair started coverage on Broadcom in a research report on Wednesday, September 18th. They issued an "outperform" rating on the stock. TD Cowen raised Broadcom to a "strong-buy" rating in a research report on Monday, September 16th. Finally, StockNews.com downgraded shares of Broadcom from a "buy" rating to a "hold" rating in a research note on Tuesday, July 23rd. Two equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $192.79.

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.