Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Insigneo Advisory Services LLC

Insigneo Advisory Services LLC grew its stake in Broadcom Inc. (NASDAQ:AVGO) by 860.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,740 shares of the semiconductor manufacturer’s stock after buying an additional 17,685 shares during the period. Broadcom accounts for about 3.3% of Insigneo Advisory Services LLC’s holdings, making the stock its 5th biggest holding. Insigneo Advisory Services LLC’s holdings in Broadcom were worth $31,693,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Lion Street Advisors LLC boosted its stake in Broadcom by 1.9% during the second quarter. Lion Street Advisors LLC now owns 324 shares of the semiconductor manufacturer’s stock valued at $520,000 after buying an additional 6 shares during the period. Tucker Asset Management LLC boosted its stake in Broadcom by 12.5% during the fourth quarter. Tucker Asset Management LLC now owns 72 shares of the semiconductor manufacturer’s stock valued at $80,000 after buying an additional 8 shares during the period. Buckley Wealth Management LLC boosted its stake in Broadcom by 0.7% during the first quarter. Buckley Wealth Management LLC now owns 1,153 shares of the semiconductor manufacturer’s stock valued at $1,529,000 after buying an additional 8 shares during the period. Legend Financial Advisors Inc. boosted its stake in Broadcom by 72.7% during the first quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 8 shares during the period. Finally, Ascent Wealth Partners LLC boosted its stake in Broadcom by 0.3% during the first quarter. Ascent Wealth Partners LLC now owns 2,964 shares of the semiconductor manufacturer’s stock valued at $3,929,000 after buying an additional 8 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on AVGO shares. Oppenheimer dropped their price target on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a research note on Tuesday, July 16th. Citigroup reaffirmed a “buy” rating and set a $156.00 price target on shares of Broadcom in a research note on Tuesday, June 11th. Truist Financial lifted their price target on Broadcom from $156.60 to $204.50 and gave the stock a “buy” rating in a research note on Thursday, June 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price target on shares of Broadcom in a research note on Friday, September 6th. Finally, UBS Group lowered their target price on Broadcom from $173.50 to $170.00 and set a “buy” rating for the company in a research note on Monday, September 9th. Two analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and an average target price of $189.23.

Insider Buying and Selling

In related news, CEO Hock E. Tan sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total value of $8,168,500.00. Following the sale, the chief executive officer now owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Hock E. Tan sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total value of $8,168,500.00. Following the sale, the chief executive officer now owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Hock E. Tan sold 7,502 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $1,705.95, for a total value of $12,798,036.90. Following the completion of the sale, the chief executive officer now owns 138,191 shares in the company, valued at approximately $235,746,936.45. The disclosure for this sale can be found here. Insiders have sold 82,702 shares of company stock worth $25,206,941 in the last 90 days. Insiders own 2.00% of the company’s stock.

Broadcom Stock Up 1.1 %

AVGO stock opened at $174.84 on Wednesday. Broadcom Inc. has a fifty-two week low of $80.44 and a fifty-two week high of $185.16. The business’s 50 day moving average price is $156.95 and its two-hundred day moving average price is $147.42. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The company has a market capitalization of $813.86 billion, a price-to-earnings ratio of 7.52, a price-to-earnings-growth ratio of 2.55 and a beta of 1.16.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. During the same quarter in the prior year, the business earned $0.95 EPS. The business’s revenue for the quarter was up 47.3% on a year-over-year basis. As a group, analysts forecast that Broadcom Inc. will post 3.77 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 19th will be paid a $0.53 dividend. The ex-dividend date is Thursday, September 19th. This represents a $2.12 annualized dividend and a dividend yield of 1.21%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is presently 9.12%.

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.