Sigma Investment Counselors Inc. Increases Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Sigma Investment Counselors Inc. increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 286.9% in the 4th quarter, HoldingsChannel reports. The firm owned 15,068 shares of the semiconductor manufacturer’s stock after buying an additional 11,173 shares during the quarter. Sigma Investment Counselors Inc.’s holdings in Broadcom were worth $3,493,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AVGO. MONECO Advisors LLC raised its stake in Broadcom by 2.2% in the 4th quarter. MONECO Advisors LLC now owns 15,411 shares of the semiconductor manufacturer’s stock valued at $3,573,000 after purchasing an additional 335 shares during the last quarter. Lansing Street Advisors grew its holdings in shares of Broadcom by 6.0% during the fourth quarter. Lansing Street Advisors now owns 1,619 shares of the semiconductor manufacturer’s stock worth $375,000 after buying an additional 91 shares in the last quarter. Howard Capital Management Inc. grew its holdings in shares of Broadcom by 9.9% during the fourth quarter. Howard Capital Management Inc. now owns 259,062 shares of the semiconductor manufacturer’s stock worth $60,061,000 after buying an additional 23,242 shares in the last quarter. New England Professional Planning Group Inc. raised its position in shares of Broadcom by 4.5% in the fourth quarter. New England Professional Planning Group Inc. now owns 2,090 shares of the semiconductor manufacturer’s stock valued at $485,000 after buying an additional 90 shares during the last quarter. Finally, Wealthspire Advisors LLC lifted its stake in shares of Broadcom by 6.1% during the fourth quarter. Wealthspire Advisors LLC now owns 41,508 shares of the semiconductor manufacturer’s stock valued at $9,623,000 after buying an additional 2,387 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling

In other news, insider Mark David Brazeal sold 20,168 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the completion of the sale, the insider now directly owns 321,660 shares in the company, valued at $76,809,191.40. This trade represents a 5.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Harry L. You sold 6,540 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total value of $1,569,600.00. Following the completion of the transaction, the director now owns 30,450 shares in the company, valued at approximately $7,308,000. This trade represents a 17.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock valued at $44,964,800 in the last quarter. Company insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $207.93 on Tuesday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88. The company has a market capitalization of $974.64 billion, a price-to-earnings ratio of 169.60, a PEG ratio of 2.37 and a beta of 1.02. The business has a 50-day moving average of $229.25 and a 200-day moving average of $190.93.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. The firm had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. Broadcom’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.98 EPS. On average, equities analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.13%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s dividend payout ratio (DPR) is presently 192.50%.

Wall Street Analysts Forecast Growth

AVGO has been the subject of several recent analyst reports. Piper Sandler lifted their target price on shares of Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Benchmark reaffirmed a “buy” rating and issued a $255.00 price objective (up previously from $210.00) on shares of Broadcom in a research report on Friday, December 13th. Robert W. Baird upped their target price on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Susquehanna raised their price target on Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research note on Friday, December 13th. Finally, Citigroup upped their price objective on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $225.04.

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.