SYM FINANCIAL Corp Acquires 53 Shares of Broadcom Inc. (NASDAQ:AVGO)

SYM FINANCIAL Corp grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 16.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 368 shares of the semiconductor manufacturer’s stock after acquiring an additional 53 shares during the period. SYM FINANCIAL Corp’s holdings in Broadcom were worth $411,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. BetterWealth LLC increased its position in shares of Broadcom by 1.5% in the fourth quarter. BetterWealth LLC now owns 602 shares of the semiconductor manufacturer’s stock worth $672,000 after purchasing an additional 9 shares during the period. Sargent Investment Group LLC increased its holdings in Broadcom by 1.6% in the 4th quarter. Sargent Investment Group LLC now owns 557 shares of the semiconductor manufacturer’s stock valued at $622,000 after buying an additional 9 shares during the period. Rise Advisors LLC raised its position in shares of Broadcom by 33.3% in the 4th quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock valued at $44,000 after buying an additional 10 shares in the last quarter. CX Institutional lifted its holdings in shares of Broadcom by 0.8% during the 4th quarter. CX Institutional now owns 1,289 shares of the semiconductor manufacturer’s stock worth $1,439,000 after acquiring an additional 10 shares during the period. Finally, Cascade Investment Group Inc. boosted its position in shares of Broadcom by 1.7% during the 4th quarter. Cascade Investment Group Inc. now owns 609 shares of the semiconductor manufacturer’s stock worth $680,000 after acquiring an additional 10 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Up 3.2 %

AVGO stock traded up $39.54 during mid-day trading on Friday, reaching $1,278.11. 2,489,755 shares of the company traded hands, compared to its average volume of 2,435,058. The stock has a market cap of $592.30 billion, a price-to-earnings ratio of 47.37, a P/E/G ratio of 2.52 and a beta of 1.25. Broadcom Inc. has a fifty-two week low of $601.29 and a fifty-two week high of $1,438.17. The firm’s 50 day moving average price is $1,308.66 and its 200 day moving average price is $1,147.78. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The firm had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. During the same quarter in the prior year, the business posted $9.83 EPS. The business’s revenue was up 34.2% compared to the same quarter last year. As a group, equities research analysts predict that Broadcom Inc. will post 35.96 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were issued a $5.25 dividend. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is currently 77.84%.

Analysts Set New Price Targets

AVGO has been the topic of a number of recent analyst reports. Barclays lifted their target price on Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a research report on Wednesday, April 17th. Rosenblatt Securities reiterated a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a research report on Thursday, March 21st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $1,500.00 target price on shares of Broadcom in a research report on Monday, April 8th. Mizuho upped their price target on shares of Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. Finally, Oppenheimer reissued an “outperform” rating and set a $1,500.00 price objective (up previously from $1,100.00) on shares of Broadcom in a report on Friday, March 1st. Three equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,285.41.

Insider Activity at Broadcom

In other news, Director Justine Page sold 110 shares of the stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the completion of the transaction, the director now directly owns 3,125 shares of the company’s stock, valued at approximately $4,134,375. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Broadcom news, CEO Hock E. Tan sold 2,000 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the sale, the chief executive officer now directly owns 168,096 shares of the company’s stock, valued at $220,583,976. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Justine Page sold 110 shares of Broadcom stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the completion of the transaction, the director now owns 3,125 shares of the company’s stock, valued at approximately $4,134,375. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,920 shares of company stock worth $40,306,667. 2.00% of the stock is owned by company insiders.

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.