SYM FINANCIAL Corp Boosts Stock Position in Broadcom Inc. (NASDAQ:AVGO)

SYM FINANCIAL Corp increased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 16.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 368 shares of the semiconductor manufacturer’s stock after purchasing an additional 53 shares during the period. SYM FINANCIAL Corp’s holdings in Broadcom were worth $411,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. AtonRa Partners purchased a new position in shares of Broadcom during the 3rd quarter worth about $206,000. Miracle Mile Advisors LLC lifted its stake in shares of Broadcom by 1.0% during the 3rd quarter. Miracle Mile Advisors LLC now owns 3,983 shares of the semiconductor manufacturer’s stock worth $3,308,000 after acquiring an additional 40 shares during the last quarter. Means Investment CO. Inc. boosted its holdings in Broadcom by 40.7% during the 3rd quarter. Means Investment CO. Inc. now owns 377 shares of the semiconductor manufacturer’s stock valued at $313,000 after acquiring an additional 109 shares during the period. Northstar Asset Management LLC grew its position in Broadcom by 34.0% in the 3rd quarter. Northstar Asset Management LLC now owns 315 shares of the semiconductor manufacturer’s stock valued at $262,000 after acquiring an additional 80 shares during the last quarter. Finally, Sage Mountain Advisors LLC increased its stake in Broadcom by 2.1% in the third quarter. Sage Mountain Advisors LLC now owns 6,379 shares of the semiconductor manufacturer’s stock worth $5,298,000 after purchasing an additional 131 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Stock Performance

Shares of NASDAQ:AVGO traded up $39.54 during trading on Friday, hitting $1,278.11. The stock had a trading volume of 2,489,755 shares, compared to its average volume of 2,435,058. 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 Inc. has a 12-month low of $601.29 and a 12-month high of $1,438.17. The stock has a market capitalization of $592.30 billion, a price-to-earnings ratio of 47.37, a price-to-earnings-growth ratio of 2.52 and a beta of 1.25. The stock has a 50-day simple moving average of $1,308.66 and a two-hundred day simple moving average of $1,147.78.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $11.79 billion. During the same quarter in the prior year, the business earned $9.83 earnings per share. The business’s quarterly revenue was up 34.2% compared to the same quarter last year. On average, equities research analysts expect that Broadcom Inc. will post 35.96 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were given a $5.25 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 annualized dividend and a yield of 1.64%. Broadcom’s dividend payout ratio is presently 77.84%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AVGO. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $1,700.00 price objective on shares of Broadcom in a report on Thursday, March 21st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $1,500.00 target price on shares of Broadcom in a report on Monday, April 8th. Barclays lifted their price target on Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a report on Wednesday, April 17th. Rosenblatt Securities restated a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. Finally, Evercore ISI began coverage on Broadcom in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $1,620.00 target price on the stock. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,285.41.

Insider Transactions at Broadcom

In other Broadcom news, Director Justine Page sold 110 shares of the stock in a transaction 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 transaction, the director now directly owns 3,125 shares of the company’s stock, valued at $4,134,375. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Broadcom news, Director Justine Page sold 110 shares of Broadcom stock in a transaction 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 sale, the director now owns 3,125 shares of the company’s stock, valued at approximately $4,134,375. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mark David Brazeal sold 2,500 shares of the stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $1,316.46, for a total transaction of $3,291,150.00. Following the completion of the sale, the insider now owns 41,974 shares of the company’s stock, valued at $55,257,092.04. The disclosure for this sale can be found here. Insiders have sold 29,920 shares of company stock valued at $40,306,667 in the last 90 days. 2.00% of the stock is currently owned by company insiders.

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.