Syon Capital LLC Acquires 853 Shares of Broadcom Inc. (NASDAQ:AVGO)

Syon Capital LLC lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 22.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 4,728 shares of the semiconductor manufacturer’s stock after acquiring an additional 853 shares during the period. Syon Capital LLC’s holdings in Broadcom were worth $5,278,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. PSI Advisors LLC lifted its holdings in Broadcom by 66.7% during the 4th quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock valued at $28,000 after purchasing an additional 10 shares during the last quarter. BKM Wealth Management LLC bought a new position in Broadcom during the 4th quarter valued at about $29,000. CKW Financial Group bought a new position in Broadcom during the 4th quarter valued at about $30,000. Bfsg LLC bought a new position in Broadcom during the 4th quarter valued at about $35,000. Finally, Macroview Investment Management LLC acquired a new stake in Broadcom in the 3rd quarter valued at about $29,000. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Up 3.8 %

Shares of AVGO stock traded up $49.65 during trading on Friday, reaching $1,344.07. The company’s stock had a trading volume of 2,386,896 shares, compared to its average volume of 2,928,217. The business has a fifty day moving average price of $1,304.73 and a 200-day moving average price of $1,130.68. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. The company has a market cap of $622.87 billion, a price-to-earnings ratio of 49.65, a price-to-earnings-growth ratio of 2.56 and a beta of 1.25. Broadcom Inc. has a one year low of $601.29 and a one year high of $1,438.17.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. The business had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The firm’s revenue for the quarter was up 34.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $9.83 earnings per share. Analysts anticipate that Broadcom Inc. will post 35.96 earnings per share for the current year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were given a dividend of $5.25 per share. This represents a $21.00 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is currently 77.84%.

Insiders Place Their Bets

In other Broadcom news, insider Mark David Brazeal sold 2,500 shares of the company’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $1,318.97, for a total transaction of $3,297,425.00. Following the sale, the insider now directly owns 46,974 shares of the company’s stock, valued at $61,957,296.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the transaction, the director now directly owns 4,643 shares in the company, valued at $5,991,048.62. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Mark David Brazeal sold 2,500 shares of the company’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $1,318.97, for a total transaction of $3,297,425.00. Following the completion of the transaction, the insider now owns 46,974 shares in the company, valued at $61,957,296.78. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,920 shares of company stock valued at $40,306,667. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. TD Cowen upgraded shares of Broadcom from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $1,400.00 to $1,500.00 in a research report on Thursday, March 21st. Benchmark reiterated a “buy” rating and set a $1,720.00 price target on shares of Broadcom in a research report on Thursday, March 21st. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $1,700.00 price target on shares of Broadcom in a research report on Thursday, March 21st. Mizuho lifted their price target on shares of Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $1,500.00 price target on shares of Broadcom in a research report on Thursday, March 21st. Three analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $1,285.41.

Broadcom Company 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.