Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Syntegra Private Wealth Group LLC

Syntegra Private Wealth Group LLC boosted its stake in Broadcom Inc. (NASDAQ:AVGO) by 16.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,022 shares of the semiconductor manufacturer’s stock after buying an additional 143 shares during the period. Syntegra Private Wealth Group LLC’s holdings in Broadcom were worth $1,141,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Morningstar Investment Services LLC grew its position in Broadcom by 50.1% in the 2nd quarter. Morningstar Investment Services LLC now owns 755 shares of the semiconductor manufacturer’s stock valued at $649,000 after buying an additional 252 shares in the last quarter. RMR Wealth Builders boosted its position in shares of Broadcom by 6.5% during the 3rd quarter. RMR Wealth Builders now owns 6,362 shares of the semiconductor manufacturer’s stock valued at $5,284,000 after purchasing an additional 388 shares in the last quarter. Czech National Bank boosted its position in shares of Broadcom by 46.1% during the 3rd quarter. Czech National Bank now owns 72,129 shares of the semiconductor manufacturer’s stock valued at $59,909,000 after purchasing an additional 22,774 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Broadcom during the 2nd quarter valued at about $4,684,000. Finally, Aspen Grove Capital LLC boosted its position in shares of Broadcom by 3.5% during the 2nd quarter. Aspen Grove Capital LLC now owns 1,486 shares of the semiconductor manufacturer’s stock valued at $1,289,000 after purchasing an additional 50 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling

In other Broadcom news, CFO Kirsten M. Spears sold 2,500 shares of the business’s stock in a transaction on Friday, January 5th. The shares were sold at an average price of $1,043.14, for a total value of $2,607,850.00. Following the sale, the chief financial officer now owns 26,880 shares of the company’s stock, valued at approximately $28,039,603.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Charlie B. Kawwas sold 5,000 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the sale, the insider now owns 16,575 shares in the company, valued at approximately $22,276,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kirsten M. Spears sold 2,500 shares of the business’s stock in a transaction on Friday, January 5th. The shares were sold at an average price of $1,043.14, for a total transaction of $2,607,850.00. Following the completion of the sale, the chief financial officer now owns 26,880 shares in the company, valued at approximately $28,039,603.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,810 shares of company stock valued at $26,107,692. 2.00% of the stock is owned by company insiders.

Broadcom Stock Up 0.5 %

NASDAQ AVGO traded up $6.68 during trading on Thursday, reaching $1,325.41. The company’s stock had a trading volume of 1,984,981 shares, compared to its average volume of 3,096,293. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $614.22 billion, a PE ratio of 49.04, a PEG ratio of 2.81 and a beta of 1.26. The business has a 50-day moving average price of $1,271.85 and a 200-day moving average price of $1,063.26. Broadcom Inc. has a 1-year low of $601.29 and a 1-year high of $1,438.17.

Broadcom (NASDAQ:AVGO) last issued 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 business had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. During the same period in the previous year, the company earned $9.83 earnings per share. Broadcom’s revenue for the quarter was up 34.2% on a year-over-year basis. On average, research analysts forecast that Broadcom Inc. will post 36.8 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Thursday, March 21st will be given a dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date is Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is currently 77.84%.

Analyst Ratings Changes

AVGO has been the subject of several research reports. Susquehanna raised their price objective on shares of Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a research report on Wednesday, February 28th. TD Cowen raised shares of Broadcom from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $1,400.00 to $1,500.00 in a research report on Thursday, March 21st. Mizuho lifted their target price 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. Rosenblatt Securities reissued a “buy” rating and issued a $1,500.00 target price on shares of Broadcom in a research report on Thursday, March 21st. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $1,325.00 target price on shares of Broadcom in a research report on Friday, January 19th. Three research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat, Broadcom has an average rating of “Moderate Buy” and an average target price of $1,230.18.

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.