Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Symphony Financial Ltd. Co.

Symphony Financial Ltd. Co. increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 920.6% during the third quarter, HoldingsChannel.com reports. The fund owned 49,518 shares of the semiconductor manufacturer’s stock after buying an additional 44,666 shares during the period. Broadcom accounts for about 1.4% of Symphony Financial Ltd. Co.’s holdings, making the stock its 21st largest holding. Symphony Financial Ltd. Co.’s holdings in Broadcom were worth $8,536,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Legend Financial Advisors Inc. increased its stake in shares of Broadcom by 72.7% in the 1st quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 8 shares during the last quarter. Castleview Partners LLC grew its holdings in shares of Broadcom by 1,030.8% in the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 134 shares during the period. Richardson Capital Management LLC acquired a new stake in Broadcom during the first quarter worth about $29,000. Delta Asset Management LLC TN increased its position in Broadcom by 242.9% during the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock worth $32,000 after purchasing an additional 17 shares during the last quarter. Finally, Redmont Wealth Advisors LLC purchased a new position in Broadcom during the first quarter worth about $36,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total value of $8,168,500.00. Following the sale, the chief executive officer now directly owns 1,331,910 shares in the company, valued at $217,594,136.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Broadcom news, insider Charlie B. Kawwas sold 15,950 shares of the stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $181.44, for a total value of $2,893,968.00. Following the transaction, the insider now directly owns 737,330 shares in the company, valued at $133,781,155.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the sale, the chief executive officer now owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 311,080 shares of company stock worth $53,540,590. Corporate insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on AVGO shares. Truist Financial increased their price target on shares of Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. UBS Group lowered their price objective on Broadcom from $173.50 to $170.00 and set a “buy” rating for the company in a research report on Monday, September 9th. The Goldman Sachs Group lifted their target price on Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, September 6th. William Blair initiated coverage on Broadcom in a research note on Wednesday, September 18th. They issued an “outperform” rating on the stock. Finally, Morgan Stanley raised their price objective on Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $191.54.

Broadcom Trading Down 1.2 %

AVGO opened at $171.35 on Friday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The stock has a market capitalization of $797.61 billion, a price-to-earnings ratio of 7.37, a PEG ratio of 2.99 and a beta of 1.17. The business has a fifty day moving average price of $167.93 and a 200 day moving average price of $154.14. Broadcom Inc. has a 12 month low of $81.83 and a 12 month high of $186.42.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. The firm had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business’s quarterly revenue was up 47.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.95 earnings per share. Sell-side analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were given a dividend of $0.53 per share. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom’s payout ratio is 9.12%.

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.