Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Syon Capital LLC

Syon Capital LLC cut its stake in Broadcom Inc. (NASDAQ:AVGO) by 3.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,484 shares of the semiconductor manufacturer’s stock after selling 2,019 shares during the period. Broadcom makes up approximately 1.1% of Syon Capital LLC’s investment portfolio, making the stock its 20th biggest position. Syon Capital LLC’s holdings in Broadcom were worth $12,168,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in AVGO. Canton Hathaway LLC acquired a new position in Broadcom in the fourth quarter worth approximately $26,000. Rialto Wealth Management LLC acquired a new stake in shares of Broadcom during the fourth quarter worth $26,000. Sellwood Investment Partners LLC acquired a new position in shares of Broadcom in the 4th quarter valued at $32,000. Bellevue Asset Management LLC purchased a new position in Broadcom in the 4th quarter worth about $33,000. Finally, Synergy Investment Management LLC purchased a new stake in Broadcom during the fourth quarter valued at about $35,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Citigroup cut their price target on shares of Broadcom from $220.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, April 11th. Morgan Stanley lifted their price target on Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, March 7th. Truist Financial raised their price objective on Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a research report on Friday, March 7th. Benchmark restated a “buy” rating and set a $255.00 price target on shares of Broadcom in a report on Friday, March 7th. Finally, Barclays cut their target price on shares of Broadcom from $260.00 to $215.00 and set an “overweight” rating for the company in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $229.48.

Insiders Place Their Bets

In related news, Director Henry Samueli sold 663,976 shares of the company’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the transaction, the director now owns 38,798,721 shares in the company, valued at $7,045,847,733.60. This represents a 1.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Justine Page sold 800 shares of the company’s stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $185.00, for a total transaction of $148,000.00. Following the transaction, the director now owns 25,380 shares in the company, valued at $4,695,300. The trade was a 3.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 719,776 shares of company stock valued at $131,065,542. 2.00% of the stock is currently owned by insiders.

Broadcom Stock Performance

Broadcom stock opened at $169.58 on Wednesday. Broadcom Inc. has a 52-week low of $122.33 and a 52-week high of $251.88. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The stock has a fifty day moving average price of $187.11 and a two-hundred day moving average price of $195.98. The firm has a market capitalization of $797.36 billion, a P/E ratio of 138.32, a P/E/G ratio of 2.29 and a beta of 1.05.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were given a $0.59 dividend. The ex-dividend date was Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.39%. Broadcom’s dividend payout ratio (DPR) is presently 113.46%.

Broadcom announced that its board has approved a stock buyback plan on Monday, April 7th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor manufacturer to purchase up to 1.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

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.