SYM FINANCIAL Corp Buys 310 Shares of Broadcom Inc. (NASDAQ:AVGO)

SYM FINANCIAL Corp grew its stake in Broadcom Inc. (NASDAQ:AVGO) by 79.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 700 shares of the semiconductor manufacturer’s stock after acquiring an additional 310 shares during the period. SYM FINANCIAL Corp’s holdings in Broadcom were worth $1,124,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of AVGO. Legend Financial Advisors Inc. grew its stake in shares of Broadcom by 72.7% in the first quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 8 shares in the last quarter. Richardson Capital Management LLC acquired a new position in shares of Broadcom in the first quarter valued at about $29,000. Delta Asset Management LLC TN grew its stake in shares of Broadcom by 242.9% in the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock valued at $32,000 after acquiring an additional 17 shares in the last quarter. Redmont Wealth Advisors LLC acquired a new position in shares of Broadcom in the first quarter valued at about $36,000. Finally, Ulland Investment Advisors LLC acquired a new position in shares of Broadcom in the first quarter valued at about $37,000. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Up 4.0 %

Broadcom stock opened at $164.56 on Friday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. Broadcom Inc. has a 52-week low of $79.51 and a 52-week high of $185.16. The firm has a 50 day moving average price of $188.20 and a two-hundred day moving average price of $156.39. The firm has a market cap of $766.01 billion, a price-to-earnings ratio of 7.08, a PEG ratio of 2.55 and a beta of 1.16.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping the consensus estimate of $1.20 by $0.04. The company had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company’s quarterly revenue was up 47.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.95 EPS. Equities analysts predict that Broadcom Inc. will post 3.77 EPS for the current year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 19th will be given a dividend of $0.53 per share. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date is Thursday, September 19th. This represents a $2.12 annualized dividend and a dividend yield of 1.29%. Broadcom’s dividend payout ratio (DPR) is 9.03%.

Wall Street Analyst Weigh In

AVGO has been the topic of several research reports. JPMorgan Chase & Co. upped their price target on shares of Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Melius Research assumed coverage on shares of Broadcom in a research note on Monday, June 3rd. They set a “buy” rating and a $185.00 price objective on the stock. Evercore ISI increased their price objective on shares of Broadcom from $162.00 to $201.00 and gave the stock an “outperform” rating in a research note on Thursday, June 13th. UBS Group reduced their price objective on shares of Broadcom from $173.50 to $170.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Piper Sandler increased their price objective on shares of Broadcom from $165.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, June 13th. Two research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $189.23.

Insider Transactions at Broadcom

In other news, Director Justine Page sold 2,540 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $175.03, for a total transaction of $444,566.04. Following the completion of the sale, the director now owns 27,480 shares of the company’s stock, valued at approximately $4,809,714.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Justine Page sold 2,540 shares of Broadcom stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $175.03, for a total value of $444,566.04. Following the completion of the sale, the director now owns 27,480 shares of the company’s stock, valued at approximately $4,809,714.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Hock E. Tan sold 7,502 shares of Broadcom stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total transaction of $12,798,036.90. Following the completion of the sale, the chief executive officer now directly owns 138,191 shares of the company’s stock, valued at approximately $235,746,936.45. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

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.