Syon Capital LLC Sells 2,019 Shares of Broadcom Inc. (NASDAQ:AVGO)

Syon Capital LLC decreased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,484 shares of the semiconductor manufacturer's stock after selling 2,019 shares during the period. Broadcom makes up 1.1% of Syon Capital LLC's portfolio, making the stock its 20th biggest holding. Syon Capital LLC's holdings in Broadcom were worth $12,168,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

AVGO has been the topic of several recent analyst reports. Benchmark reissued a "buy" rating and set a $255.00 price target on shares of Broadcom in a research report on Friday, March 7th. Bank of America reduced their price target on shares of Broadcom from $260.00 to $240.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Morgan Stanley increased their target price on shares of Broadcom from $246.00 to $260.00 and gave the stock an "overweight" rating in a research report on Friday, March 7th. Citigroup dropped their price target on shares of Broadcom from $220.00 to $210.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $300.00 target price on shares of Broadcom in a research note on Friday, March 7th. Three research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $229.48.

Insiders Place Their Bets

In other news, Director Henry Samueli sold 663,976 shares of Broadcom stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the sale, the director now owns 38,798,721 shares of the company's stock, valued at approximately $7,045,847,733.60. This trade represents a 1.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 30,000 shares of the firm's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $194.65, for a total value of $5,839,500.00. Following the completion of the transaction, the insider now directly owns 490,956 shares of the company's stock, valued at approximately $95,564,585.40. This trade represents a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 719,776 shares of company stock worth $131,065,542 in the last ninety days. Insiders own 2.00% of the company's stock.

Broadcom Stock Performance

Shares of AVGO stock traded up $4.16 during trading hours on Friday, reaching $192.31. 21,216,875 shares of the company's stock were exchanged, compared to its average volume of 31,284,383. The business has a fifty day moving average price of $184.36 and a 200-day moving average price of $196.02. The stock has a market capitalization of $904.23 billion, a P/E ratio of 156.86, a P/E/G ratio of 2.29 and a beta of 1.05. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a fifty-two week low of $122.33 and a fifty-two week high of $251.88.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom's dividend payout ratio (DPR) is presently 113.46%.

Broadcom announced that its Board of Directors has authorized a stock repurchase plan on Monday, April 7th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to repurchase up to 1.4% of its stock through open market purchases. Stock buyback plans are generally an indication 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.