Syntax Research Inc. Grows Position in Broadcom Inc. (NASDAQ:AVGO)

Syntax Research Inc. grew its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 882.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 6,899 shares of the semiconductor manufacturer's stock after purchasing an additional 6,197 shares during the period. Syntax Research Inc.'s holdings in Broadcom were worth $1,190,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Castleview Partners LLC boosted its holdings in shares of Broadcom by 1,030.8% during the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer's stock valued at $25,000 after acquiring an additional 134 shares in the last quarter. Pin Oak Investment Advisors Inc. raised its position in Broadcom by 900.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer's stock valued at $25,000 after purchasing an additional 135 shares during the last quarter. JDM Financial Group LLC boosted its stake in shares of Broadcom by 1,323.1% during the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer's stock valued at $32,000 after purchasing an additional 172 shares in the last quarter. Tsfg LLC grew its holdings in shares of Broadcom by 1,073.7% during the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer's stock worth $38,000 after purchasing an additional 204 shares during the last quarter. Finally, Cedar Wealth Management LLC increased its stake in shares of Broadcom by 900.0% in the third quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer's stock valued at $41,000 after buying an additional 216 shares during the period. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Buying and Selling

In other news, insider Charlie B. Kawwas sold 25,200 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $168.27, for a total value of $4,240,404.00. Following the transaction, the insider now owns 753,280 shares of the company's stock, valued at $126,754,425.60. This represents a 3.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Hock E. Tan sold 10,000 shares of Broadcom stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $167.14, for a total transaction of $1,671,400.00. Following the sale, the chief executive officer now directly owns 1,171,910 shares of the company's stock, valued at $195,873,037.40. This represents a 0.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 261,080 shares of company stock valued at $45,372,090. Company insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of recent research reports. Citigroup lifted their price target on shares of Broadcom from $175.00 to $205.00 and gave the stock a "buy" rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. boosted their target price on shares of Broadcom from $210.00 to $250.00 and gave the company an "overweight" rating in a report on Friday, December 13th. William Blair began coverage on Broadcom in a research note on Wednesday, September 18th. They issued an "outperform" rating on the stock. Morgan Stanley lifted their price objective on shares of Broadcom from $180.00 to $233.00 and gave the company an "overweight" rating in a research note on Friday, December 13th. Finally, Barclays upped their price objective on shares of Broadcom from $200.00 to $205.00 and gave the company an "overweight" rating in a report on Monday. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat, Broadcom currently has a consensus rating of "Moderate Buy" and a consensus target price of $220.54.

Broadcom Stock Down 6.9 %

Broadcom stock traded down $16.61 during midday trading on Wednesday, hitting $223.62. 53,692,945 shares of the stock were exchanged, compared to its average volume of 30,063,264. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. The stock has a market capitalization of $1.04 trillion, a price-to-earnings ratio of 194.28, a price-to-earnings-growth ratio of 2.15 and a beta of 1.13. Broadcom Inc. has a 52-week low of $104.15 and a 52-week high of $251.88. The business's 50-day moving average price is $177.30 and its 200-day moving average price is $165.89.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.03. The business had revenue of $14.05 billion for the quarter, compared to analysts' expectations of $14.07 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business's revenue was up 51.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.98 earnings per share. On average, research analysts expect that Broadcom Inc. will post 3.79 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd will be issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Monday, December 23rd. This is an increase from Broadcom's previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a yield of 1.06%. Broadcom's dividend payout ratio is 191.87%.

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.