Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by SYM FINANCIAL Corp

SYM FINANCIAL Corp increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 1,186.9% during the third quarter, HoldingsChannel.com reports. The fund owned 9,008 shares of the semiconductor manufacturer’s stock after buying an additional 8,308 shares during the period. SYM FINANCIAL Corp’s holdings in Broadcom were worth $1,554,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. AXA S.A. raised its stake in Broadcom by 2.7% during the second quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer’s stock worth $467,334,000 after purchasing an additional 7,608 shares during the period. Catalyst Financial Partners LLC raised its stake in Broadcom by 943.3% during the third quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer’s stock worth $3,473,000 after purchasing an additional 18,206 shares during the period. Whittier Trust Co. raised its stake in Broadcom by 947.2% during the third quarter. Whittier Trust Co. now owns 689,858 shares of the semiconductor manufacturer’s stock worth $119,000,000 after purchasing an additional 623,983 shares during the period. Summit Place Financial Advisors LLC raised its stake in Broadcom by 912.6% during the third quarter. Summit Place Financial Advisors LLC now owns 9,802 shares of the semiconductor manufacturer’s stock worth $1,691,000 after purchasing an additional 8,834 shares during the period. Finally, Signaturefd LLC raised its stake in Broadcom by 913.0% during the third quarter. Signaturefd LLC now owns 78,977 shares of the semiconductor manufacturer’s stock worth $13,624,000 after purchasing an additional 71,181 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AVGO has been the topic of a number of analyst reports. Truist Financial lifted their target price on shares of Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Morgan Stanley boosted their price target on shares of Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Benchmark reissued a “buy” rating and issued a $210.00 price target on shares of Broadcom in a research note on Friday, September 6th. The Goldman Sachs Group boosted their price target on shares of Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Finally, JPMorgan Chase & Co. boosted 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. Two equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and a consensus price target of $195.96.

Broadcom Trading Up 1.4 %

Shares of Broadcom stock opened at $170.56 on Thursday. The company has a fifty day simple moving average of $173.02 and a 200-day simple moving average of $162.31. Broadcom Inc. has a 12-month low of $90.31 and a 12-month high of $186.42. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The stock has a market cap of $796.61 billion, a price-to-earnings ratio of 148.18, a PEG ratio of 1.96 and a beta of 1.13.

Broadcom (NASDAQ:AVGO) last issued its quarterly 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 during the quarter, compared to analysts’ expectations of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. Broadcom’s quarterly revenue was up 47.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.95 EPS. On average, equities analysts forecast that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Insider Buying and Selling

In related 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 transaction of $4,240,404.00. Following the completion of the sale, the insider now owns 753,280 shares in the company, valued at $126,754,425.60. This represents a 3.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark David Brazeal sold 20,280 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the sale, the insider now owns 399,460 shares of the company’s stock, valued at approximately $70,744,366. This represents a 4.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock worth $53,540,590 in the last 90 days. Company insiders own 2.00% of the company’s stock.

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.