Syntax Research Inc. Sells 107 Shares of Broadcom Inc. (NASDAQ:AVGO)

Syntax Research Inc. cut its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,792 shares of the semiconductor manufacturer’s stock after selling 107 shares during the quarter. Broadcom accounts for about 1.1% of Syntax Research Inc.’s portfolio, making the stock its 29th biggest holding. Syntax Research Inc.’s holdings in Broadcom were worth $1,575,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of AVGO. Pin Oak Investment Advisors Inc. grew its stake 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 in the last quarter. Canton Hathaway LLC bought a new position in Broadcom in the fourth quarter valued at approximately $26,000. Rialto Wealth Management LLC bought a new position in Broadcom in the fourth quarter valued at approximately $26,000. JDM Financial Group LLC grew its stake in Broadcom by 1,323.1% in 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. Finally, Bellevue Asset Management LLC bought a new position in Broadcom in the fourth quarter valued at approximately $33,000. 76.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Broadcom

In other news, Director Check Kian Low sold 48,000 shares of Broadcom stock in a transaction on Monday, January 6th. The stock was sold at an average price of $235.35, for a total value of $11,296,800.00. Following the transaction, the director now owns 113,050 shares in the company, valued at approximately $26,606,317.50. This trade represents a 29.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Hock E. Tan sold 45,000 shares of Broadcom stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total value of $10,798,200.00. Following the completion of the transaction, the chief executive officer now owns 842,836 shares in the company, valued at approximately $202,246,926.56. The trade was a 5.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 157,168 shares of company stock valued at $37,108,677 in the last three months. Corporate insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $191.66 on Monday. The stock has a market capitalization of $901.18 billion, a PE ratio of 156.33, a P/E/G ratio of 2.29 and a beta of 1.01. 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 business has a fifty day moving average price of $214.38 and a two-hundred day moving average price of $195.37. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be issued a $0.59 dividend. The ex-dividend date is Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.23%. Broadcom’s dividend payout ratio is presently 113.46%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AVGO. Mizuho decreased their price target on Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday, March 7th. Piper Sandler raised their price target on Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Jefferies Financial Group raised their price objective on Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $300.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Finally, Truist Financial raised their price objective on Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a research report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $231.48.

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.