Symphony Financial Ltd. Co. Sells 7,181 Shares of Broadcom Inc. $AVGO

Symphony Financial Ltd. Co. lowered its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 14.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 42,446 shares of the semiconductor manufacturer’s stock after selling 7,181 shares during the quarter. Broadcom makes up approximately 1.7% of Symphony Financial Ltd. Co.’s portfolio, making the stock its 14th largest holding. Symphony Financial Ltd. Co.’s holdings in Broadcom were worth $13,944,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in Broadcom by 21.8% in the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock valued at $6,882,000 after purchasing an additional 5,322 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in shares of Broadcom by 10.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock valued at $1,854,000 after buying an additional 756 shares during the period. United Bank lifted its position in shares of Broadcom by 76.5% during the 1st quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock valued at $392,000 after buying an additional 1,014 shares during the last quarter. Sivia Capital Partners LLC grew its stake in shares of Broadcom by 10.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer’s stock worth $3,499,000 after acquiring an additional 1,160 shares during the period. Finally, XY Planning Network Inc. increased its holdings in Broadcom by 14.4% in the 2nd quarter. XY Planning Network Inc. now owns 3,552 shares of the semiconductor manufacturer’s stock worth $979,000 after acquiring an additional 448 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Insiders Place Their Bets

In other Broadcom news, CEO Hock E. Tan sold 130,000 shares of the firm’s stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $326.02, for a total value of $42,382,600.00. Following the sale, the chief executive officer owned 595,638 shares of the company’s stock, valued at $194,189,900.76. This trade represents a 17.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mark David Brazeal sold 38,281 shares of the business’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $327.65, for a total value of $12,542,769.65. Following the transaction, the insider directly owned 266,494 shares of the company’s stock, valued at $87,316,759.10. The trade was a 12.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 779,901 shares of company stock valued at $284,069,237 over the last 90 days. 2.00% of the stock is owned by insiders.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $330.73 on Friday. The company has a 50 day moving average of $355.94 and a 200 day moving average of $336.85. The company has a current ratio of 1.71, a quick ratio of 1.58 and a debt-to-equity ratio of 0.76. The stock has a market cap of $1.57 trillion, a P/E ratio of 69.48, a P/E/G ratio of 1.10 and a beta of 1.21. Broadcom Inc. has a 12 month low of $138.10 and a 12 month high of $414.61.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 EPS for the quarter, beating the consensus estimate of $1.87 by $0.08. The firm had revenue of $18.02 billion during the quarter, compared to the consensus estimate of $17.46 billion. Broadcom had a net margin of 36.20% and a return on equity of 37.45%. The business’s quarterly revenue was up 28.2% compared to the same quarter last year. During the same period last year, the firm earned $1.42 EPS. As a group, sell-side analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 22nd were paid a $0.65 dividend. The ex-dividend date was Monday, December 22nd. This represents a $2.60 dividend on an annualized basis and a yield of 0.8%. This is an increase from Broadcom’s previous quarterly dividend of $0.59. Broadcom’s dividend payout ratio is currently 54.62%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on AVGO shares. Wall Street Zen upgraded Broadcom from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. Evercore ISI lifted their target price on shares of Broadcom from $342.00 to $403.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 15th. Citigroup restated a “buy” rating on shares of Broadcom in a research note on Thursday, January 15th. Raymond James Financial set a $420.00 price objective on shares of Broadcom and gave the company an “outperform” rating in a research note on Thursday, November 20th. Finally, Bank of America boosted their target price on shares of Broadcom from $460.00 to $500.00 and gave the company a “buy” rating in a report on Friday, December 12th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $438.61.

Broadcom Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.