Syverson Strege & Co Invests $273,000 in Broadcom Inc. (NASDAQ:AVGO)

Syverson Strege & Co acquired a new position in shares of Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, Holdings Channel reports. The firm acquired 1,179 shares of the semiconductor manufacturer’s stock, valued at approximately $273,000.

Other institutional investors also recently added to or reduced their stakes in the company. First American Trust FSB raised its holdings in Broadcom by 0.9% in the fourth quarter. First American Trust FSB now owns 12,857 shares of the semiconductor manufacturer’s stock worth $2,981,000 after purchasing an additional 119 shares in the last quarter. WorthPointe LLC purchased a new position in shares of Broadcom in the 4th quarter worth approximately $208,000. Heritage Wealth Management Inc. CA bought a new position in shares of Broadcom during the 4th quarter worth approximately $345,000. Zions Bancorporation N.A. lifted its position in Broadcom by 37.4% during the fourth quarter. Zions Bancorporation N.A. now owns 34,655 shares of the semiconductor manufacturer’s stock valued at $8,034,000 after acquiring an additional 9,426 shares during the last quarter. Finally, Ashton Thomas Securities LLC boosted its stake in Broadcom by 12.7% in the fourth quarter. Ashton Thomas Securities LLC now owns 9,091 shares of the semiconductor manufacturer’s stock valued at $2,100,000 after acquiring an additional 1,023 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

AVGO has been the topic of a number of recent analyst reports. Susquehanna upped their price target on Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research report on Friday, December 13th. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 price target on shares of Broadcom in a research note on Friday, March 7th. Piper Sandler boosted their price target on Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Evercore ISI increased their price objective on shares of Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Finally, Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Three equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $231.48.

Insider Transactions at Broadcom

In other news, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the transaction, the director now directly owns 46,400 shares of the company’s stock, valued at $10,655,296. This represents a 7.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Charlie B. Kawwas sold 40,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the completion of the sale, the insider now directly owns 696,730 shares of the company’s stock, valued at approximately $161,627,425.40. The trade was a 5.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 92,000 shares of company stock valued at $21,494,560 in the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Price Performance

NASDAQ:AVGO opened at $191.25 on Tuesday. 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 company has a 50 day moving average price of $213.70 and a 200-day moving average price of $195.64. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88. The firm has a market cap of $899.25 billion, a price-to-earnings ratio of 156.00, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01.

Broadcom Dividend Announcement

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

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.