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

Syverson Strege & Co bought a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,179 shares of the semiconductor manufacturer’s stock, valued at approximately $273,000.

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

Insider Transactions at Broadcom

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the sale, the director now directly owns 46,400 shares in the company, valued at approximately $10,655,296. This represents a 7.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Check Kian Low sold 48,000 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were 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 represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 92,000 shares of company stock valued at $21,494,560. 2.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

AVGO has been the topic of several research analyst reports. Jefferies Financial Group boosted their price target on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Truist Financial boosted their target price on Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a research report on Friday, March 7th. Evercore ISI raised their price target on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, December 13th. TD Cowen upped their price objective on Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, Mizuho lowered their target price on Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday, March 7th. Three analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and an average target price of $231.48.

Broadcom Trading Down 0.2 %

NASDAQ AVGO opened at $191.25 on Tuesday. The stock has a market cap of $899.25 billion, a PE ratio of 156.00, a PEG ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. The company’s 50-day moving average price is $213.70 and its 200-day moving average price is $195.64. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98.

Broadcom Dividend Announcement

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

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.