Symphony Financial Ltd. Co. Has $11.28 Million Position in Broadcom Inc. (NASDAQ:AVGO)

Symphony Financial Ltd. Co. cut its stake in Broadcom Inc. (NASDAQ:AVGO) by 5.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 46,713 shares of the semiconductor manufacturer’s stock after selling 2,805 shares during the quarter. Broadcom makes up 1.8% of Symphony Financial Ltd. Co.’s portfolio, making the stock its 16th biggest holding. Symphony Financial Ltd. Co.’s holdings in Broadcom were worth $11,276,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. My Personal CFO LLC bought a new stake in Broadcom in the fourth quarter worth $253,000. Abundance Wealth Counselors boosted its holdings in Broadcom by 6.8% during the fourth quarter. Abundance Wealth Counselors now owns 12,887 shares of the semiconductor manufacturer’s stock valued at $2,988,000 after acquiring an additional 818 shares during the period. Brio Consultants LLC raised its position in shares of Broadcom by 24.7% during the fourth quarter. Brio Consultants LLC now owns 1,744 shares of the semiconductor manufacturer’s stock valued at $404,000 after buying an additional 345 shares during the last quarter. Independence Bank of Kentucky raised its position in shares of Broadcom by 9.9% during the fourth quarter. Independence Bank of Kentucky now owns 15,050 shares of the semiconductor manufacturer’s stock valued at $3,489,000 after buying an additional 1,360 shares during the last quarter. Finally, SeaBridge Investment Advisors LLC raised its position in shares of Broadcom by 4.1% during the fourth quarter. SeaBridge Investment Advisors LLC now owns 28,416 shares of the semiconductor manufacturer’s stock valued at $6,588,000 after buying an additional 1,121 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Jefferies Financial Group increased their price target on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Barclays raised their price objective on shares of Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Rosenblatt Securities reiterated a “buy” rating and issued a $240.00 target price on shares of Broadcom in a report on Wednesday, December 11th. Evercore ISI lifted their price target on shares of Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Finally, Robert W. Baird lifted their price objective on shares of Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and a consensus price target of $225.04.

Insider Buying and Selling at Broadcom

In related news, CFO Kirsten M. Spears sold 12,570 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $229.62, for a total transaction of $2,886,323.40. Following the transaction, the chief financial officer now directly owns 325,443 shares of the company’s stock, valued at $74,728,221.66. This represents a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Harry L. You sold 6,540 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the transaction, the director now directly owns 30,450 shares in the company, valued at approximately $7,308,000. This represents a 17.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is currently owned by company insiders.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $217.73 on Tuesday. The firm has a 50 day moving average of $213.41 and a 200-day moving average of $182.20. The stock has a market capitalization of $1.02 trillion, a PE ratio of 177.60, a PEG ratio of 2.31 and a beta of 1.03. 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 Inc. has a 12 month low of $119.76 and a 12 month high of $251.88.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. The business had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The firm’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.98 EPS. On average, equities research analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.08%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio is currently 191.87%.

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.