Symmetry Partners LLC Purchases New Shares in Broadcom Inc. (NASDAQ:AVGO)

Symmetry Partners LLC acquired a new position in shares of Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,357 shares of the semiconductor manufacturer’s stock, valued at approximately $315,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Pin Oak Investment Advisors Inc. lifted its position in Broadcom by 900.0% during the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 135 shares during the period. Canton Hathaway LLC bought a new stake in Broadcom during the fourth quarter worth about $26,000. Rialto Wealth Management LLC bought a new stake in Broadcom during the fourth quarter worth about $26,000. JDM Financial Group LLC lifted its position in Broadcom by 1,323.1% during the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after purchasing an additional 172 shares during the period. Finally, Bellevue Asset Management LLC bought a new stake in Broadcom during the fourth quarter worth about $33,000. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Performance

NASDAQ:AVGO opened at $195.57 on Thursday. The company has a fifty day moving average of $215.81 and a 200-day moving average of $194.61. The firm has a market capitalization of $919.56 billion, a P/E ratio of 159.52, a P/E/G ratio of 2.29 and a beta of 1.01. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a twelve month low of $119.76 and a twelve month high of $251.88.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom’s payout ratio is currently 113.46%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Piper Sandler upped their price objective on shares of Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Citigroup raised their price target on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Cantor Fitzgerald restated an “overweight” rating and issued a $300.00 price target on shares of Broadcom in a research note on Friday, March 7th. Morgan Stanley raised their price target on shares of Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. Finally, Susquehanna raised their price target on shares of Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research note on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $231.48.

Insider Activity at Broadcom

In related news, insider Mark David Brazeal sold 20,168 shares of Broadcom stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total value of $4,815,916.72. Following the completion of the sale, the insider now owns 321,660 shares of the company’s stock, valued at approximately $76,809,191.40. This trade represents a 5.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Kirsten M. Spears sold 12,570 shares of Broadcom 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 completion of the sale, the chief financial officer now directly owns 325,443 shares of the company’s stock, valued at approximately $74,728,221.66. The trade was a 3.72 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 184,738 shares of company stock valued at $43,395,200. 2.00% of the stock is owned by company insiders.

About Broadcom

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.