Syntax Research Inc. Sells 107 Shares of Broadcom Inc. (NASDAQ:AVGO)

Syntax Research Inc. lowered its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.6% during the fourth quarter, HoldingsChannel reports. The fund owned 6,792 shares of the semiconductor manufacturer’s stock after selling 107 shares during the quarter. Broadcom comprises about 1.1% of Syntax Research Inc.’s portfolio, making the stock its 29th largest holding. Syntax Research Inc.’s holdings in Broadcom were worth $1,575,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. KFA Private Wealth Group LLC grew its holdings in Broadcom by 2.5% during the fourth quarter. KFA Private Wealth Group LLC now owns 1,756 shares of the semiconductor manufacturer’s stock valued at $407,000 after purchasing an additional 42 shares during the period. Dakota Community Bank & Trust NA grew its holdings in Broadcom by 2.7% during the fourth quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer’s stock valued at $391,000 after purchasing an additional 45 shares during the period. Bryant Woods Investment Advisors LLC grew its holdings in Broadcom by 3.5% during the fourth quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer’s stock valued at $305,000 after purchasing an additional 45 shares during the period. Marest Capital LLC grew its holdings in Broadcom by 1.0% during the fourth quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer’s stock valued at $1,052,000 after purchasing an additional 46 shares during the period. Finally, Defined Wealth Management LLC grew its holdings in Broadcom by 0.4% during the fourth quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer’s stock valued at $2,947,000 after purchasing an additional 47 shares during the period. Institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling

In other news, insider Charlie B. Kawwas sold 40,000 shares of Broadcom stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the completion of the transaction, the insider now directly owns 696,730 shares in the company, valued at approximately $161,627,425.40. This trade represents a 5.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the transaction, the director now owns 46,400 shares of the company’s stock, valued at $10,655,296. The trade was a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 157,168 shares of company stock valued at $37,108,677 over the last ninety days. 2.00% of the stock is owned by insiders.

Analyst Ratings Changes

AVGO has been the subject of several research reports. Deutsche Bank Aktiengesellschaft increased their price objective on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. Robert W. Baird increased their target price on Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. TD Cowen increased their target price on Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Susquehanna increased their target price on Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research report on Friday, December 13th. Finally, Jefferies Financial Group increased their target price on Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $231.48.

Broadcom Stock Up 0.6 %

Shares of NASDAQ:AVGO opened at $191.66 on Monday. The stock’s 50-day moving average price is $214.38 and its 200-day moving average price is $195.37. Broadcom Inc. has a 12-month low of $119.76 and a 12-month high of $251.88. The stock has a market capitalization of $901.18 billion, a P/E ratio of 156.33, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors 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 annualized dividend and a dividend yield of 1.23%. Broadcom’s payout ratio is presently 113.46%.

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.