Synovus Financial Corp Grows Position in Broadcom Inc. $AVGO

Key Points

• Synovus Financial Corp increased its stake in Broadcom Inc. by 1.5%, owning 228,545 shares worth $38.3 million as of the latest filing.
• Broadcom Inc. reported quarterly earnings exceeding expectations, with a revenue of $15 billion and a net margin of 22.64% for the quarter.
• Multiple analysts have rated Broadcom highly, with a consensus target price of $298.67 and 30 analysts recommending a buy or strong buy rating.

Synovus Financial Corp increased its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 228,545 shares of the semiconductor manufacturer's stock after purchasing an additional 3,350 shares during the quarter. Broadcom makes up about 0.5% of Synovus Financial Corp's investment portfolio, making the stock its 28th largest holding. Synovus Financial Corp's holdings in Broadcom were worth $38,266,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sunbeam Capital Management LLC purchased a new position in shares of Broadcom in the 4th quarter valued at approximately $28,000. Vermillion Wealth Management Inc. purchased a new position in shares of Broadcom in the 4th quarter valued at approximately $30,000. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Broadcom in the 1st quarter valued at approximately $25,000. Cheviot Value Management LLC purchased a new position in shares of Broadcom in the 1st quarter valued at approximately $25,000. Finally, Inlight Wealth Management LLC purchased a new position in shares of Broadcom in the 1st quarter valued at approximately $26,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Truist Financial set a $295.00 target price on Broadcom and gave the company a "buy" rating in a research note on Friday, June 6th. Arete Research raised Broadcom to a "strong-buy" rating in a research report on Monday, July 28th. JPMorgan Chase & Co. raised their price objective on Broadcom from $250.00 to $325.00 and gave the company an "overweight" rating in a research report on Friday, June 6th. Benchmark raised their price objective on Broadcom from $255.00 to $315.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Finally, Mizuho raised their price objective on Broadcom from $315.00 to $320.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, Broadcom presently has a consensus rating of "Buy" and a consensus target price of $298.67.

Broadcom Stock Up 1.5%

Broadcom stock opened at $294.00 on Friday. The firm has a market cap of $1.38 trillion, a price-to-earnings ratio of 110.11, a PEG ratio of 2.09 and a beta of 1.15. The stock has a fifty day simple moving average of $282.85 and a two-hundred day simple moving average of $232.34. Broadcom Inc. has a 12 month low of $134.90 and a 12 month high of $317.35. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, topping analysts' consensus estimates of $1.57 by $0.01. The business had revenue of $15 billion during the quarter, compared to analyst estimates of $14.98 billion. Broadcom had a return on equity of 35.49% and a net margin of 22.64%.The company's quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter last year, the company earned $10.96 EPS. Broadcom has set its Q3 2025 guidance at EPS. Equities analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were issued a $0.59 dividend. The ex-dividend date of this dividend was Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.8%. Broadcom's dividend payout ratio (DPR) is presently 88.39%.

Insider Buying and Selling

In related news, Director Gayla J. Delly sold 3,000 shares of Broadcom stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $265.13, for a total value of $795,390.00. Following the completion of the sale, the director owned 33,352 shares of the company's stock, valued at $8,842,615.76. The trade was a 8.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Henry Samueli sold 473,898 shares of Broadcom stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $265.33, for a total value of $125,739,356.34. Following the completion of the sale, the director directly owned 38,188,575 shares of the company's stock, valued at $10,132,574,604.75. The trade was a 1.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 830,516 shares of company stock valued at $217,286,457 over the last ninety days. 2.00% of the stock is owned by 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.

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