Syntax Research Inc. Sells 2,025 Shares of Broadcom Inc. $AVGO

Key Points

• Syntax Research Inc. reduced its holdings in Broadcom by 11.7%, selling 2,025 shares and now owns 15,327 shares worth approximately $4.23 million.
• Insiders have recently sold significant amounts of Broadcom stock, including Director Henry Samueli who sold 368,797 shares for around $124.6 million and CEO Hock E. Tan who sold 100,000 shares for about $34 million.
• Broadcom reported strong quarterly earnings with a net margin of 31.59% and revenue of $15.95 billion, surpassing analysts' expectations and showing a 22% year-over-year growth.

Syntax Research Inc. decreased its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 11.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,327 shares of the semiconductor manufacturer's stock after selling 2,025 shares during the quarter. Broadcom comprises about 3.0% of Syntax Research Inc.'s holdings, making the stock its 8th largest position. Syntax Research Inc.'s holdings in Broadcom were worth $4,225,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of AVGO. Nuveen LLC purchased a new stake in shares of Broadcom in the first quarter valued at $6,649,117,000. Price T Rowe Associates Inc. MD increased its stake in shares of Broadcom by 37.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer's stock valued at $10,968,270,000 after acquiring an additional 17,985,046 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Broadcom by 16.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 31,854,414 shares of the semiconductor manufacturer's stock worth $5,333,384,000 after acquiring an additional 4,550,647 shares during the period. Deutsche Bank AG grew its holdings in Broadcom by 36.9% in the first quarter. Deutsche Bank AG now owns 15,758,895 shares of the semiconductor manufacturer's stock valued at $2,638,512,000 after purchasing an additional 4,245,345 shares during the period. Finally, Alliancebernstein L.P. increased its position in Broadcom by 16.0% during the first quarter. Alliancebernstein L.P. now owns 29,513,814 shares of the semiconductor manufacturer's stock worth $4,941,498,000 after purchasing an additional 4,077,910 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Broadcom

In related news, Director Henry Samueli sold 368,797 shares of the business's stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $337.91, for a total value of $124,620,194.27. Following the transaction, the director owned 37,722,534 shares in the company, valued at approximately $12,746,821,463.94. The trade was a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Hock E. Tan sold 100,000 shares of the stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $339.58, for a total value of $33,958,000.00. Following the completion of the transaction, the chief executive officer directly owned 725,638 shares of the company's stock, valued at $246,412,152.04. This represents a 12.11% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders bought 3,550 shares of company stock valued at $1,227,869 and sold 666,071 shares valued at $225,623,008. 2.00% of the stock is owned by insiders.

Broadcom Trading Down 0.9%

AVGO opened at $335.49 on Tuesday. The firm's 50 day moving average is $319.25 and its 200-day moving average is $259.24. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $374.23. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $1.58 trillion, a P/E ratio of 85.58, a P/E/G ratio of 1.87 and a beta of 1.20.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, beating analysts' consensus estimates of $1.66 by $0.03. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The business had revenue of $15.95 billion during the quarter, compared to analyst estimates of $15.82 billion. During the same period last year, the business earned $1.24 EPS. The business's revenue was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. Analysts expect 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 Tuesday, September 30th. Stockholders of record on Monday, September 22nd were paid a dividend of $0.59 per share. The ex-dividend date was Monday, September 22nd. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Broadcom's dividend payout ratio (DPR) is currently 60.20%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Citigroup upped their price objective on Broadcom from $315.00 to $350.00 and gave the stock a "buy" rating in a report on Friday, September 5th. KeyCorp restated an "overweight" rating and set a $420.00 price target (up from $400.00) on shares of Broadcom in a research note on Tuesday, September 30th. Barclays lifted their price objective on Broadcom from $265.00 to $400.00 and gave the company an "overweight" rating in a research note on Friday, September 5th. Macquarie began coverage on shares of Broadcom in a research report on Monday, September 15th. They set an "outperform" rating and a $420.00 target price for the company. Finally, Wells Fargo & Company lifted their price target on shares of Broadcom from $255.00 to $345.00 and gave the company an "equal weight" rating in a research report on Friday, September 5th. Three investment analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $357.22.

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.

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