Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Synergy Financial Group LTD

Synergy Financial Group LTD increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 896.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 6,397 shares of the semiconductor manufacturer’s stock after purchasing an additional 5,755 shares during the period. Broadcom makes up 1.0% of Synergy Financial Group LTD’s investment portfolio, making the stock its 22nd biggest position. Synergy Financial Group LTD’s holdings in Broadcom were worth $1,104,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of AVGO. Kiely Wealth Advisory Group Inc. acquired a new stake in Broadcom during the second quarter worth approximately $128,000. Mark Sheptoff Financial Planning LLC acquired a new stake in Broadcom in the second quarter valued at $136,000. American Capital Advisory LLC purchased a new position in shares of Broadcom during the 2nd quarter worth approximately $169,000. Semus Wealth Partners LLC purchased a new position in Broadcom in the 2nd quarter valued at about $202,000. Finally, Palisades Hudson Asset Management L.P. acquired a new stake in shares of Broadcom during the second quarter worth $204,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Trading Down 0.3 %

Broadcom stock opened at $178.94 on Tuesday. The firm’s 50 day moving average price is $173.14 and its two-hundred day moving average price is $163.05. The firm has a market cap of $835.75 billion, a price-to-earnings ratio of 155.60, a price-to-earnings-growth ratio of 2.11 and a beta of 1.13. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. Broadcom Inc. has a 1 year low of $95.61 and a 1 year high of $186.42.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AVGO. Rosenblatt Securities lowered their price objective on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a research note on Friday, September 6th. Cantor Fitzgerald upped their target price on shares of Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. TD Cowen upgraded Broadcom to a “strong-buy” rating in a report on Monday, September 16th. William Blair began coverage on Broadcom in a research note on Wednesday, September 18th. They issued an “outperform” rating for the company. Finally, Hsbc Global Res raised shares of Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Three analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and a consensus target price of $195.96.

Insider Activity at Broadcom

In other news, insider Charlie B. Kawwas sold 15,950 shares of Broadcom stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $181.44, for a total value of $2,893,968.00. Following the transaction, the insider now directly owns 737,330 shares of the company’s stock, valued at $133,781,155.20. This trade represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Hock E. Tan sold 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $172.94, for a total transaction of $25,941,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,181,910 shares of the company’s stock, valued at $204,399,515.40. This represents a 11.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 311,080 shares of company stock worth $53,540,590 in the last quarter. 2.00% of the stock is owned by company insiders.

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.