Broadcom Limited (NASDAQ:AVGO) Shares Bought by Synovus Financial Corp

Synovus Financial Corp grew its holdings in Broadcom Limited (NASDAQ:AVGO) by 79.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,911 shares of the semiconductor manufacturer’s stock after purchasing an additional 847 shares during the period. Synovus Financial Corp’s holdings in Broadcom Limited were worth $444,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AVGO. FNY Managed Accounts LLC acquired a new position in shares of Broadcom Limited in the first quarter worth $100,000. AllSquare Wealth Management LLC grew its position in shares of Broadcom Limited by 38.0% in the first quarter. AllSquare Wealth Management LLC now owns 483 shares of the semiconductor manufacturer’s stock valued at $106,000 after purchasing an additional 133 shares during the last quarter. Shine Investment Advisory Services Inc. acquired a new stake in shares of Broadcom Limited in the second quarter valued at about $116,000. Archford Capital Strategies LLC grew its position in shares of Broadcom Limited by 45.4% in the first quarter. Archford Capital Strategies LLC now owns 538 shares of the semiconductor manufacturer’s stock valued at $118,000 after purchasing an additional 168 shares during the last quarter. Finally, D. Scott Neal Inc. acquired a new stake in shares of Broadcom Limited in the second quarter valued at about $127,000. Institutional investors own 90.04% of the company’s stock.

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In other Broadcom Limited news, SVP Charlie B. Kawwas sold 1,788 shares of Broadcom Limited stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $247.28, for a total transaction of $442,136.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Bryan Ingram sold 10,000 shares of Broadcom Limited stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $244.59, for a total transaction of $2,445,900.00. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by insiders.

Several equities research analysts recently weighed in on AVGO shares. Vetr upgraded shares of Broadcom Limited from a “hold” rating to a “buy” rating and set a $261.95 target price for the company in a research note on Monday, August 28th. Rosenblatt Securities reiterated a “buy” rating and issued a $260.00 target price on shares of Broadcom Limited in a research note on Wednesday, May 31st. Royal Bank Of Canada reiterated a “buy” rating and issued a $285.00 target price (up previously from $270.00) on shares of Broadcom Limited in a research note on Saturday, August 26th. UBS AG restated a “buy” rating and set a $265.00 price target on shares of Broadcom Limited in a research note on Monday, June 26th. Finally, Sanford C. Bernstein restated an “outperform” rating and set a $285.00 price target (up previously from $265.00) on shares of Broadcom Limited in a research note on Saturday, June 3rd. Two research analysts have rated the stock with a hold rating, thirty-two have given a buy rating and two have issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $274.48.

Broadcom Limited (NASDAQ AVGO) opened at 246.92 on Friday. The firm has a market capitalization of $100.74 billion, a price-to-earnings ratio of 188.06 and a beta of 1.07. The stock’s 50 day moving average is $249.05 and its 200 day moving average is $235.79. Broadcom Limited has a 1-year low of $160.62 and a 1-year high of $259.36.

Broadcom Limited (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, August 24th. The semiconductor manufacturer reported $4.10 EPS for the quarter, beating the consensus estimate of $4.03 by $0.07. The company had revenue of $4.47 billion during the quarter, compared to analysts’ expectations of $4.46 billion. Broadcom Limited had a net margin of 3.12% and a return on equity of 26.82%. Broadcom Limited’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.89 earnings per share. Analysts predict that Broadcom Limited will post $15.92 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Tuesday, September 19th will be paid a dividend of $1.02 per share. The ex-dividend date of this dividend is Monday, September 18th. This represents a $4.08 annualized dividend and a yield of 1.65%. Broadcom Limited’s dividend payout ratio is currently 348.72%.

Broadcom Limited Company Profile

Broadcom Limited is a designer, developer and global supplier of a range of semiconductor devices with a focus on digital and mixed signal complementary metal oxide semiconductor (CMOS)-based devices and analog III-V based products. The Company operates through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

Institutional Ownership by Quarter for Broadcom Limited (NASDAQ:AVGO)

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