Lyell Wealth Management LP Boosts Position in Broadcom Inc. (NASDAQ:AVGO)

Lyell Wealth Management LP boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,577 shares of the semiconductor manufacturer’s stock after acquiring an additional 54 shares during the quarter. Lyell Wealth Management LP’s holdings in Broadcom were worth $1,760,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of AVGO. Impact Partnership Wealth LLC increased its position in Broadcom by 151.8% during the third quarter. Impact Partnership Wealth LLC now owns 141 shares of the semiconductor manufacturer’s stock valued at $117,000 after acquiring an additional 85 shares during the last quarter. Boston Trust Walden Corp increased its position in Broadcom by 0.6% during the third quarter. Boston Trust Walden Corp now owns 2,381 shares of the semiconductor manufacturer’s stock valued at $1,978,000 after acquiring an additional 15 shares during the last quarter. Strategic Blueprint LLC grew its holdings in Broadcom by 8.1% during the third quarter. Strategic Blueprint LLC now owns 1,058 shares of the semiconductor manufacturer’s stock valued at $879,000 after purchasing an additional 79 shares during the period. Washington Trust Advisors Inc. grew its holdings in Broadcom by 87.0% during the third quarter. Washington Trust Advisors Inc. now owns 288 shares of the semiconductor manufacturer’s stock valued at $239,000 after purchasing an additional 134 shares during the period. Finally, Capital Asset Advisory Services LLC grew its holdings in Broadcom by 6.1% during the third quarter. Capital Asset Advisory Services LLC now owns 830 shares of the semiconductor manufacturer’s stock valued at $726,000 after purchasing an additional 48 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on AVGO shares. Rosenblatt Securities reissued a “buy” rating and set a $1,500.00 price target on shares of Broadcom in a report on Thursday, March 21st. Mizuho boosted their price target on Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a report on Thursday, March 7th. Benchmark reaffirmed a “buy” rating and issued a $1,720.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. Oppenheimer reaffirmed an “outperform” rating and issued a $1,500.00 price objective (up previously from $1,100.00) on shares of Broadcom in a research note on Friday, March 1st. Finally, Barclays upped their price objective on Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and an average price target of $1,285.41.

Broadcom Trading Up 3.5 %

NASDAQ:AVGO traded up $44.23 during midday trading on Thursday, hitting $1,301.05. The stock had a trading volume of 2,129,230 shares, compared to its average volume of 2,930,171. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $602.93 billion, a price-to-earnings ratio of 47.94, a PEG ratio of 2.55 and a beta of 1.25. The stock has a 50-day moving average of $1,304.15 and a 200 day moving average of $1,129.53. Broadcom Inc. has a one year low of $601.29 and a one year high of $1,438.17.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.95 by $2.04. The business had revenue of $11.96 billion for the quarter, compared to analysts’ expectations of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The business’s revenue for the quarter was up 34.2% on a year-over-year basis. During the same quarter last year, the firm earned $9.83 EPS. As a group, sell-side analysts forecast that Broadcom Inc. will post 35.88 EPS for the current year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were given a dividend of $5.25 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 annualized dividend and a yield of 1.61%. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Insider Buying and Selling at Broadcom

In other news, Director Eddy W. Hartenstein sold 3,150 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the completion of the sale, the director now owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Kenneth Hao sold 9,160 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the completion of the transaction, the director now owns 45 shares in the company, valued at approximately $62,465.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eddy W. Hartenstein sold 3,150 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the completion of the transaction, the director now owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,920 shares of company stock valued at $40,306,667. 2.00% of the stock is currently owned by corporate 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.