Lyell Wealth Management LP Has $1.76 Million Holdings in Broadcom Inc. (NASDAQ:AVGO)

Lyell Wealth Management LP boosted its position in Broadcom Inc. (NASDAQ:AVGO) by 3.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,577 shares of the semiconductor manufacturer’s stock after buying 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 and other institutional investors have also bought and sold shares of the company. Impact Partnership Wealth LLC lifted its holdings in Broadcom by 151.8% during the 3rd quarter. Impact Partnership Wealth LLC now owns 141 shares of the semiconductor manufacturer’s stock valued at $117,000 after purchasing an additional 85 shares during the last quarter. Boston Trust Walden Corp lifted its holdings in Broadcom by 0.6% during the 3rd quarter. Boston Trust Walden Corp now owns 2,381 shares of the semiconductor manufacturer’s stock valued at $1,978,000 after purchasing an additional 15 shares during the last quarter. Strategic Blueprint LLC lifted its holdings in Broadcom by 8.1% during the 3rd 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 last quarter. Washington Trust Advisors Inc. lifted its holdings in Broadcom by 87.0% during the 3rd 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 last quarter. Finally, Capital Asset Advisory Services LLC raised its stake in shares of Broadcom by 6.1% in the third quarter. Capital Asset Advisory Services LLC now owns 830 shares of the semiconductor manufacturer’s stock worth $726,000 after acquiring an additional 48 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. UBS Group boosted their target price on shares of Broadcom to $1,480.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. Barclays lifted their price target on shares of Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $1,700.00 price target on shares of Broadcom in a research report on Thursday, March 21st. Cantor Fitzgerald lifted their price target on shares of Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a research report on Monday, March 4th. Finally, StockNews.com cut shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Three analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $1,285.41.

Insiders Place Their Bets

In other Broadcom news, Director Justine Page sold 110 shares of the stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the sale, the director now directly owns 3,125 shares in the company, valued at $4,134,375. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Mark David Brazeal sold 2,500 shares of the stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $1,316.46, for a total value of $3,291,150.00. Following the completion of the transaction, the insider now owns 41,974 shares of the company’s stock, valued at $55,257,092.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Justine Page sold 110 shares of the stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the completion of the transaction, the director now directly owns 3,125 shares of the company’s stock, valued at approximately $4,134,375. The disclosure for this sale can be found here. Insiders have sold 29,920 shares of company stock worth $40,306,667 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

Shares of AVGO traded up $44.23 during trading hours on Thursday, hitting $1,301.05. The company 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 business has a fifty day moving average of $1,304.15 and a 200-day moving average of $1,129.53. Broadcom Inc. has a 12 month low of $601.29 and a 12 month high of $1,438.17. The firm has a market cap of $602.93 billion, a price-to-earnings ratio of 47.94, a PEG ratio of 2.55 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, beating the consensus estimate of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The business had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. During the same period in the prior year, the company posted $9.83 earnings per share. Broadcom’s revenue was up 34.2% compared to the same quarter last year. Equities analysts anticipate that Broadcom Inc. will post 35.88 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid a dividend of $5.25 per share. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a yield of 1.61%. Broadcom’s payout ratio is 77.84%.

Broadcom Company 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.