Lyell Wealth Management LP Purchases 3,130 Shares of Broadcom Inc. $AVGO

Lyell Wealth Management LP increased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 6.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 49,145 shares of the semiconductor manufacturer’s stock after buying an additional 3,130 shares during the quarter. Broadcom comprises approximately 1.0% of Lyell Wealth Management LP’s investment portfolio, making the stock its 27th largest holding. Lyell Wealth Management LP’s holdings in Broadcom were worth $17,259,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of AVGO. State Street Corp increased its stake in shares of Broadcom by 8.7% in the second quarter. State Street Corp now owns 208,031,610 shares of the semiconductor manufacturer’s stock worth $75,367,711,000 after acquiring an additional 16,651,378 shares during the period. Bank of America Corp DE raised its holdings in shares of Broadcom by 4.6% during the second quarter. Bank of America Corp DE now owns 61,423,013 shares of the semiconductor manufacturer’s stock worth $23,202,543,000 after purchasing an additional 2,685,916 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Broadcom by 3.8% during the second quarter. Wellington Management Group LLP now owns 51,580,703 shares of the semiconductor manufacturer’s stock worth $19,484,611,000 after purchasing an additional 1,892,721 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Broadcom by 2.9% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 40,180,530 shares of the semiconductor manufacturer’s stock valued at $15,178,195,000 after purchasing an additional 1,140,598 shares during the period. Finally, Legal & General Group Plc acquired a new position in Broadcom during the second quarter valued at $11,998,148,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s AI semiconductor revenue is surging, and management sees significant growth potential over the next several years. One analysis argues that the market may not yet reflect that opportunity; another estimates the shares could be undervalued. Prediction: November Will Be a Huge Month for Broadcom Broadcom Stock Could Be 37% Undervalued
• Neutral Sentiment: Some coverage frames the recent pullback as a potential turning point, with a widening gap between AI business growth and the share-price trend. Whether fundamentals prompt a recovery remains uncertain. Broadcom Stock Could Be Approaching a Major Turning Point
• Negative Sentiment: Near-term risks include the broad AI-chip selloff and worries that higher interest rates could curb AI spending. Potential limits on new data-center permits in some states add uncertainty about future infrastructure buildouts. Broadcom’s AI Revenue Is Exploding. Here’s What Investors Should Watch Next. Broadcom Drops Amid Broad Chip Selloff
• Negative Sentiment: Investor positioning has also weighed on sentiment: ARK sold a large Broadcom holding during the selloff while buying Nvidia. Broadcom is still down sharply over the past month, despite the recent lift. ARK Buys Nvidia and Sells Broadcom Broadcom Is Still Down 22% in the Past Month

Broadcom Stock Performance

AVGO traded up $2.16 on Friday, reaching $293.69. The stock had a trading volume of 32,366,942 shares, compared to its average volume of 22,165,412. The business’s 50-day moving average price is $347.89 and its two-hundred day moving average price is $366.17. The company has a market cap of $1.40 trillion, a P/E ratio of 37.51 and a beta of 1.49. Broadcom Inc. has a 12-month low of $289.77 and a 12-month high of $495.00. The company has a current ratio of 2.50, a quick ratio of 2.29 and a debt-to-equity ratio of 0.57.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $0.10. Broadcom had a net margin of 42.94% and a return on equity of 48.33%. The business had revenue of $29.59 billion for the quarter, compared to analyst estimates of $29.24 billion. During the same period in the prior year, the company posted $1.69 EPS. The company’s revenue for the quarter was up 85.5% on a year-over-year basis. Sell-side analysts forecast that Broadcom Inc. will post 10.37 earnings per share for the current year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st were issued a dividend of $0.65 per share. The ex-dividend date of this dividend was Monday, September 21st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.9%. Broadcom’s dividend payout ratio is presently 33.21%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on AVGO shares. Oppenheimer began coverage on shares of Broadcom in a report on Tuesday, October 27th. They issued a “buy” rating on the stock. Truist Financial reduced their price objective on Broadcom from $550.00 to $520.00 and set a “buy” rating for the company in a research note on Thursday, September 3rd. Rosenblatt Securities reissued a “buy” rating and issued a $600.00 price objective on shares of Broadcom in a report on Tuesday, October 27th. Fox Advisors upgraded Broadcom to an “outperform” rating in a research note on Thursday, September 3rd. Finally, Royal Bank Of Canada began coverage on Broadcom in a report on Thursday, September 3rd. They set an “outperform” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus target price of $530.52.

Broadcom Company Profile

Broadcom Inc is a global technology company that designs and supplies semiconductor products and infrastructure software. Its semiconductor portfolio includes chips and components used in networking, broadband communications, wireless connectivity, data storage, and industrial applications. The company serves businesses across a range of industries, including communications, enterprise technology, and consumer electronics.

Broadcom also provides infrastructure software, including products for virtualization, cloud computing, cybersecurity, and enterprise operations.