Leelyn Smith LLC Buys 1,776 Shares of Broadcom Inc. $AVGO

Leelyn Smith LLC grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 15.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,518 shares of the semiconductor manufacturer’s stock after buying an additional 1,776 shares during the quarter. Leelyn Smith LLC’s holdings in Broadcom were worth $4,460,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Arthur M. Cohen & Associates LLC grew its position in Broadcom by 0.6% during the 3rd quarter. Arthur M. Cohen & Associates LLC now owns 4,781 shares of the semiconductor manufacturer’s stock worth $1,577,000 after acquiring an additional 30 shares during the last quarter. Jackson Hole Capital Partners LLC boosted its stake in shares of Broadcom by 1.4% during the third quarter. Jackson Hole Capital Partners LLC now owns 2,170 shares of the semiconductor manufacturer’s stock valued at $716,000 after purchasing an additional 30 shares in the last quarter. McHugh Group LLC grew its holdings in shares of Broadcom by 0.4% during the third quarter. McHugh Group LLC now owns 8,433 shares of the semiconductor manufacturer’s stock worth $2,782,000 after purchasing an additional 31 shares during the last quarter. Smith Thornton Advisors LLC increased its stake in shares of Broadcom by 1.4% in the third quarter. Smith Thornton Advisors LLC now owns 2,313 shares of the semiconductor manufacturer’s stock valued at $763,000 after buying an additional 31 shares during the period. Finally, FWG Investments LLC. increased its stake in shares of Broadcom by 2.7% in the third quarter. FWG Investments LLC. now owns 1,177 shares of the semiconductor manufacturer’s stock valued at $388,000 after buying an additional 31 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Broadcom in a report on Monday, December 29th. Piper Sandler reissued an “overweight” rating and issued a $430.00 price objective (up previously from $375.00) on shares of Broadcom in a research note on Friday, December 12th. Bank of America raised their target price on Broadcom from $460.00 to $500.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Wells Fargo & Company raised Broadcom from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $410.00 to $430.00 in a report on Thursday, January 15th. Finally, UBS Group set a $475.00 price target on Broadcom and gave the company a “buy” rating in a research note on Monday, December 15th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $438.61.

Broadcom Stock Performance

Shares of Broadcom stock opened at $332.79 on Wednesday. The business has a 50-day moving average price of $356.69 and a two-hundred day moving average price of $336.92. Broadcom Inc. has a 1-year low of $138.10 and a 1-year high of $414.61. The company has a current ratio of 1.71, a quick ratio of 1.58 and a debt-to-equity ratio of 0.76. The company has a market cap of $1.58 trillion, a P/E ratio of 69.91, a PEG ratio of 1.08 and a beta of 1.21.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 EPS for the quarter, beating the consensus estimate of $1.87 by $0.08. Broadcom had a return on equity of 37.45% and a net margin of 36.20%.The company had revenue of $18.02 billion for the quarter, compared to analyst estimates of $17.46 billion. During the same quarter in the prior year, the company earned $1.42 EPS. The firm’s revenue for the quarter was up 28.2% compared to the same quarter last year. As a group, analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd were given a dividend of $0.65 per share. This is a positive change from Broadcom’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Monday, December 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.8%. Broadcom’s payout ratio is 54.62%.

Insider Buying and Selling

In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of Broadcom stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $347.12, for a total value of $10,413,600.00. Following the completion of the sale, the insider directly owned 210,573 shares of the company’s stock, valued at approximately $73,094,099.76. The trade was a 12.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kirsten M. Spears sold 30,000 shares of the company’s stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $347.82, for a total transaction of $10,434,600.00. Following the transaction, the chief financial officer owned 277,237 shares in the company, valued at $96,428,573.34. This represents a 9.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 779,901 shares of company stock worth $284,069,237 over the last ninety days. 2.00% of the stock is owned by company insiders.

Broadcom Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.