Leelyn Smith LLC Has $4.46 Million Position in Broadcom Inc. $AVGO

Leelyn Smith LLC grew its stake in Broadcom Inc. (NASDAQ:AVGO) by 15.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,518 shares of the semiconductor manufacturer’s stock after purchasing 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.

A number of other hedge funds also recently modified their holdings of AVGO. JCIC Asset Management Inc. bought a new position in Broadcom in the 3rd quarter valued at about $31,000. Longfellow Investment Management Co. LLC acquired a new position in shares of Broadcom in the second quarter valued at approximately $27,000. Teachers Insurance & Annuity Association of America bought a new position in shares of Broadcom during the second quarter worth approximately $28,000. Manning & Napier Advisors LLC acquired a new stake in Broadcom during the 3rd quarter worth approximately $34,000. Finally, LGT Financial Advisors LLC bought a new stake in Broadcom in the 2nd quarter valued at $31,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Benchmark upped their price objective on Broadcom from $385.00 to $485.00 and gave the company a “buy” rating in a report on Friday, December 12th. Raymond James Financial set a $420.00 price target on shares of Broadcom and gave the company an “outperform” rating in a research note on Thursday, November 20th. Wells Fargo & Company upgraded shares of Broadcom from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $410.00 to $430.00 in a research note on Thursday, January 15th. Robert W. Baird set a $420.00 target price on shares of Broadcom in a research report on Friday, December 12th. Finally, Royal Bank Of Canada assumed coverage on shares of Broadcom in a report on Wednesday, January 14th. They set a “sector perform” rating and a $370.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Broadcom has an average rating of “Buy” and a consensus target price of $438.61.

Broadcom Price Performance

AVGO stock opened at $332.79 on Wednesday. The company’s 50-day moving average price is $356.69 and its two-hundred day moving average price is $336.92. The firm has a market cap of $1.58 trillion, a P/E ratio of 69.91, a P/E/G ratio of 1.08 and a beta of 1.21. The company has a quick ratio of 1.58, a current ratio of 1.71 and a debt-to-equity ratio of 0.76. Broadcom Inc. has a 12 month low of $138.10 and a 12 month high of $414.61.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $0.08. The company had revenue of $18.02 billion during the quarter, compared to the consensus estimate of $17.46 billion. Broadcom had a net margin of 36.20% and a return on equity of 37.45%. The firm’s quarterly revenue was up 28.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.42 EPS. On average, analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 22nd were issued a $0.65 dividend. The ex-dividend date of this dividend was Monday, December 22nd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.8%. This is a boost from Broadcom’s previous quarterly dividend of $0.59. Broadcom’s dividend payout ratio (DPR) is 54.62%.

Insiders Place Their Bets

In other news, Director Henry Samueli sold 320,316 shares of the business’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $400.53, for a total transaction of $128,296,167.48. Following the completion of the transaction, the director owned 37,326,540 shares of the company’s stock, valued at approximately $14,950,399,066.20. The trade was a 0.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kirsten M. Spears sold 30,000 shares of the company’s stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $347.82, for a total value of $10,434,600.00. Following the sale, the chief financial officer owned 277,237 shares of the company’s stock, valued at approximately $96,428,573.34. This represents a 9.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 779,901 shares of company stock worth $284,069,237. 2.00% of the stock is currently 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.