Lyrical Asset Management LP Acquires 5,490 Shares of Broadcom Inc. (NASDAQ:AVGO)

Lyrical Asset Management LP raised its holdings in Broadcom Inc. (NASDAQ:AVGO) by 0.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 753,191 shares of the semiconductor manufacturer’s stock after buying an additional 5,490 shares during the period. Broadcom accounts for about 4.6% of Lyrical Asset Management LP’s portfolio, making the stock its 8th largest holding. Lyrical Asset Management LP’s holdings in Broadcom were worth $329,785,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. SeaCrest Wealth Management LLC increased its stake in Broadcom by 9.5% in the 4th quarter. SeaCrest Wealth Management LLC now owns 7,598 shares of the semiconductor manufacturer’s stock valued at $3,327,000 after buying an additional 658 shares during the last quarter. Marietta Wealth Management LLC grew its position in shares of Broadcom by 1.9% in the 4th quarter. Marietta Wealth Management LLC now owns 8,295 shares of the semiconductor manufacturer’s stock valued at $3,632,000 after acquiring an additional 155 shares during the period. Premier Fund Managers Ltd grew its position in shares of Broadcom by 16.2% in the 4th quarter. Premier Fund Managers Ltd now owns 8,807 shares of the semiconductor manufacturer’s stock valued at $3,831,000 after acquiring an additional 1,227 shares during the period. Blair William & Co. IL grew its position in shares of Broadcom by 35.9% in the 4th quarter. Blair William & Co. IL now owns 21,295 shares of the semiconductor manufacturer’s stock valued at $9,324,000 after acquiring an additional 5,627 shares during the period. Finally, Chartwell Investment Partners LLC grew its position in shares of Broadcom by 2.9% in the 4th quarter. Chartwell Investment Partners LLC now owns 6,317 shares of the semiconductor manufacturer’s stock valued at $2,766,000 after acquiring an additional 177 shares during the period. Hedge funds and other institutional investors own 80.62% of the company’s stock.

A number of brokerages have recently commented on AVGO. Zacks Investment Research raised shares of Broadcom from a “hold” rating to a “buy” rating and set a $439.00 price objective for the company in a research report on Wednesday, December 16th. Wells Fargo & Company lifted their price objective on shares of Broadcom from $360.00 to $410.00 and gave the company an “equal weight” rating in a research report on Friday, December 11th. Barclays lifted their price objective on shares of Broadcom from $450.00 to $500.00 and gave the company an “overweight” rating in a research report on Tuesday, January 26th. They noted that the move was a valuation call. Morgan Stanley lifted their price objective on shares of Broadcom from $415.00 to $440.00 and gave the company an “overweight” rating in a research report on Monday, December 7th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $470.00 price objective (up previously from $430.00) on shares of Broadcom in a research report on Friday, December 11th. Five research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $422.59.

NASDAQ AVGO traded down $7.82 during trading on Tuesday, reaching $468.54. The company’s stock had a trading volume of 42,652 shares, compared to its average volume of 1,637,027. The company has a current ratio of 1.87, a quick ratio of 1.71 and a debt-to-equity ratio of 1.69. The firm has a market capitalization of $190.56 billion, a price-to-earnings ratio of 74.24, a price-to-earnings-growth ratio of 1.50 and a beta of 1.05. Broadcom Inc. has a 12 month low of $155.67 and a 12 month high of $495.14. The firm has a 50 day moving average price of $461.79 and a 200 day moving average price of $396.97.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Wednesday, December 9th. The semiconductor manufacturer reported $6.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $6.25 by $0.10. The firm had revenue of $6.47 billion during the quarter, compared to the consensus estimate of $6.43 billion. Broadcom had a net margin of 12.39% and a return on equity of 35.23%. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.39 EPS. On average, equities analysts forecast that Broadcom Inc. will post 23.14 EPS for the current fiscal year.

In other news, CEO Hock E. Tan sold 78,125 shares of the business’s stock in a transaction that occurred on Tuesday, December 8th. The shares were sold at an average price of $422.43, for a total value of $33,002,343.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Thomas H. Krause sold 2,550 shares of the business’s stock in a transaction that occurred on Tuesday, December 15th. The shares were sold at an average price of $415.46, for a total transaction of $1,059,423.00. The disclosure for this sale can be found here. Insiders sold a total of 178,268 shares of company stock valued at $76,098,016 over the last 90 days. Corporate insiders own 3.00% of the company’s stock.

Broadcom Profile

Broadcom Inc designs, develops, and supplies semiconductor infrastructure software solutions. It offers 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's infrastructure software solutions enable customers to plan, develop, automate, manage, and secure applications across mainframe, distributed, mobile, and cloud platforms.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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