Laird Norton Wetherby Wealth Management LLC Has $19.63 Million Position in Broadcom Inc. (NASDAQ:AVGO)

Laird Norton Wetherby Wealth Management LLC trimmed its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 84,660 shares of the semiconductor manufacturer's stock after selling 3,245 shares during the period. Broadcom accounts for about 0.9% of Laird Norton Wetherby Wealth Management LLC's investment portfolio, making the stock its 15th largest position. Laird Norton Wetherby Wealth Management LLC's holdings in Broadcom were worth $19,628,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Lighthouse Investment Partners LLC grew its holdings in shares of Broadcom by 88.2% during the 4th quarter. Lighthouse Investment Partners LLC now owns 7,529 shares of the semiconductor manufacturer's stock worth $1,746,000 after purchasing an additional 3,529 shares in the last quarter. Investment Management Corp of Ontario grew its holdings in shares of Broadcom by 121.9% during the 4th quarter. Investment Management Corp of Ontario now owns 367,450 shares of the semiconductor manufacturer's stock worth $85,190,000 after purchasing an additional 201,838 shares in the last quarter. Investor s Fiduciary Advisor Network LLC acquired a new stake in shares of Broadcom during the 4th quarter worth approximately $3,669,000. Jacobs Levy Equity Management Inc. boosted its stake in Broadcom by 198.5% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 365,692 shares of the semiconductor manufacturer's stock valued at $84,782,000 after buying an additional 243,186 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in Broadcom by 14.8% in the 4th quarter. Janus Henderson Group PLC now owns 15,358,690 shares of the semiconductor manufacturer's stock valued at $3,560,643,000 after buying an additional 1,974,620 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Seaport Res Ptn raised Broadcom to a "strong-buy" rating in a research note on Wednesday, April 30th. Citigroup decreased their price target on Broadcom from $220.00 to $210.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. William Blair reaffirmed an "outperform" rating on shares of Broadcom in a research note on Friday, March 7th. Bank of America dropped their target price on Broadcom from $260.00 to $240.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $300.00 target price on shares of Broadcom in a research note on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $229.48.

Broadcom Stock Performance

Shares of AVGO traded down $0.30 during mid-day trading on Wednesday, reaching $232.12. The company's stock had a trading volume of 19,725,070 shares, compared to its average volume of 31,280,223. Broadcom Inc. has a 1-year low of $128.50 and a 1-year high of $251.88. The stock has a market cap of $1.09 trillion, a P/E ratio of 189.33, a PEG ratio of 2.29 and a beta of 1.04. The business has a 50-day simple moving average of $184.61 and a two-hundred day simple moving average of $198.26. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date was Thursday, March 20th. Broadcom's dividend payout ratio is currently 113.46%.

Broadcom declared that its Board of Directors has approved a stock repurchase plan on Monday, April 7th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor manufacturer to purchase up to 1.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Henry Samueli sold 663,976 shares of the business's stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total value of $120,578,041.60. Following the completion of the sale, the director now owns 38,798,721 shares of the company's stock, valued at $7,045,847,733.60. The trade was a 1.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Justine Page sold 800 shares of the business's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $185.00, for a total transaction of $148,000.00. Following the completion of the sale, the director now directly owns 25,380 shares of the company's stock, valued at $4,695,300. This represents a 3.06% decrease in their position. The disclosure for this sale can be found here. Insiders sold 719,776 shares of company stock valued at $131,065,542 in the last quarter. Company insiders own 2.00% of the company's stock.

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.