Lewis Asset Management LLC Has $3.74 Million Position in Broadcom Inc. $AVGO

Key Points

• Lewis Asset Management LLC increased its stake in Broadcom Inc. by 31.9% in Q2, now holding 13,568 shares valued at approximately $3.74 million.
• Broadcom's stock has a consensus rating of Buy from analysts, with price targets increasing to range from $370 to $420.
• CEO Hock E. Tan sold 148,154 shares of Broadcom stock for about $49.9 million, reducing his holdings by 15.21%.

Lewis Asset Management LLC boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 31.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,568 shares of the semiconductor manufacturer's stock after purchasing an additional 3,285 shares during the quarter. Broadcom accounts for about 1.8% of Lewis Asset Management LLC's investment portfolio, making the stock its 11th biggest holding. Lewis Asset Management LLC's holdings in Broadcom were worth $3,740,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of AVGO. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Broadcom in the first quarter valued at approximately $25,000. Cheviot Value Management LLC acquired a new position in shares of Broadcom in the first quarter valued at approximately $25,000. Inlight Wealth Management LLC acquired a new position in shares of Broadcom in the first quarter valued at approximately $26,000. Sawyer & Company Inc boosted its holdings in shares of Broadcom by 62.1% in the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock valued at $26,000 after buying an additional 36 shares during the period. Finally, Vermillion Wealth Management Inc. acquired a new position in shares of Broadcom in the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Piper Sandler boosted their price objective on shares of Broadcom from $315.00 to $375.00 and gave the stock an "overweight" rating in a research report on Friday, September 5th. Macquarie assumed coverage on shares of Broadcom in a research report on Monday, September 15th. They issued an "outperform" rating and a $420.00 price objective on the stock. TD Cowen boosted their price objective on shares of Broadcom from $355.00 to $370.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Mizuho boosted their price objective on shares of Broadcom from $355.00 to $410.00 and gave the stock an "outperform" rating in a research report on Friday, September 12th. Finally, Bank of America upped their price target on shares of Broadcom from $300.00 to $400.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, Broadcom currently has a consensus rating of "Buy" and an average target price of $356.48.

Insider Transactions at Broadcom

In related news, CEO Hock E. Tan sold 148,154 shares of the firm's stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $336.67, for a total value of $49,879,007.18. Following the completion of the transaction, the chief executive officer owned 825,998 shares in the company, valued at $278,088,746.66. This trade represents a 15.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kirsten M. Spears sold 7,498 shares of the firm's stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $347.66, for a total transaction of $2,606,754.68. Following the completion of the transaction, the chief financial officer owned 313,330 shares of the company's stock, valued at approximately $108,932,307.80. This trade represents a 2.34% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have purchased 3,550 shares of company stock valued at $1,227,869 and have sold 714,172 shares valued at $204,311,160. 2.00% of the stock is owned by insiders.

Broadcom Trading Down 1.8%

Shares of Broadcom stock opened at $338.79 on Tuesday. The company has a market capitalization of $1.60 trillion, a price-to-earnings ratio of 86.43, a PEG ratio of 1.91 and a beta of 1.16. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86. Broadcom Inc. has a 12-month low of $138.10 and a 12-month high of $374.23. The firm's 50-day moving average price is $309.32 and its two-hundred day moving average price is $249.20.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, topping analysts' consensus estimates of $1.66 by $0.03. The firm had revenue of $15.95 billion during the quarter, compared to analysts' expectations of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The business's revenue for the quarter was up 22.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. On average, analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd will be issued a $0.59 dividend. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. Broadcom's dividend payout ratio is 60.20%.

Broadcom 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.

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