Broadcom Inc. (NASDAQ:AVGO) Stock Position Boosted by Banque Cantonale Vaudoise

Banque Cantonale Vaudoise boosted its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1,377.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 151,627 shares of the semiconductor manufacturer's stock after purchasing an additional 141,367 shares during the quarter. Broadcom makes up approximately 1.1% of Banque Cantonale Vaudoise's investment portfolio, making the stock its 10th largest holding. Banque Cantonale Vaudoise's holdings in Broadcom were worth $26,157,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Stonebridge Capital Advisors LLC grew its stake in Broadcom by 18.9% during the 1st quarter. Stonebridge Capital Advisors LLC now owns 226 shares of the semiconductor manufacturer's stock worth $300,000 after buying an additional 36 shares during the last quarter. Gamco Investors INC. ET AL raised its position in shares of Broadcom by 80.5% in the 1st quarter. Gamco Investors INC. ET AL now owns 897 shares of the semiconductor manufacturer's stock valued at $1,189,000 after purchasing an additional 400 shares during the last quarter. Epoch Investment Partners Inc. raised its holdings in shares of Broadcom by 6.2% in the first quarter. Epoch Investment Partners Inc. now owns 395,266 shares of the semiconductor manufacturer's stock worth $523,890,000 after buying an additional 23,162 shares during the last quarter. Lazard Asset Management LLC lifted its stake in shares of Broadcom by 297.2% during the first quarter. Lazard Asset Management LLC now owns 523,732 shares of the semiconductor manufacturer's stock worth $694,158,000 after buying an additional 391,877 shares during the period. Finally, Steel Grove Capital Advisors LLC grew its holdings in shares of Broadcom by 75.5% during the first quarter. Steel Grove Capital Advisors LLC now owns 918 shares of the semiconductor manufacturer's stock valued at $1,217,000 after buying an additional 395 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Price Performance

Shares of AVGO stock traded down $1.38 on Friday, reaching $162.56. 2,394,678 shares of the company were exchanged, compared to its average volume of 29,229,432. The company has a market cap of $759.25 billion, a price-to-earnings ratio of 142.39, a P/E/G ratio of 1.94 and a beta of 1.17. Broadcom Inc. has a 1 year low of $90.31 and a 1 year high of $186.42. The business has a 50-day moving average price of $173.77 and a 200 day moving average price of $160.37. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating analysts' consensus estimates of $1.20 by $0.04. The business had revenue of $13.07 billion during the quarter, compared to analysts' expectations of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business's revenue was up 47.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.95 earnings per share. Equities research analysts forecast that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were issued a $0.53 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a yield of 1.30%. This is a positive change from Broadcom's previous quarterly dividend of $0.53. Broadcom's dividend payout ratio (DPR) is presently 184.19%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on AVGO shares. The Goldman Sachs Group lifted their price target on Broadcom from $185.00 to $190.00 and gave the stock a "buy" rating in a research report on Friday, September 6th. JPMorgan Chase & Co. lifted their target price on Broadcom from $200.00 to $210.00 and gave the stock an "overweight" rating in a report on Friday, September 6th. Cantor Fitzgerald raised their price target on shares of Broadcom from $200.00 to $225.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 8th. Rosenblatt Securities cut their price objective on shares of Broadcom from $2,400.00 to $240.00 and set a "buy" rating on the stock in a research note on Friday, September 6th. Finally, UBS Group increased their price target on Broadcom from $170.00 to $200.00 and gave the stock a "buy" rating in a research report on Monday, November 4th. Two research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $192.79.

Insider Transactions at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 20,280 shares of the firm's stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $177.10, for a total value of $3,591,588.00. Following the transaction, the insider now directly owns 399,460 shares of the company's stock, valued at $70,744,366. This trade represents a 4.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Charlie B. Kawwas sold 15,950 shares of the company's stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $181.44, for a total value of $2,893,968.00. Following the completion of the sale, the insider now owns 737,330 shares of the company's stock, valued at $133,781,155.20. This trade represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 311,080 shares of company stock valued at $53,540,590 over the last 90 days. 2.00% of the stock is currently owned by corporate insiders.

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.