BNP PARIBAS ASSET MANAGEMENT Holding S.A. Boosts Stake in Broadcom Inc. (NASDAQ:AVGO)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 2,241.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,872,745 shares of the semiconductor manufacturer's stock after buying an additional 1,792,753 shares during the quarter. Broadcom makes up approximately 0.8% of BNP PARIBAS ASSET MANAGEMENT Holding S.A.'s investment portfolio, making the stock its 18th largest position. BNP PARIBAS ASSET MANAGEMENT Holding S.A.'s holdings in Broadcom were worth $323,049,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Gamco Investors INC. ET AL increased its position in Broadcom by 80.5% during 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 period. Earnest Partners LLC lifted its holdings in shares of Broadcom by 11.8% in the 1st quarter. Earnest Partners LLC now owns 208 shares of the semiconductor manufacturer's stock worth $276,000 after purchasing an additional 22 shares in the last quarter. Caxton Associates LP lifted its holdings in shares of Broadcom by 5,434.5% in the 1st quarter. Caxton Associates LP now owns 47,486 shares of the semiconductor manufacturer's stock worth $62,938,000 after purchasing an additional 46,628 shares in the last quarter. Captrust Financial Advisors lifted its holdings in shares of Broadcom by 214.1% in the 1st quarter. Captrust Financial Advisors now owns 499,556 shares of the semiconductor manufacturer's stock worth $662,117,000 after purchasing an additional 340,504 shares in the last quarter. Finally, Waverly Advisors LLC lifted its holdings in shares of Broadcom by 194.0% in the 1st quarter. Waverly Advisors LLC now owns 3,587 shares of the semiconductor manufacturer's stock worth $4,754,000 after purchasing an additional 2,367 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Broadcom Stock Performance

Broadcom stock traded up $0.29 during mid-day trading on Friday, reaching $164.23. 17,332,473 shares of the company traded hands, compared to its average volume of 18,615,522. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. Broadcom Inc. has a fifty-two week low of $90.31 and a fifty-two week high of $186.42. The company has a market capitalization of $767.05 billion, a price-to-earnings ratio of 142.81, a price-to-earnings-growth ratio of 1.93 and a beta of 1.17. The firm's fifty day moving average is $173.70 and its two-hundred day moving average is $160.62.

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

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were paid 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 dividend yield of 1.29%. This is a positive change from Broadcom's previous quarterly dividend of $0.53. Broadcom's dividend payout ratio is presently 184.35%.

Analyst Ratings Changes

AVGO has been the topic of several recent analyst reports. UBS Group raised their price objective on Broadcom from $170.00 to $200.00 and gave the company a "buy" rating in a research note on Monday, November 4th. Mizuho lifted their target price on Broadcom from $190.00 to $220.00 and gave the stock an "outperform" rating in a research note on Monday, October 14th. Truist Financial lifted their target price on Broadcom from $204.00 to $205.00 and gave the stock a "buy" rating in a research note on Tuesday, October 8th. Benchmark reiterated a "buy" rating and set a $210.00 target price on shares of Broadcom in a research note on Friday, September 6th. Finally, William Blair assumed coverage on Broadcom in a report on Wednesday, September 18th. They issued an "outperform" rating for the company. Two research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $192.79.

Insider Transactions at Broadcom

In related news, CEO Hock E. Tan sold 150,000 shares of the firm's stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $172.94, for a total transaction of $25,941,000.00. Following the sale, the chief executive officer now owns 1,181,910 shares in the company, valued at approximately $204,399,515.40. This trade represents a 11.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Charlie B. Kawwas sold 25,200 shares of Broadcom stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the completion of the sale, the insider now owns 753,280 shares in the company, valued at approximately $126,754,425.60. This trade represents a 3.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 311,080 shares of company stock worth $53,540,590 over the last 90 days. 2.00% of the stock is currently owned by company insiders.

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.