Lazard Freres Gestion S.A.S. Has $6.30 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

Lazard Freres Gestion S.A.S. raised its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1,821.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,500 shares of the semiconductor manufacturer's stock after purchasing an additional 34,600 shares during the quarter. Lazard Freres Gestion S.A.S.'s holdings in Broadcom were worth $6,296,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in AVGO. Castleview Partners LLC increased its stake in Broadcom by 1,030.8% during the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer's stock valued at $25,000 after buying an additional 134 shares during the period. Tsfg LLC boosted its holdings in shares of Broadcom by 1,073.7% in the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer's stock valued at $38,000 after acquiring an additional 204 shares in the last quarter. Cedar Wealth Management LLC increased its stake in shares of Broadcom by 900.0% during the third quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer's stock valued at $41,000 after acquiring an additional 216 shares during the period. Krane Funds Advisors LLC bought a new stake in Broadcom during the third quarter worth approximately $42,000. Finally, Highline Wealth Partners LLC acquired a new stake in Broadcom in the third quarter worth approximately $45,000. Institutional investors own 76.43% of the company's stock.

Insider Transactions at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 20,280 shares of Broadcom stock in a transaction that occurred on Monday, October 7th. The stock was 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. The trade was a 4.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Hock E. Tan sold 150,000 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 1,181,910 shares of the company's stock, valued at approximately $204,399,515.40. The trade was a 11.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 311,080 shares of company stock valued at $53,540,590 in the last three months. Corporate insiders own 2.00% of the company's stock.

Broadcom Stock Down 3.1 %

Shares of NASDAQ AVGO traded down $5.07 during mid-day trading on Thursday, reaching $159.67. The company had a trading volume of 19,722,723 shares, compared to its average volume of 29,185,664. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The company has a market capitalization of $745.75 billion, a price-to-earnings ratio of 138.84, a PEG ratio of 1.94 and a beta of 1.17. The stock has a fifty day moving average of $173.57 and a two-hundred day moving average of $161.49. Broadcom Inc. has a 12-month low of $90.31 and a 12-month high of $186.42.

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

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were given a $0.53 dividend. This is a positive change from Broadcom's previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a yield of 1.33%. The ex-dividend date was Thursday, September 19th. Broadcom's dividend payout ratio is presently 184.35%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on AVGO shares. JPMorgan Chase & Co. boosted their price objective on Broadcom from $200.00 to $210.00 and gave the stock an "overweight" rating in a research note on Friday, September 6th. TD Cowen upgraded shares of Broadcom to a "strong-buy" rating in a research report on Monday, September 16th. The Goldman Sachs Group upped their price target on shares of Broadcom from $185.00 to $190.00 and gave the company a "buy" rating in a report on Friday, September 6th. Benchmark reaffirmed a "buy" rating and issued a $210.00 price objective on shares of Broadcom in a research note on Friday, September 6th. Finally, UBS Group increased their target price on shares of Broadcom from $170.00 to $200.00 and gave the company a "buy" rating in a research note on Monday, November 4th. Two investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Broadcom has a consensus rating of "Moderate Buy" and an average price target of $195.96.

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.