Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by EULAV Asset Management

EULAV Asset Management grew its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1,149.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,048 shares of the semiconductor manufacturer's stock after acquiring an additional 32,244 shares during the quarter. EULAV Asset Management's holdings in Broadcom were worth $6,046,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. AXA S.A. boosted its position in Broadcom by 2.7% during the 2nd quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer's stock worth $467,334,000 after purchasing an additional 7,608 shares during the period. Catalyst Financial Partners LLC lifted its stake in shares of Broadcom by 943.3% during the third quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer's stock worth $3,473,000 after purchasing an additional 18,206 shares in the last quarter. Whittier Trust Co. boosted its position in shares of Broadcom by 947.2% in the third quarter. Whittier Trust Co. now owns 689,858 shares of the semiconductor manufacturer's stock worth $119,000,000 after buying an additional 623,983 shares during the period. Summit Place Financial Advisors LLC grew its stake in shares of Broadcom by 912.6% in the third quarter. Summit Place Financial Advisors LLC now owns 9,802 shares of the semiconductor manufacturer's stock valued at $1,691,000 after buying an additional 8,834 shares in the last quarter. Finally, Signaturefd LLC raised its holdings in shares of Broadcom by 913.0% during the 3rd quarter. Signaturefd LLC now owns 78,977 shares of the semiconductor manufacturer's stock valued at $13,624,000 after buying an additional 71,181 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on AVGO shares. UBS Group increased their price objective on shares of Broadcom from $170.00 to $200.00 and gave the company a "buy" rating in a research report on Monday, November 4th. The Goldman Sachs Group raised 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. JPMorgan Chase & Co. boosted their price objective on shares of Broadcom from $200.00 to $210.00 and gave the stock an "overweight" rating in a report on Friday, September 6th. TD Cowen upgraded Broadcom to a "strong-buy" rating in a research note on Monday, September 16th. Finally, Cantor Fitzgerald boosted their price target on Broadcom from $200.00 to $225.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 8th. Two research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $192.79.

Broadcom Stock Performance

AVGO stock traded up $0.29 during midday trading on Friday, reaching $164.23. The company had a trading volume of 17,332,473 shares, compared to its average volume of 18,615,522. The firm has a market capitalization of $767.05 billion, a PE ratio of 142.81, a P/E/G ratio of 1.93 and a beta of 1.17. The stock has a 50 day moving average price of $173.70 and a 200 day moving average price of $160.62. Broadcom Inc. has a fifty-two week low of $90.31 and a fifty-two week high of $186.42. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data 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. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. The business's revenue for the quarter was up 47.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.95 EPS. Analysts anticipate that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date was Thursday, September 19th. This is a boost from Broadcom's previous quarterly dividend of $0.53. Broadcom's dividend payout ratio (DPR) is 184.35%.

Insider Buying and Selling at Broadcom

In related news, insider Charlie B. Kawwas sold 15,950 shares of the stock in a transaction dated 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 transaction, the insider now owns 737,330 shares in the company, valued at $133,781,155.20. This represents a 2.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Mark David Brazeal sold 18,900 shares of the company's stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the completion of the sale, the insider now directly owns 380,560 shares of the company's stock, valued at approximately $69,596,812.80. This represents a 4.73 % 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 in the last ninety days. Company insiders own 2.00% of the company's stock.

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.