Oddo BHF Asset Management Sas Invests $35.30 Million in Broadcom Inc. (NASDAQ:AVGO)

Oddo BHF Asset Management Sas purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 204,624 shares of the semiconductor manufacturer’s stock, valued at approximately $35,298,000. Broadcom comprises 1.8% of Oddo BHF Asset Management Sas’ portfolio, making the stock its 6th biggest position.

Several other large investors also recently bought and sold shares of AVGO. Kiely Wealth Advisory Group Inc. purchased a new position in shares of Broadcom during the 2nd quarter worth $128,000. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of Broadcom in the second quarter valued at about $136,000. American Capital Advisory LLC acquired a new stake in Broadcom during the second quarter worth about $169,000. Semus Wealth Partners LLC purchased a new position in Broadcom during the second quarter worth about $202,000. Finally, Palisades Hudson Asset Management L.P. acquired a new position in Broadcom in the 2nd quarter valued at about $204,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Stock Down 1.4 %

Shares of Broadcom stock opened at $180.66 on Friday. 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 Inc. has a 52-week low of $104.15 and a 52-week high of $186.42. The company has a market capitalization of $843.79 billion, a P/E ratio of 156.96, a P/E/G ratio of 2.15 and a beta of 1.13. The company has a 50 day moving average of $173.65 and a 200 day moving average of $163.86.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.03. The business had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business’s quarterly revenue was up 51.2% on a year-over-year basis. During the same quarter last year, the company earned $0.98 EPS. As a group, research analysts forecast that Broadcom Inc. will post 3.79 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 23rd will be given a $0.59 dividend. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a yield of 1.31%. Broadcom’s payout ratio is 184.19%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on AVGO shares. Deutsche Bank Aktiengesellschaft raised their price target on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a report on Friday. TD Cowen raised their target price on Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday. UBS Group increased their price target on Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, November 4th. The Goldman Sachs Group upped their target price on shares of Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Finally, Citigroup lifted their price target on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and an average price target of $210.63.

Insiders Place Their Bets

In other Broadcom news, insider Charlie B. Kawwas sold 25,200 shares of Broadcom stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $168.27, for a total value of $4,240,404.00. Following the transaction, the insider now directly owns 753,280 shares in the company, valued at approximately $126,754,425.60. The trade was a 3.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the sale, the chief executive officer now owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. This trade represents a 3.62 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is currently owned by 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.