Oddo BHF Asset Management Sas Acquires New Stake in Broadcom Inc. (NASDAQ:AVGO)

Oddo BHF Asset Management Sas acquired a new position in shares of Broadcom Inc. (NASDAQ:AVGO) in the third quarter, HoldingsChannel.com reports. The fund acquired 204,624 shares of the semiconductor manufacturer’s stock, valued at approximately $35,298,000. Broadcom makes up about 1.8% of Oddo BHF Asset Management Sas’ holdings, making the stock its 6th largest position.

Several other hedge funds also recently made changes to their positions in the company. State Street Corp boosted its stake in shares of Broadcom by 948.5% in the third quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock valued at $31,814,902,000 after buying an additional 166,844,263 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Broadcom by 976.6% during the 3rd quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock worth $17,055,760,000 after purchasing an additional 89,975,941 shares in the last quarter. FMR LLC boosted its position in shares of Broadcom by 1,121.3% during the 3rd quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock worth $15,594,088,000 after purchasing an additional 82,998,328 shares in the last quarter. Jennison Associates LLC grew its stake in shares of Broadcom by 842.4% during the 3rd quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer’s stock worth $6,209,758,000 after purchasing an additional 32,178,542 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Broadcom by 975.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer’s stock valued at $5,833,894,000 after purchasing an additional 30,674,902 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Buying and Selling

In other news, insider Charlie B. Kawwas sold 15,950 shares of Broadcom stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the sale, the insider now owns 737,330 shares in the company, valued at $133,781,155.20. This trade represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. The trade was a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 311,080 shares of company stock valued at $53,540,590. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of research analyst reports. Morgan Stanley boosted their price objective on shares of Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Mizuho boosted their price target on Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Hsbc Global Res raised Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Truist Financial lifted their price objective on Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Finally, Robert W. Baird upped their target price on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a report on Friday. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $210.63.

Broadcom Stock Down 1.4 %

Shares of NASDAQ:AVGO opened at $180.66 on Friday. The stock has a 50-day simple moving average of $173.65 and a 200-day simple moving average of $163.86. The stock has a market capitalization of $843.79 billion, a P/E ratio of 156.96, a PEG ratio of 2.15 and a beta of 1.13. Broadcom Inc. has a 1 year low of $104.15 and a 1 year high of $186.42. 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) last announced its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same period in the prior year, the company earned $0.98 EPS. The firm’s revenue was up 51.2% on a year-over-year basis. Equities analysts forecast that Broadcom Inc. will post 3.79 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 23rd will be issued a dividend of $0.59 per share. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a dividend yield of 1.31%. Broadcom’s dividend payout ratio (DPR) is presently 184.19%.

About Broadcom

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.