Lombard Odier Asset Management Europe Ltd Purchases Shares of 7,126 Broadcom Inc. (NASDAQ:AVGO)

Lombard Odier Asset Management Europe Ltd acquired a new stake in Broadcom Inc. (NASDAQ:AVGO) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 7,126 shares of the semiconductor manufacturer’s stock, valued at approximately $11,441,000.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Broadcom by 3.0% during the first quarter. Vanguard Group Inc. now owns 44,651,273 shares of the semiconductor manufacturer’s stock valued at $59,181,244,000 after buying an additional 1,303,462 shares during the last quarter. Capital International Investors increased its holdings in shares of Broadcom by 4.5% in the 4th quarter. Capital International Investors now owns 23,330,880 shares of the semiconductor manufacturer’s stock worth $26,044,294,000 after buying an additional 1,006,223 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Broadcom by 3.7% in the fourth quarter. Northern Trust Corp now owns 4,825,465 shares of the semiconductor manufacturer’s stock worth $5,386,425,000 after purchasing an additional 170,063 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of Broadcom by 43.9% in the first quarter. Jennison Associates LLC now owns 4,141,025 shares of the semiconductor manufacturer’s stock valued at $5,488,556,000 after purchasing an additional 1,263,957 shares during the period. Finally, GQG Partners LLC grew its holdings in Broadcom by 48.9% during the 1st quarter. GQG Partners LLC now owns 2,992,833 shares of the semiconductor manufacturer’s stock worth $3,966,730,000 after acquiring an additional 983,328 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total value of $8,168,500.00. Following the completion of the transaction, the chief executive officer now owns 1,331,910 shares in the company, valued at $217,594,136.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Broadcom news, CEO Hock E. Tan sold 7,502 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $1,705.95, for a total value of $12,798,036.90. Following the completion of the sale, the chief executive officer now owns 138,191 shares in the company, valued at $235,746,936.45. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Hock E. Tan sold 50,000 shares of the firm’s stock in a transaction that occurred 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 owns 1,331,910 shares in the company, valued at $217,594,136.70. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

Broadcom Price Performance

AVGO stock opened at $171.10 on Monday. The business’s 50-day moving average is $156.81 and its two-hundred day moving average is $146.91. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The firm has a market capitalization of $796.45 billion, a P/E ratio of 7.36, a P/E/G ratio of 2.55 and a beta of 1.16. Broadcom Inc. has a 1 year low of $79.51 and a 1 year high of $185.16.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. The company had revenue of $13.07 billion for the quarter, compared to analysts’ expectations of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. Broadcom’s quarterly revenue was up 47.3% on a year-over-year basis. During the same period last year, the firm earned $0.95 earnings per share. Analysts anticipate that Broadcom Inc. will post 3.77 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 19th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.24%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date is Thursday, September 19th. Broadcom’s dividend payout ratio (DPR) is 9.12%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AVGO. Benchmark reiterated a “buy” rating and issued a $210.00 target price on shares of Broadcom in a report on Friday, September 6th. Barclays upped their target price on Broadcom from $150.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, June 13th. Bank of America restated a “buy” rating and issued a $215.00 price target (up previously from $200.00) on shares of Broadcom in a research note on Monday, June 24th. Truist Financial lifted their target price on shares of Broadcom from $156.60 to $204.50 and gave the company a “buy” rating in a research report on Thursday, June 13th. Finally, Morgan Stanley lifted their price target on Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $189.23.

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.