BNP PARIBAS ASSET MANAGEMENT Holding S.A. Has $323.05 Million Holdings in Broadcom Inc. (NASDAQ:AVGO)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 2,241.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,872,745 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,792,753 shares during the period. Broadcom comprises about 0.8% of BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s portfolio, making the stock its 18th largest position. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Broadcom were worth $323,049,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in AVGO. Jennison Associates LLC raised its holdings in shares of Broadcom by 842.4% in the third quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer’s stock valued at $6,209,758,000 after purchasing an additional 32,178,542 shares during the last quarter. Swedbank AB grew its position in Broadcom by 858.7% in the third quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock valued at $3,168,798,000 after purchasing an additional 16,453,718 shares in the last quarter. Swiss National Bank increased its stake in Broadcom by 907.0% in the 3rd quarter. Swiss National Bank now owns 13,125,930 shares of the semiconductor manufacturer’s stock valued at $2,264,223,000 after buying an additional 11,822,467 shares during the last quarter. Van ECK Associates Corp lifted its position in Broadcom by 917.8% during the 3rd quarter. Van ECK Associates Corp now owns 12,701,500 shares of the semiconductor manufacturer’s stock worth $2,203,837,000 after buying an additional 11,453,554 shares in the last quarter. Finally, Raymond James & Associates grew its holdings in shares of Broadcom by 855.4% in the 3rd quarter. Raymond James & Associates now owns 12,674,158 shares of the semiconductor manufacturer’s stock valued at $2,186,292,000 after acquiring an additional 11,347,563 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. The Goldman Sachs Group increased their price target on Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Benchmark reissued a “buy” rating and issued a $210.00 target price on shares of Broadcom in a research note on Friday, September 6th. Mizuho upped their price target on shares of Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. 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 research note on Friday, September 6th. Finally, William Blair started coverage on shares of Broadcom in a research note on Wednesday, September 18th. They issued an “outperform” rating for the company. Two 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 company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.79.

Broadcom Stock Up 0.2 %

NASDAQ AVGO opened at $164.23 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The company has a market cap of $767.05 billion, a price-to-earnings ratio of 142.81, a PEG ratio of 1.93 and a beta of 1.17. The company has a 50 day moving average of $173.70 and a 200-day moving average of $160.62. Broadcom Inc. has a 1-year low of $90.31 and a 1-year high of $186.42.

Broadcom (NASDAQ:AVGO) last released its 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. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. During the same period in the prior year, the company posted $0.95 EPS. The company’s revenue was up 47.3% compared to the same quarter last year. On average, equities research analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current fiscal 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 issued 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 1.29%. The ex-dividend date was Thursday, September 19th. Broadcom’s dividend payout ratio (DPR) is currently 184.35%.

Insider Activity

In other news, insider Charlie B. Kawwas sold 25,200 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the completion of the transaction, the insider now owns 753,280 shares of the company’s stock, valued at approximately $126,754,425.60. The trade was a 3.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 1,331,910 shares in the company, valued at $217,594,136.70. This trade represents 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 sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is currently owned by corporate 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.