Assenagon Asset Management S.A. Purchases 200 Shares of Broadcom Inc (NASDAQ:AVGO)

Assenagon Asset Management S.A. increased its position in shares of Broadcom Inc (NASDAQ:AVGO) by 5.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 3,800 shares of the semiconductor manufacturer’s stock after acquiring an additional 200 shares during the period. Assenagon Asset Management S.A.’s holdings in Broadcom were worth $1,049,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. CRA Financial Services LLC increased its stake in Broadcom by 2.0% during the 2nd quarter. CRA Financial Services LLC now owns 1,696 shares of the semiconductor manufacturer’s stock valued at $488,000 after purchasing an additional 33 shares in the last quarter. Liberty Wealth Management LLC increased its stake in Broadcom by 62.5% during the 2nd quarter. Liberty Wealth Management LLC now owns 91 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 35 shares in the last quarter. Tarbox Family Office Inc. increased its stake in Broadcom by 20.2% during the 2nd quarter. Tarbox Family Office Inc. now owns 214 shares of the semiconductor manufacturer’s stock valued at $62,000 after purchasing an additional 36 shares in the last quarter. Enterprise Financial Services Corp increased its stake in Broadcom by 14.7% during the 2nd quarter. Enterprise Financial Services Corp now owns 289 shares of the semiconductor manufacturer’s stock valued at $83,000 after purchasing an additional 37 shares in the last quarter. Finally, Cresset Asset Management LLC increased its stake in Broadcom by 2.0% during the 2nd quarter. Cresset Asset Management LLC now owns 1,922 shares of the semiconductor manufacturer’s stock valued at $558,000 after purchasing an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 84.93% of the company’s stock.

In related news, CEO Hock E. Tan sold 20,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $270.46, for a total transaction of $5,409,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 2,000 shares of the firm’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $289.43, for a total transaction of $578,860.00. Insiders sold 62,000 shares of company stock valued at $17,550,860 over the last quarter. Company insiders own 3.30% of the company’s stock.

AVGO has been the topic of a number of recent analyst reports. Cowen set a $285.00 price target on shares of Broadcom and gave the company a “hold” rating in a research note on Thursday, October 10th. Morgan Stanley upped their price objective on shares of Broadcom from $250.00 to $265.00 and gave the company an “equal weight” rating in a report on Friday, September 13th. KeyCorp upped their price objective on shares of Broadcom from $330.00 to $340.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Royal Bank of Canada assumed coverage on shares of Broadcom in a report on Tuesday, July 23rd. They issued an “outperform” rating and a $320.00 price objective on the stock. Finally, Loop Capital downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a report on Friday, September 13th. One analyst has rated the stock with a sell rating, nine have given a hold rating and twenty-nine have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $312.06.

Shares of NASDAQ AVGO opened at $286.73 on Monday. The firm has a 50-day simple moving average of $283.13 and a 200-day simple moving average of $286.70. The stock has a market capitalization of $114.81 billion, a price-to-earnings ratio of 15.23, a price-to-earnings-growth ratio of 1.44 and a beta of 0.89. The company has a quick ratio of 1.18, a current ratio of 1.32 and a debt-to-equity ratio of 1.58. Broadcom Inc has a 52 week low of $208.23 and a 52 week high of $323.20.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, September 12th. The semiconductor manufacturer reported $3.99 EPS for the quarter, missing the Zacks’ consensus estimate of $4.10 by ($0.11). The business had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.52 billion. Broadcom had a net margin of 13.44% and a return on equity of 34.10%. Broadcom’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the company earned $4.98 earnings per share. As a group, equities research analysts expect that Broadcom Inc will post 16.97 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 23rd were given a $2.65 dividend. This represents a $10.60 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date of this dividend was Friday, September 20th. Broadcom’s dividend payout ratio (DPR) is 56.29%.

Broadcom Profile

Broadcom Inc designs, develops, and supplies a range of 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 through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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