BNP Paribas Has $80.63 Million Holdings in Broadcom Inc. $AVGO

BNP Paribas lowered its position in Broadcom Inc. (NASDAQ:AVGO) by 14.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 293,440 shares of the semiconductor manufacturer’s stock after selling 49,587 shares during the quarter. Broadcom comprises approximately 2.6% of BNP Paribas’ investment portfolio, making the stock its 8th biggest holding. BNP Paribas’ holdings in Broadcom were worth $80,626,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Norges Bank acquired a new position in Broadcom during the 2nd quarter worth $18,579,549,000. Price T Rowe Associates Inc. MD raised its stake in shares of Broadcom by 37.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer’s stock valued at $10,968,270,000 after purchasing an additional 17,985,046 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Broadcom by 1.3% in the second quarter. Vanguard Group Inc. now owns 483,442,939 shares of the semiconductor manufacturer’s stock worth $133,261,046,000 after purchasing an additional 6,222,802 shares during the period. Edgewood Management LLC bought a new position in Broadcom in the 2nd quarter valued at about $1,571,438,000. Finally, Alliancebernstein L.P. increased its stake in Broadcom by 16.0% during the 1st quarter. Alliancebernstein L.P. now owns 29,513,814 shares of the semiconductor manufacturer’s stock valued at $4,941,498,000 after buying an additional 4,077,910 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Mark David Brazeal sold 16,558 shares of the business’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $347.61, for a total transaction of $5,755,726.38. Following the sale, the insider owned 329,302 shares in the company, valued at $114,468,668.22. The trade was a 4.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kirsten M. Spears sold 7,498 shares of the firm’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $347.66, for a total transaction of $2,606,754.68. Following the completion of the transaction, the chief financial officer directly owned 313,330 shares of the company’s stock, valued at $108,932,307.80. This represents a 2.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 837,433 shares of company stock valued at $303,900,352 over the last 90 days. 2.00% of the stock is owned by corporate insiders.

Broadcom Trading Up 1.6%

Shares of AVGO opened at $412.97 on Thursday. The business’s 50-day moving average price is $361.37 and its 200 day moving average price is $315.84. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $1.95 trillion, a P/E ratio of 105.35, a P/E/G ratio of 1.38 and a beta of 1.19. Broadcom Inc. has a 1-year low of $138.10 and a 1-year high of $414.61.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. UBS Group reiterated a “buy” rating and issued a $472.00 price objective (up from $415.00) on shares of Broadcom in a report on Monday, December 1st. Macquarie began coverage on Broadcom in a research report on Monday, September 15th. They set an “outperform” rating and a $420.00 price target on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $443.00 target price (up previously from $409.00) on shares of Broadcom in a research note on Monday, December 1st. Deutsche Bank Aktiengesellschaft set a $400.00 target price on Broadcom and gave the stock a “buy” rating in a report on Tuesday, October 14th. Finally, Bank of America upped their price target on shares of Broadcom from $400.00 to $460.00 and gave the company a “buy” rating in a report on Monday, December 1st. Three analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $392.46.

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.