Lombard Odier Asset Management Switzerland SA Purchases 11,034 Shares of Broadcom Inc. $AVGO

Lombard Odier Asset Management Switzerland SA raised its holdings in Broadcom Inc. (NASDAQ:AVGO) by 6.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 190,585 shares of the semiconductor manufacturer’s stock after buying an additional 11,034 shares during the period. Broadcom comprises about 2.7% of Lombard Odier Asset Management Switzerland SA’s holdings, making the stock its 6th largest position. Lombard Odier Asset Management Switzerland SA’s holdings in Broadcom were worth $52,535,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of AVGO. Sawyer & Company Inc raised its stake in shares of Broadcom by 62.1% during the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 36 shares during the period. PFS Partners LLC raised its position in Broadcom by 38.4% in the second quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer’s stock worth $38,000 after acquiring an additional 38 shares during the period. Costello Asset Management INC grew its position in shares of Broadcom by 1.5% during the 2nd quarter. Costello Asset Management INC now owns 2,528 shares of the semiconductor manufacturer’s stock valued at $697,000 after acquiring an additional 38 shares during the period. Walkner Condon Financial Advisors LLC raised its holdings in shares of Broadcom by 1.0% in the 2nd quarter. Walkner Condon Financial Advisors LLC now owns 3,944 shares of the semiconductor manufacturer’s stock worth $1,087,000 after purchasing an additional 38 shares during the period. Finally, Carson Advisory Inc. grew its holdings in Broadcom by 2.0% during the second quarter. Carson Advisory Inc. now owns 2,023 shares of the semiconductor manufacturer’s stock valued at $558,000 after purchasing an additional 39 shares during the period. Institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling

In related news, insider Mark David Brazeal sold 16,558 shares of the company’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $347.61, for a total value of $5,755,726.38. Following the completion of the transaction, the insider directly owned 329,302 shares in the company, valued at approximately $114,468,668.22. The trade was a 4.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Hock E. Tan sold 148,154 shares of the firm’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $336.67, for a total value of $49,879,007.18. Following the sale, the chief executive officer owned 825,998 shares in the company, valued at $278,088,746.66. The trade was a 15.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 665,271 shares of company stock valued at $225,483,192 in the last 90 days. 2.00% of the stock is owned by company insiders.

Broadcom Price Performance

Broadcom stock opened at $401.10 on Tuesday. The stock has a market cap of $1.89 trillion, a price-to-earnings ratio of 102.32, a PEG ratio of 1.33 and a beta of 1.19. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86. The business has a 50-day simple moving average of $358.25 and a 200 day simple moving average of $313.90. Broadcom Inc. has a 52 week low of $138.10 and a 52 week high of $407.29.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft set a $400.00 target price on shares of Broadcom and gave the stock a “buy” rating in a research report on Tuesday, October 14th. Raymond James Financial set a $420.00 price objective on shares of Broadcom and gave the company an “outperform” rating in a research note on Thursday, November 20th. Rosenblatt Securities boosted their target price on shares of Broadcom from $340.00 to $400.00 and gave the company a “buy” rating in a report on Friday, September 5th. Argus raised their price target on Broadcom from $285.00 to $375.00 and gave the stock a “buy” rating in a report on Monday, September 8th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Broadcom in a research report on Monday, December 1st. Three analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $391.04.

Broadcom Company 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.