Connor Clark & Lunn Investment Management Ltd. Has $102.87 Million Stock Position in Broadcom Inc. $AVGO

Connor Clark & Lunn Investment Management Ltd. lowered its stake in Broadcom Inc. (NASDAQ:AVGO) by 20.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 373,175 shares of the semiconductor manufacturer’s stock after selling 94,547 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Broadcom were worth $102,866,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of AVGO. Cheviot Value Management LLC acquired a new position in Broadcom during the 1st quarter worth approximately $25,000. Sawyer & Company Inc increased its holdings in shares of Broadcom by 62.1% during the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 36 shares in the last quarter. Legend Financial Advisors Inc. bought a new stake in shares of Broadcom during the second quarter valued at approximately $28,000. LGT Financial Advisors LLC acquired a new position in shares of Broadcom during the second quarter worth approximately $31,000. Finally, Greenline Partners LLC bought a new position in shares of Broadcom in the 1st quarter worth $33,000. 76.43% of the stock is owned by institutional investors.

Broadcom Trading Up 0.9%

Shares of Broadcom stock opened at $355.22 on Thursday. The stock has a market capitalization of $1.68 trillion, a P/E ratio of 90.62, a P/E/G ratio of 1.42 and a beta of 1.19. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $386.48. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50. The stock’s 50-day simple moving average is $348.26 and its 200 day simple moving average is $293.39.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.03. The company had revenue of $15.95 billion during the quarter, compared to analysts’ expectations of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The firm’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. As a group, research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, September 22nd. Broadcom’s dividend payout ratio is 60.20%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on AVGO shares. Mizuho set a $435.00 price objective on shares of Broadcom and gave the stock an “outperform” rating in a report on Tuesday, October 21st. JPMorgan Chase & Co. raised their price target on shares of Broadcom from $325.00 to $400.00 and gave the company an “overweight” rating in a research report on Friday, September 5th. Wells Fargo & Company lifted their price target on Broadcom from $255.00 to $345.00 and gave the company an “equal weight” rating in a research note on Friday, September 5th. TD Cowen increased their price objective on Broadcom from $355.00 to $370.00 and gave the stock a “buy” rating in a research note on Friday, September 5th. Finally, Weiss Ratings lowered Broadcom from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, November 7th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $372.52.

Insider Transactions at Broadcom

In other news, CEO Hock E. Tan sold 148,154 shares of the company’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $336.67, for a total transaction of $49,879,007.18. Following the completion of the transaction, the chief executive officer directly owned 825,998 shares of the company’s stock, valued at approximately $278,088,746.66. This represents a 15.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Kirsten M. Spears sold 7,498 shares of the stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $347.66, for a total value of $2,606,754.68. Following the completion of the sale, the chief financial officer owned 313,330 shares of the company’s stock, valued at approximately $108,932,307.80. This trade represents a 2.34% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have purchased 3,550 shares of company stock valued at $1,227,869 and have sold 664,471 shares valued at $225,218,280. Company insiders own 2.00% of the company’s stock.

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.