Paradigm Financial Partners LLC Purchases New Position in Broadcom Inc. (NASDAQ:AVGO)

Paradigm Financial Partners LLC acquired a new position in shares of Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, HoldingsChannel reports. The firm acquired 231 shares of the semiconductor manufacturer’s stock, valued at approximately $258,000.

A number of other institutional investors also recently modified their holdings of AVGO. PDS Planning Inc grew its holdings in shares of Broadcom by 2.5% during the third quarter. PDS Planning Inc now owns 1,618 shares of the semiconductor manufacturer’s stock worth $1,344,000 after purchasing an additional 40 shares during the last quarter. Cavalier Investments LLC grew its stake in shares of Broadcom by 3.7% during the third quarter. Cavalier Investments LLC now owns 1,969 shares of the semiconductor manufacturer’s stock valued at $1,635,000 after purchasing an additional 70 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Broadcom by 9.5% in the third quarter. Commonwealth Equity Services LLC now owns 99,621 shares of the semiconductor manufacturer’s stock valued at $82,743,000 after purchasing an additional 8,644 shares in the last quarter. FAS Wealth Partners Inc. lifted its holdings in Broadcom by 2.4% during the 3rd quarter. FAS Wealth Partners Inc. now owns 3,960 shares of the semiconductor manufacturer’s stock worth $3,289,000 after buying an additional 93 shares in the last quarter. Finally, Compagnie Lombard Odier SCmA increased its stake in shares of Broadcom by 8.7% in the 3rd quarter. Compagnie Lombard Odier SCmA now owns 45,098 shares of the semiconductor manufacturer’s stock valued at $37,457,000 after buying an additional 3,618 shares during the period. Institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $1,700.00 target price on shares of Broadcom in a research note on Thursday, March 21st. Rosenblatt Securities reiterated a “buy” rating and issued a $1,500.00 target price on shares of Broadcom in a report on Thursday, March 21st. Evercore ISI assumed coverage on Broadcom in a research note on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 target price for the company. TD Cowen raised Broadcom from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $1,400.00 to $1,500.00 in a research note on Thursday, March 21st. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $1,325.00 price target on shares of Broadcom in a research report on Friday, January 19th. Three analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and a consensus target price of $1,285.41.

Broadcom Stock Up 3.8 %

AVGO opened at $1,344.07 on Monday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. The stock has a fifty day moving average of $1,306.70 and a 200-day moving average of $1,137.84. Broadcom Inc. has a fifty-two week low of $601.29 and a fifty-two week high of $1,438.17. The company has a market capitalization of $622.87 billion, a P/E ratio of 49.82, a P/E/G ratio of 2.74 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The firm had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. During the same quarter in the previous year, the firm posted $9.83 EPS. The business’s revenue for the quarter was up 34.2% compared to the same quarter last year. On average, equities analysts expect that Broadcom Inc. will post 35.96 EPS for the current year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid a dividend of $5.25 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a yield of 1.56%. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Insider Buying and Selling at Broadcom

In related news, CEO Hock E. Tan sold 2,000 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the completion of the sale, the chief executive officer now owns 168,096 shares of the company’s stock, valued at $220,583,976. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Kirsten M. Spears sold 3,000 shares of the firm’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $1,343.14, for a total value of $4,029,420.00. Following the sale, the chief financial officer now directly owns 43,459 shares of the company’s stock, valued at $58,371,521.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Hock E. Tan sold 2,000 shares of Broadcom stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total value of $2,624,500.00. Following the completion of the transaction, the chief executive officer now owns 168,096 shares in the company, valued at approximately $220,583,976. The disclosure for this sale can be found here. Insiders sold 29,920 shares of company stock valued at $40,306,667 in the last three months. Corporate insiders own 2.00% of the company’s stock.

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.