Paragon Advisors LLC Buys 200 Shares of Broadcom Inc. (NASDAQ:AVGO)

Paragon Advisors LLC raised its stake in Broadcom Inc. (NASDAQ:AVGO) by 1.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 18,959 shares of the semiconductor manufacturer’s stock after buying an additional 200 shares during the quarter. Broadcom comprises approximately 1.2% of Paragon Advisors LLC’s investment portfolio, making the stock its 27th biggest holding. Paragon Advisors LLC’s holdings in Broadcom were worth $3,174,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Canton Hathaway LLC bought a new stake in shares of Broadcom in the fourth quarter worth $26,000. Rialto Wealth Management LLC bought a new stake in shares of Broadcom in the fourth quarter worth $26,000. Sunbeam Capital Management LLC bought a new stake in shares of Broadcom in the fourth quarter worth $28,000. Vermillion Wealth Management Inc. bought a new stake in shares of Broadcom in the fourth quarter worth $30,000. Finally, Sellwood Investment Partners LLC bought a new stake in shares of Broadcom in the fourth quarter worth $32,000. Institutional investors own 76.43% of the company’s stock.

Analysts Set New Price Targets

AVGO has been the topic of a number of research reports. Wells Fargo & Company boosted their price objective on shares of Broadcom from $230.00 to $255.00 and gave the stock an “equal weight” rating in a research report on Friday. Evercore ISI boosted their price objective on shares of Broadcom from $267.00 to $304.00 and gave the stock an “outperform” rating in a research report on Friday. KeyCorp upped their price target on shares of Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Mizuho upped their price target on shares of Broadcom from $300.00 to $310.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Erste Group Bank raised shares of Broadcom from a “hold” rating to a “buy” rating in a research report on Thursday, June 5th. Two research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Broadcom presently has a consensus rating of “Moderate Buy” and an average price target of $272.71.

Broadcom Price Performance

Shares of AVGO opened at $244.28 on Tuesday. The firm has a market capitalization of $1.15 trillion, a PE ratio of 199.25, a PEG ratio of 2.29 and a beta of 1.11. The company’s 50-day moving average is $205.17 and its 200-day moving average is $207.37. Broadcom Inc. has a fifty-two week low of $128.50 and a fifty-two week high of $265.43. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, beating the consensus estimate of $1.57 by $0.01. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The business had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.98 billion. During the same period in the prior year, the company posted $10.96 earnings per share. Broadcom’s revenue was up 20.2% compared to the same quarter last year. Equities analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 20th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Friday, June 20th. This represents a $2.36 annualized dividend and a dividend yield of 0.97%. Broadcom’s dividend payout ratio (DPR) is presently 88.39%.

Broadcom announced that its Board of Directors has initiated a share repurchase program on Monday, April 7th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor manufacturer to purchase up to 1.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at Broadcom

In related news, insider Mark David Brazeal sold 30,000 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $194.65, for a total value of $5,839,500.00. Following the transaction, the insider now directly owns 490,956 shares in the company, valued at approximately $95,564,585.40. This represents a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Justine Page sold 800 shares of the company’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $230.19, for a total transaction of $184,152.00. Following the completion of the transaction, the director now owns 26,182 shares in the company, valued at $6,026,834.58. This trade represents a 2.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 720,576 shares of company stock worth $131,249,694. 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.