Paradigm Financial Partners LLC Acquires Shares of 231 Broadcom Inc. (NASDAQ:AVGO)

Paradigm Financial Partners LLC bought a new stake in Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 231 shares of the semiconductor manufacturer’s stock, valued at approximately $258,000.

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

Insider Transactions at Broadcom

In other Broadcom news, Director Justine Page sold 110 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the transaction, the director now owns 3,125 shares of the company’s stock, valued at approximately $4,134,375. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Charlie B. Kawwas sold 5,000 shares of the business’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the sale, the insider now owns 16,575 shares of the company’s stock, valued at approximately $22,276,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Justine Page sold 110 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total value of $145,530.00. Following the transaction, the director now directly owns 3,125 shares of the company’s stock, valued at approximately $4,134,375. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,920 shares of company stock valued at $40,306,667. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Stock Performance

AVGO stock opened at $1,344.07 on Monday. The stock’s fifty day moving average is $1,306.70 and its two-hundred day moving average is $1,137.84. The stock has a market capitalization of $622.87 billion, a price-to-earnings ratio of 49.82, a PEG ratio of 2.74 and a beta of 1.25. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. Broadcom Inc. has a 1 year low of $601.29 and a 1 year high of $1,438.17.

Broadcom (NASDAQ:AVGO) last posted its earnings results 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 analyst estimates of $11.79 billion. During the same period in the previous year, the business posted $9.83 EPS. Broadcom’s revenue was up 34.2% on a year-over-year basis. On average, research analysts predict that Broadcom Inc. will post 35.96 EPS for the current year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were given 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%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on AVGO shares. The Goldman Sachs Group reiterated a “buy” rating and issued a $1,325.00 target price on shares of Broadcom in a report on Friday, January 19th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $1,700.00 price target on shares of Broadcom in a report on Thursday, March 21st. Evercore ISI initiated coverage on Broadcom in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $1,620.00 price target on the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $1,500.00 target price on shares of Broadcom in a research note on Monday, April 8th. Finally, Oppenheimer reiterated an “outperform” rating and set a $1,500.00 price objective (up from $1,100.00) on shares of Broadcom in a research note on Friday, March 1st. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $1,285.41.

About Broadcom

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.