Paradigm Asset Management Co. LLC Buys 20,250 Shares of Broadcom Inc. (NASDAQ:AVGO)

Paradigm Asset Management Co. LLC lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 900.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 22,500 shares of the semiconductor manufacturer’s stock after purchasing an additional 20,250 shares during the quarter. Broadcom comprises about 1.0% of Paradigm Asset Management Co. LLC’s investment portfolio, making the stock its 6th largest position. Paradigm Asset Management Co. LLC’s holdings in Broadcom were worth $3,881,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Delta Asset Management LLC TN grew its stake in shares of Broadcom by 242.9% during the 1st quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock worth $32,000 after purchasing an additional 17 shares during the period. Clear Point Advisors Inc. grew its stake in shares of Broadcom by 310.0% during the 1st quarter. Clear Point Advisors Inc. now owns 41 shares of the semiconductor manufacturer’s stock worth $54,000 after purchasing an additional 31 shares during the period. Indiana Trust & Investment Management CO grew its stake in Broadcom by 39.5% in the 2nd quarter. Indiana Trust & Investment Management CO now owns 53 shares of the semiconductor manufacturer’s stock valued at $85,000 after acquiring an additional 15 shares during the last quarter. Creekmur Asset Management LLC increased its holdings in Broadcom by 89.7% during the 1st quarter. Creekmur Asset Management LLC now owns 74 shares of the semiconductor manufacturer’s stock valued at $98,000 after acquiring an additional 35 shares in the last quarter. Finally, Kiely Wealth Advisory Group Inc. purchased a new position in Broadcom during the 2nd quarter valued at about $128,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Broadcom news, insider Charlie B. Kawwas sold 25,200 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the completion of the sale, the insider now owns 753,280 shares in the company, valued at $126,754,425.60. The trade was a 3.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mark David Brazeal sold 20,280 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the sale, the insider now owns 399,460 shares of the company’s stock, valued at approximately $70,744,366. The trade was a 4.83 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 311,080 shares of company stock worth $53,540,590. Insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Cantor Fitzgerald raised their target price on shares of Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Rosenblatt Securities dropped their target price on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a report on Friday, September 6th. TD Cowen upgraded shares of Broadcom to a “strong-buy” rating in a report on Monday, September 16th. Truist Financial raised their target price on shares of Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Finally, William Blair assumed coverage on shares of Broadcom in a report on Wednesday, September 18th. They set an “outperform” rating for the company. Two research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and a consensus target price of $192.79.

Broadcom Stock Down 3.3 %

Shares of NASDAQ:AVGO opened at $164.84 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The company has a fifty day simple moving average of $172.29 and a 200 day simple moving average of $159.14. The firm has a market cap of $769.90 billion, a PE ratio of 143.34, a price-to-earnings-growth ratio of 2.04 and a beta of 1.17. Broadcom Inc. has a 12-month low of $90.31 and a 12-month high of $186.42.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. The business had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business’s revenue was up 47.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.95 earnings per share. On average, equities research analysts anticipate that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date was Thursday, September 19th. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is 184.35%.

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.