Paragon Capital Management Ltd grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 614.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,637 shares of the semiconductor manufacturer's stock after buying an additional 4,848 shares during the quarter. Paragon Capital Management Ltd's holdings in Broadcom were worth $972,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of AVGO. Handelsbanken Fonder AB grew its position in shares of Broadcom by 826.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 2,963,813 shares of the semiconductor manufacturer's stock worth $511,258,000 after buying an additional 2,643,845 shares in the last quarter. Swedbank AB purchased a new stake in shares of Broadcom in the 1st quarter worth approximately $2,835,737,000. Vanguard Group Inc. lifted its position in shares of Broadcom by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 44,651,273 shares of the semiconductor manufacturer's stock worth $59,181,244,000 after purchasing an additional 1,303,462 shares during the period. Jennison Associates LLC lifted its position in shares of Broadcom by 43.9% in the 1st quarter. Jennison Associates LLC now owns 4,141,025 shares of the semiconductor manufacturer's stock worth $5,488,556,000 after purchasing an additional 1,263,957 shares during the period. Finally, GQG Partners LLC lifted its position in shares of Broadcom by 48.9% in the 1st quarter. GQG Partners LLC now owns 2,992,833 shares of the semiconductor manufacturer's stock worth $3,966,730,000 after purchasing an additional 983,328 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Broadcom
In other Broadcom news, insider Mark David Brazeal sold 18,900 shares of Broadcom stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the transaction, the insider now directly owns 380,560 shares of the company's stock, valued at $69,596,812.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Broadcom news, insider Mark David Brazeal sold 18,900 shares of Broadcom stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the transaction, the insider now directly owns 380,560 shares of the company's stock, valued at $69,596,812.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gayla J. Delly sold 750 shares of Broadcom stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total transaction of $130,897.50. Following the transaction, the director now directly owns 34,750 shares in the company, valued at $6,064,917.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 295,130 shares of company stock valued at $50,646,622. Corporate insiders own 2.00% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on the stock. Oppenheimer lowered their price target on shares of Broadcom from $2,000.00 to $200.00 and set an "outperform" rating for the company in a research report on Tuesday, July 16th. JPMorgan Chase & Co. upped their price target on shares of Broadcom from $200.00 to $210.00 and gave the stock an "overweight" rating in a research report on Friday, September 6th. Morgan Stanley upped their price target on shares of Broadcom from $176.00 to $180.00 and gave the stock an "overweight" rating in a research report on Friday, September 6th. The Goldman Sachs Group increased their target price on shares of Broadcom from $185.00 to $190.00 and gave the company a "buy" rating in a research report on Friday, September 6th. Finally, Rosenblatt Securities decreased their target price on shares of Broadcom from $2,400.00 to $240.00 and set a "buy" rating for the company in a research report on Friday, September 6th. Two investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Broadcom currently has a consensus rating of "Moderate Buy" and a consensus price target of $190.29.
Read Our Latest Research Report on Broadcom
Broadcom Stock Performance
AVGO stock traded down $4.21 during midday trading on Friday, hitting $181.48. 23,070,023 shares of the stock traded hands, compared to its average volume of 30,920,781. The firm has a market cap of $847.62 billion, a P/E ratio of 157.67, a PEG ratio of 2.99 and a beta of 1.17. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The stock's fifty day simple moving average is $162.91 and its 200-day simple moving average is $151.64. Broadcom Inc. has a 1-year low of $81.83 and a 1-year high of $186.42.
Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating the consensus estimate of $1.20 by $0.04. The company had revenue of $13.07 billion for 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 firm's revenue was up 47.3% on a year-over-year basis. During the same quarter last year, the business earned $0.95 earnings per share. On average, analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current year.
Broadcom Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were paid a $0.53 dividend. This is an increase from Broadcom's previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom's dividend payout ratio (DPR) is currently 184.19%.
About Broadcom
(
Free Report)
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.
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