Paradigm Asset Management Co. LLC Has $3.88 Million Holdings in Broadcom Inc. (NASDAQ:AVGO)

Paradigm Asset Management Co. LLC grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 900.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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 portfolio, making the stock its 6th biggest holding. 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 also recently made changes to their positions in the company. Delta Asset Management LLC TN lifted its position in shares of Broadcom by 242.9% in the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer's stock valued at $32,000 after buying an additional 17 shares during the last quarter. Clear Point Advisors Inc. raised its stake in Broadcom by 310.0% in the 1st quarter. Clear Point Advisors Inc. now owns 41 shares of the semiconductor manufacturer's stock valued at $54,000 after acquiring an additional 31 shares during the period. Indiana Trust & Investment Management CO lifted its holdings in Broadcom by 39.5% during the 2nd quarter. Indiana Trust & Investment Management CO now owns 53 shares of the semiconductor manufacturer's stock valued at $85,000 after purchasing an additional 15 shares during the last quarter. Creekmur Asset Management LLC boosted its position in Broadcom by 89.7% during the first quarter. Creekmur Asset Management LLC now owns 74 shares of the semiconductor manufacturer's stock worth $98,000 after purchasing an additional 35 shares during the period. Finally, Kiely Wealth Advisory Group Inc. acquired a new position in shares of Broadcom in the second quarter valued at $128,000. Institutional investors own 76.43% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AVGO. TD Cowen upgraded shares of Broadcom to a "strong-buy" rating in a research note on Monday, September 16th. Benchmark restated a "buy" rating and set a $210.00 price objective on shares of Broadcom in a research report on Friday, September 6th. JPMorgan Chase & Co. boosted their price objective on Broadcom from $200.00 to $210.00 and gave the stock an "overweight" rating in a report on Friday, September 6th. Cantor Fitzgerald increased their target price on Broadcom from $200.00 to $225.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 8th. Finally, StockNews.com downgraded Broadcom from a "buy" rating to a "hold" rating in a research note on Tuesday, July 23rd. 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 company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $192.79.

Insider Activity

In other news, 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 value of $130,897.50. Following the completion of the transaction, the director now directly owns 34,750 shares of the company's stock, valued at approximately $6,064,917.50. This trade represents a 2.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Charlie B. Kawwas sold 25,200 shares of the company's stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $168.27, for a total value of $4,240,404.00. Following the sale, the insider now owns 753,280 shares in the company, valued at approximately $126,754,425.60. The trade was a 3.24 % 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 valued at $53,540,590. Company insiders own 2.00% of the company's stock.

Broadcom Trading Down 3.3 %

Shares of AVGO stock traded down $5.54 during mid-day trading on Friday, reaching $164.84. 20,836,160 shares of the stock traded hands, compared to its average volume of 29,525,910. The stock's fifty day simple moving average is $172.84 and its two-hundred day simple moving average is $159.35. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. Broadcom Inc. has a 1-year low of $90.31 and a 1-year high of $186.42. The company has a market cap of $769.90 billion, a price-to-earnings ratio of 143.34, a price-to-earnings-growth ratio of 2.04 and a beta of 1.17.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.04. The firm had revenue of $13.07 billion during the quarter, compared to analysts' expectations of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company's revenue was up 47.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.95 EPS. On average, 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. Shareholders of record on Thursday, September 19th were given 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 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.