Paradiem LLC Has $8.81 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Paradiem LLC increased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 16.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,894 shares of the semiconductor manufacturer’s stock after buying an additional 1,134 shares during the period. Broadcom accounts for 2.5% of Paradiem LLC’s holdings, making the stock its largest position. Paradiem LLC’s holdings in Broadcom were worth $8,812,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Walkner Condon Financial Advisors LLC grew its stake in shares of Broadcom by 7.9% in the third quarter. Walkner Condon Financial Advisors LLC now owns 343 shares of the semiconductor manufacturer’s stock worth $285,000 after purchasing an additional 25 shares during the last quarter. U.S. Capital Wealth Advisors LLC raised its holdings in shares of Broadcom by 15.5% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 4,214 shares of the semiconductor manufacturer’s stock worth $3,500,000 after acquiring an additional 566 shares during the last quarter. Trust Co. of Toledo NA OH raised its holdings in shares of Broadcom by 77.1% in the 3rd quarter. Trust Co. of Toledo NA OH now owns 1,222 shares of the semiconductor manufacturer’s stock worth $1,015,000 after acquiring an additional 532 shares during the last quarter. Lake Street Financial LLC raised its holdings in shares of Broadcom by 3.6% in the 3rd quarter. Lake Street Financial LLC now owns 2,673 shares of the semiconductor manufacturer’s stock worth $2,224,000 after acquiring an additional 93 shares during the last quarter. Finally, Bremer Bank National Association raised its holdings in shares of Broadcom by 1.5% in the 3rd quarter. Bremer Bank National Association now owns 2,566 shares of the semiconductor manufacturer’s stock worth $2,131,000 after acquiring an additional 38 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Trading Up 3.8 %

Shares of AVGO stock traded up $49.65 during mid-day trading on Friday, reaching $1,344.07. The stock had a trading volume of 2,409,983 shares, compared to its average volume of 2,322,994. The stock’s 50-day moving average price is $1,306.70 and its two-hundred day moving average price is $1,135.99. Broadcom Inc. has a 52-week low of $601.29 and a 52-week high of $1,438.17. The firm has a market capitalization of $622.87 billion, a PE ratio of 49.82, a price-to-earnings-growth ratio of 2.74 and a beta of 1.25. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $11.79 billion. During the same quarter in the previous year, the company earned $9.83 earnings per share. The company’s revenue for the quarter was up 34.2% compared to the same quarter last year. Equities analysts expect that Broadcom Inc. will post 35.96 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were given a dividend of $5.25 per share. The ex-dividend date 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 77.84%.

Wall Street Analyst Weigh In

AVGO has been the topic of a number of analyst reports. The Goldman Sachs Group restated a “buy” rating and issued a $1,325.00 target price on shares of Broadcom in a report on Friday, January 19th. Cantor Fitzgerald lifted their target price on shares of Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a research report on Monday, March 4th. Rosenblatt Securities reissued a “buy” rating and set a $1,500.00 target price on shares of Broadcom in a research report on Thursday, March 21st. UBS Group lifted their target price on shares of Broadcom to $1,480.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. Finally, Susquehanna raised their price target on shares of Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a research note on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,285.41.

Insider Activity at Broadcom

In related news, CEO Hock E. Tan sold 2,000 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the transaction, the chief executive officer now owns 168,096 shares in the company, valued at $220,583,976. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Broadcom news, CEO Hock E. Tan sold 2,000 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total value of $2,624,500.00. Following the transaction, the chief executive officer now directly owns 168,096 shares in the company, valued at $220,583,976. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Charlie B. Kawwas sold 5,000 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the completion of the transaction, the insider now owns 16,575 shares in the company, valued at $22,276,800. The disclosure for this sale can be found here. Insiders have sold a total of 29,920 shares of company stock worth $40,306,667 over the last quarter. Company insiders own 2.00% of the company’s stock.

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.