Paragon Private Wealth Management LLC Has $609,000 Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Paragon Private Wealth Management LLC lifted its stake in Broadcom Inc. (NASDAQ:AVGOFree Report) by 33.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 546 shares of the semiconductor manufacturer’s stock after acquiring an additional 138 shares during the quarter. Paragon Private Wealth Management LLC’s holdings in Broadcom were worth $609,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Gladstone Institutional Advisory LLC increased its position in shares of Broadcom by 7.0% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 7,363 shares of the semiconductor manufacturer’s stock valued at $8,219,000 after acquiring an additional 481 shares during the last quarter. Cravens & Co Advisors LLC grew its holdings in Broadcom by 1.2% during the fourth quarter. Cravens & Co Advisors LLC now owns 1,739 shares of the semiconductor manufacturer’s stock worth $1,941,000 after purchasing an additional 21 shares during the period. Brady Family Wealth LLC grew its holdings in Broadcom by 121.2% during the fourth quarter. Brady Family Wealth LLC now owns 3,422 shares of the semiconductor manufacturer’s stock worth $3,819,000 after purchasing an additional 1,875 shares during the period. Silver Lake Group L.L.C. bought a new position in Broadcom during the fourth quarter worth about $141,267,000. Finally, Norges Bank bought a new position in Broadcom during the fourth quarter worth about $6,225,987,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Oppenheimer reiterated an “outperform” rating and set a $1,500.00 price target (up previously from $1,100.00) on shares of Broadcom in a report on Friday, March 1st. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $1,500.00 price target on shares of Broadcom in a report on Monday, April 8th. Benchmark reiterated a “buy” rating and set a $1,720.00 price target on shares of Broadcom in a report on Thursday, March 21st. Mizuho lifted their price target on Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. Finally, UBS Group boosted their price objective on Broadcom to $1,480.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Three analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and an average target price of $1,296.91.

Get Our Latest Stock Report on AVGO

Insider Transactions at Broadcom

In related news, Director Eddy W. Hartenstein sold 3,150 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the completion of the sale, the director now directly owns 4,643 shares in the company, valued at $5,991,048.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Charlie B. Kawwas sold 5,000 shares of the 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 completion of the sale, the insider now directly owns 16,575 shares in the company, valued at $22,276,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eddy W. Hartenstein sold 3,150 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the completion of the sale, the director now owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,920 shares of company stock worth $40,306,667. Corporate insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Shares of NASDAQ:AVGO traded down $16.84 during trading on Friday, hitting $1,395.29. 1,817,367 shares of the company were exchanged, compared to its average volume of 2,287,940. The business’s 50 day moving average is $1,311.32 and its 200-day moving average is $1,186.84. The company has a market capitalization of $646.61 billion, a P/E ratio of 51.72, a price-to-earnings-growth ratio of 2.83 and a beta of 1.25. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. Broadcom Inc. has a 1-year low of $656.00 and a 1-year high of $1,445.40.

Broadcom (NASDAQ:AVGOGet Free Report) last announced its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.95 by $2.04. The company had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The company’s revenue for the quarter was up 34.2% compared to the same quarter last year. During the same period in the prior year, the business earned $9.83 earnings per share. Equities analysts forecast that Broadcom Inc. will post 36.06 earnings per share for the current year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were issued a dividend of $5.25 per share. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 annualized dividend and a dividend yield of 1.51%. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Broadcom Profile

(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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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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