Broadcom Limited (AVGO) is Paradigm Capital Management Inc. NY’s 2nd Largest Position
Paradigm Capital Management Inc. NY trimmed its holdings in Broadcom Limited (NASDAQ:AVGO) by 0.6% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 164,700 shares of the semiconductor manufacturer’s stock after selling 1,000 shares during the quarter. Broadcom Limited accounts for about 3.5% of Paradigm Capital Management Inc. NY’s holdings, making the stock its 2nd biggest holding. Paradigm Capital Management Inc. NY’s holdings in Broadcom Limited were worth $38,383,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. FNY Managed Accounts LLC bought a new stake in shares of Broadcom Limited in the 1st quarter worth approximately $100,000. AllSquare Wealth Management LLC lifted its holdings in shares of Broadcom Limited by 38.0% in the 1st quarter. AllSquare Wealth Management LLC now owns 483 shares of the semiconductor manufacturer’s stock worth $106,000 after acquiring an additional 133 shares during the last quarter. Shine Investment Advisory Services Inc. bought a new stake in shares of Broadcom Limited in the 2nd quarter worth approximately $116,000. Archford Capital Strategies LLC lifted its holdings in shares of Broadcom Limited by 45.4% in the 1st quarter. Archford Capital Strategies LLC now owns 538 shares of the semiconductor manufacturer’s stock worth $118,000 after acquiring an additional 168 shares during the last quarter. Finally, D. Scott Neal Inc. bought a new stake in shares of Broadcom Limited in the 2nd quarter worth approximately $127,000. Hedge funds and other institutional investors own 90.04% of the company’s stock.
A number of brokerages have recently weighed in on AVGO. B. Riley restated a “buy” rating and issued a $305.00 price objective on shares of Broadcom Limited in a report on Tuesday, May 30th. UBS AG restated a “buy” rating and issued a $265.00 price objective (up from $245.00) on shares of Broadcom Limited in a report on Monday, June 5th. Cowen and Company restated a “buy” rating and issued a $260.00 price objective on shares of Broadcom Limited in a report on Friday, August 11th. Pacific Crest restated an “overweight” rating and issued a $280.00 price objective on shares of Broadcom Limited in a report on Wednesday, June 21st. Finally, Robert W. Baird restated an “outperform” rating and issued a $290.00 price objective (up from $260.00) on shares of Broadcom Limited in a report on Friday, August 25th. Two analysts have rated the stock with a hold rating, thirty-two have given a buy rating and two have issued a strong buy rating to the company. Broadcom Limited currently has an average rating of “Buy” and a consensus target price of $271.98.
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In other news, SVP Bryan Ingram sold 10,000 shares of the business’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $244.59, for a total transaction of $2,445,900.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.60% of the stock is currently owned by insiders.
Broadcom Limited (NASDAQ:AVGO) traded up 1.25% during trading on Monday, reaching $247.16. 544,749 shares of the company’s stock traded hands. The company has a 50 day moving average of $249.79 and a 200 day moving average of $235.10. The firm has a market cap of $100.59 billion, a price-to-earnings ratio of 188.24 and a beta of 1.07. Broadcom Limited has a one year low of $158.75 and a one year high of $259.36.
Broadcom Limited (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.03 by $0.07. Broadcom Limited had a return on equity of 26.82% and a net margin of 3.12%. The business had revenue of $4.47 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same quarter in the previous year, the firm earned $2.89 earnings per share. The company’s revenue was up 17.5% on a year-over-year basis. Equities research analysts predict that Broadcom Limited will post $15.92 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Tuesday, September 19th will be paid a dividend of $1.02 per share. The ex-dividend date of this dividend is Monday, September 18th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.67%. Broadcom Limited’s payout ratio is 348.72%.
Broadcom Limited Profile
Broadcom Limited is a designer, developer and global supplier of a range of semiconductor devices with a focus on digital and mixed signal complementary metal oxide semiconductor (CMOS)-based devices and analog III-V based products. The Company operates through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.
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