Webster Bank N. A. bought a new stake in Broadcom Inc (NASDAQ:AVGO) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 958 shares of the semiconductor manufacturer’s stock, valued at approximately $237,000.

Several other hedge funds have also recently made changes to their positions in AVGO. Massey Quick Simon & CO. LLC purchased a new stake in shares of Broadcom in the second quarter valued at about $104,000. Zions Bancorporation purchased a new stake in shares of Broadcom in the second quarter valued at about $109,000. MUFG Americas Holdings Corp purchased a new stake in shares of Broadcom in the second quarter valued at about $109,000. MUFG Securities EMEA plc purchased a new stake in shares of Broadcom in the second quarter valued at about $117,000. Finally, First Personal Financial Services purchased a new stake in shares of Broadcom in the second quarter valued at about $126,000. Institutional investors own 88.01% of the company’s stock.

Shares of NASDAQ:AVGO opened at $232.95 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.98 and a quick ratio of 3.42. The stock has a market cap of $102.01 billion, a price-to-earnings ratio of 16.29, a price-to-earnings-growth ratio of 1.02 and a beta of 0.89. Broadcom Inc has a twelve month low of $197.46 and a twelve month high of $285.68.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, September 6th. The semiconductor manufacturer reported $4.98 earnings per share for the quarter, topping analysts’ consensus estimates of $4.82 by $0.16. The firm had revenue of $5.06 billion during the quarter, compared to analyst estimates of $5.06 billion. Broadcom had a net margin of 58.18% and a return on equity of 28.54%. The company’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter last year, the business earned $4.10 earnings per share. Analysts predict that Broadcom Inc will post 18.09 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Wednesday, September 19th were given a dividend of $1.75 per share. The ex-dividend date was Tuesday, September 18th. This represents a $7.00 dividend on an annualized basis and a yield of 3.00%. Broadcom’s dividend payout ratio is presently 48.95%.

Several analysts have recently commented on AVGO shares. BidaskClub downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a report on Wednesday, July 4th. Nomura upgraded shares of Broadcom from a “neutral” rating to a “buy” rating and increased their target price for the company from $225.00 to $300.00 in a report on Monday, September 17th. ValuEngine downgraded shares of Broadcom from a “sell” rating to a “strong sell” rating in a report on Thursday, July 12th. Goldman Sachs Group downgraded shares of Broadcom from a “buy” rating to a “neutral” rating and lowered their target price for the company from $300.00 to $220.00 in a report on Wednesday, July 18th. Finally, UBS Group lowered their target price on shares of Broadcom from $330.00 to $300.00 and set a “buy” rating for the company in a report on Friday, July 20th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirty-one have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $290.77.

In other Broadcom news, insider Hock E. Tan sold 20,000 shares of the stock in a transaction dated Monday, July 16th. The shares were sold at an average price of $202.08, for a total transaction of $4,041,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Kirsten M. Spears sold 1,194 shares of the stock in a transaction dated Friday, September 28th. The stock was sold at an average price of $246.52, for a total transaction of $294,344.88. The disclosure for this sale can be found here. Insiders have sold 61,194 shares of company stock valued at $13,206,345 in the last quarter. Company insiders own 3.30% of the company’s stock.

About Broadcom

Broadcom Inc designs, develops, and supplies a range of 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 through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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