Zions Bancorporation N.A. grew its position in shares of Broadcom Inc (NASDAQ:AVGO) by 21.6% in the first quarter, HoldingsChannel reports. The firm owned 641 shares of the semiconductor manufacturer’s stock after buying an additional 114 shares during the quarter. Zions Bancorporation N.A.’s holdings in Broadcom were worth $193,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of AVGO. Cigna Investments Inc. New grew its position in Broadcom by 9.0% in the fourth quarter. Cigna Investments Inc. New now owns 13,783 shares of the semiconductor manufacturer’s stock worth $3,505,000 after acquiring an additional 1,134 shares in the last quarter. Mondrian Capital Management LLC purchased a new position in shares of Broadcom during the fourth quarter valued at approximately $8,137,000. Gateway Investment Advisers LLC boosted its position in shares of Broadcom by 177.0% during the first quarter. Gateway Investment Advisers LLC now owns 136,598 shares of the semiconductor manufacturer’s stock valued at $41,076,000 after buying an additional 87,288 shares during the period. National Pension Service boosted its position in shares of Broadcom by 6.0% during the fourth quarter. National Pension Service now owns 394,048 shares of the semiconductor manufacturer’s stock valued at $110,925,000 after buying an additional 22,223 shares during the period. Finally, Outlook Wealth Advisors LLC boosted its position in shares of Broadcom by 773.5% during the first quarter. Outlook Wealth Advisors LLC now owns 856 shares of the semiconductor manufacturer’s stock valued at $257,000 after buying an additional 758 shares during the period. Hedge funds and other institutional investors own 84.41% of the company’s stock.

AVGO has been the subject of several recent analyst reports. DA Davidson boosted their target price on Broadcom to $325.00 and gave the company a “buy” rating in a research report on Friday, March 15th. MKM Partners boosted their target price on Broadcom to $310.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Zacks Investment Research lowered Broadcom from a “hold” rating to a “sell” rating in a research report on Tuesday, March 19th. BidaskClub lowered Broadcom from a “sell” rating to a “strong sell” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. lifted their price target on shares of Broadcom from $325.00 to $365.00 in a research note on Monday, March 18th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-eight have issued a buy rating to the company’s stock. Broadcom presently has a consensus rating of “Buy” and a consensus price target of $305.34.

In related news, CFO Thomas H. Krause sold 14,494 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $295.45, for a total value of $4,282,252.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Hock E. Tan sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $315.07, for a total transaction of $6,301,400.00. The disclosure for this sale can be found here. Insiders sold 87,824 shares of company stock valued at $26,390,919 in the last three months. 3.30% of the stock is currently owned by insiders.

NASDAQ:AVGO traded down $4.98 during trading hours on Friday, reaching $251.64. The company’s stock had a trading volume of 2,219,207 shares, compared to its average volume of 2,906,868. The company has a market capitalization of $101.58 billion, a price-to-earnings ratio of 13.36, a price-to-earnings-growth ratio of 1.20 and a beta of 0.68. Broadcom Inc has a 12 month low of $197.46 and a 12 month high of $323.20. The company has a quick ratio of 1.14, a current ratio of 1.27 and a debt-to-equity ratio of 1.47.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, March 14th. The semiconductor manufacturer reported $5.55 EPS for the quarter, topping analysts’ consensus estimates of $4.32 by $1.23. The company had revenue of $5.79 billion during the quarter, compared to the consensus estimate of $5.83 billion. Broadcom had a net margin of 30.50% and a return on equity of 30.31%. Broadcom’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.12 earnings per share. On average, sell-side analysts expect that Broadcom Inc will post 17.65 EPS for the current year.

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Broadcom Company Profile

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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