Raymond James Trust N.A. boosted its position in Broadcom Inc (NASDAQ:AVGO) by 14.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,367 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,608 shares during the quarter. Raymond James Trust N.A.’s holdings in Broadcom were worth $3,719,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AVGO. Accurate Investment Solutions Inc. bought a new position in shares of Broadcom during the fourth quarter valued at about $25,000. Ruggie Capital Group bought a new position in shares of Broadcom during the fourth quarter valued at about $25,000. AlphaOne Investment Services LLC bought a new position in shares of Broadcom during the fourth quarter valued at about $25,000. First Financial Corp IN bought a new position in shares of Broadcom during the first quarter valued at about $30,000. Finally, Advisors Preferred LLC bought a new position in shares of Broadcom during the fourth quarter valued at about $32,000. 86.93% of the stock is currently owned by institutional investors and hedge funds.

In other news, SVP Charlie B. Kawwas sold 9,330 shares of Broadcom stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $295.93, for a total transaction of $2,761,026.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kirsten M. Spears sold 4,000 shares of Broadcom stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $306.31, for a total transaction of $1,225,240.00. The disclosure for this sale can be found here. Insiders have sold 87,824 shares of company stock valued at $25,189,319 over the last quarter. Company insiders own 3.30% of the company’s stock.

AVGO has been the topic of a number of recent research reports. ValuEngine cut Broadcom from a “buy” rating to a “hold” rating in a research note on Wednesday, January 2nd. DA Davidson raised their price objective on Broadcom to $325.00 and gave the company a “buy” rating in a research note on Friday, March 15th. Jefferies Financial Group raised their price objective on Broadcom from $314.00 to $341.00 and gave the company a “buy” rating in a research note on Friday, March 15th. JPMorgan Chase & Co. raised their price objective on Broadcom from $325.00 to $365.00 in a research note on Monday, March 18th. Finally, Deutsche Bank raised their price objective on Broadcom from $300.00 to $330.00 and gave the company a “buy” rating in a research note on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and thirty-two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $301.99.

AVGO traded down $0.63 on Monday, hitting $316.40. The company had a trading volume of 1,537,620 shares, compared to its average volume of 2,919,520. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.27 and a quick ratio of 1.14. Broadcom Inc has a 52-week low of $197.46 and a 52-week high of $317.52. The firm has a market capitalization of $122.48 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 1.44 and a beta of 0.68.

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

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were issued a dividend of $2.65 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $10.60 annualized dividend and a dividend yield of 3.35%. Broadcom’s payout ratio is 56.29%.

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Broadcom 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.

Further Reading: How to Invest in Growth Stocks

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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