Webster Bank N. A. cut its stake in shares of Broadcom Inc (NASDAQ:AVGO) by 15.2% during the 1st quarter, Holdings Channel reports. The firm owned 812 shares of the semiconductor manufacturer’s stock after selling 146 shares during the period. Webster Bank N. A.’s holdings in Broadcom were worth $244,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Standard Life Aberdeen plc acquired a new position in Broadcom in the third quarter worth about $508,015,000. LPL Financial LLC grew its stake in Broadcom by 7.2% in the third quarter. LPL Financial LLC now owns 117,321 shares of the semiconductor manufacturer’s stock worth $28,947,000 after purchasing an additional 7,904 shares in the last quarter. Paloma Partners Management Co grew its stake in Broadcom by 203.1% in the third quarter. Paloma Partners Management Co now owns 6,919 shares of the semiconductor manufacturer’s stock worth $1,707,000 after purchasing an additional 4,636 shares in the last quarter. Lucia Wealth Services LLC grew its stake in Broadcom by 78.9% in the third quarter. Lucia Wealth Services LLC now owns 3,273 shares of the semiconductor manufacturer’s stock worth $808,000 after purchasing an additional 1,443 shares in the last quarter. Finally, Vident Investment Advisory LLC acquired a new position in Broadcom in the third quarter valued at approximately $912,000. 86.93% of the stock is currently owned by institutional investors.

Shares of NASDAQ:AVGO opened at $307.51 on Thursday. Broadcom Inc has a 12 month low of $197.46 and a 12 month high of $307.77. The company has a market cap of $121.73 billion, a P/E ratio of 16.33, a PEG ratio of 1.42 and a beta of 0.68. The company has a current ratio of 1.27, a quick ratio of 1.14 and a debt-to-equity ratio of 1.47.

Broadcom (NASDAQ:AVGO) last announced its earnings results 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 return on equity of 30.31% and a net margin of 30.50%. The firm had revenue of $5.79 billion for the quarter, compared to analysts’ expectations of $5.83 billion. During the same quarter in the previous year, the company earned $5.12 earnings per share. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, analysts anticipate that Broadcom Inc will post 17.65 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were issued a dividend of $2.65 per share. The ex-dividend date was Wednesday, March 20th. This represents a $10.60 annualized dividend and a yield of 3.45%. Broadcom’s payout ratio is 56.29%.

A number of brokerages have commented on AVGO. KeyCorp restated an “overweight” rating and issued a $335.00 target price (up from $310.00) on shares of Broadcom in a research note on Tuesday, April 2nd. Zacks Investment Research downgraded Broadcom from a “hold” rating to a “sell” rating in a research note on Tuesday, March 19th. SunTrust Banks lifted their target price on Broadcom to $339.00 and gave the company a “buy” rating in a research note on Friday, March 15th. They noted that the move was a valuation call. Jefferies Financial Group lifted their target price on Broadcom from $314.00 to $341.00 and gave the company a “buy” rating in a research note on Friday, March 15th. Finally, Citigroup began coverage on Broadcom in a research note on Friday, March 15th. They issued a “buy” rating for the company. One research analyst has rated the stock with a sell rating, nine have given 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 target price of $301.16.

In related news, insider Hock E. Tan sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 15th. The stock was sold at an average price of $254.99, for a total transaction of $5,099,800.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Charlie B. Kawwas sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $295.05, for a total value of $2,950,500.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 87,824 shares of company stock worth $25,189,319. 3.30% of the stock is owned by corporate insiders.

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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.

Read More: Return on Investment (ROI)

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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