Raymond James Trust N.A. lessened its holdings in shares of Broadcom Inc (NASDAQ:AVGO) by 5.4% in the third quarter, Holdings Channel reports. The fund owned 10,227 shares of the semiconductor manufacturer’s stock after selling 579 shares during the period. Raymond James Trust N.A.’s holdings in Broadcom were worth $2,523,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Marcus Capital LLC purchased a new position in shares of Broadcom during the 2nd quarter valued at about $364,000. BP PLC purchased a new position in shares of Broadcom during the 2nd quarter valued at about $12,135,000. Wesbanco Bank Inc. purchased a new position in shares of Broadcom during the 2nd quarter valued at about $19,879,000. Sigma Investment Counselors Inc. purchased a new position in shares of Broadcom during the 2nd quarter valued at about $286,000. Finally, KBC Group NV purchased a new position in shares of Broadcom during the 2nd quarter valued at about $10,500,000. Hedge funds and other institutional investors own 88.01% of the company’s stock.

A number of brokerages recently weighed in on AVGO. Sanford C. Bernstein reissued a “buy” rating on shares of Broadcom in a report on Thursday, July 12th. ValuEngine raised Broadcom from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 25th. Craig Hallum reaffirmed a “buy” rating and issued a $300.00 price target (down from $330.00) on shares of Broadcom in a research note on Friday, September 7th. Longbow Research cut Broadcom from a “buy” rating to a “neutral” rating in a research note on Thursday, July 12th. Finally, MKM Partners decreased their price target on Broadcom to $255.00 in a research note on Friday, September 7th. One research 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. The company currently has an average rating of “Buy” and an average price target of $290.77.

In other news, insider Kirsten M. Spears sold 1,194 shares of Broadcom stock in a transaction that occurred on Friday, September 28th. The stock was sold at an average price of $246.52, for a total value of $294,344.88. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Hock E. Tan sold 20,000 shares of Broadcom stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $238.62, for a total value of $4,772,400.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,194 shares of company stock worth $9,164,745. Corporate insiders own 3.30% of the company’s stock.

Shares of AVGO stock opened at $238.32 on Wednesday. The company has a market capitalization of $102.01 billion, a PE ratio of 16.52, a price-to-earnings-growth ratio of 1.02 and a beta of 0.89. Broadcom Inc has a fifty-two week low of $197.46 and a fifty-two week high of $285.68. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.42 and a current ratio of 3.98.

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

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Wednesday, September 19th were given a $1.75 dividend. The ex-dividend date was Tuesday, September 18th. This represents a $7.00 dividend on an annualized basis and a dividend yield of 2.94%. Broadcom’s dividend payout ratio is currently 48.95%.

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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