Webster Bank N. A. bought a new stake in Broadcom Inc (NASDAQ:AVGO) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 958 shares of the semiconductor manufacturer’s stock, valued at approximately $237,000.
Other large investors have also recently modified their holdings of the company. Massey Quick Simon & CO. LLC acquired a new position in Broadcom during the 2nd quarter worth approximately $104,000. Zions Bancorporation acquired a new position in Broadcom during the 2nd quarter worth approximately $109,000. MUFG Americas Holdings Corp acquired a new position in Broadcom during the 2nd quarter worth approximately $109,000. MUFG Securities EMEA plc acquired a new position in Broadcom during the 2nd quarter worth approximately $117,000. Finally, First Personal Financial Services acquired a new position in Broadcom during the 2nd quarter worth approximately $126,000. Institutional investors own 88.01% of the company’s stock.
NASDAQ:AVGO opened at $232.95 on Friday. 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 Inc has a 52 week low of $197.46 and a 52 week high of $285.68. The firm has a market capitalization of $102.01 billion, a PE ratio of 16.29, a PEG ratio of 1.02 and a beta of 0.89.
Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, September 6th. The semiconductor manufacturer reported $4.98 EPS for the quarter, beating the Zacks’ consensus estimate of $4.82 by $0.16. Broadcom had a net margin of 58.18% and a return on equity of 28.54%. The company had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5.06 billion. During the same period in the prior year, the firm posted $4.10 EPS. The company’s quarterly revenue was up 13.4% on a year-over-year basis. Equities research analysts forecast that Broadcom Inc will post 18.09 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Wednesday, September 19th were paid a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date was Tuesday, September 18th. Broadcom’s dividend payout ratio is currently 48.95%.
In other news, insider Hock E. Tan sold 20,000 shares of the company’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $204.90, for a total value of $4,098,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Kirsten M. Spears sold 1,194 shares of the company’s stock in a transaction on Friday, September 28th. The shares were 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. Over the last ninety days, insiders sold 61,194 shares of company stock worth $13,206,345. Insiders own 3.30% of the company’s stock.
A number of equities analysts recently issued reports on the stock. Sanford C. Bernstein reiterated a “buy” rating on shares of Broadcom in a research report on Thursday, July 12th. ValuEngine upgraded shares of Broadcom from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 25th. Craig Hallum reiterated a “buy” rating and set a $300.00 price objective (down from $330.00) on shares of Broadcom in a research report on Friday, September 7th. Longbow Research cut shares of Broadcom from a “buy” rating to a “neutral” rating in a research report on Thursday, July 12th. Finally, MKM Partners lowered their price objective on shares of Broadcom to $255.00 in a research report on Friday, September 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirty-one have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $290.77.
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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