Broadcom Inc. $AVGO is Community Bank N.A.’s 10th Largest Position

Community Bank N.A. lessened its position in Broadcom Inc. (NASDAQ:AVGO) by 10.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 41,014 shares of the semiconductor manufacturer’s stock after selling 5,042 shares during the period. Broadcom makes up 1.5% of Community Bank N.A.’s investment portfolio, making the stock its 10th largest holding. Community Bank N.A.’s holdings in Broadcom were worth $11,305,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in AVGO. NorthRock Partners LLC lifted its position in Broadcom by 14.5% in the second quarter. NorthRock Partners LLC now owns 56,815 shares of the semiconductor manufacturer’s stock valued at $15,659,000 after purchasing an additional 7,177 shares during the period. Verdence Capital Advisors LLC raised its stake in shares of Broadcom by 15.4% during the 2nd quarter. Verdence Capital Advisors LLC now owns 94,172 shares of the semiconductor manufacturer’s stock worth $25,958,000 after buying an additional 12,575 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Broadcom by 10.7% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 240,924 shares of the semiconductor manufacturer’s stock valued at $66,411,000 after buying an additional 23,382 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in shares of Broadcom by 1.0% in the second quarter. Oregon Public Employees Retirement Fund now owns 406,447 shares of the semiconductor manufacturer’s stock valued at $112,037,000 after buying an additional 4,100 shares in the last quarter. Finally, Concord Asset Management LLC VA grew its holdings in Broadcom by 5.0% during the second quarter. Concord Asset Management LLC VA now owns 31,261 shares of the semiconductor manufacturer’s stock worth $8,617,000 after acquiring an additional 1,476 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Kirsten M. Spears sold 7,498 shares of the business’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $347.66, for a total value of $2,606,754.68. Following the completion of the transaction, the chief financial officer owned 313,330 shares of the company’s stock, valued at $108,932,307.80. The trade was a 2.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Hock E. Tan sold 148,154 shares of the firm’s stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $336.67, for a total transaction of $49,879,007.18. Following the sale, the chief executive officer owned 825,998 shares in the company, valued at approximately $278,088,746.66. This trade represents a 15.21% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders bought 3,550 shares of company stock worth $1,227,869 and sold 665,271 shares worth $225,464,248. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

AVGO has been the subject of a number of recent analyst reports. Argus raised their target price on Broadcom from $285.00 to $375.00 and gave the company a “buy” rating in a report on Monday, September 8th. Truist Financial raised their price objective on shares of Broadcom from $295.00 to $365.00 and gave the company a “buy” rating in a research note on Friday, September 5th. Barclays set a $450.00 target price on shares of Broadcom and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. Citigroup reiterated a “buy” rating and set a $415.00 price target (up from $350.00) on shares of Broadcom in a research report on Tuesday, October 14th. Finally, HSBC upgraded Broadcom from a “hold” rating to a “buy” rating and set a $400.00 price target on the stock in a report on Tuesday, June 24th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Broadcom has a consensus rating of “Buy” and an average target price of $372.33.

Broadcom Trading Down 1.4%

Shares of AVGO opened at $349.33 on Monday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37. Broadcom Inc. has a 1-year low of $138.10 and a 1-year high of $374.23. The stock has a market cap of $1.65 trillion, a price-to-earnings ratio of 89.11, a price-to-earnings-growth ratio of 1.97 and a beta of 1.20. The firm has a 50 day simple moving average of $327.73 and a 200-day simple moving average of $270.05.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.03. The firm had revenue of $15.95 billion for the quarter, compared to analysts’ expectations of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.Broadcom’s quarterly revenue was up 22.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. Equities analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were paid a $0.59 dividend. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $2.36 annualized dividend and a yield of 0.7%. Broadcom’s payout ratio is presently 60.20%.

About Broadcom

Broadcom Inc designs, develops, and supplies various 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 in two segments, Semiconductor Solutions and Infrastructure Software.