Amarillo National Bank Invests $237,000 in Broadcom Inc. $AVGO

Key Points

• Amarillo National Bank invested approximately $237,000 in Broadcom Inc. by purchasing 860 shares during the 2nd quarter.
• Analysts have set several new price targets for Broadcom, with ratings ranging from "hold" to "strong buy", and a consensus price target of $356.48.
• Broadcom recently announced a quarterly dividend of $0.59 per share, which will be paid on September 30th, representing an annualized yield of 0.7%.

Amarillo National Bank purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 860 shares of the semiconductor manufacturer's stock, valued at approximately $237,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. PARUS FINANCE UK Ltd boosted its holdings in Broadcom by 175.3% in the first quarter. PARUS FINANCE UK Ltd now owns 100,578 shares of the semiconductor manufacturer's stock valued at $16,840,000 after acquiring an additional 64,038 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in Broadcom by 27.9% in the first quarter. Geneos Wealth Management Inc. now owns 64,130 shares of the semiconductor manufacturer's stock valued at $10,737,000 after acquiring an additional 13,978 shares during the last quarter. Keener Financial Planning LLC boosted its holdings in Broadcom by 34.8% in the first quarter. Keener Financial Planning LLC now owns 890 shares of the semiconductor manufacturer's stock valued at $149,000 after acquiring an additional 230 shares during the last quarter. Diversify Wealth Management LLC boosted its holdings in Broadcom by 5.6% in the first quarter. Diversify Wealth Management LLC now owns 38,016 shares of the semiconductor manufacturer's stock valued at $6,365,000 after acquiring an additional 2,016 shares during the last quarter. Finally, Acorns Advisers LLC boosted its holdings in Broadcom by 24.3% in the first quarter. Acorns Advisers LLC now owns 4,184 shares of the semiconductor manufacturer's stock valued at $701,000 after acquiring an additional 818 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on AVGO shares. Macquarie initiated coverage on Broadcom in a report on Monday, September 15th. They issued an "outperform" rating and a $420.00 target price on the stock. Deutsche Bank Aktiengesellschaft increased their price target on Broadcom from $300.00 to $350.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Evercore ISI restated an "outperform" rating and set a $342.00 price target (up from $304.00) on shares of Broadcom in a report on Thursday, September 4th. 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. Finally, Mizuho increased their price target on Broadcom from $355.00 to $410.00 and gave the stock an "outperform" rating in a report on Friday, September 12th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $356.48.

Insiders Place Their Bets

In related news, insider Mark David Brazeal sold 16,558 shares of the stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total value of $5,755,726.38. Following the completion of the sale, the insider directly owned 329,302 shares of the company's stock, valued at approximately $114,468,668.22. This represents a 4.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kirsten M. Spears sold 7,498 shares of the stock in a transaction 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 sale, the chief financial officer directly 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 disclosure for this sale can be found here. In the last three months, insiders bought 3,550 shares of company stock worth $1,227,869 and sold 666,071 shares worth $225,623,008. 2.00% of the stock is owned by corporate insiders.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $334.53 on Monday. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $374.23. The stock's 50 day moving average is $313.66 and its 200-day moving average is $253.32. The firm has a market capitalization of $1.58 trillion, a price-to-earnings ratio of 85.34, a PEG ratio of 1.85 and a beta of 1.16.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, topping analysts' consensus estimates of $1.66 by $0.03. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The company had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. During the same period in the prior year, the firm earned $1.24 earnings per share. Broadcom's revenue for the quarter was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. Sell-side 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 will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, September 22nd. Broadcom's dividend payout ratio is presently 60.20%.

Broadcom Profile

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.

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