Broadcom Inc. $AVGO is Fifth Third Bancorp's 7th Largest Position

Key Points

• Fifth Third Bancorp holds 2,946,233 shares of Broadcom Inc., making it the bank's 7th largest investment position, accounting for 2.8% of its portfolio.
• Broadcom's quarterly earnings exceeded expectations, with an EPS of $1.69 and revenue of $15.95 billion, marking a 22% increase year-over-year.
• The company recently announced a quarterly dividend of $0.59 per share, which reflects a low dividend yield of 0.7% and a payout ratio of 60.20%.

Fifth Third Bancorp decreased its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 0.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,946,233 shares of the semiconductor manufacturer's stock after selling 5,822 shares during the period. Broadcom makes up 2.8% of Fifth Third Bancorp's investment portfolio, making the stock its 7th largest holding. Fifth Third Bancorp owned approximately 0.06% of Broadcom worth $812,129,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of AVGO. Bedrijfstakpensioenfonds Voor DE Media PNO purchased a new stake in Broadcom in the second quarter worth about $11,577,000. Sheets Smith Wealth Management raised its position in shares of Broadcom by 4.1% in the 2nd quarter. Sheets Smith Wealth Management now owns 3,511 shares of the semiconductor manufacturer's stock worth $968,000 after acquiring an additional 137 shares in the last quarter. Waycross Partners LLC lifted its stake in shares of Broadcom by 5.3% in the 2nd quarter. Waycross Partners LLC now owns 138,471 shares of the semiconductor manufacturer's stock valued at $38,170,000 after purchasing an additional 7,011 shares during the period. MCF Advisors LLC boosted its position in shares of Broadcom by 12.2% during the second quarter. MCF Advisors LLC now owns 15,532 shares of the semiconductor manufacturer's stock valued at $4,281,000 after purchasing an additional 1,690 shares in the last quarter. Finally, Hidden Cove Wealth Management LLC grew its stake in Broadcom by 26.5% in the second quarter. Hidden Cove Wealth Management LLC now owns 4,191 shares of the semiconductor manufacturer's stock worth $1,155,000 after purchasing an additional 878 shares during the period. 76.43% of the stock is owned by institutional investors.

Broadcom Trading Down 0.9%

Shares of NASDAQ AVGO opened at $336.10 on Friday. The firm's 50 day moving average price is $312.64 and its 200-day moving average price is $251.49. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $374.23. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50. The company has a market cap of $1.59 trillion, a PE ratio of 85.74, a P/E/G ratio of 1.88 and a beta of 1.16.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.03. The company had revenue of $15.95 billion during the quarter, compared to the consensus estimate of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The firm's quarterly revenue was up 22.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. On average, equities research analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 22nd will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Broadcom's dividend payout ratio (DPR) is 60.20%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on AVGO shares. KeyCorp raised their price objective on Broadcom from $330.00 to $400.00 and gave the company an "overweight" rating in a research report on Friday, September 5th. Cowen reissued a "buy" rating on shares of Broadcom in a research report on Friday, June 6th. TD Cowen upped their price objective on shares of Broadcom from $355.00 to $370.00 and gave the stock a "buy" rating in a report on Friday, September 5th. JPMorgan Chase & Co. raised their target price on shares of Broadcom from $325.00 to $400.00 and gave the company an "overweight" rating in a research note on Friday, September 5th. Finally, Erste Group Bank raised Broadcom from a "hold" rating to a "buy" rating in a research report on Thursday, June 5th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Broadcom has a consensus rating of "Buy" and a consensus price target of $356.48.

Insider Buying and Selling

In other Broadcom news, Director Justine Page sold 800 shares of the firm's stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $360.00, for a total value of $288,000.00. Following the transaction, the director directly owned 22,982 shares of the company's stock, valued at approximately $8,273,520. This trade represents a 3.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Hock E. Tan sold 100,000 shares of the business's stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $339.58, for a total transaction of $33,958,000.00. Following the sale, the chief executive officer owned 725,638 shares of the company's stock, valued at $246,412,152.04. This trade represents a 12.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders purchased 3,550 shares of company stock worth $1,227,869 and sold 297,274 shares worth $101,002,814. Corporate insiders own 2.00% of the company's stock.

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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