Broadcom Inc. $AVGO is First Merchants Corp's 8th Largest Position

First Merchants Corp trimmed its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 10.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 175,306 shares of the semiconductor manufacturer's stock after selling 20,786 shares during the period. Broadcom makes up about 1.9% of First Merchants Corp's portfolio, making the stock its 8th biggest position. First Merchants Corp's holdings in Broadcom were worth $48,323,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Sawyer & Company Inc raised its holdings in shares of Broadcom by 62.1% in the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock worth $26,000 after buying an additional 36 shares during the period. PFS Partners LLC increased its holdings in Broadcom by 38.4% during the 2nd quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer's stock worth $38,000 after purchasing an additional 38 shares during the period. Waddell & Associates LLC increased its holdings in Broadcom by 2.1% during the 1st quarter. Waddell & Associates LLC now owns 2,091 shares of the semiconductor manufacturer's stock worth $350,000 after purchasing an additional 43 shares during the period. Luts & Greenleigh Group Inc. increased its holdings in Broadcom by 1.3% during the 2nd quarter. Luts & Greenleigh Group Inc. now owns 3,405 shares of the semiconductor manufacturer's stock worth $939,000 after purchasing an additional 44 shares during the period. Finally, Challenger Wealth Management increased its holdings in Broadcom by 1.3% during the 1st quarter. Challenger Wealth Management now owns 3,504 shares of the semiconductor manufacturer's stock worth $587,000 after purchasing an additional 45 shares during the period. 76.43% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Broadcom news, CEO Hock E. Tan sold 100,000 shares of the business's stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $339.58, for a total transaction of $33,958,000.00. Following the completion of the sale, the chief executive officer directly owned 725,638 shares in the company, valued at approximately $246,412,152.04. The trade was a 12.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 16,558 shares of the business's stock in a transaction that occurred 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 sale, the insider owned 329,302 shares of the company's stock, valued at approximately $114,468,668.22. This trade represents a 4.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 3,550 shares of company stock worth $1,227,869 and have sold 664,471 shares worth $225,184,128. 2.00% of the stock is owned by insiders.

Broadcom Stock Performance

Shares of AVGO stock opened at $356.70 on Tuesday. The stock has a market cap of $1.68 trillion, a PE ratio of 90.99, a price-to-earnings-growth ratio of 1.80 and a beta of 1.20. The business has a 50-day simple moving average of $323.82 and a 200-day simple moving average of $264.90. 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 52-week low of $138.10 and a 52-week high of $374.23.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.03. The business had revenue of $15.95 billion during 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%.The company's revenue for the quarter was up 22.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. On average, equities analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were given a $0.59 dividend. The ex-dividend date was Monday, September 22nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. Broadcom's payout ratio is 60.20%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on AVGO shares. Hsbc Global Res upgraded Broadcom from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 24th. Oppenheimer reissued an "outperform" rating and issued a $360.00 price objective (up previously from $325.00) on shares of Broadcom in a research report on Friday, September 5th. Wall Street Zen raised Broadcom from a "hold" rating to a "buy" rating in a research report on Saturday, September 6th. Morgan Stanley raised their price objective on Broadcom from $338.00 to $357.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 2nd. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and set a $340.00 price target on shares of Broadcom in a research report on Wednesday, August 13th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $359.44.

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.

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