Broadcom Inc. $AVGO Stock Position Raised by Chemung Canal Trust Co.

Key Points

• Chemung Canal Trust Co. has increased its position in Broadcom Inc. by 30.5%, owning 8,554 shares valued at approximately $2.36 million after acquiring an additional 2,001 shares in the second quarter.
• Insider sales at Broadcom have raised concerns, with CFO Kirsten M. Spears selling 7,498 shares and Director Henry Samueli selling 368,797 shares in recent transactions.
• Broadcom reported a 22% increase in revenue year-over-year, with quarterly earnings of $1.69 EPS, surpassing analyst expectations, and has set a dividend yield of 0.7% based on a recent quarterly payout.

Chemung Canal Trust Co. lifted its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 30.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,554 shares of the semiconductor manufacturer's stock after acquiring an additional 2,001 shares during the quarter. Chemung Canal Trust Co.'s holdings in Broadcom were worth $2,358,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. OLD National Bancorp IN purchased a new stake in shares of Broadcom in the 2nd quarter valued at approximately $1,370,000. Olistico Wealth LLC increased its stake in Broadcom by 6.5% in the 2nd quarter. Olistico Wealth LLC now owns 11,461 shares of the semiconductor manufacturer's stock valued at $3,159,000 after buying an additional 695 shares during the period. Sutton Place Investors LLC increased its stake in Broadcom by 25.2% in the 2nd quarter. Sutton Place Investors LLC now owns 3,845 shares of the semiconductor manufacturer's stock valued at $1,060,000 after buying an additional 775 shares during the period. Realta Investment Advisors increased its stake in Broadcom by 0.3% in the 2nd quarter. Realta Investment Advisors now owns 19,928 shares of the semiconductor manufacturer's stock valued at $5,493,000 after buying an additional 66 shares during the period. Finally, Wealthcare Capital Partners LLC increased its stake in Broadcom by 5.3% in the 2nd quarter. Wealthcare Capital Partners LLC now owns 3,006 shares of the semiconductor manufacturer's stock valued at $829,000 after buying an additional 150 shares during the period. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insiders Place Their Bets

In related news, CFO Kirsten M. Spears sold 7,498 shares of the firm's 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 transaction, the chief financial officer directly owned 313,330 shares in the company, valued at approximately $108,932,307.80. This trade represents a 2.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Henry Samueli sold 368,797 shares of the firm's stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $337.91, for a total transaction of $124,620,194.27. Following the completion of the transaction, the director owned 37,722,534 shares in the company, valued at $12,746,821,463.94. The trade was a 0.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 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 Stock Performance

Shares of AVGO opened at $345.02 on Friday. The company's fifty day moving average is $321.92 and its 200-day moving average is $261.43. Broadcom Inc. has a 12 month low of $138.10 and a 12 month high of $374.23. The firm has a market cap of $1.63 trillion, a price-to-earnings ratio of 88.02, a price-to-earnings-growth ratio of 1.91 and a beta of 1.20. 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 (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, topping the consensus estimate of $1.66 by $0.03. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The company had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. During the same quarter in the prior year, the business posted $1.24 EPS. Broadcom's quarterly revenue was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. Equities analysts expect 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 was Monday, September 22nd. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Broadcom's dividend payout ratio (DPR) is presently 60.20%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. KeyCorp reiterated an "overweight" rating and issued a $420.00 price objective (up previously from $400.00) on shares of Broadcom in a research note on Tuesday, September 30th. The Goldman Sachs Group reiterated a "buy" rating and issued a $340.00 price objective on shares of Broadcom in a research note on Wednesday, August 13th. Morgan Stanley upped their price objective on shares of Broadcom from $338.00 to $357.00 and gave the company an "overweight" rating in a research note on Tuesday, September 2nd. HSBC upgraded shares of Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price objective on the stock in a research note on Tuesday, June 24th. Finally, Wells Fargo & Company upped their price objective on shares of Broadcom from $255.00 to $345.00 and gave the company an "equal weight" rating in a research note on Friday, September 5th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $357.22.

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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