Farmers & Merchants Trust Co of Chambersburg PA Decreases Stake in Broadcom Inc. $AVGO

Key Points

• Farmers & Merchants Trust Co of Chambersburg PA cut its Broadcom stake by 9.4% in the first quarter, selling 1,554 shares and ending with 14,904 shares valued at about $4.6 million.
• Broadcom beat quarterly expectations, reporting EPS of $2.44 versus $2.40 expected and revenue of $22.19 billion, up 47.9% year over year.
• The company remains well covered by Wall Street, with a Moderate Buy consensus and an average price target of $493.24, while recent news highlights a more than $30 billion Apple deal and continued optimism around its AI-related business.

Farmers & Merchants Trust Co of Chambersburg PA reduced its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 9.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,904 shares of the semiconductor manufacturer's stock after selling 1,554 shares during the quarter. Broadcom accounts for approximately 1.3% of Farmers & Merchants Trust Co of Chambersburg PA's holdings, making the stock its 23rd largest holding. Farmers & Merchants Trust Co of Chambersburg PA's holdings in Broadcom were worth $4,613,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Fullerton Advisors LLC boosted its position in Broadcom by 1.3% during the 1st quarter. Fullerton Advisors LLC now owns 1,989 shares of the semiconductor manufacturer's stock valued at $616,000 after purchasing an additional 25 shares during the period. NORTHSTAR ASSET MANAGEMENT Co lifted its position in shares of Broadcom by 0.5% during the 1st quarter. NORTHSTAR ASSET MANAGEMENT Co now owns 5,350 shares of the semiconductor manufacturer's stock valued at $1,656,000 after acquiring an additional 25 shares during the last quarter. RFG Holdings Inc. increased its position in shares of Broadcom by 0.3% in the first quarter. RFG Holdings Inc. now owns 8,499 shares of the semiconductor manufacturer's stock worth $2,631,000 after acquiring an additional 26 shares in the last quarter. Baring Financial LLC lifted its stake in Broadcom by 2.2% in the 4th quarter. Baring Financial LLC now owns 1,359 shares of the semiconductor manufacturer's stock worth $470,000 after acquiring an additional 29 shares in the last quarter. Finally, Five Oceans Advisors boosted its stake in shares of Broadcom by 0.4% during the 4th quarter. Five Oceans Advisors now owns 8,191 shares of the semiconductor manufacturer's stock valued at $2,835,000 after buying an additional 29 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Price Performance

AVGO opened at $399.97 on Monday. The stock has a market cap of $1.90 trillion, a P/E ratio of 66.66, a P/E/G ratio of 0.70 and a beta of 1.45. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71. The company has a fifty day simple moving average of $405.29 and a 200 day simple moving average of $364.28. Broadcom Inc. has a 12 month low of $269.58 and a 12 month high of $495.00.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.04. The business had revenue of $22.19 billion during the quarter, compared to analyst estimates of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.Broadcom's quarterly revenue was up 47.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.58 EPS. On average, research analysts expect that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, June 22nd. Broadcom's payout ratio is currently 43.33%.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Harry L. You bought 1,000 shares of Broadcom stock in a transaction dated Thursday, June 11th. The stock was bought at an average cost of $373.57 per share, for a total transaction of $373,570.00. Following the purchase, the director owned 38,466 shares of the company's stock, valued at $14,369,743.62. The trade was a 2.67% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 25,000 shares of the company's stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $379.19, for a total transaction of $9,479,750.00. Following the completion of the transaction, the insider owned 219,989 shares in the company, valued at approximately $83,417,628.91. This represents a 10.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 36,644 shares of company stock worth $13,982,964. Company insiders own 1.90% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on AVGO. Susquehanna reiterated a "positive" rating and set a $490.00 price target (up from $450.00) on shares of Broadcom in a report on Thursday, May 28th. Oppenheimer reissued an "outperform" rating and issued a $535.00 price target (up from $450.00) on shares of Broadcom in a research report on Thursday, June 4th. KeyCorp reiterated an "overweight" rating and issued a $575.00 price objective (up from $500.00) on shares of Broadcom in a research note on Thursday, June 4th. Bank of America boosted their target price on shares of Broadcom from $450.00 to $530.00 and gave the company a "buy" rating in a research note on Thursday, June 4th. Finally, Rosenblatt Securities restated a "buy" rating and set a $500.00 price target on shares of Broadcom in a research report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Broadcom currently has a consensus rating of "Moderate Buy" and an average target price of $493.24.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s expanded Apple agreement, valued at more than $30 billion through 2031, strengthens visibility for revenue and highlights demand beyond AI chips. Why Broadcom Stock Rose Today
• Positive Sentiment: Analysts remain upbeat on Broadcom’s AI business, with Jefferies reiterating a Buy rating and a $550 price target as AI chip momentum improves. Broadcom’s (AVGO) AI Chip Momentum Keeps Wall Street Bullish
• Positive Sentiment: Broadcom is being viewed as a broader AI infrastructure winner because its networking products help connect large-scale AI systems, expanding the investment thesis beyond GPUs and custom chips. Broadcom stock's latest catalyst targets Nvidia where it looks strongest
• Neutral Sentiment: Some coverage notes Broadcom’s near-$2 trillion market value and strong AI revenue growth, but also suggests much of the good news may already be reflected in the stock. Broadcom Is Less Than 5% From the $2 Trillion Club -- and Apple Just Committed $30 Billion for More Chips
• Negative Sentiment: Erste Group downgraded Broadcom to Hold, citing valuation concerns, which may be limiting upside after the recent rally. Erste Group downgrades Broadcom to Hold citing valuation concerns

Broadcom Company Profile

Broadcom Inc NASDAQ: AVGO is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company's semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom's portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.

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