Broadcom Inc. $AVGO Shares Sold by Farmers & Merchants Trust Co of Chambersburg PA

Key Points

• Farmers & Merchants Trust Co has reduced its holdings in Broadcom Inc. by 13.6% in Q2, now owning 18,108 shares valued at approximately $4.99 million.
• Broadcom's stock is currently down 0.2%, with a market cap of $1.63 trillion and a P/E ratio of 88.10.
• The company has recently reported earnings of $1.69 per share, exceeding estimates, with revenue growth of 22.0% year-over-year.

Farmers & Merchants Trust Co of Chambersburg PA lessened its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 13.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,108 shares of the semiconductor manufacturer's stock after selling 2,851 shares during the period. Broadcom comprises approximately 1.6% of Farmers & Merchants Trust Co of Chambersburg PA's holdings, making the stock its 17th biggest holding. Farmers & Merchants Trust Co of Chambersburg PA's holdings in Broadcom were worth $4,991,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in AVGO. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Broadcom in the 1st quarter valued at $25,000. Cheviot Value Management LLC purchased a new position in shares of Broadcom in the 1st quarter valued at $25,000. Inlight Wealth Management LLC purchased a new position in shares of Broadcom in the 1st quarter valued at $26,000. Sawyer & Company Inc raised its stake in shares of Broadcom by 62.1% in the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock valued at $26,000 after acquiring an additional 36 shares during the period. Finally, Sunbeam Capital Management LLC purchased a new position in shares of Broadcom in the 4th quarter valued at $28,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Analyst Ratings Changes

AVGO has been the topic of a number of research reports. Benchmark raised their target price on shares of Broadcom from $315.00 to $385.00 and gave the company a "buy" rating in a research note on Friday, September 5th. Rosenblatt Securities lifted their price target on shares of Broadcom from $340.00 to $400.00 and gave the stock a "buy" rating in a research note on Friday, September 5th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $340.00 price target on shares of Broadcom in a research note on Wednesday, August 13th. Bank of America lifted their price target on shares of Broadcom from $300.00 to $400.00 and gave the stock a "buy" rating in a research note on Friday, September 5th. Finally, KeyCorp lifted their price target on shares of Broadcom from $330.00 to $400.00 and gave the stock an "overweight" rating in a research note on Friday, September 5th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Broadcom currently has an average rating of "Buy" and an average target price of $356.48.

Insider Buying and Selling

In other news, Director Justine Page sold 800 shares of the company's stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $360.00, for a total value of $288,000.00. Following the completion of the sale, the director directly owned 22,982 shares of the company's stock, valued at approximately $8,273,520. This represents a 3.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kirsten M. Spears sold 7,498 shares of the company's stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $347.66, for a total transaction 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 approximately $108,932,307.80. This represents a 2.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders acquired 3,550 shares of company stock worth $1,227,869 and sold 790,522 shares worth $224,295,124. 2.00% of the stock is currently owned by insiders.

Broadcom Stock Performance

Broadcom stock traded down $6.15 during midday trading on Monday, reaching $338.79. 28,599,739 shares of the stock traded hands, compared to its average volume of 29,009,098. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. The firm has a fifty day moving average price of $309.32 and a two-hundred day moving average price of $249.20. The firm has a market cap of $1.60 trillion, a price-to-earnings ratio of 86.43, a PEG ratio of 1.91 and a beta of 1.16. Broadcom Inc. has a fifty-two week low of $138.10 and a fifty-two week high of $374.23.

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

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd will be paid a $0.59 dividend. 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 currently 60.20%.

Broadcom Company 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.