FARMERS & MERCHANTS TRUST Co OF LONG BEACH Increases Position in Broadcom Inc. $AVGO

Key Points

• Farmers & Merchants Trust Co of Long Beach increased its stake in Broadcom by 7.0%, now owning 15,474 shares valued at approximately $4.26 million.
• CEO Hock E. Tan and Director Henry Samueli sold significant shares worth over $174 million, representing notable decreases in their ownership.
• Broadcom's analysts widely upgraded the stock, with target prices reaching up to $400, reflecting strong confidence in the company's performance amid solid earnings reports.

FARMERS & MERCHANTS TRUST Co OF LONG BEACH boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 7.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,474 shares of the semiconductor manufacturer's stock after acquiring an additional 1,012 shares during the period. Broadcom accounts for 0.9% of FARMERS & MERCHANTS TRUST Co OF LONG BEACH's holdings, making the stock its 27th biggest position. FARMERS & MERCHANTS TRUST Co OF LONG BEACH's holdings in Broadcom were worth $4,265,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AVGO. Barnes Dennig Private Wealth Management LLC purchased a new position in Broadcom during the 1st quarter worth $25,000. Cheviot Value Management LLC acquired a new position in shares of Broadcom in the 1st quarter valued at about $25,000. Inlight Wealth Management LLC acquired a new position in shares of Broadcom in the 1st quarter valued at about $26,000. Sawyer & Company Inc lifted its holdings 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 buying an additional 36 shares during the period. Finally, Legend Financial Advisors Inc. acquired a new position in Broadcom in the 2nd quarter worth about $28,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Hock E. Tan sold 148,154 shares of the firm's stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $336.67, for a total transaction of $49,879,007.18. Following the completion of the transaction, the chief executive officer directly owned 825,998 shares in the company, valued at $278,088,746.66. This trade represents a 15.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Henry Samueli sold 368,797 shares of the firm's stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $337.91, for a total value of $124,620,194.27. Following the transaction, the director owned 37,722,534 shares of the company's stock, valued at approximately $12,746,821,463.94. This represents 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 bought 3,550 shares of company stock valued at $1,227,869 and sold 666,071 shares valued at $225,623,008. 2.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on AVGO shares. Argus upped their price target on Broadcom from $285.00 to $375.00 and gave the stock a "buy" rating in a report on Monday, September 8th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $300.00 price target on shares of Broadcom in a report on Friday, June 6th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Broadcom from $300.00 to $350.00 and gave the company a "buy" rating in a research report on Friday, September 5th. Cowen reiterated a "buy" rating on shares of Broadcom in a research report on Friday, June 6th. Finally, Sanford C. Bernstein boosted their price objective on Broadcom from $295.00 to $400.00 and gave the stock an "outperform" rating in a research note on Friday, September 5th. Three investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $357.22.

Broadcom Price Performance

AVGO stock opened at $338.18 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37. The business has a 50 day simple moving average of $317.47 and a 200-day simple moving average of $256.30. The firm has a market capitalization of $1.60 trillion, a PE ratio of 86.27, a price-to-earnings-growth ratio of 1.85 and a beta of 1.20. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $374.23.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly 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 business had revenue of $15.95 billion during the quarter, compared to analyst estimates of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The business's revenue was up 22.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. Equities research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

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

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