First American Bank Sells 13,422 Shares of Broadcom Inc. $AVGO

Key Points

• First American Bank has reduced its stake in Broadcom Inc. by 3.8%, selling 13,422 shares and now holding 343,779 shares valued at approximately $94.76 million.
• Institutional investors collectively own 76.43% of Broadcom's stock, with several firms, including Brighton Jones LLC and Worth Asset Management LLC, significantly increasing their holdings recently.
• Broadcom's recent quarterly earnings exceeded expectations, with reported earnings of $1.69 EPS and revenues of $15.95 billion, indicating a 22% year-over-year growth.

First American Bank lowered its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 343,779 shares of the semiconductor manufacturer's stock after selling 13,422 shares during the period. Broadcom makes up 6.5% of First American Bank's investment portfolio, making the stock its 3rd biggest holding. First American Bank's holdings in Broadcom were worth $94,763,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Brighton Jones LLC increased its position in shares of Broadcom by 21.8% during the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock worth $6,882,000 after acquiring an additional 5,322 shares in the last quarter. Revolve Wealth Partners LLC increased its position in shares of Broadcom by 10.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock worth $1,854,000 after acquiring an additional 756 shares in the last quarter. Baker Tilly Wealth Management LLC increased its position in shares of Broadcom by 1.3% during the first quarter. Baker Tilly Wealth Management LLC now owns 8,298 shares of the semiconductor manufacturer's stock worth $1,389,000 after acquiring an additional 110 shares in the last quarter. Fiduciary Alliance LLC increased its position in shares of Broadcom by 12.1% during the first quarter. Fiduciary Alliance LLC now owns 30,988 shares of the semiconductor manufacturer's stock worth $5,188,000 after acquiring an additional 3,349 shares in the last quarter. Finally, Worth Asset Management LLC increased its position in shares of Broadcom by 505.3% during the first quarter. Worth Asset Management LLC now owns 13,915 shares of the semiconductor manufacturer's stock worth $2,330,000 after acquiring an additional 11,616 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Buying and Selling

In other Broadcom news, CFO Kirsten M. Spears sold 7,498 shares of the stock in a transaction that occurred 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 sale, the chief financial officer directly owned 313,330 shares in the company, valued at $108,932,307.80. This represents a 2.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Charlie B. Kawwas sold 3,893 shares of the stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $347.82, for a total transaction of $1,354,063.26. Following the completion of the sale, the insider owned 25,295 shares in the company, valued at $8,798,106.90. This represents a 13.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 3,550 shares of company stock worth $1,227,869 and sold 666,071 shares worth $225,623,008. Corporate insiders own 2.00% of the company's stock.

Broadcom Trading Down 2.0%

Shares of AVGO stock opened at $327.90 on Tuesday. The company has a 50 day moving average of $314.46 and a 200-day moving average of $254.25. 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 12-month low of $138.10 and a 12-month high of $374.23. The firm has a market cap of $1.55 trillion, a P/E ratio of 83.65, a PEG ratio of 1.85 and a beta of 1.16.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, topping the consensus estimate of $1.66 by $0.03. The company had revenue of $15.95 billion during the quarter, compared to the consensus estimate of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. Broadcom's revenue for the quarter was up 22.0% on a year-over-year basis. During the same period last year, the firm earned $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. Sell-side analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 22nd will be issued a $0.59 dividend. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $2.36 annualized dividend and a yield of 0.7%. Broadcom's dividend payout ratio (DPR) is 60.20%.

Analyst Ratings Changes

AVGO has been the subject of a number of recent analyst reports. Citigroup upped their price objective on shares of Broadcom from $315.00 to $350.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. JPMorgan Chase & Co. upped their price objective on shares of Broadcom from $325.00 to $400.00 and gave the stock an "overweight" rating in a research report on Friday, September 5th. Rosenblatt Securities upped their price objective on shares of Broadcom from $340.00 to $400.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Oppenheimer reaffirmed an "outperform" rating and issued a $360.00 price objective (up from $325.00) on shares of Broadcom in a research report on Friday, September 5th. Finally, UBS Group upped their price objective on shares of Broadcom from $290.00 to $345.00 and gave the stock a "buy" rating in a research report on Monday, August 25th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Broadcom has an average rating of "Buy" and an average target price of $356.48.

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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