First Citizens Financial Corp Invests $377,000 in Broadcom Inc. $AVGO

Key Points

• First Citizens Financial Corp has invested approximately $377,000 to acquire 1,367 shares of Broadcom Inc. (NASDAQ:AVGO) in the second quarter.
• Broadcom reported earnings of $1.69 per share for its recent quarter, exceeding analyst expectations, with a revenue of $15.95 billion, up 22% from the prior year.
• The company recently declared a quarterly dividend of $0.59 per share, which will be paid to investors on September 30th, resulting in an annualized yield of 0.7%.

First Citizens Financial Corp acquired a new stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,367 shares of the semiconductor manufacturer's stock, valued at approximately $377,000.

Other hedge funds also recently modified their holdings of the company. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Broadcom in the 1st quarter valued at $25,000. Cheviot Value Management LLC bought a new stake in shares of Broadcom in the 1st quarter valued at $25,000. Inlight Wealth Management LLC bought a new stake in shares of Broadcom in the 1st quarter valued at $26,000. Sunbeam Capital Management LLC bought a new stake in shares of Broadcom in the 4th quarter valued at $28,000. Finally, Vermillion Wealth Management Inc. bought a new stake in shares of Broadcom in the 4th quarter valued at $30,000. Institutional investors own 76.43% of the company's stock.

Broadcom Stock Performance

NASDAQ AVGO opened at $359.87 on Friday. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $374.23. 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 firm has a market cap of $1.69 trillion, a price-to-earnings ratio of 91.80, a PEG ratio of 1.99 and a beta of 1.16. The company has a fifty day moving average price of $300.31 and a 200-day moving average price of $242.19.

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, 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 firm had revenue of $15.95 billion during the quarter, compared to analyst estimates of $15.82 billion. During the same quarter in the prior year, the business posted $1.24 EPS. The business's revenue was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. As a group, equities research analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently declared 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. 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 payout ratio is 60.20%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on AVGO shares. Cowen reiterated a "buy" rating on shares of Broadcom in a research note on Friday, June 6th. The Goldman Sachs Group restated a "buy" rating and set a $340.00 price target on shares of Broadcom in a research note on Wednesday, August 13th. Barclays boosted their price target on shares of Broadcom from $265.00 to $400.00 and gave the company an "overweight" rating in a research note on Friday, September 5th. Evercore ISI restated an "outperform" rating and set a $342.00 price target (up previously from $304.00) on shares of Broadcom in a research note on Thursday, September 4th. Finally, TD Cowen boosted their price target on shares of Broadcom from $355.00 to $370.00 and gave the company a "buy" rating in a research note on Friday, September 5th. Three research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Broadcom has a consensus rating of "Buy" and an average target price of $354.04.

Insider Buying and Selling

In related news, CFO Kirsten M. Spears sold 56,310 shares of the business's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $251.75, for a total value of $14,176,042.50. Following the transaction, the chief financial officer directly owned 361,937 shares of the company's stock, valued at approximately $91,117,639.75. The trade was a 13.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 50,000 shares of the business's stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $253.28, for a total transaction of $12,664,000.00. Following the completion of the transaction, the insider directly owned 415,956 shares in the company, valued at $105,353,335.68. This trade represents a 10.73% 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 worth $1,227,869 and sold 850,912 shares worth $234,854,489. Corporate insiders own 2.00% of the company's stock.

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.

Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc. (NASDAQ:AVGO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.