First Financial Bankshares Inc Grows Stock Position in Broadcom Inc. $AVGO

Key Points

• First Financial Bankshares Inc increased its stake in Broadcom Inc. by 11.8%, now holding 800,772 shares valued at approximately $134 million, making it their 7th largest holding.
• Institutional ownership of Broadcom stands at 76.43%, with several high-profile hedge funds including Vanguard Group and Price T Rowe Associates boosting their positions significantly.
• Broadcom's stock has a current consensus rating of "Buy" from analysts, with a raised price target now averaging $301.79.

First Financial Bankshares Inc raised its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 11.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 800,772 shares of the semiconductor manufacturer's stock after acquiring an additional 84,250 shares during the period. Broadcom comprises 2.9% of First Financial Bankshares Inc's holdings, making the stock its 7th biggest holding. First Financial Bankshares Inc's holdings in Broadcom were worth $134,073,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Broadcom by 0.4% in the first quarter. Vanguard Group Inc. now owns 477,220,137 shares of the semiconductor manufacturer's stock valued at $79,900,968,000 after acquiring an additional 2,085,534 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Broadcom by 37.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer's stock valued at $10,968,270,000 after purchasing an additional 17,985,046 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Broadcom during the first quarter valued at about $6,649,117,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Broadcom by 1.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 34,401,379 shares of the semiconductor manufacturer's stock valued at $7,975,616,000 after purchasing an additional 581,704 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Broadcom by 3.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 33,852,310 shares of the semiconductor manufacturer's stock valued at $5,668,134,000 after purchasing an additional 1,043,948 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Insider Buying and Selling at Broadcom

In related news, CEO Hock E. Tan sold 40,000 shares of the company's stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $268.29, for a total transaction of $10,731,600.00. Following the completion of the sale, the chief executive officer owned 482,836 shares in the company, valued at approximately $129,540,070.44. This represents a 7.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Justine Page sold 800 shares of the company's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $307.46, for a total value of $245,968.00. Following the sale, the director owned 23,782 shares of the company's stock, valued at $7,312,013.72. This trade represents a 3.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 830,516 shares of company stock valued at $217,286,457 in the last three months. Insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Wells Fargo & Company lifted their price target on Broadcom from $230.00 to $255.00 and gave the company an "equal weight" rating in a research note on Friday, June 6th. Hsbc Global Res raised Broadcom from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 24th. Susquehanna lifted their price objective on Broadcom from $280.00 to $300.00 and gave the stock a "positive" rating in a research note on Friday, June 6th. Citigroup lifted their price objective on Broadcom from $285.00 to $315.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. Finally, Arete Research raised Broadcom to a "strong-buy" rating in a research note on Monday, July 28th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Broadcom currently has a consensus rating of "Buy" and a consensus price target of $301.79.

Broadcom Trading Down 3.6%

NASDAQ AVGO opened at $297.39 on Monday. The company has a market cap of $1.40 trillion, a price-to-earnings ratio of 111.38, a P/E/G ratio of 2.11 and a beta of 1.16. Broadcom Inc. has a 52 week low of $134.90 and a 52 week high of $317.35. The business has a 50 day moving average price of $287.74 and a 200-day moving average price of $234.66. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, beating the consensus estimate of $1.57 by $0.01. The firm had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.98 billion. Broadcom had a return on equity of 35.49% and a net margin of 22.64%.The company's quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $10.96 earnings per share. Broadcom has set its Q3 2025 guidance at EPS. As a group, equities analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 20th were issued a dividend of $0.59 per share. The ex-dividend date was Friday, June 20th. This represents a $2.36 annualized dividend and a yield of 0.8%. Broadcom's dividend payout ratio is 88.39%.

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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