Fulton Bank N.A. Grows Stock Holdings in Broadcom Inc. $AVGO

Key Points

• Fulton Bank N.A. increased its holdings in Broadcom Inc. by 2.3% in the second quarter, owning 91,365 shares valued at approximately $25.18 million.
• Broadcom recently reported a quarterly earnings per share (EPS) of $1.69, exceeding analysts' estimates, with revenue increasing by 22.0% year-over-year to $15.95 billion.
• Several analysts have revised their price targets for Broadcom, with Mizuho raising its target from $355 to $410, indicating a positive outlook for the company's stock performance.

Fulton Bank N.A. lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 2.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 91,365 shares of the semiconductor manufacturer's stock after buying an additional 2,017 shares during the period. Broadcom makes up 0.9% of Fulton Bank N.A.'s portfolio, making the stock its 25th biggest position. Fulton Bank N.A.'s holdings in Broadcom were worth $25,185,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of AVGO. Vista Investment Partners LLC lifted its stake in Broadcom by 83.1% during the 2nd quarter. Vista Investment Partners LLC now owns 22,863 shares of the semiconductor manufacturer's stock valued at $6,302,000 after acquiring an additional 10,373 shares during the period. NorthCrest Asset Manangement LLC raised its holdings in shares of Broadcom by 0.8% during the second quarter. NorthCrest Asset Manangement LLC now owns 590,973 shares of the semiconductor manufacturer's stock valued at $162,624,000 after purchasing an additional 4,976 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Broadcom by 12.6% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 960,695 shares of the semiconductor manufacturer's stock valued at $264,364,000 after purchasing an additional 107,570 shares during the last quarter. Atticus Wealth Management LLC lifted its position in Broadcom by 142.6% during the second quarter. Atticus Wealth Management LLC now owns 6,873 shares of the semiconductor manufacturer's stock valued at $1,895,000 after purchasing an additional 4,040 shares during the period. Finally, Sharkey Howes & Javer purchased a new stake in Broadcom in the second quarter worth approximately $265,000. 76.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AVGO. Evercore ISI reiterated an "outperform" rating and set a $342.00 target price (up from $304.00) on shares of Broadcom in a research note on Thursday, September 4th. Wells Fargo & Company lifted their price objective on Broadcom from $255.00 to $345.00 and gave the stock an "equal weight" rating in a report on Friday, September 5th. Macquarie initiated coverage on Broadcom in a research report on Monday, September 15th. They set an "outperform" rating and a $420.00 price objective for the company. KeyCorp raised their target price on Broadcom from $330.00 to $400.00 and gave the stock an "overweight" rating in a research report on Friday, September 5th. Finally, Barclays boosted their target price on shares of Broadcom from $265.00 to $400.00 and gave the company an "overweight" rating in a research report on Friday, September 5th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Broadcom has an average rating of "Buy" and a consensus price target of $356.48.

Broadcom Price Performance

Shares of NASDAQ:AVGO traded down $4.91 during trading on Monday, hitting $339.44. 16,399,772 shares of the company's stock were exchanged, compared to its average volume of 26,399,619. The business's 50-day simple moving average is $308.05 and its 200 day simple moving average is $248.20. The company has a market cap of $1.60 trillion, a price-to-earnings ratio of 86.76, a PEG ratio of 1.91 and a beta of 1.16. Broadcom Inc. has a 52-week low of $138.10 and a 52-week 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.

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 for the quarter, topping the consensus estimate of $1.66 by $0.03. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The business had revenue of $15.95 billion during the quarter, compared to the consensus estimate of $15.82 billion. During the same period in the prior year, the company posted $1.24 EPS. The firm's revenue for the quarter was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. As a group, equities analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

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

Insider Buying and Selling

In other news, Director Harry L. You bought 500 shares of Broadcom stock in a transaction dated Wednesday, September 10th. The shares were purchased at an average cost of $363.38 per share, with a total value of $181,690.00. Following the completion of the acquisition, the director owned 35,602 shares of the company's stock, valued at $12,937,054.76. This trade represents a 1.42% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Justine Page sold 800 shares of the business's stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $360.00, for a total value of $288,000.00. Following the completion of the sale, the director owned 22,982 shares in the company, valued at $8,273,520. This represents a 3.36% 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 790,522 shares worth $224,295,124. 2.00% of the stock is currently owned by insiders.

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.