Fulton Bank N.A. Grows 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 position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 2.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 91,365 shares of the semiconductor manufacturer's stock after purchasing an additional 2,017 shares during the period. Broadcom accounts for about 0.9% of Fulton Bank N.A.'s holdings, making the stock its 25th biggest position. Fulton Bank N.A.'s holdings in Broadcom were worth $25,185,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in AVGO. Sawyer & Company Inc raised its position in Broadcom by 62.1% in the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock worth $26,000 after acquiring an additional 36 shares during the period. Sunbeam Capital Management LLC bought a new stake in Broadcom in the fourth quarter worth about $28,000. Vermillion Wealth Management Inc. bought a new stake in Broadcom in the fourth quarter worth about $30,000. Barnes Dennig Private Wealth Management LLC bought a new stake in Broadcom in the first quarter worth about $25,000. Finally, Cheviot Value Management LLC bought a new stake in Broadcom in the first quarter worth about $25,000. 76.43% of the stock is owned by institutional investors.

Broadcom Price Performance

NASDAQ AVGO traded up $4.05 on Tuesday, hitting $342.84. The stock had a trading volume of 6,027,616 shares, compared to its average volume of 26,351,529. The firm has a 50-day moving average of $309.32 and a 200-day moving average of $249.20. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $374.23. The company has a market capitalization of $1.62 trillion, a price-to-earnings ratio of 87.41, a price-to-earnings-growth ratio of 1.91 and a beta of 1.16.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, beating 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 the consensus estimate of $15.82 billion. During the same period last year, the firm earned $1.24 EPS. The business's quarterly revenue was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. Equities analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd will be issued a $0.59 dividend. 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 Transactions at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 148,154 shares of the firm's stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $336.67, for a total value of $49,879,007.18. Following the completion of the transaction, the chief executive officer directly owned 825,998 shares of the company's stock, valued at $278,088,746.66. This trade represents a 15.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mark David Brazeal sold 16,558 shares of the business's stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total transaction of $5,755,726.38. Following the completion of the transaction, the insider directly owned 329,302 shares of the company's stock, valued at approximately $114,468,668.22. This represents a 4.79% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 3,550 shares of company stock worth $1,227,869 and sold 714,172 shares worth $204,311,160. 2.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have commented on AVGO shares. Rosenblatt Securities lifted 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. Benchmark lifted their price objective on shares of Broadcom from $315.00 to $385.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Sanford C. Bernstein lifted their price objective on shares of Broadcom from $295.00 to $400.00 and gave the stock an "outperform" rating in a research report on Friday, September 5th. Wells Fargo & Company lifted their target price on shares of Broadcom from $255.00 to $345.00 and gave the stock an "equal weight" rating in a research note on Friday, September 5th. Finally, Morgan Stanley lifted their target price on shares of Broadcom from $338.00 to $357.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus 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.