Orrstown Financial Services Inc. Has $2.71 Million Holdings in Broadcom Inc. $AVGO

Key Points

• Orrstown Financial Services Inc. increased its holdings in Broadcom Inc. by 32.4%, owning 9,824 shares valued at approximately $2.71 million.
• Broadcom recently announced a quarterly dividend of $0.59 per share, representing an annualized dividend yield of 0.7%.
• Analysts have consistently raised their price targets for Broadcom, with estimates now ranging from $300.00 to $400.00, alongside a strong overall rating of "Buy."

Orrstown Financial Services Inc. raised its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 32.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,824 shares of the semiconductor manufacturer's stock after buying an additional 2,406 shares during the period. Broadcom accounts for about 0.6% of Orrstown Financial Services Inc.'s investment portfolio, making the stock its 22nd biggest position. Orrstown Financial Services Inc.'s holdings in Broadcom were worth $2,708,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of AVGO. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Broadcom during the first quarter worth approximately $25,000. Cheviot Value Management LLC acquired a new position in shares of Broadcom during the first quarter worth approximately $25,000. Inlight Wealth Management LLC acquired a new position in shares of Broadcom during the first quarter worth approximately $26,000. Sawyer & Company Inc lifted its position in shares of Broadcom by 62.1% during the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock worth $26,000 after purchasing an additional 36 shares in the last quarter. Finally, Vermillion Wealth Management Inc. acquired a new position in shares of Broadcom during the fourth quarter worth approximately $30,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Broadcom

In related news, CFO Kirsten M. Spears sold 7,498 shares of the stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $347.66, for a total transaction of $2,606,754.68. Following the completion of the transaction, the chief financial officer owned 313,330 shares in the company, valued at approximately $108,932,307.80. This represents a 2.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Henry Samueli sold 473,898 shares of the stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the transaction, the director owned 38,188,575 shares of the company's stock, valued at $10,132,574,604.75. The trade was a 1.23% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have acquired 3,550 shares of company stock valued at $1,227,869 and have sold 714,172 shares valued at $204,311,160. Company insiders own 2.00% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on AVGO shares. Susquehanna upped their target price on shares of Broadcom from $280.00 to $300.00 and gave the stock a "positive" rating in a research report on Friday, June 6th. Truist Financial increased their price objective on shares of Broadcom from $295.00 to $365.00 and gave the company a "buy" rating in a report on Friday, September 5th. Piper Sandler increased their price objective on shares of Broadcom from $315.00 to $375.00 and gave the company an "overweight" rating in a report on Friday, September 5th. Benchmark increased their price objective on shares of Broadcom from $315.00 to $385.00 and gave the company a "buy" rating in a report on Friday, September 5th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Broadcom from $325.00 to $400.00 and gave the company an "overweight" rating in a report on Friday, September 5th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $356.48.

Broadcom Stock Down 1.8%

Shares of AVGO stock opened at $338.79 on Tuesday. The firm has a fifty day moving average of $309.32 and a 200-day moving average of $249.20. 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 company has a market capitalization of $1.60 trillion, a price-to-earnings ratio of 86.43, a P/E/G ratio of 1.91 and a beta of 1.16.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $15.95 billion during the quarter, compared to the consensus estimate of $15.82 billion. During the same quarter in the prior year, the firm earned $1.24 earnings per share. The firm'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 earnings per share for the current fiscal year.

Broadcom Announces Dividend

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

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.

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