Penobscot Investment Management Company Inc. Has $50.11 Million Stake in Broadcom Inc. $AVGO

Key Points

• Penobscot Investment Management Company Inc. holds a $50.11 million stake in Broadcom Inc., which accounts for approximately 4.3% of their investment portfolio after a slight decrease in shares.
• Broadcom reported a quarterly revenue of $15.95 billion, exceeding analyst estimates, with earnings per share of $1.69, surpassing expectations of $1.66.
• The company's stock has seen significant analyst support, with a consensus rating of "Buy" and an average target price of $357.22, indicating positive market sentiment.

Penobscot Investment Management Company Inc. decreased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 0.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 181,801 shares of the semiconductor manufacturer's stock after selling 1,254 shares during the quarter. Broadcom comprises approximately 4.3% of Penobscot Investment Management Company Inc.'s investment portfolio, making the stock its 4th biggest holding. Penobscot Investment Management Company Inc.'s holdings in Broadcom were worth $50,113,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Barnes Dennig Private Wealth Management LLC bought a new stake in Broadcom in the first quarter valued at about $25,000. Cheviot Value Management LLC acquired a new position in shares of Broadcom during the 1st quarter worth about $25,000. Inlight Wealth Management LLC bought a new stake in shares of Broadcom in the 1st quarter valued at about $26,000. Sawyer & Company Inc increased its stake in shares of Broadcom by 62.1% in the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock valued at $26,000 after acquiring an additional 36 shares during the last quarter. Finally, Legend Financial Advisors Inc. acquired a new stake in shares of Broadcom in the 2nd quarter valued at approximately $28,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Trading Up 2.7%

AVGO stock opened at $345.50 on Thursday. Broadcom Inc. has a one year low of $138.10 and a one year high of $374.23. The stock has a market cap of $1.63 trillion, a price-to-earnings ratio of 88.14, a price-to-earnings-growth ratio of 1.86 and a beta of 1.20. The company has a fifty day moving average price of $320.89 and a two-hundred day moving average price of $260.37. 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 announced its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, topping analysts' consensus estimates of $1.66 by $0.03. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The company had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. During the same quarter last year, the company earned $1.24 earnings per share. The firm'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 anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were paid 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 was Monday, September 22nd. Broadcom's dividend payout ratio is presently 60.20%.

Insider Activity at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 100,000 shares of the business's stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $339.58, for a total transaction of $33,958,000.00. Following the sale, the chief executive officer directly owned 725,638 shares of the company's stock, valued at $246,412,152.04. The trade was a 12.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Charlie B. Kawwas sold 3,893 shares of the stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $347.82, for a total value of $1,354,063.26. Following the completion of the sale, the insider directly owned 25,295 shares of the company's stock, valued at approximately $8,798,106.90. The trade was a 13.34% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 3,550 shares of company stock worth $1,227,869 and have sold 666,071 shares worth $225,623,008. Insiders own 2.00% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Arete Research raised Broadcom to a "strong-buy" rating in a research note on Monday, July 28th. UBS Group increased their price target on Broadcom from $290.00 to $345.00 and gave the stock a "buy" rating in a report on Monday, August 25th. Rosenblatt Securities raised their price target on Broadcom from $340.00 to $400.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. Piper Sandler lifted their price objective on Broadcom from $315.00 to $375.00 and gave the company an "overweight" rating in a report on Friday, September 5th. Finally, Oppenheimer reiterated an "outperform" rating and issued a $360.00 price objective (up from $325.00) on shares of Broadcom in a research report on Friday, September 5th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Broadcom currently has a consensus rating of "Buy" and an average target price of $357.22.

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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