Plimoth Trust Co. LLC Increases Holdings in Broadcom Inc. $AVGO

Key Points

• Plimoth Trust Co. LLC increased its holdings in Broadcom Inc. by 8.6% in Q2, now owning 18,572 shares valued at $5.12 million, making it the 19th largest position in its portfolio.
• Insiders sold a total of approximately $227 million worth of Broadcom stock recently, with CF Kirsten M. Spears selling 7,498 shares for over $2.6 million.
• Analysts have given Broadcom a majority Buy rating, with a consensus target price of $357.22, while UBS Group raised their target price to $345.00.

Plimoth Trust Co. LLC lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 8.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,572 shares of the semiconductor manufacturer's stock after acquiring an additional 1,476 shares during the quarter. Broadcom accounts for about 1.2% of Plimoth Trust Co. LLC's holdings, making the stock its 19th biggest position. Plimoth Trust Co. LLC's holdings in Broadcom were worth $5,119,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of 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 buying an additional 2,085,534 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Broadcom by 37.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer's stock worth $10,968,270,000 after acquiring an additional 17,985,046 shares during the period. Nuveen LLC purchased a new stake in Broadcom in the 1st quarter worth approximately $6,649,117,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Broadcom by 2.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 35,243,467 shares of the semiconductor manufacturer's stock worth $5,900,814,000 after acquiring an additional 842,088 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings 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 worth $5,668,134,000 after purchasing an additional 1,043,948 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Kirsten M. Spears sold 7,498 shares of Broadcom stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $347.66, for a total transaction of $2,606,754.68. Following the sale, the chief financial officer owned 313,330 shares of the company's stock, valued at approximately $108,932,307.80. The trade was a 2.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Charlie B. Kawwas sold 3,893 shares of the firm's stock in a transaction that occurred on 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 owned 25,295 shares in the company, valued at approximately $8,798,106.90. This represents a 13.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders acquired 3,550 shares of company stock worth $1,227,869 and sold 666,071 shares worth $225,623,008. Company insiders own 2.00% of the company's stock.

Analyst Ratings Changes

AVGO has been the topic of several recent analyst reports. UBS Group increased their target price on Broadcom from $290.00 to $345.00 and gave the stock a "buy" rating in a research report on Monday, August 25th. Morgan Stanley upped their price objective on shares of Broadcom from $338.00 to $357.00 and gave the company an "overweight" rating in a research note on Tuesday, September 2nd. Benchmark boosted their target price on shares of Broadcom from $315.00 to $385.00 and gave the company a "buy" rating in a report on Friday, September 5th. Weiss Ratings lowered shares of Broadcom from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday. Finally, Truist Financial lifted their price target on shares of Broadcom from $295.00 to $365.00 and gave the company a "buy" rating in a report on Friday, September 5th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $357.22.

Broadcom Stock Performance

Shares of Broadcom stock opened at $324.63 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50. The firm has a market cap of $1.53 trillion, a PE ratio of 82.81, a price-to-earnings-growth ratio of 1.91 and a beta of 1.20. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $374.23. The firm's 50-day simple moving average is $322.64 and its 200-day simple moving average is $262.37.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued 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 net margin of 31.59% and a return on equity of 36.60%. The company had revenue of $15.95 billion for the quarter, compared to analysts' expectations of $15.82 billion. During the same period in the prior year, the company 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. Equities analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Monday, September 22nd. Broadcom's payout ratio is presently 60.20%.

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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