Somerset Trust Co Makes New Investment in Broadcom Inc. $AVGO

Key Points

• Somerset Trust Co acquired a new stake in Broadcom Inc., purchasing 17,167 shares valued at approximately $4.73 million, which constitutes 1.5% of its investment portfolio.
• Broadcom reported earnings of $1.69 per share for the most recent quarter, beating estimates and achieving a 22% year-over-year revenue growth with total revenue of $15.95 billion.
• A significant portion of Broadcom's stock, approximately 76.43%, is owned by hedge funds and institutional investors, reflecting strong institutional interest in the company.

Somerset Trust Co acquired a new stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 17,167 shares of the semiconductor manufacturer's stock, valued at approximately $4,732,000. Broadcom makes up about 1.5% of Somerset Trust Co's portfolio, making the stock its 23rd largest position.

A number of other large investors have also recently added to or reduced their stakes in AVGO. Nuveen LLC bought a new stake in Broadcom during the first quarter worth approximately $6,649,117,000. Price T Rowe Associates Inc. MD boosted its holdings in Broadcom by 37.8% during the first 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 buying an additional 17,985,046 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Broadcom by 18,179.3% during the first quarter. GAMMA Investing LLC now owns 17,276,164 shares of the semiconductor manufacturer's stock worth $2,892,548,000 after buying an additional 17,181,652 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Broadcom by 16.7% during the first quarter. Goldman Sachs Group Inc. now owns 31,854,414 shares of the semiconductor manufacturer's stock worth $5,333,384,000 after buying an additional 4,550,647 shares in the last quarter. Finally, Deutsche Bank AG boosted its holdings in Broadcom by 36.9% during the first quarter. Deutsche Bank AG now owns 15,758,895 shares of the semiconductor manufacturer's stock worth $2,638,512,000 after buying an additional 4,245,345 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Insider Activity

In other Broadcom news, Director Gayla J. Delly sold 3,000 shares of the stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $265.13, for a total transaction of $795,390.00. Following the transaction, the director directly owned 33,352 shares of the company's stock, valued at $8,842,615.76. This represents a 8.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Mark David Brazeal sold 50,000 shares of the stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $253.28, for a total transaction of $12,664,000.00. Following the transaction, the insider directly owned 415,956 shares in the company, valued at $105,353,335.68. The trade was a 10.73% 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 valued at $1,227,869 and sold 850,112 shares valued at $234,654,209. Corporate insiders own 2.00% of the company's stock.

Broadcom Stock Up 1.2%

AVGO stock traded up $4.22 during midday trading on Monday, reaching $364.09. The company had a trading volume of 21,285,107 shares, compared to its average volume of 26,303,977. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $374.23. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $1.72 trillion, a P/E ratio of 92.88, a PEG ratio of 1.99 and a beta of 1.16. The company has a 50 day moving average of $300.31 and a two-hundred day moving average of $242.50.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.03. The business had revenue of $15.95 billion during the quarter, compared to analyst estimates of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. Broadcom's quarterly revenue was up 22.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. On average, equities research analysts expect 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. Shareholders of record on Monday, September 22nd will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Monday, September 22nd. Broadcom's dividend payout ratio is presently 60.20%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AVGO. UBS Group upped their price target on shares of Broadcom from $290.00 to $345.00 and gave the company a "buy" rating in a research report on Monday, August 25th. Cowen restated a "buy" rating on shares of Broadcom in a research report on Friday, June 6th. Truist Financial upped their price target on shares of Broadcom from $295.00 to $365.00 and gave the company a "buy" rating in a research report on Friday, September 5th. Argus upped their price target on shares of Broadcom from $285.00 to $375.00 and gave the company a "buy" rating in a research report on Monday, September 8th. Finally, Wells Fargo & Company upped their price target on shares of Broadcom from $255.00 to $345.00 and gave the company an "equal weight" rating in a research report on Friday, September 5th. Three research 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $356.48.

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.