Somerset Trust Co Takes Position in Broadcom Inc. $AVGO

Somerset Trust Co bought a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 17,167 shares of the semiconductor manufacturer’s stock, valued at approximately $4,732,000. Broadcom comprises 1.5% of Somerset Trust Co’s investment portfolio, making the stock its 23rd largest position.

Other large investors have also recently made changes to their positions in the company. PARUS FINANCE UK Ltd lifted its holdings in shares of Broadcom by 175.3% during the first quarter. PARUS FINANCE UK Ltd now owns 100,578 shares of the semiconductor manufacturer’s stock valued at $16,840,000 after purchasing an additional 64,038 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in Broadcom by 27.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 64,130 shares of the semiconductor manufacturer’s stock worth $10,737,000 after acquiring an additional 13,978 shares during the last quarter. Keener Financial Planning LLC raised its holdings in Broadcom by 34.8% in the 1st quarter. Keener Financial Planning LLC now owns 890 shares of the semiconductor manufacturer’s stock worth $149,000 after acquiring an additional 230 shares during the last quarter. Diversify Wealth Management LLC raised its holdings in Broadcom by 5.6% in the 1st quarter. Diversify Wealth Management LLC now owns 38,016 shares of the semiconductor manufacturer’s stock worth $6,365,000 after acquiring an additional 2,016 shares during the last quarter. Finally, Acorns Advisers LLC raised its holdings in Broadcom by 24.3% in the 1st quarter. Acorns Advisers LLC now owns 4,184 shares of the semiconductor manufacturer’s stock worth $701,000 after acquiring an additional 818 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Trading Up 0.1%

Shares of Broadcom stock opened at $359.87 on Friday. The company has a fifty day moving average of $300.31 and a 200 day moving average of $242.19. Broadcom Inc. has a fifty-two week low of $138.10 and a fifty-two week high of $374.23. The company has a market capitalization of $1.69 trillion, a P/E ratio of 91.80, a P/E/G ratio of 1.99 and a beta of 1.16. 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 (NASDAQ:AVGO) last released its quarterly earnings data 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 business 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 EPS. The business’s revenue was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. On average, sell-side analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

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

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Gayla J. Delly sold 3,000 shares of the stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $265.13, for a total transaction of $795,390.00. Following the completion of the transaction, the director owned 33,352 shares of the company’s stock, valued at $8,842,615.76. This represents a 8.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kirsten M. Spears sold 56,310 shares of the stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $251.75, for a total transaction of $14,176,042.50. Following the completion of the transaction, the chief financial officer directly owned 361,937 shares of the company’s stock, valued at approximately $91,117,639.75. The trade was a 13.46% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 3,550 shares of company stock worth $1,227,869 and have sold 850,912 shares worth $234,854,489. Company insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of Broadcom from $338.00 to $357.00 and gave the stock an “overweight” rating in a report on Tuesday, September 2nd. Oppenheimer restated an “outperform” rating and issued a $360.00 price objective (up from $325.00) on shares of Broadcom in a report on Friday, September 5th. UBS Group boosted their price objective on shares of Broadcom from $290.00 to $345.00 and gave the stock a “buy” rating in a report on Monday, August 25th. Wall Street Zen upgraded shares of Broadcom from a “hold” rating to a “buy” rating in a research note on Saturday, September 6th. Finally, Benchmark boosted their target price on shares of Broadcom from $315.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, September 5th. Three analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Broadcom has a consensus rating of “Buy” and an average target price of $354.04.

About Broadcom

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.