Texas Bank & Trust Co Cuts Position in Broadcom Inc. $AVGO

Texas Bank & Trust Co reduced its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,920 shares of the semiconductor manufacturer’s stock after selling 280 shares during the period. Texas Bank & Trust Co’s holdings in Broadcom were worth $1,907,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Sawyer & Company Inc grew its position in 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 buying an additional 36 shares during the period. Legend Financial Advisors Inc. acquired a new stake in shares of Broadcom during the 2nd quarter valued at approximately $28,000. LGT Financial Advisors LLC acquired a new stake in shares of Broadcom during the 2nd quarter valued at approximately $31,000. Maseco LLP purchased a new stake in shares of Broadcom during the 2nd quarter worth approximately $34,000. Finally, PFS Partners LLC grew its holdings in shares of Broadcom by 38.4% in the 2nd quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer’s stock worth $38,000 after acquiring an additional 38 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Trading Down 1.7%

Broadcom stock opened at $349.43 on Friday. The stock has a 50-day moving average price of $344.91 and a 200 day moving average price of $289.00. Broadcom Inc. has a 52 week low of $138.10 and a 52 week high of $386.48. The stock has a market cap of $1.65 trillion, a PE ratio of 89.14, a P/E/G ratio of 1.43 and a beta of 1.19. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results 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. The company had revenue of $15.95 billion for the quarter, compared to analysts’ expectations of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The firm’s revenue for the quarter was up 22.0% compared to the same quarter last year. During the same period last year, the company earned $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. Equities research analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

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

Insider Transactions at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 16,558 shares of the business’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total value of $5,755,726.38. Following the completion of the transaction, the insider directly owned 329,302 shares in the company, valued at approximately $114,468,668.22. The trade was a 4.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Charlie B. Kawwas sold 3,893 shares of the stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $347.82, for a total value of $1,354,063.26. Following the transaction, the insider directly owned 25,295 shares in the company, valued at approximately $8,798,106.90. This represents a 13.34% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders bought 3,550 shares of company stock worth $1,227,869 and sold 665,271 shares worth $225,464,248. Insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on AVGO. JPMorgan Chase & Co. lifted their price objective on Broadcom from $325.00 to $400.00 and gave the stock an “overweight” rating in a report on Friday, September 5th. Argus raised their price target on Broadcom from $285.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, September 8th. Macquarie initiated coverage on Broadcom in a research note on Monday, September 15th. They set an “outperform” rating and a $420.00 price target for the company. Sanford C. Bernstein increased their price objective on shares of Broadcom from $295.00 to $400.00 and gave the company an “outperform” rating in a research note on Friday, September 5th. Finally, Benchmark lifted their target price on shares of Broadcom from $315.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, September 5th. Three research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $372.52.

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.