Broadcom Inc. (NASDAQ:AVGO) is Farmers National Bank’s 5th Largest Position

Farmers National Bank grew its stake in Broadcom Inc. (NASDAQ:AVGO) by 3.7% during the 2nd quarter, Holdings Channel reports. The fund owned 5,919 shares of the semiconductor manufacturer’s stock after acquiring an additional 211 shares during the period. Broadcom comprises about 2.9% of Farmers National Bank’s portfolio, making the stock its 5th biggest position. Farmers National Bank’s holdings in Broadcom were worth $9,503,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. J. W. Coons Advisors LLC raised its holdings in Broadcom by 5.1% in the 4th quarter. J. W. Coons Advisors LLC now owns 1,410 shares of the semiconductor manufacturer’s stock valued at $1,574,000 after acquiring an additional 69 shares during the last quarter. CIBC Private Wealth Group LLC increased its stake in Broadcom by 39.8% in the fourth quarter. CIBC Private Wealth Group LLC now owns 93,613 shares of the semiconductor manufacturer’s stock valued at $104,496,000 after purchasing an additional 26,655 shares during the last quarter. Capital International Ltd. CA lifted its position in Broadcom by 1.7% during the fourth quarter. Capital International Ltd. CA now owns 78,268 shares of the semiconductor manufacturer’s stock worth $87,367,000 after buying an additional 1,310 shares during the period. Capital International Sarl boosted its stake in Broadcom by 10.5% in the 4th quarter. Capital International Sarl now owns 104,937 shares of the semiconductor manufacturer’s stock worth $117,136,000 after buying an additional 9,941 shares during the last quarter. Finally, Amussen Hunsaker Associates LLC grew its holdings in Broadcom by 4.8% in the 4th quarter. Amussen Hunsaker Associates LLC now owns 350 shares of the semiconductor manufacturer’s stock valued at $391,000 after buying an additional 16 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Activity at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the transaction, the chief executive officer now owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Hock E. Tan sold 7,502 shares of Broadcom stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $1,705.95, for a total value of $12,798,036.90. Following the completion of the transaction, the chief executive officer now owns 138,191 shares of the company’s stock, valued at $235,746,936.45. The disclosure for this sale can be found here. Insiders have sold 233,452 shares of company stock valued at $51,278,838 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AVGO. Bank of America reissued a “buy” rating and issued a $215.00 target price (up from $200.00) on shares of Broadcom in a research report on Monday, June 24th. Jefferies Financial Group lifted their price target on shares of Broadcom from $155.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, June 13th. Benchmark restated a “buy” rating and set a $210.00 price objective on shares of Broadcom in a report on Friday, September 6th. Mizuho lifted their target price on Broadcom from $162.50 to $190.00 and gave the company a “buy” rating in a report on Thursday, June 13th. Finally, Citigroup restated a “buy” rating and set a $156.00 price target on shares of Broadcom in a research note on Tuesday, June 11th. Two equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and an average target price of $189.23.

Broadcom Stock Performance

NASDAQ:AVGO opened at $167.47 on Wednesday. The firm has a 50-day moving average of $158.30 and a two-hundred day moving average of $148.82. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The stock has a market cap of $779.55 billion, a P/E ratio of 7.20, a PEG ratio of 2.78 and a beta of 1.16. Broadcom Inc. has a 1-year low of $80.89 and a 1-year high of $185.16.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. During the same quarter in the prior year, the business posted $0.95 earnings per share. Broadcom’s revenue for the quarter was up 47.3% on a year-over-year basis. On average, research analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend was Thursday, September 19th. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is 9.12%.

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.