First Citizens Bank & Trust Co. Has $38.86 Million Stake in Broadcom Inc. $AVGO

First Citizens Bank & Trust Co. lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 4.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 140,987 shares of the semiconductor manufacturer’s stock after buying an additional 5,704 shares during the quarter. Broadcom comprises approximately 0.6% of First Citizens Bank & Trust Co.’s investment portfolio, making the stock its 21st biggest holding. First Citizens Bank & Trust Co.’s holdings in Broadcom were worth $38,863,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Barnes Dennig Private Wealth Management LLC acquired a new position in Broadcom during the first quarter valued at approximately $25,000. Cheviot Value Management LLC acquired a new position in Broadcom during the first quarter valued at approximately $25,000. Sawyer & Company Inc grew its holdings in Broadcom by 62.1% during the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 36 shares during the period. Legend Financial Advisors Inc. acquired a new position in Broadcom during the second quarter valued at approximately $28,000. Finally, Wood Tarver Financial Group LLC grew its holdings in Broadcom by 342.5% during the first quarter. Wood Tarver Financial Group LLC now owns 177 shares of the semiconductor manufacturer’s stock valued at $30,000 after purchasing an additional 137 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Performance

Shares of AVGO stock opened at $372.97 on Wednesday. The company’s fifty day simple moving average is $334.16 and its 200-day simple moving average is $279.21. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86. The firm has a market cap of $1.76 trillion, a PE ratio of 95.15, a P/E/G ratio of 2.04 and a beta of 1.20. Broadcom Inc. has a 12 month low of $138.10 and a 12 month high of $374.23.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.03. The business had revenue of $15.95 billion for 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%. The firm’s revenue for the quarter was up 22.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. Equities research analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, September 22nd. Broadcom’s payout ratio is currently 60.20%.

Insiders Place Their Bets

In other news, CEO Hock E. Tan sold 100,000 shares of the business’s stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $339.58, for a total value of $33,958,000.00. Following the sale, the chief executive officer owned 725,638 shares of the company’s stock, valued at $246,412,152.04. The trade was a 12.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Henry Samueli sold 368,797 shares of the business’s stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $337.91, for a total transaction of $124,620,194.27. Following the completion of the sale, the director directly owned 37,722,534 shares in the company, valued at approximately $12,746,821,463.94. This represents a 0.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have purchased 3,550 shares of company stock valued at $1,227,869 and have sold 665,271 shares valued at $225,464,248. Company insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Broadcom from $325.00 to $400.00 and gave the company an “overweight” rating in a report on Friday, September 5th. Citigroup reaffirmed a “buy” rating and issued a $415.00 price target (up previously from $350.00) on shares of Broadcom in a research note on Tuesday, October 14th. 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 research note on Friday, September 5th. Piper Sandler lifted their price target on shares of Broadcom from $315.00 to $375.00 and gave the company an “overweight” rating in a research note on Friday, September 5th. Finally, Macquarie began coverage on shares of Broadcom in a research note on Monday, September 15th. They issued an “outperform” rating and a $420.00 price target on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Broadcom has a consensus rating of “Buy” and a consensus target price 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.