Farmers Trust Co. Has $465,000 Holdings in Broadcom Inc. (NASDAQ:AVGO)

Farmers Trust Co. trimmed its stake in Broadcom Inc. (NASDAQ:AVGO) by 19.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,005 shares of the semiconductor manufacturer’s stock after selling 495 shares during the period. Farmers Trust Co.’s holdings in Broadcom were worth $465,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. State Street Corp raised its position in shares of Broadcom by 948.5% during the third quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock worth $31,814,902,000 after acquiring an additional 166,844,263 shares during the last quarter. Geode Capital Management LLC increased its position in Broadcom by 976.6% during the 3rd quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock valued at $17,055,760,000 after purchasing an additional 89,975,941 shares during the period. FMR LLC raised its holdings in Broadcom by 1,121.3% during the 3rd quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock worth $15,594,088,000 after purchasing an additional 82,998,328 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of Broadcom by 842.4% in the 3rd quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer’s stock valued at $6,209,758,000 after purchasing an additional 32,178,542 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Broadcom by 975.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer’s stock worth $5,833,894,000 after buying an additional 30,674,902 shares during the last quarter. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Performance

Shares of NASDAQ AVGO traded up $0.07 during mid-day trading on Wednesday, reaching $228.71. 11,535,899 shares of the company’s stock were exchanged, compared to its average volume of 25,540,936. The firm has a market capitalization of $1.07 trillion, a price-to-earnings ratio of 198.71, a price-to-earnings-growth ratio of 2.15 and a beta of 1.03. The firm has a 50-day moving average price of $193.55 and a two-hundred day moving average price of $174.58. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. Broadcom Inc. has a 52 week low of $106.26 and a 52 week high of $251.88.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter in the previous year, the firm posted $0.98 EPS. Broadcom’s revenue was up 51.2% on a year-over-year basis. Analysts predict that Broadcom Inc. will post 3.79 EPS for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given a $0.59 dividend. The ex-dividend date of this dividend was Monday, December 23rd. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a dividend yield of 1.03%. Broadcom’s payout ratio is 191.87%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. William Blair started coverage on Broadcom in a report on Wednesday, September 18th. They set an “outperform” rating for the company. Bank of America lifted their target price on Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Mizuho increased their price target on Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Susquehanna lifted their price objective on shares of Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research note on Friday, December 13th. Finally, Citigroup raised their price target on shares of Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus target price of $221.88.

Insiders Place Their Bets

In other news, insider Charlie B. Kawwas sold 15,950 shares of the company’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $181.44, for a total value of $2,893,968.00. Following the transaction, the insider now owns 737,330 shares of the company’s stock, valued at approximately $133,781,155.20. This represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Diane M. Bryant sold 15,000 shares of Broadcom stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $226.68, for a total value of $3,400,200.00. Following the sale, the director now directly owns 6,460 shares of the company’s stock, valued at $1,464,352.80. This represents a 69.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 155,228 shares of company stock worth $35,643,408 in the last quarter. 2.00% of the stock is owned by company insiders.

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.