Burns J W & Co. Inc. NY Boosts Stake in Broadcom Inc. $AVGO

Key Points

• Burns J W & Co. Inc. increased its holdings in Broadcom Inc. by 49.6% in Q2, acquiring an additional 5,430 shares, bringing their total to 16,385 shares valued at approximately $4.5 million.
• Broadcom reported quarterly earnings of $1.69 per share, exceeding analyst expectations, and achieved revenue of $15.95 billion, representing a 22% increase from the previous year.
• The company announced a quarterly dividend of $0.59 per share, with a dividend yield of 0.7% and a payout ratio of 60.20% as of September 30.

Burns J W & Co. Inc. NY boosted its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 49.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,385 shares of the semiconductor manufacturer's stock after purchasing an additional 5,430 shares during the period. Burns J W & Co. Inc. NY's holdings in Broadcom were worth $4,517,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Sawyer & Company Inc raised its position in shares of Broadcom by 62.1% during the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock valued at $26,000 after buying an additional 36 shares during the period. Waddell & Associates LLC raised its stake in shares of Broadcom by 2.1% in the 1st quarter. Waddell & Associates LLC now owns 2,091 shares of the semiconductor manufacturer's stock valued at $350,000 after purchasing an additional 43 shares in the last quarter. Challenger Wealth Management grew its position in shares of Broadcom by 1.3% during the 1st quarter. Challenger Wealth Management now owns 3,504 shares of the semiconductor manufacturer's stock valued at $587,000 after buying an additional 45 shares during the last quarter. High Net Worth Advisory Group LLC lifted its stake in Broadcom by 1.7% during the second quarter. High Net Worth Advisory Group LLC now owns 2,671 shares of the semiconductor manufacturer's stock valued at $736,000 after purchasing an additional 45 shares during the last quarter. Finally, Martingale Asset Management L P lifted its position in Broadcom by 1.3% in the 1st quarter. Martingale Asset Management L P now owns 3,876 shares of the semiconductor manufacturer's stock worth $649,000 after buying an additional 48 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Broadcom Trading Up 1.4%

NASDAQ AVGO traded up $4.69 during trading on Tuesday, hitting $343.48. The company had a trading volume of 6,201,368 shares, compared to its average volume of 26,357,355. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. The company has a market cap of $1.62 trillion, a price-to-earnings ratio of 87.72, a price-to-earnings-growth ratio of 1.91 and a beta of 1.16. The company's fifty day moving average is $309.32 and its 200-day moving average is $249.20. Broadcom Inc. has a one year low of $138.10 and a one year high of $374.23.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.66 by $0.03. The company 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 business's revenue for the quarter was up 22.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. On average, sell-side analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

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

Insider Transactions at Broadcom

In related news, CFO Kirsten M. Spears sold 7,498 shares of the firm's stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $347.66, for a total transaction of $2,606,754.68. Following the completion of the transaction, the chief financial officer directly owned 313,330 shares of the company's stock, valued at $108,932,307.80. This trade represents a 2.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark David Brazeal sold 16,558 shares of the business's stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $347.61, for a total transaction of $5,755,726.38. Following the sale, the insider directly owned 329,302 shares in the company, valued at $114,468,668.22. The trade was a 4.79% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 3,550 shares of company stock worth $1,227,869 and have sold 714,172 shares worth $204,311,160. 2.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on AVGO shares. Rosenblatt Securities increased their price target on shares of Broadcom from $340.00 to $400.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Truist Financial lifted their price target on Broadcom from $295.00 to $365.00 and gave the stock a "buy" rating in a research note on Friday, September 5th. Barclays boosted their price objective on Broadcom from $265.00 to $400.00 and gave the company an "overweight" rating in a report on Friday, September 5th. Macquarie assumed coverage on Broadcom in a research report on Monday, September 15th. They set an "outperform" rating and a $420.00 price objective for the company. Finally, Oppenheimer reiterated an "outperform" rating and issued a $360.00 target price (up previously from $325.00) on shares of Broadcom in a report on Friday, September 5th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $356.48.

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.