Janney Capital Management LLC Trims Stock Position in Broadcom Inc. $AVGO

Key Points

• Janney Capital Management LLC has reduced its position in Broadcom Inc. by 4.4%, now owning 141,137 shares, making it the fund's 3rd largest holding worth approximately $38.9 million.
• Several institutional investors have recently increased their stakes in Broadcom, with institutional ownership now at 76.43% of the company's stock.
• Broadcom's recent quarterly earnings report showed an EPS of $1.69, beating expectations, with revenue growing 22.0% year-over-year, totaling $15.95 billion.

Janney Capital Management LLC lessened its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 141,137 shares of the semiconductor manufacturer's stock after selling 6,485 shares during the quarter. Broadcom accounts for approximately 2.5% of Janney Capital Management LLC's portfolio, making the stock its 3rd largest holding. Janney Capital Management LLC's holdings in Broadcom were worth $38,905,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Broadcom during the first quarter valued at about $25,000. Cheviot Value Management LLC bought a new position in shares of Broadcom during the first quarter valued at about $25,000. Inlight Wealth Management LLC bought a new position in shares of Broadcom during the first quarter valued at about $26,000. Sawyer & Company Inc grew its stake in shares of 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 buying an additional 36 shares during the last quarter. Finally, Legend Financial Advisors Inc. bought a new position in shares of Broadcom during the second quarter valued at about $28,000. Institutional investors own 76.43% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Evercore ISI reaffirmed an "outperform" rating and set a $342.00 price objective (up from $304.00) on shares of Broadcom in a research note on Thursday, September 4th. Sanford C. Bernstein raised their target price on Broadcom from $295.00 to $400.00 and gave the stock an "outperform" rating in a research note on Friday, September 5th. Arete Research raised Broadcom to a "strong-buy" rating in a research note on Monday, July 28th. Erste Group Bank raised Broadcom from a "hold" rating to a "buy" rating in a research note on Thursday, June 5th. Finally, HSBC raised Broadcom from a "hold" rating to a "buy" rating and set a $400.00 target price on the stock in a research note on Tuesday, June 24th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $357.22.

Broadcom Stock Performance

Shares of AVGO opened at $338.18 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37. Broadcom Inc. has a one year low of $138.10 and a one year high of $374.23. The company has a 50-day simple moving average of $317.47 and a two-hundred day simple moving average of $256.30. The firm has a market capitalization of $1.60 trillion, a PE ratio of 86.27, a price-to-earnings-growth ratio of 1.85 and a beta of 1.20.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.03. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The firm had revenue of $15.95 billion during the quarter, compared to analyst estimates of $15.82 billion. During the same period last year, the business earned $1.24 earnings per share. The business's revenue was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. On average, analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

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

Insider Activity

In related news, insider Mark David Brazeal sold 16,558 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the insider owned 329,302 shares of the company's stock, valued at $114,468,668.22. This trade represents a 4.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charlie B. Kawwas sold 3,893 shares of the firm's stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $347.82, for a total transaction of $1,354,063.26. Following the sale, the insider directly owned 25,295 shares of the company's stock, valued at $8,798,106.90. This trade represents a 13.34% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders bought 3,550 shares of company stock valued at $1,227,869 and sold 666,071 shares valued at $225,623,008. Company insiders own 2.00% of the company's stock.

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.

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