Janney Montgomery Scott LLC Buys 93,142 Shares of Broadcom Inc. $AVGO

Key Points

• Janney Montgomery Scott LLC increased its stake in Broadcom Inc. by 5.6%, purchasing an additional 93,142 shares to hold a total of 1,763,860 shares, valued at approximately $486 million.
• The CFO of Broadcom, Kirsten M. Spears, recently sold 7,498 shares, representing a 2.34% decrease in their ownership, while overall insider selling outpaced buying in the past ninety days.
• Broadcom reported earnings of $1.69 per share in its recent quarter, exceeding analysts' expectations, and declared a quarterly dividend of $0.59, with an annualized yield of 0.7%.

Janney Montgomery Scott LLC boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 5.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,763,860 shares of the semiconductor manufacturer's stock after purchasing an additional 93,142 shares during the quarter. Broadcom comprises 1.3% of Janney Montgomery Scott LLC's holdings, making the stock its 9th biggest position. Janney Montgomery Scott LLC's holdings in Broadcom were worth $486,208,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Elser Financial Planning Inc bought a new stake in shares of Broadcom in the 2nd quarter valued at about $394,000. Cyr Financial Inc. increased its stake in Broadcom by 62.9% during the 2nd quarter. Cyr Financial Inc. now owns 4,525 shares of the semiconductor manufacturer's stock worth $1,247,000 after purchasing an additional 1,747 shares in the last quarter. Oakworth Capital Inc. increased its stake in Broadcom by 14.8% during the 2nd quarter. Oakworth Capital Inc. now owns 14,175 shares of the semiconductor manufacturer's stock worth $3,907,000 after purchasing an additional 1,828 shares in the last quarter. Baron Silver Stevens Financial Advisors LLC increased its stake in Broadcom by 2.5% during the 2nd quarter. Baron Silver Stevens Financial Advisors LLC now owns 3,750 shares of the semiconductor manufacturer's stock worth $1,034,000 after purchasing an additional 91 shares in the last quarter. Finally, Archford Capital Strategies LLC increased its stake in Broadcom by 4.7% during the 2nd quarter. Archford Capital Strategies LLC now owns 37,799 shares of the semiconductor manufacturer's stock worth $10,419,000 after purchasing an additional 1,681 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

Insider Buying and Selling

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 value of $2,606,754.68. Following the transaction, the chief financial officer owned 313,330 shares in the company, valued at approximately $108,932,307.80. This trade represents a 2.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Charlie B. Kawwas sold 3,893 shares of the firm's stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $347.82, for a total value of $1,354,063.26. Following the completion of the transaction, the insider owned 25,295 shares in the company, valued at $8,798,106.90. The trade was a 13.34% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 3,550 shares of company stock valued at $1,227,869 and have sold 666,071 shares valued at $225,623,008. Company insiders own 2.00% of the company's stock.

Broadcom Stock Up 1.4%

AVGO opened at $338.18 on Friday. Broadcom Inc. has a fifty-two week low of $138.10 and a fifty-two week high of $374.23. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50. The company has a market capitalization of $1.60 trillion, a P/E ratio of 86.27, a P/E/G ratio of 1.85 and a beta of 1.20. The stock has a fifty day moving average of $317.47 and a 200-day moving average of $256.30.

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

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were given a $0.59 dividend. The ex-dividend date was Monday, September 22nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. Broadcom's dividend payout ratio (DPR) is presently 60.20%.

Analysts Set New Price Targets

A number of analysts recently issued reports on AVGO shares. Argus increased their target price on Broadcom from $285.00 to $375.00 and gave the stock a "buy" rating in a research note on Monday, September 8th. HSBC raised shares of Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price target for the company in a research note on Tuesday, June 24th. Oppenheimer reaffirmed an "outperform" rating and set a $360.00 price target (up from $325.00) on shares of Broadcom in a research note on Friday, September 5th. Sanford C. Bernstein raised their price target on shares of Broadcom from $295.00 to $400.00 and gave the stock an "outperform" rating in a research note on Friday, September 5th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Broadcom from $300.00 to $350.00 and gave the stock a "buy" rating in a research note 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $357.22.

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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