Janney Montgomery Scott LLC Raises Stock Position in Broadcom Inc. $AVGO

Key Points

• Janney Montgomery Scott LLC increased its Broadcom stake by 6.5% in Q1, adding 108,964 shares to bring its total to 1,774,688 shares valued at about $549.3 million. Broadcom is now its 7th-largest holding.
• Wall Street sentiment remains broadly positive, with several firms reiterating Buy ratings and raising price targets, including Jefferies at $550 and UBS at $485. Broadcom’s average analyst rating is still Moderate Buy with an average target of $493.24.
• Broadcom’s latest earnings beat expectations, with quarterly EPS of $2.44 and revenue of $22.19 billion, up 47.9% year over year. The company also paid a quarterly dividend of $0.65 per share, equal to a 0.7% annualized yield.

Janney Montgomery Scott LLC lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 6.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,774,688 shares of the semiconductor manufacturer's stock after buying an additional 108,964 shares during the period. Broadcom comprises 1.4% of Janney Montgomery Scott LLC's holdings, making the stock its 7th largest position. Janney Montgomery Scott LLC's holdings in Broadcom were worth $549,284,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of AVGO. ROSS JOHNSON & Associates LLC boosted its position in Broadcom by 1,320.0% during the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer's stock valued at $25,000 after purchasing an additional 66 shares during the last quarter. SWAN Capital LLC increased its position in shares of Broadcom by 261.9% during the 4th quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer's stock worth $26,000 after purchasing an additional 55 shares during the last quarter. Miller Global Investments LLC acquired a new stake in shares of Broadcom in the 4th quarter valued at approximately $31,000. Nvest Wealth Strategies Inc. acquired a new stake in shares of Broadcom in the 4th quarter valued at approximately $33,000. Finally, Family CFO Inc acquired a new stake in shares of Broadcom in the 4th quarter valued at approximately $35,000. Institutional investors own 76.43% of the company's stock.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: UBS reaffirmed a Buy rating on Broadcom and kept a $485 price target, citing strong AI ASIC demand and growth tied to customers like OpenAI and Anthropic. UBS Reaffirms Buy Rating on Broadcom (AVGO) Amid AI ASIC Demand and OpenAI, Anthropic Growth
• Positive Sentiment: Jefferies also reiterated a Buy rating and a $550 price target, reinforcing the view that Broadcom still has meaningful upside from current levels. Analyst updates Broadcom (AVGO) stock price target
• Positive Sentiment: Several articles highlighted Broadcom’s growing role in custom AI silicon and its partnership with OpenAI on the “Jalapeño” AI accelerator, which supports the bullish narrative around its AI revenue opportunity. What Broadcom (AVGO)'s Jalapeño AI Accelerator Partnership With OpenAI Means For Shareholders
• Neutral Sentiment: Erste Group Bank slightly raised FY2026 and FY2027 earnings estimates for Broadcom and kept a Buy rating, adding to the list of supportive but not market-moving analyst updates.
• Neutral Sentiment: Market commentary continues to frame Broadcom as a strong growth stock and a key AI beneficiary, but these are mostly reiterations of the bullish long-term thesis rather than new catalysts.
• Negative Sentiment: Director Justine Page sold 1,602 shares at an average price of $373.86, extending recent insider-selling headlines that can weigh on investor sentiment. SEC Form 4 filing for Justine Page sale
• Negative Sentiment: Broader articles about Broadcom’s recent slump and questions about valuation suggest investors are becoming more cautious after the stock’s strong run, even with bullish analysts arguing the weakness is a buying opportunity.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AVGO. The Goldman Sachs Group restated a "buy" rating and set a $525.00 target price on shares of Broadcom in a report on Thursday, June 4th. Royal Bank Of Canada lifted their price objective on shares of Broadcom from $360.00 to $400.00 and gave the company a "sector perform" rating in a research report on Thursday, June 4th. UBS Group set a $485.00 price objective on shares of Broadcom and gave the stock a "buy" rating in a research note on Thursday, June 4th. Oppenheimer reaffirmed an "outperform" rating and issued a $535.00 target price (up from $450.00) on shares of Broadcom in a report on Thursday, June 4th. Finally, Jefferies Financial Group set a $550.00 target price on shares of Broadcom and gave the company a "buy" rating in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Broadcom currently has an average rating of "Moderate Buy" and an average price target of $493.24.

Insider Transactions at Broadcom

In other news, Director Harry L. You acquired 1,000 shares of Broadcom stock in a transaction dated Thursday, June 11th. The stock was bought at an average price of $373.57 per share, for a total transaction of $373,570.00. Following the completion of the acquisition, the director directly owned 38,466 shares in the company, valued at approximately $14,369,743.62. The trade was a 2.67% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Justine Page sold 2,018 shares of the company's stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $353.00, for a total value of $712,354.00. Following the completion of the transaction, the director directly owned 18,164 shares in the company, valued at $6,411,892. The trade was a 10.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 60,987 shares of company stock worth $21,899,980. 1.90% of the stock is currently owned by insiders.

Broadcom Trading Down 2.2%

AVGO stock opened at $369.34 on Thursday. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01. The company has a fifty day moving average price of $410.00 and a two-hundred day moving average price of $362.34. Broadcom Inc. has a one year low of $262.73 and a one year high of $495.00. The stock has a market cap of $1.76 trillion, a price-to-earnings ratio of 61.56, a price-to-earnings-growth ratio of 0.66 and a beta of 1.45.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, beating the consensus estimate of $2.40 by $0.04. The firm had revenue of $22.19 billion for the quarter, compared to the consensus estimate of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The company's quarterly revenue was up 47.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.58 earnings per share. Equities analysts anticipate that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 22nd were paid a $0.65 dividend. The ex-dividend date was Monday, June 22nd. This represents a $2.60 dividend on an annualized basis and a yield of 0.7%. Broadcom's dividend payout ratio is 43.33%.

Broadcom Company Profile

Broadcom Inc NASDAQ: AVGO is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company's semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom's portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.

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