Janiczek Wealth Management LLC Boosts Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Janiczek Wealth Management LLC raised its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 16.3% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 171 shares of the semiconductor manufacturer’s stock after buying an additional 24 shares during the period. Janiczek Wealth Management LLC’s holdings in Broadcom were worth $148,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of AVGO. Kozak & Associates Inc. increased its holdings in shares of Broadcom by 4.3% in the 2nd quarter. Kozak & Associates Inc. now owns 292 shares of the semiconductor manufacturer’s stock valued at $256,000 after purchasing an additional 12 shares in the last quarter. Armstrong Advisory Group Inc. grew its holdings in shares of Broadcom by 13.0% in the 2nd quarter. Armstrong Advisory Group Inc. now owns 113 shares of the semiconductor manufacturer’s stock worth $98,000 after acquiring an additional 13 shares during the period. Verity Asset Management Inc. raised its stake in shares of Broadcom by 3.0% during the 1st quarter. Verity Asset Management Inc. now owns 509 shares of the semiconductor manufacturer’s stock worth $327,000 after buying an additional 15 shares during the last quarter. Rosenberg Matthew Hamilton increased its stake in shares of Broadcom by 3.1% during the 1st quarter. Rosenberg Matthew Hamilton now owns 531 shares of the semiconductor manufacturer’s stock worth $341,000 after purchasing an additional 16 shares in the last quarter. Finally, Silver Oak Securities Incorporated lifted its stake in Broadcom by 2.9% in the 1st quarter. Silver Oak Securities Incorporated now owns 572 shares of the semiconductor manufacturer’s stock valued at $367,000 after buying an additional 16 shares in the last quarter. 78.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AVGO has been the subject of several analyst reports. Bank of America boosted their target price on shares of Broadcom from $950.00 to $1,050.00 in a research note on Thursday, June 22nd. Deutsche Bank Aktiengesellschaft boosted their price target on Broadcom from $905.00 to $950.00 in a report on Friday, September 1st. Evercore ISI restated an “outperform” rating and set a $1,000.00 price objective on shares of Broadcom in a report on Friday, September 1st. Truist Financial increased their price objective on shares of Broadcom from $942.00 to $995.00 and gave the stock a “buy” rating in a report on Friday, September 8th. Finally, Robert W. Baird boosted their price objective on shares of Broadcom from $900.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Tuesday, September 5th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $846.14.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $851.68 on Monday. The business’s fifty day moving average price is $875.05 and its two-hundred day moving average price is $763.54. The firm has a market capitalization of $351.52 billion, a PE ratio of 26.19, a P/E/G ratio of 1.79 and a beta of 1.10. The company has a debt-to-equity ratio of 1.73, a current ratio of 2.50 and a quick ratio of 2.25. Broadcom Inc. has a 1-year low of $415.07 and a 1-year high of $923.67.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, August 31st. The semiconductor manufacturer reported $10.54 EPS for the quarter, beating the consensus estimate of $10.43 by $0.11. The company had revenue of $8.85 billion for the quarter, compared to analyst estimates of $8.85 billion. Broadcom had a net margin of 39.25% and a return on equity of 74.31%. Broadcom’s revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the business earned $9.07 earnings per share. On average, research analysts expect that Broadcom Inc. will post 37.88 EPS for the current year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, September 21st will be paid a dividend of $4.60 per share. This represents a $18.40 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend is Wednesday, September 20th. Broadcom’s payout ratio is currently 56.58%.

Insider Buying and Selling

In other Broadcom news, Director Check Kian Low purchased 11,000 shares of the business’s stock in a transaction on Wednesday, September 6th. The stock was bought at an average cost of $872.03 per share, with a total value of $9,592,330.00. Following the acquisition, the director now owns 15,951 shares of the company’s stock, valued at $13,909,750.53. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Eddy W. Hartenstein sold 1,500 shares of Broadcom stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $855.68, for a total value of $1,283,520.00. Following the transaction, the director now directly owns 9,123 shares in the company, valued at approximately $7,806,368.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Check Kian Low purchased 11,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The stock was bought at an average price of $872.03 per share, with a total value of $9,592,330.00. Following the transaction, the director now directly owns 15,951 shares in the company, valued at $13,909,750.53. The disclosure for this purchase can be found here. 2.20% of the stock is owned by corporate 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.