Jacobi Capital Management LLC Grows Holdings in Broadcom Inc. $AVGO

Jacobi Capital Management LLC increased its position in Broadcom Inc. (NASDAQ:AVGO) by 5.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,588 shares of the semiconductor manufacturer’s stock after acquiring an additional 681 shares during the quarter. Jacobi Capital Management LLC’s holdings in Broadcom were worth $2,108,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AVGO. Nuveen LLC purchased a new stake in Broadcom in the 1st quarter worth approximately $6,649,117,000. Price T Rowe Associates Inc. MD increased its holdings in Broadcom by 37.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer’s stock worth $10,968,270,000 after acquiring an additional 17,985,046 shares in the last quarter. GAMMA Investing LLC increased its holdings in Broadcom by 18,179.3% in the 1st quarter. GAMMA Investing LLC now owns 17,276,164 shares of the semiconductor manufacturer’s stock worth $2,892,548,000 after acquiring an additional 17,181,652 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Broadcom by 16.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 31,854,414 shares of the semiconductor manufacturer’s stock worth $5,333,384,000 after acquiring an additional 4,550,647 shares in the last quarter. Finally, Deutsche Bank AG boosted its stake in Broadcom by 36.9% in the 1st quarter. Deutsche Bank AG now owns 15,758,895 shares of the semiconductor manufacturer’s stock worth $2,638,512,000 after purchasing an additional 4,245,345 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Barclays upped their price target on Broadcom from $265.00 to $400.00 and gave the stock an “overweight” rating in a research note on Friday, September 5th. Mizuho upped their price target on Broadcom from $320.00 to $355.00 and gave the stock an “outperform” rating in a research note on Friday, September 5th. Bank of America upped their price target on Broadcom from $300.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, September 5th. Truist Financial upped 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. Finally, HSBC upgraded 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. Three investment analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $351.92.

Insider Buying and Selling

In related news, Director Henry Samueli sold 473,898 shares of the firm’s stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $265.33, for a total value of $125,739,356.34. Following the completion of the sale, the director directly owned 38,188,575 shares in the company, valued at $10,132,574,604.75. This trade represents a 1.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gayla J. Delly sold 3,000 shares of the firm’s stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $265.13, for a total value of $795,390.00. Following the completion of the sale, the director owned 33,352 shares of the company’s stock, valued at approximately $8,842,615.76. This represents a 8.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 3,550 shares of company stock valued at $1,227,869 and sold 702,758 shares valued at $184,975,481. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Down 2.7%

NASDAQ AVGO opened at $359.63 on Friday. 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 $1.69 trillion, a P/E ratio of 91.74, a P/E/G ratio of 2.04 and a beta of 1.16. Broadcom Inc. has a one year low of $138.10 and a one year high of $374.23. The stock has a 50 day moving average price of $298.61 and a 200-day moving average price of $240.90.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.03. The firm had revenue of $15.95 billion during the quarter, compared to the consensus estimate of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The company’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. As a group, equities analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

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

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.