Canvas Wealth Advisors LLC Increases Stake in Broadcom Inc. $AVGO

Canvas Wealth Advisors LLC boosted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 6.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,016 shares of the semiconductor manufacturer’s stock after purchasing an additional 616 shares during the quarter. Canvas Wealth Advisors LLC’s holdings in Broadcom were worth $2,948,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Barnes Dennig Private Wealth Management LLC bought a new position in Broadcom during the first quarter valued at approximately $25,000. Cheviot Value Management LLC bought a new position in Broadcom during the first quarter valued at $25,000. Sawyer & Company Inc lifted its holdings in Broadcom by 62.1% during the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock valued at $26,000 after buying an additional 36 shares in the last quarter. Legend Financial Advisors Inc. bought a new position in shares of Broadcom during the 2nd quarter worth approximately $28,000. Finally, Wood Tarver Financial Group LLC boosted its holdings in shares of Broadcom by 342.5% in the 1st quarter. Wood Tarver Financial Group LLC now owns 177 shares of the semiconductor manufacturer’s stock valued at $30,000 after acquiring an additional 137 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Citigroup reaffirmed a “buy” rating and set a $415.00 price objective (up from $350.00) on shares of Broadcom in a report on Tuesday, October 14th. UBS Group set a $415.00 price objective on shares of Broadcom and gave the stock a “buy” rating in a research report on Tuesday, October 14th. Truist Financial boosted their price objective on shares of Broadcom from $295.00 to $365.00 and gave the stock a “buy” rating in a research report on Friday, September 5th. Barclays set a $450.00 price objective on shares of Broadcom and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. Finally, Wells Fargo & Company raised their target price on shares of Broadcom from $255.00 to $345.00 and gave the stock an “equal weight” rating in a research report on Friday, September 5th. Three analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Broadcom presently has a consensus rating of “Buy” and a consensus target price of $372.52.

Insider Buying and Selling at Broadcom

In other news, CEO Hock E. Tan sold 148,154 shares of the company’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $336.67, for a total transaction of $49,879,007.18. Following the transaction, the chief executive officer directly owned 825,998 shares of the company’s stock, valued at $278,088,746.66. This represents a 15.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kirsten M. Spears sold 7,498 shares of the company’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $347.66, for a total transaction of $2,606,754.68. Following the transaction, the chief financial officer directly 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 disclosure for this sale can be found here. Over the last 90 days, insiders acquired 3,550 shares of company stock worth $1,227,869 and sold 665,271 shares worth $225,464,248. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Up 2.9%

Shares of Broadcom stock opened at $354.13 on Friday. The company has a market cap of $1.67 trillion, a P/E ratio of 90.34, a PEG ratio of 1.99 and a beta of 1.20. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50. Broadcom Inc. has a one year low of $138.10 and a one year high of $374.23. The firm has a fifty day moving average of $331.47 and a two-hundred day moving average of $275.94.

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

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were paid a dividend of $0.59 per share. The ex-dividend date of this dividend 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 is 60.20%.

About Broadcom

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.