Goelzer Investment Management Inc. Acquires 17,826 Shares of Broadcom Inc. $AVGO

Key Points

• Goelzer Investment Management Inc. increased its stake in Broadcom Inc. by 19.6% during the second quarter, now owning 108,742 shares valued at approximately $29.975 million.
• Broadcom reported Q3 earnings of $1.69 EPS, exceeding expectations, with revenue of $15.95 billion, marking a 22% increase year-over-year.
• The company's stock is currently down 3.8% with a market cap of $1.63 trillion and an average price target of $356.48 according to analysts.

Goelzer Investment Management Inc. increased its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 19.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 108,742 shares of the semiconductor manufacturer's stock after purchasing an additional 17,826 shares during the period. Broadcom makes up 1.6% of Goelzer Investment Management Inc.'s portfolio, making the stock its 9th biggest position. Goelzer Investment Management Inc.'s holdings in Broadcom were worth $29,975,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in AVGO. Waddell & Associates LLC increased its holdings in shares of Broadcom by 2.1% during the first quarter. Waddell & Associates LLC now owns 2,091 shares of the semiconductor manufacturer's stock worth $350,000 after buying an additional 43 shares in the last quarter. Challenger Wealth Management increased its holdings in shares of Broadcom by 1.3% during the first quarter. Challenger Wealth Management now owns 3,504 shares of the semiconductor manufacturer's stock worth $587,000 after buying an additional 45 shares in the last quarter. Martingale Asset Management L P increased its holdings in shares of Broadcom by 1.3% during the first quarter. Martingale Asset Management L P now owns 3,876 shares of the semiconductor manufacturer's stock worth $649,000 after buying an additional 48 shares in the last quarter. Wescott Financial Advisory Group LLC increased its holdings in shares of Broadcom by 3.8% during the first quarter. Wescott Financial Advisory Group LLC now owns 1,326 shares of the semiconductor manufacturer's stock worth $222,000 after buying an additional 48 shares in the last quarter. Finally, Monterey Private Wealth Inc. increased its holdings in shares of Broadcom by 1.8% during the first quarter. Monterey Private Wealth Inc. now owns 2,780 shares of the semiconductor manufacturer's stock worth $465,000 after buying an additional 48 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on AVGO shares. Oppenheimer reaffirmed an "outperform" rating and set a $360.00 price objective (up previously from $325.00) on shares of Broadcom in a report on Friday, September 5th. Sanford C. Bernstein increased their price target on shares of Broadcom from $295.00 to $400.00 and gave the company an "outperform" rating in a research note on Friday, September 5th. Benchmark increased their price target on shares of Broadcom from $315.00 to $385.00 and gave the company a "buy" rating in a research note on Friday, September 5th. Cowen reissued a "buy" rating on shares of Broadcom in a research note on Friday, June 6th. Finally, Erste Group Bank raised shares of Broadcom from a "hold" rating to a "buy" rating in a research note on Thursday, June 5th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, Broadcom presently has an average rating of "Buy" and a consensus price target of $356.48.

Insider Activity

In related news, CFO Kirsten M. Spears sold 36,350 shares of the business's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $261.27, for a total value of $9,497,164.50. Following the sale, the chief financial officer directly owned 325,587 shares of the company's stock, valued at approximately $85,066,115.49. The trade was a 10.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 50,000 shares of the business's stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $253.28, for a total transaction of $12,664,000.00. Following the completion of the sale, the insider directly owned 415,956 shares in the company, valued at $105,353,335.68. This represents a 10.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders purchased 3,550 shares of company stock valued at $1,227,869 and sold 840,522 shares valued at $236,959,124. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Trading Down 0.1%

Shares of NASDAQ AVGO traded down $0.41 during midday trading on Friday, reaching $344.94. 41,147,297 shares of the stock were exchanged, compared to its average volume of 26,458,309. The business has a 50-day simple moving average of $306.64 and a two-hundred day simple moving average of $246.25. The company has a market capitalization of $1.63 trillion, a price-to-earnings ratio of 87.99, a P/E/G ratio of 1.91 and a beta of 1.16. Broadcom Inc. has a 12 month low of $138.10 and a 12 month high of $374.23. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly 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. The company had revenue of $15.95 billion for the quarter, compared to analysts' expectations of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The business's quarterly revenue was up 22.0% compared to the same quarter last year. During the same period last year, the firm posted $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. As a group, equities research analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

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