Empirical Financial Services LLC d.b.a. Empirical Wealth Management Raises Stock Position in Broadcom Inc. $AVGO

Key Points

• Empirical Financial Services LLC increased its holdings in Broadcom Inc. by 22.6% in Q2, acquiring an additional 14,935 shares.
• Broadcom reported strong Q3 earnings, with $1.69 EPS, exceeding analysts’ expectations, and marked a 22% year-over-year revenue increase.
• Several analysts have raised their price targets for Broadcom, with estimates now ranging as high as $420, reflecting growing confidence in the company's prospects.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 22.6% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 81,019 shares of the semiconductor manufacturer's stock after buying an additional 14,935 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Broadcom were worth $22,333,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Sawyer & Company Inc increased its stake in Broadcom by 62.1% in the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock worth $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 valued at about $28,000. Maseco LLP bought a new position in shares of Broadcom during the 2nd quarter valued at about $34,000. PFS Partners LLC boosted its holdings in shares of Broadcom by 38.4% during the 2nd quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer's stock valued at $38,000 after purchasing an additional 38 shares during the last quarter. Finally, Barnes Dennig Private Wealth Management LLC bought a new position in shares of Broadcom during the 1st quarter valued at about $25,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Broadcom Stock Up 0.3%

Shares of NASDAQ:AVGO opened at $336.41 on Wednesday. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. Broadcom Inc. has a 12 month low of $138.10 and a 12 month high of $374.23. The company has a 50-day moving average price of $320.03 and a 200 day moving average price of $259.78. The company has a market cap of $1.59 trillion, a price-to-earnings ratio of 85.82, a PEG ratio of 1.86 and a beta of 1.20.

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

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were paid a $0.59 dividend. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $2.36 annualized dividend and a yield of 0.7%. Broadcom's dividend payout ratio (DPR) is presently 60.20%.

Analysts Set New Price Targets

Several research analysts have commented on AVGO shares. Rosenblatt Securities increased their price objective on shares of Broadcom from $340.00 to $400.00 and gave the company a "buy" rating in a report on Friday, September 5th. Hsbc Global Res raised shares of Broadcom from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 24th. Wells Fargo & Company increased their price objective on shares of Broadcom from $255.00 to $345.00 and gave the company an "equal weight" rating in a report on Friday, September 5th. Citigroup increased their price objective on shares of Broadcom from $315.00 to $350.00 and gave the company a "buy" rating in a report on Friday, September 5th. Finally, KeyCorp reissued an "overweight" rating and set a $420.00 price objective (up previously from $400.00) on shares of Broadcom in a report on Tuesday, September 30th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $357.22.

Insiders Place Their Bets

In other Broadcom news, insider Mark David Brazeal sold 16,558 shares of the firm's stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $347.61, for a total value of $5,755,726.38. Following the completion of the sale, the insider owned 329,302 shares of the company's stock, valued at $114,468,668.22. This trade represents a 4.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Hock E. Tan sold 100,000 shares of the firm's stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $339.58, for a total transaction of $33,958,000.00. Following the completion of the sale, the chief executive officer directly owned 725,638 shares of the company's stock, valued at approximately $246,412,152.04. The trade was a 12.11% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 3,550 shares of company stock valued at $1,227,869 and have sold 666,071 shares valued at $225,623,008. 2.00% of the stock is currently owned by company 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.

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