Broadcom Ltd (AVGO) Stake Lowered by Goelzer Investment Management Inc.

Goelzer Investment Management Inc. lowered its holdings in Broadcom Ltd (NASDAQ:AVGO) by 4.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,403 shares of the semiconductor manufacturer’s stock after selling 562 shares during the period. Goelzer Investment Management Inc.’s holdings in Broadcom were worth $3,443,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Jennison Associates LLC grew its position in shares of Broadcom by 8.1% in the fourth quarter. Jennison Associates LLC now owns 5,583,858 shares of the semiconductor manufacturer’s stock valued at $1,434,493,000 after purchasing an additional 418,420 shares during the period. Bank of New York Mellon Corp grew its position in shares of Broadcom by 0.7% in the third quarter. Bank of New York Mellon Corp now owns 5,309,909 shares of the semiconductor manufacturer’s stock valued at $1,287,864,000 after purchasing an additional 36,356 shares during the period. Janus Henderson Group PLC grew its position in shares of Broadcom by 80.3% in the third quarter. Janus Henderson Group PLC now owns 3,397,443 shares of the semiconductor manufacturer’s stock valued at $823,980,000 after purchasing an additional 1,512,956 shares during the period. Allianz Asset Management GmbH grew its position in shares of Broadcom by 12.2% in the third quarter. Allianz Asset Management GmbH now owns 2,736,846 shares of the semiconductor manufacturer’s stock valued at $663,795,000 after purchasing an additional 297,100 shares during the period. Finally, Wells Fargo & Company MN grew its position in shares of Broadcom by 7.1% in the third quarter. Wells Fargo & Company MN now owns 2,223,092 shares of the semiconductor manufacturer’s stock valued at $539,188,000 after purchasing an additional 147,737 shares during the period. 88.54% of the stock is owned by institutional investors and hedge funds.

Broadcom Ltd (NASDAQ:AVGO) opened at $235.50 on Friday. The company has a market capitalization of $98,560.00, a PE ratio of 59.92, a price-to-earnings-growth ratio of 0.96 and a beta of 0.88. Broadcom Ltd has a one year low of $202.61 and a one year high of $285.68. The company has a debt-to-equity ratio of 0.75, a quick ratio of 5.68 and a current ratio of 6.26.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Wednesday, December 6th. The semiconductor manufacturer reported $4.59 EPS for the quarter, topping the Zacks’ consensus estimate of $4.52 by $0.07. The company had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.84 billion. Broadcom had a return on equity of 28.64% and a net margin of 10.18%. The firm’s quarterly revenue was up 17.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.47 earnings per share. sell-side analysts expect that Broadcom Ltd will post 17.41 EPS for the current year.

In related news, CFO Thomas H. Krause sold 656 shares of the business’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $264.38, for a total value of $173,433.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Hock E. Tan sold 20,000 shares of the business’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $259.68, for a total value of $5,193,600.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 86,674 shares of company stock worth $22,659,390. 3.60% of the stock is currently owned by insiders.

AVGO has been the subject of a number of recent analyst reports. KeyCorp reaffirmed an “overweight” rating and issued a $320.00 price objective (up previously from $290.00) on shares of Broadcom in a research report on Monday, December 4th. Zacks Investment Research downgraded Broadcom from a “hold” rating to a “sell” rating in a research report on Wednesday, October 25th. BidaskClub downgraded Broadcom from a “hold” rating to a “sell” rating in a research report on Thursday, January 11th. Barclays lifted their price objective on Broadcom from $290.00 to $300.00 and gave the company an “overweight” rating in a research report on Wednesday, October 18th. Finally, Credit Suisse Group reaffirmed a “buy” rating on shares of Broadcom in a research report on Tuesday, January 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirty-three have assigned a buy rating and one has given a strong buy rating to the company. Broadcom has a consensus rating of “Buy” and a consensus price target of $301.33.

WARNING: This report was first reported by Sports Perspectives and is owned by of Sports Perspectives. If you are accessing this report on another website, it was stolen and republished in violation of United States & international trademark and copyright legislation. The legal version of this report can be viewed at https://sportsperspectives.com/2018/02/10/broadcom-ltd-avgo-stake-lowered-by-goelzer-investment-management-inc.html.

Broadcom Company Profile

Broadcom Limited is a designer, developer and global supplier of a range of semiconductor devices with a focus on digital and mixed signal complementary metal oxide semiconductor (CMOS)-based devices and analog III-V based products. The Company operates through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Ltd (NASDAQ:AVGO).

Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

Receive News & Ratings for Broadcom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadcom and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply