Clal Insurance Enterprises Holdings Ltd Raises Holdings in Broadcom Inc. $AVGO

Clal Insurance Enterprises Holdings Ltd boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 50.0% in the 4th quarter, HoldingsChannel reports. The fund owned 426,307 shares of the semiconductor manufacturer’s stock after buying an additional 142,040 shares during the quarter. Broadcom accounts for 1.0% of Clal Insurance Enterprises Holdings Ltd’s portfolio, making the stock its 26th biggest position. Clal Insurance Enterprises Holdings Ltd’s holdings in Broadcom were worth $147,545,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. ROSS JOHNSON & Associates LLC boosted its holdings in Broadcom by 1,320.0% during the 4th quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 66 shares during the period. SWAN Capital LLC boosted its holdings in Broadcom by 261.9% during the 4th quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 55 shares during the period. Miller Global Investments LLC purchased a new stake in Broadcom during the 4th quarter valued at about $31,000. Nvest Wealth Strategies Inc. purchased a new stake in Broadcom during the 4th quarter valued at about $33,000. Finally, Family CFO Inc purchased a new stake in Broadcom during the 4th quarter valued at about $35,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Broadcom

In other news, CFO Kirsten M. Spears sold 36,292 shares of the stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total value of $11,671,507.20. Following the completion of the transaction, the chief financial officer owned 327,760 shares of the company’s stock, valued at approximately $105,407,616. This represents a 9.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 50,488 shares of the stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total value of $16,236,940.80. Following the completion of the transaction, the insider directly owned 278,141 shares of the company’s stock, valued at $89,450,145.60. This represents a 15.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 324,282 shares of company stock worth $106,425,249 over the last 90 days. 1.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on AVGO shares. Rosenblatt Securities restated a “buy” rating and set a $500.00 target price on shares of Broadcom in a report on Thursday, June 4th. Evercore restated an “outperform” rating and set a $582.00 target price on shares of Broadcom in a report on Tuesday, May 19th. Wall Street Zen upgraded Broadcom from a “hold” rating to a “buy” rating in a report on Sunday, June 7th. UBS Group set a $485.00 target price on Broadcom and gave the company a “buy” rating in a report on Thursday, June 4th. Finally, Benchmark upped their price target on Broadcom from $485.00 to $545.00 and gave the company a “buy” rating in a research report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $490.13.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s quarterly results were very strong, with revenue up 48% to a record $22.2 billion, semiconductor revenue up 79%, AI semiconductor revenue up 143% to $10.8 billion, and more than $30 billion in AI bookings, suggesting demand remains robust. Article Title
• Positive Sentiment: Several analysts and commentators argue the recent drop could be a buying opportunity, saying Broadcom remains a core infrastructure winner in AI and that Wall Street’s long-term outlook is still constructive. Article Title
• Positive Sentiment: Fresh coverage highlighted Broadcom as one of the stocks with catalysts heading into the second half of the year, and some analysts have raised earnings forecasts and price targets despite the selloff. Article Title
• Neutral Sentiment: Jim Cramer said Broadcom’s earnings were “not good” and suggested tech stocks are harder to trust as leadership names, reflecting a more cautious market mood around the stock. Article Title
• Neutral Sentiment: Broadcom also announced cash tender offers for certain outstanding debt securities, a routine balance-sheet move that is unlikely to move the stock by itself. Article Title
• Negative Sentiment: Market commentary says the stock is being punished because investors are nitpicking Broadcom’s AI outlook and pricing the shares as if growth must keep accelerating without any hiccups. Article Title
• Negative Sentiment: One note warned that Broadcom told investors to expect gross profit margins to continue falling, reinforcing concerns that profitability may soften even as revenue grows. Article Title

Broadcom Trading Down 0.9%

AVGO opened at $382.07 on Friday. The business has a 50 day simple moving average of $404.26 and a two-hundred day simple moving average of $363.33. The firm has a market capitalization of $1.82 trillion, a price-to-earnings ratio of 63.68, a PEG ratio of 0.68 and a beta of 1.41. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01. Broadcom Inc. has a one year low of $244.17 and a one year high of $495.00.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.04. The business had revenue of $22.19 billion during the quarter, compared to analyst estimates of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.Broadcom’s quarterly revenue was up 47.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.58 EPS. Analysts predict that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd will be given a $0.65 dividend. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. Broadcom’s dividend payout ratio is currently 43.33%.

Broadcom Company Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.