Migdal Insurance & Financial Holdings Ltd. Raises Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 829.3% in the third quarter, HoldingsChannel reports. The firm owned 25,370 shares of the semiconductor manufacturer’s stock after buying an additional 22,640 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Broadcom were worth $4,376,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in AVGO. Brighton Jones LLC grew its stake in shares of Broadcom by 11.8% during the 1st quarter. Brighton Jones LLC now owns 2,347 shares of the semiconductor manufacturer’s stock valued at $3,111,000 after buying an additional 247 shares during the period. Forum Financial Management LP grew its holdings in shares of Broadcom by 0.8% during the 1st quarter. Forum Financial Management LP now owns 3,046 shares of the semiconductor manufacturer’s stock worth $4,037,000 after purchasing an additional 24 shares during the period. GM Advisory Group LLC increased its position in Broadcom by 7.2% during the 1st quarter. GM Advisory Group LLC now owns 4,068 shares of the semiconductor manufacturer’s stock worth $5,392,000 after purchasing an additional 273 shares in the last quarter. Wintrust Investments LLC raised its holdings in Broadcom by 2.4% in the first quarter. Wintrust Investments LLC now owns 6,467 shares of the semiconductor manufacturer’s stock valued at $8,571,000 after buying an additional 154 shares during the period. Finally, Banco Santander S.A. grew its stake in Broadcom by 10.8% during the first quarter. Banco Santander S.A. now owns 23,278 shares of the semiconductor manufacturer’s stock worth $30,853,000 after buying an additional 2,278 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling

In other news, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total value of $8,168,500.00. Following the completion of the transaction, the chief executive officer now owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Hock E. Tan sold 10,000 shares of Broadcom stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $167.14, for a total transaction of $1,671,400.00. Following the completion of the transaction, the chief executive officer now owns 1,171,910 shares in the company, valued at approximately $195,873,037.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total value of $8,168,500.00. Following the transaction, the chief executive officer now owns 1,331,910 shares in the company, valued at $217,594,136.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 311,080 shares of company stock worth $53,540,590 in the last quarter. 2.00% of the stock is currently owned by company insiders.

Broadcom Stock Down 1.5 %

AVGO opened at $173.58 on Thursday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The company has a market capitalization of $810.72 billion, a PE ratio of 150.81, a P/E/G ratio of 2.07 and a beta of 1.17. The stock’s fifty day moving average is $171.55 and its 200-day moving average is $158.53. Broadcom Inc. has a one year low of $90.31 and a one year high of $186.42.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company had revenue of $13.07 billion for the quarter, compared to analysts’ expectations of $12.98 billion. During the same quarter in the prior year, the company earned $0.95 earnings per share. The firm’s revenue was up 47.3% on a year-over-year basis. On average, equities analysts predict that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 19th were issued a $0.53 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a yield of 1.22%. Broadcom’s dividend payout ratio is currently 184.19%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on AVGO shares. The Goldman Sachs Group increased their price target on Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, September 6th. Cantor Fitzgerald boosted their price target on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Benchmark reaffirmed a “buy” rating and issued a $210.00 price objective on shares of Broadcom in a research report on Friday, September 6th. Mizuho boosted their target price on shares of Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, JPMorgan Chase & Co. raised their price target on shares of Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Two research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $192.79.

Broadcom 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.