Agur Provident & Training Funds Management Ltd. Purchases 19,980 Shares of Broadcom Inc. (NASDAQ:AVGO)

Key Points

• Agur Provident & Training Funds Management Ltd. significantly increased its holdings in Broadcom Inc. by 900%, acquiring almost 20,000 additional shares, bringing their total to 22,200 shares worth approximately $3.7 million.
• Broadcom's stock has received several positive ratings upgrades from analysts, with target prices ranging from $255.00 to $305.00, and an overall average rating of "Buy".
• The company reported a 20.2% year-over-year revenue increase, with earnings per share of $1.58 for the recent quarter, surpassing analysts’ estimates by $0.01.

Agur Provident & Training Funds Management Ltd. grew its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 900.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,200 shares of the semiconductor manufacturer's stock after purchasing an additional 19,980 shares during the quarter. Broadcom makes up about 1.5% of Agur Provident & Training Funds Management Ltd.'s investment portfolio, making the stock its 17th largest holding. Agur Provident & Training Funds Management Ltd.'s holdings in Broadcom were worth $3,716,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Banco Bilbao Vizcaya Argentaria S.A. increased its holdings in Broadcom by 3.8% in the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer's stock valued at $120,070,000 after acquiring an additional 18,845 shares during the last quarter. PARUS FINANCE UK Ltd boosted its holdings in shares of Broadcom by 175.3% during the 1st quarter. PARUS FINANCE UK Ltd now owns 100,578 shares of the semiconductor manufacturer's stock valued at $16,840,000 after purchasing an additional 64,038 shares during the last quarter. Nebula Research & Development LLC grew its position in shares of Broadcom by 1,100.8% during the fourth quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer's stock valued at $3,642,000 after purchasing an additional 14,399 shares in the last quarter. Keener Financial Planning LLC increased its holdings in shares of Broadcom by 34.8% in the first quarter. Keener Financial Planning LLC now owns 890 shares of the semiconductor manufacturer's stock worth $149,000 after purchasing an additional 230 shares during the last quarter. Finally, Diversify Wealth Management LLC lifted its position in shares of Broadcom by 5.6% in the first quarter. Diversify Wealth Management LLC now owns 38,016 shares of the semiconductor manufacturer's stock worth $6,365,000 after buying an additional 2,016 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on AVGO shares. UBS Group raised their price target on Broadcom from $270.00 to $290.00 and gave the company a "buy" rating in a report on Friday, June 6th. Wells Fargo & Company raised their target price on shares of Broadcom from $230.00 to $255.00 and gave the company an "equal weight" rating in a report on Friday, June 6th. Erste Group Bank upgraded shares of Broadcom from a "hold" rating to a "buy" rating in a research report on Thursday, June 5th. Oppenheimer increased their price objective on shares of Broadcom from $265.00 to $305.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Finally, Evercore ISI reissued an "outperform" rating and issued a $304.00 price objective (up from $267.00) on shares of Broadcom in a research note on Friday, June 6th. One analyst has rated the stock with a hold rating, twenty-seven have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, Broadcom currently has an average rating of "Buy" and an average target price of $294.92.

Broadcom Stock Performance

Broadcom stock opened at $303.76 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.98 and a current ratio of 1.08. The company has a market capitalization of $1.43 trillion, a PE ratio of 113.77, a P/E/G ratio of 2.15 and a beta of 1.15. The company has a 50 day moving average price of $271.57 and a 200-day moving average price of $226.37. Broadcom Inc. has a fifty-two week low of $134.90 and a fifty-two week high of $310.34.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, beating analysts' consensus estimates of $1.57 by $0.01. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The business had revenue of $15 billion during the quarter, compared to analyst estimates of $14.98 billion. During the same period in the previous year, the company posted $10.96 EPS. Broadcom's revenue was up 20.2% on a year-over-year basis. As a group, equities analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.8%. The ex-dividend date was Friday, June 20th. Broadcom's dividend payout ratio is presently 88.39%.

Insider Activity at Broadcom

In related news, CEO Hock E. Tan sold 117,758 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $252.91, for a total value of $29,782,175.78. Following the completion of the transaction, the chief executive officer owned 1,014,152 shares of the company's stock, valued at $256,489,182.32. The trade was a 10.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mark David Brazeal sold 50,000 shares of the company's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $253.28, for a total value of $12,664,000.00. Following the sale, the insider owned 415,956 shares of the company's stock, valued at approximately $105,353,335.68. This represents a 10.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold 830,516 shares of company stock worth $217,224,641 over the last quarter. Corporate insiders own 2.00% of the company's stock.

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.

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