Agur Provident & Training Funds Management Ltd. Purchases Shares of 22,200 Broadcom Inc. $AVGO

Key Points

• Agur Provident & Training Funds Management acquired 22,200 Broadcom shares worth approximately $7.9 million, making Broadcom 1.9% of its portfolio. Institutional investors collectively own 76.43% of the company.
• Broadcom reported quarterly earnings of $3.32 per share, beating estimates by $0.10, while revenue rose 85.5% year over year to $29.59 billion. The company also declared a quarterly dividend of $0.65 per share.
• Wall Street maintains a bullish outlook, with a “Moderate Buy” consensus rating and an average price target of $509.04, although valuation, macroeconomic conditions, customer concentration and potential VMware-related risks remain concerns.

Agur Provident & Training Funds Management Ltd. acquired a new stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 22,200 shares of the semiconductor manufacturer's stock, valued at approximately $7,891,000. Broadcom accounts for 1.9% of Agur Provident & Training Funds Management Ltd.'s investment portfolio, making the stock its 19th largest holding.

Several other large investors also recently made changes to their positions in the company. Cornerstone Financial Management LLC lifted its stake in shares of Broadcom by 10.7% in the second quarter. Cornerstone Financial Management LLC now owns 1,435 shares of the semiconductor manufacturer's stock valued at $542,000 after buying an additional 139 shares in the last quarter. Formuepleje A S raised its holdings in shares of Broadcom by 19.5% in the 2nd quarter. Formuepleje A S now owns 107,017 shares of the semiconductor manufacturer's stock worth $40,426,000 after acquiring an additional 17,497 shares during the last quarter. Principia Wealth Advisory LLC raised its holdings in shares of Broadcom by 34.5% in the 2nd quarter. Principia Wealth Advisory LLC now owns 425 shares of the semiconductor manufacturer's stock worth $161,000 after acquiring an additional 109 shares during the last quarter. Amundi lifted its position in Broadcom by 2.6% in the 2nd quarter. Amundi now owns 26,729,788 shares of the semiconductor manufacturer's stock valued at $10,097,094,000 after acquiring an additional 664,902 shares in the last quarter. Finally, Wellington Grp LLC boosted its stake in Broadcom by 12.5% during the 2nd quarter. Wellington Grp LLC now owns 10,876 shares of the semiconductor manufacturer's stock valued at $4,108,000 after purchasing an additional 1,206 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Trading Up 0.1%

Shares of Broadcom stock opened at $339.51 on Thursday. The firm has a market cap of $1.62 trillion, a PE ratio of 43.36 and a beta of 1.44. Broadcom Inc. has a 1 year low of $289.96 and a 1 year high of $495.00. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.29. The stock has a fifty day moving average price of $380.83 and a 200-day moving average price of $378.97.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share for the quarter, beating the consensus estimate of $3.22 by $0.10. Broadcom had a net margin of 42.94% and a return on equity of 48.33%. The company had revenue of $29.59 billion during the quarter, compared to analyst estimates of $29.24 billion. During the same quarter in the prior year, the business earned $1.69 earnings per share. The firm's revenue for the quarter was up 85.5% on a year-over-year basis. Equities research analysts anticipate that Broadcom Inc. will post 10.36 EPS for the current year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Monday, September 21st. Broadcom's payout ratio is presently 33.21%.

Wall Street Analysts Forecast Growth

AVGO has been the subject of several analyst reports. Jefferies Financial Group assumed coverage on Broadcom in a research note on Thursday, September 3rd. They issued a "buy" rating for the company. Citigroup reaffirmed a "buy" rating and set a $515.00 target price (up from $500.00) on shares of Broadcom in a research report on Friday, September 4th. Zacks Research lowered Broadcom from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 21st. Piper Sandler initiated coverage on Broadcom in a research report on Wednesday, September 9th. They issued an "overweight" rating and a $460.00 price target for the company. Finally, Bank of America lifted their price objective on shares of Broadcom from $450.00 to $530.00 and gave the stock a "buy" rating in a report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $509.04.

Insider Activity

In other news, insider Mark Brazeal sold 25,000 shares of the firm's stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $401.33, for a total transaction of $10,033,250.00. Following the completion of the sale, the insider owned 194,989 shares in the company, valued at $78,254,935.37. This trade represents a 11.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Justine Page sold 1,602 shares of Broadcom stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $373.86, for a total transaction of $598,923.72. Following the completion of the sale, the director directly owned 17,426 shares in the company, valued at $6,514,884.36. This trade represents a 8.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 53,492 shares of company stock valued at $20,840,292 in the last three months. Company insiders own 1.90% of the company's stock.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: CEO Hock Tan said Broadcom’s AI revenue targets have not changed despite calls from Anthropic and OpenAI executives to slow development of increasingly powerful models. The comments helped reinforce management’s confidence in sustained demand. Broadcom CEO delivers blunt verdict on AI’s biggest debate right now
• Positive Sentiment: Analysts and bullish commentators point to Broadcom’s 221% year-over-year AI revenue growth, strong guidance and potential for significant upside following the recent selloff. Several reports argue that the stock’s valuation is attractive relative to its growth and custom-chip competitors. Wall Street Sees 56% Upside in Broadcom After Summer Selloff
• Positive Sentiment: Broadcom’s reported supply constraint may be more significant than demand weakness. Piper Sandler estimated that demand for the company’s AI inference ASICs is roughly twice available supply and assigned an Overweight rating with a $460 price target. Broadcom’s Real Constraint Isn’t Demand. It’s Supply.
• Positive Sentiment: Recent coverage also cites new fourth-quarter revenue guidance, share-repurchase activity and continued dividend support as potential catalysts for shareholder returns. Broadcom Could Be 47% Below Fair Value
• Neutral Sentiment: Commentary remains divided: Broadcom’s earnings growth and AI exposure are viewed favorably, while valuation, macroeconomic conditions and customer concentration remain important risks for investors. Bull v. Bear: AVGO Shows Strong Earnings Growth, Macro Risks Weigh on Stock
• Negative Sentiment: Shares declined as Anthropic’s CEO called for a pause in rapidly scaling AI systems and OpenAI’s leadership expressed similar caution. Investors reassessed whether slower AI model development could reduce future orders for chips, networking equipment and custom accelerators. Broadcom Shares Fell As Slower AI Development Raised Demand Concerns
• Negative Sentiment: Bearish analysis highlights potential margin pressure, financing needs and regulatory concerns related to VMware, adding uncertainty despite Broadcom’s strong AI outlook. Broadcom’s strong AI growth faces margin, financing risks

About Broadcom

Broadcom Inc NASDAQ: AVGO designs, develops and supplies semiconductor and infrastructure software products for businesses, telecommunications providers and other organizations worldwide. Its semiconductor portfolio includes networking and connectivity components, custom application-specific integrated circuits, broadband and wireless communications products, storage adapters, optical components, and industrial solutions.

The company also provides enterprise infrastructure software through businesses including VMware, which offers virtualization and private- and hybrid-cloud solutions; mainframe and enterprise software; and cybersecurity products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.