Clal Insurance Enterprises Holdings Ltd raised its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 2,709.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 198,939 shares of the semiconductor manufacturer's stock after buying an additional 191,857 shares during the period. Clal Insurance Enterprises Holdings Ltd's holdings in Broadcom were worth $33,308,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the stock. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Broadcom during the 1st quarter valued at about $25,000. Cheviot Value Management LLC bought a new position in shares of Broadcom during the 1st quarter valued at about $25,000. Inlight Wealth Management LLC bought a new position in shares of Broadcom during the 1st quarter valued at about $26,000. Sunbeam Capital Management LLC bought a new position in shares of Broadcom during the 4th quarter valued at about $28,000. Finally, Vermillion Wealth Management Inc. bought a new position in shares of Broadcom during the 4th quarter valued at about $30,000. Institutional investors and hedge funds own 76.43% of the company's stock.
Insider Transactions at Broadcom
In other news, Director Gayla J. Delly sold 3,000 shares of Broadcom stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $265.13, for a total value of $795,390.00. Following the transaction, the director owned 33,352 shares of the company's stock, valued at $8,842,615.76. This trade represents a 8.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Henry Samueli sold 473,898 shares of Broadcom stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the completion of the transaction, the director directly owned 38,188,575 shares in the company, valued at approximately $10,132,574,604.75. This represents a 1.23% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 830,516 shares of company stock valued at $217,224,641. Insiders own 2.00% of the company's stock.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on AVGO shares. Oppenheimer raised 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. Wall Street Zen lowered shares of Broadcom from a "buy" rating to a "hold" rating in a research report on Saturday. Truist Financial set a $295.00 target price on shares of Broadcom and gave the stock a "buy" rating in a report on Friday, June 6th. JPMorgan Chase & Co. raised their target price on shares of Broadcom from $250.00 to $325.00 and gave the stock an "overweight" rating in a report on Friday, June 6th. Finally, The Goldman Sachs Group began coverage on shares of Broadcom in a report on Thursday, July 10th. They issued a "buy" rating and a $315.00 target price for the company. Two research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $294.92.
Read Our Latest Stock Report on Broadcom
Broadcom Price Performance
NASDAQ AVGO opened at $303.90 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $1.43 trillion, a PE ratio of 113.82, a price-to-earnings-growth ratio of 2.17 and a beta of 1.15. The company has a 50 day moving average price of $273.98 and a two-hundred day moving average price of $227.04. Broadcom Inc. has a 12-month low of $134.90 and a 12-month high of $310.34.
Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.57 by $0.01. The firm had revenue of $15 billion during the quarter, compared to analysts' expectations of $14.98 billion. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The company's revenue was up 20.2% compared to the same quarter last year. During the same period in the previous year, the company earned $10.96 earnings per share. As a group, equities analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal 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 paid a $0.59 dividend. The ex-dividend date was Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a yield of 0.8%. Broadcom's payout ratio is 88.39%.
Broadcom Profile
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc. (NASDAQ:AVGO - Free Report).

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