Harel Insurance Investments & Financial Services Ltd. Reduces Holdings in Broadcom Inc. $AVGO

Key Points

• Harel Insurance Investments trimmed its Broadcom stake by 1.0% in the fourth quarter, selling 4,762 shares and leaving it with 456,410 shares worth about $158.2 million.
• Broadcom continues to draw mostly bullish Wall Street sentiment, with analysts maintaining a Moderate Buy rating overall and an average price target of $436.13. Recent notes from firms like Citi, Morgan Stanley, and Wolfe Research highlighted upside tied to strong AI demand.
• The company reported strong quarterly results, including EPS of $2.05 versus estimates of $2.03 and revenue of $19.31 billion, up 29.5% year over year. Broadcom also paid a quarterly dividend of $0.65 per share and saw insider selling during the recent quarter.

Harel Insurance Investments & Financial Services Ltd. decreased its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 456,410 shares of the semiconductor manufacturer's stock after selling 4,762 shares during the quarter. Broadcom accounts for about 1.4% of Harel Insurance Investments & Financial Services Ltd.'s investment portfolio, making the stock its 21st largest position. Harel Insurance Investments & Financial Services Ltd.'s holdings in Broadcom were worth $158,170,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Pilgrim Partners Asia Pte Ltd raised its stake in shares of Broadcom by 25.0% in the fourth quarter. Pilgrim Partners Asia Pte Ltd now owns 250 shares of the semiconductor manufacturer's stock worth $87,000 after buying an additional 50 shares during the period. SBI Securities Co. Ltd. raised its stake in shares of Broadcom by 16.5% in the fourth quarter. SBI Securities Co. Ltd. now owns 70,740 shares of the semiconductor manufacturer's stock worth $24,483,000 after buying an additional 10,014 shares during the period. Garner Asset Management Corp raised its stake in shares of Broadcom by 4.1% in the fourth quarter. Garner Asset Management Corp now owns 15,386 shares of the semiconductor manufacturer's stock worth $5,325,000 after buying an additional 609 shares during the period. Liberty Atlantic Advisors LLC bought a new position in shares of Broadcom in the fourth quarter worth about $270,000. Finally, Cresta Advisors Ltd. bought a new position in shares of Broadcom in the fourth quarter worth about $66,000. Institutional investors own 76.43% of the company's stock.

Wall Street Analysts Forecast Growth

AVGO has been the topic of several recent research reports. Benchmark reaffirmed a "buy" rating and issued a $485.00 price objective on shares of Broadcom in a research note on Thursday, March 5th. Seaport Research Partners reaffirmed a "neutral" rating on shares of Broadcom in a research note on Wednesday, April 8th. Morgan Stanley raised their price objective on Broadcom from $462.00 to $470.00 and gave the stock an "overweight" rating in a research note on Friday, March 6th. Wolfe Research raised Broadcom from a "peer perform" rating to an "outperform" rating and set a $400.00 price objective on the stock in a research note on Friday, January 30th. Finally, Citigroup reiterated a "buy" rating and set a $500.00 target price (up from $475.00) on shares of Broadcom in a research report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $436.13.

Broadcom Stock Performance

NASDAQ AVGO opened at $419.30 on Wednesday. The stock has a market capitalization of $1.99 trillion, a PE ratio of 81.89, a P/E/G ratio of 0.89 and a beta of 1.43. The business has a 50 day simple moving average of $358.98 and a two-hundred day simple moving average of $353.01. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.90 and a quick ratio of 1.73. Broadcom Inc. has a 1-year low of $221.60 and a 1-year high of $437.68.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 EPS for the quarter, topping analysts' consensus estimates of $2.03 by $0.02. The firm had revenue of $19.31 billion during the quarter, compared to analysts' expectations of $19.10 billion. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The company's quarterly revenue was up 29.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.60 EPS. On average, research analysts predict that Broadcom Inc. will post 9.95 EPS for the current fiscal year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 23rd were paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, March 23rd. Broadcom's dividend payout ratio (DPR) is currently 50.78%.

Insider Activity

In other Broadcom news, Director Gayla J. Delly sold 1,000 shares of Broadcom stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $358.31, for a total transaction of $358,310.00. Following the completion of the sale, the director directly owned 32,352 shares of the company's stock, valued at $11,592,045.12. The trade was a 3.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider S. Ram Velaga sold 8,000 shares of Broadcom stock in a transaction on Friday, April 10th. The shares were sold at an average price of $370.52, for a total value of $2,964,160.00. Following the sale, the insider directly owned 57,932 shares of the company's stock, valued at approximately $21,464,964.64. This trade represents a 12.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 324,282 shares of company stock worth $106,425,249 in the last three months. Corporate insiders own 1.90% of the company's stock.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Citi raised its price target on Broadcom to $500 from $475 and kept a Buy rating, citing strong AI demand and expectations for another strong quarter. Citi Raises Broadcom Price Target to $500: AI Demand Sets Up Another Big April Quarter
• Positive Sentiment: Other Wall Street coverage also pointed to continued upside for Broadcom, reflecting optimism around its AI infrastructure exposure and earnings outlook. Wall Street sets Broadcom (AVGO) stock price for the next 12 months
• Positive Sentiment: Zacks highlighted Broadcom’s strong earnings-surprise history and said the company appears well-positioned to beat estimates again in its next report. Will Broadcom Inc. (AVGO) Beat Estimates Again in Its Next Earnings Report?
• Neutral Sentiment: Broadcom’s latest stock move also appears tied to a recent run-up, with one article saying investors were taking profits after a large AI-driven rally rather than reacting to a fundamental deterioration. Why analysts are bullish on Broadcom stock despite a 4% fall today?
• Neutral Sentiment: Several hedge-fund and institutional filings showed mixed activity in Broadcom, with some firms trimming holdings while Mirova US LLC added shares; these moves are notable but not necessarily a direct signal on the company’s fundamentals. PRIMECAP Management Co trims Broadcom stake by 12,410 shares Cincinnati Specialty Underwriters slashes Broadcom stake by 207K shares Mirova US LLC Boosts Broadcom Stake by 183,850 Shares

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.

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