Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 41.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 216,338 shares of the semiconductor manufacturer's stock after acquiring an additional 63,924 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.'s holdings in Broadcom were worth $36,221,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of AVGO. Barnes Dennig Private Wealth Management LLC bought a new stake in Broadcom during the first quarter valued at approximately $25,000. Inlight Wealth Management LLC purchased a new position in shares of Broadcom during the 1st quarter worth $26,000. Sunbeam Capital Management LLC bought a new stake in shares of Broadcom during the 4th quarter valued at $28,000. Vermillion Wealth Management Inc. bought a new stake in shares of Broadcom during the 4th quarter valued at $30,000. Finally, Wood Tarver Financial Group LLC increased its stake in shares of Broadcom by 342.5% in the 1st quarter. Wood Tarver Financial Group LLC now owns 177 shares of the semiconductor manufacturer's stock worth $30,000 after purchasing an additional 137 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Broadcom Stock Down 1.1%

Shares of AVGO stock traded down $3.11 during mid-day trading on Friday, hitting $283.34. 15,006,524 shares of the stock traded hands, compared to its average volume of 27,811,473. Broadcom Inc. has a 52-week low of $128.50 and a 52-week high of $288.28. The stock has a market cap of $1.33 trillion, a P/E ratio of 106.12, a P/E/G ratio of 2.04 and a beta of 1.12. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98. The stock's fifty day moving average is $252.91 and its two-hundred day moving average is $219.98.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, topping 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 firm had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.98 billion. During the same quarter in the previous year, the company posted $10.96 earnings per share. The company's revenue was up 20.2% compared to the same quarter last year. Equities analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom announced that its board has authorized a share repurchase program on Monday, April 7th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to buy up to 1.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its shares are undervalued.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend was Friday, June 20th. Broadcom's payout ratio is presently 88.39%.

Insider Activity at Broadcom

In related news, Director Gayla J. Delly sold 3,000 shares of the business's stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $265.13, for a total transaction of $795,390.00. Following the completion of the transaction, the director directly owned 33,352 shares of the company's stock, valued at $8,842,615.76. The trade was a 8.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Hock E. Tan sold 40,000 shares of the company's stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $268.29, for a total value of $10,731,600.00. Following the sale, the chief executive officer owned 482,836 shares in the company, valued at approximately $129,540,070.44. This trade represents a 7.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 830,516 shares of company stock valued at $217,224,641 over the last 90 days. Corporate insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

AVGO has been the subject of a number of analyst reports. Susquehanna upped their price target on Broadcom from $280.00 to $300.00 and gave the stock a "positive" rating in a research report on Friday, June 6th. Erste Group Bank raised shares of Broadcom from a "hold" rating to a "buy" rating in a report on Thursday, June 5th. The Goldman Sachs Group assumed coverage on shares of Broadcom in a research note on Thursday, July 10th. They issued a "buy" rating and a $315.00 price objective for the company. Morgan Stanley raised their price objective on shares of Broadcom from $260.00 to $270.00 and gave the company an "overweight" rating in a research report on Friday, June 6th. Finally, Mizuho boosted their price objective on Broadcom from $315.00 to $320.00 and gave the company an "outperform" rating in a research report on Wednesday. One research analyst has rated the stock with a hold rating, twenty-seven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $292.08.

Broadcom Company 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.