Clal Insurance Enterprises Holdings Ltd Acquires 7,650 Shares of Broadcom Inc. (NASDAQ:AVGO)

Clal Insurance Enterprises Holdings Ltd increased its stake in Broadcom Inc. (NASDAQ:AVGO) by 900.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,500 shares of the semiconductor manufacturer’s stock after purchasing an additional 7,650 shares during the quarter. Clal Insurance Enterprises Holdings Ltd’s holdings in Broadcom were worth $1,466,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Lion Street Advisors LLC raised its position in shares of Broadcom by 1.9% during the 2nd quarter. Lion Street Advisors LLC now owns 324 shares of the semiconductor manufacturer’s stock worth $520,000 after buying an additional 6 shares in the last quarter. Optimum Investment Advisors lifted its position in Broadcom by 0.6% in the second quarter. Optimum Investment Advisors now owns 1,409 shares of the semiconductor manufacturer’s stock worth $2,262,000 after purchasing an additional 8 shares during the period. Anderson Hoagland & Co. boosted its stake in Broadcom by 0.3% during the 2nd quarter. Anderson Hoagland & Co. now owns 2,667 shares of the semiconductor manufacturer’s stock valued at $4,623,000 after purchasing an additional 9 shares in the last quarter. Wealth Group Ltd lifted its holdings in Broadcom by 6.0% in the 2nd quarter. Wealth Group Ltd now owns 176 shares of the semiconductor manufacturer’s stock valued at $283,000 after acquiring an additional 10 shares during the last quarter. Finally, Canandaigua National Bank & Trust Co. boosted its position in shares of Broadcom by 1.4% during the 2nd quarter. Canandaigua National Bank & Trust Co. now owns 723 shares of the semiconductor manufacturer’s stock valued at $1,161,000 after purchasing an additional 10 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Insider Activity

In other news, CEO Hock E. Tan sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the transaction, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. This trade represents a 3.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Charlie B. Kawwas sold 25,200 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $168.27, for a total value of $4,240,404.00. Following the sale, the insider now owns 753,280 shares of the company’s stock, valued at $126,754,425.60. This represents a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Morgan Stanley lifted their price target on Broadcom from $176.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Truist Financial raised their price objective on shares of Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Cantor Fitzgerald increased their target price on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. TD Cowen upgraded shares of Broadcom to a “strong-buy” rating in a report on Monday, September 16th. Finally, JPMorgan Chase & Co. increased their target price on shares of Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Two analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $195.96.

Broadcom Stock Up 0.2 %

Shares of NASDAQ AVGO opened at $164.23 on Monday. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The business has a 50-day moving average of $173.70 and a 200-day moving average of $160.62. The firm has a market capitalization of $767.05 billion, a price-to-earnings ratio of 142.81, a PEG ratio of 1.93 and a beta of 1.17. Broadcom Inc. has a 12 month low of $90.31 and a 12 month high of $186.42.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. During the same quarter in the prior year, the firm earned $0.95 EPS. The business’s revenue for the quarter was up 47.3% compared to the same quarter last year. Sell-side analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were issued a $0.53 dividend. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date was Thursday, September 19th. Broadcom’s dividend payout ratio is presently 184.35%.

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.