Broadcom Inc. $AVGO Shares Bought by Menora Mivtachim Holdings LTD.

Menora Mivtachim Holdings LTD. increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 25.3% during the second quarter, HoldingsChannel reports. The institutional investor owned 1,740,574 shares of the semiconductor manufacturer’s stock after buying an additional 351,500 shares during the quarter. Broadcom accounts for about 2.8% of Menora Mivtachim Holdings LTD.’s investment portfolio, making the stock its 8th largest holding. Menora Mivtachim Holdings LTD.’s holdings in Broadcom were worth $479,789,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently modified their holdings of the company. Sawyer & Company Inc raised its stake in Broadcom by 62.1% in the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 36 shares in the last quarter. Longfellow Investment Management Co. LLC acquired a new stake in Broadcom during the second quarter worth about $27,000. Legend Financial Advisors Inc. bought a new position in Broadcom in the 2nd quarter valued at about $28,000. LGT Financial Advisors LLC acquired a new stake in Broadcom in the second quarter valued at about $31,000. Finally, New England Capital Financial Advisors LLC bought a new position in Broadcom in the second quarter valued at about $31,000. 76.43% of the stock is currently owned by institutional investors.

Broadcom Stock Up 1.3%

Shares of AVGO opened at $406.29 on Wednesday. The stock’s 50-day moving average price is $359.78 and its two-hundred day moving average price is $315.15. Broadcom Inc. has a 12 month low of $138.10 and a 12 month high of $407.29. The company has a market capitalization of $1.92 trillion, a PE ratio of 103.65, a PEG ratio of 1.36 and a beta of 1.19. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86.

Wall Street Analyst Weigh In

AVGO has been the subject of a number of research reports. Piper Sandler raised their price target on shares of Broadcom from $315.00 to $375.00 and gave the company an “overweight” rating in a research note on Friday, September 5th. Macquarie started coverage on shares of Broadcom in a research note on Monday, September 15th. They issued an “outperform” rating and a $420.00 price objective for the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Broadcom in a research note on Monday. Sanford C. Bernstein increased their price target on Broadcom from $295.00 to $400.00 and gave the company an “outperform” rating in a research note on Friday, September 5th. Finally, TD Cowen boosted their price objective on Broadcom from $355.00 to $370.00 and gave the stock a “buy” rating in a research report on Friday, September 5th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $392.46.

Insiders Place Their Bets

In other Broadcom news, insider Charlie B. Kawwas sold 3,893 shares of the stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $347.82, for a total transaction of $1,354,063.26. Following the completion of the sale, the insider owned 25,295 shares of the company’s stock, valued at approximately $8,798,106.90. This represents a 13.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Hock E. Tan sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $339.58, for a total transaction of $33,958,000.00. Following the completion of the transaction, the chief executive officer owned 725,638 shares in the company, valued at $246,412,152.04. This trade represents a 12.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 837,433 shares of company stock valued at $303,900,352 over the last three months. Insiders own 2.00% of the company’s stock.

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.