Migdal Insurance & Financial Holdings Ltd. Acquires 183,530 Shares of Broadcom Inc. $AVGO

Migdal Insurance & Financial Holdings Ltd. grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 85.6% during the third quarter, Holdings Channel.com reports. The firm owned 397,970 shares of the semiconductor manufacturer’s stock after acquiring an additional 183,530 shares during the quarter. Broadcom accounts for about 1.4% of Migdal Insurance & Financial Holdings Ltd.’s portfolio, making the stock its 23rd biggest position. Migdal Insurance & Financial Holdings Ltd.’s holdings in Broadcom were worth $131,288,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the business. Brighton Jones LLC boosted its position in Broadcom by 21.8% during the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock valued at $6,882,000 after purchasing an additional 5,322 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in shares of Broadcom by 10.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock worth $1,854,000 after purchasing an additional 756 shares in the last quarter. United Bank boosted its holdings in shares of Broadcom by 76.5% in the 1st quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock valued at $392,000 after buying an additional 1,014 shares during the last quarter. Sivia Capital Partners LLC grew its stake in shares of Broadcom by 10.1% in the second quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer’s stock valued at $3,499,000 after buying an additional 1,160 shares in the last quarter. Finally, Kooman & Associates acquired a new position in Broadcom during the second quarter worth $200,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on AVGO shares. The Goldman Sachs Group reiterated a “buy” rating and issued a $450.00 price target on shares of Broadcom in a research note on Monday, January 5th. Wells Fargo & Company upgraded shares of Broadcom from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $410.00 to $430.00 in a research note on Thursday, January 15th. KeyCorp reiterated an “overweight” rating and set a $500.00 price target (up previously from $460.00) on shares of Broadcom in a report on Friday, December 12th. Susquehanna restated a “positive” rating and issued a $450.00 price objective (up previously from $400.00) on shares of Broadcom in a research note on Thursday, December 4th. Finally, Mizuho set a $480.00 price objective on Broadcom and gave the company an “outperform” rating in a research report on Friday, January 9th. Two analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $438.61.

Broadcom Stock Performance

NASDAQ:AVGO opened at $324.85 on Tuesday. The stock has a 50 day simple moving average of $356.84 and a 200 day simple moving average of $336.51. The stock has a market cap of $1.54 trillion, a P/E ratio of 68.25, a PEG ratio of 1.06 and a beta of 1.21. Broadcom Inc. has a 1-year low of $138.10 and a 1-year high of $414.61. The company has a current ratio of 1.71, a quick ratio of 1.58 and a debt-to-equity ratio of 0.76.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.08. Broadcom had a return on equity of 37.45% and a net margin of 36.20%.The firm had revenue of $18.02 billion for the quarter, compared to analysts’ expectations of $17.46 billion. During the same quarter last year, the business earned $1.42 EPS. The company’s quarterly revenue was up 28.2% compared to the same quarter last year. Research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 22nd were paid a $0.65 dividend. This is a positive change from Broadcom’s previous quarterly dividend of $0.59. The ex-dividend date was Monday, December 22nd. This represents a $2.60 annualized dividend and a yield of 0.8%. Broadcom’s dividend payout ratio is presently 54.62%.

Insider Transactions at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of the stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $347.12, for a total transaction of $10,413,600.00. Following the transaction, the insider owned 210,573 shares in the company, valued at $73,094,099.76. This represents a 12.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Charlie B. Kawwas sold 1,928 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $327.80, for a total transaction of $631,998.40. Following the transaction, the insider directly owned 23,582 shares in the company, valued at $7,730,179.60. This represents a 7.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 779,901 shares of company stock worth $284,069,237. Company insiders own 2.00% of the company’s stock.

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.