Broadcom Inc. $AVGO Shares Purchased by Meitav Investment House Ltd.

Meitav Investment House Ltd. raised its stake in Broadcom Inc. (NASDAQ:AVGO) by 52.7% during the 1st quarter, HoldingsChannel reports. The firm owned 369,171 shares of the semiconductor manufacturer’s stock after acquiring an additional 127,427 shares during the quarter. Broadcom accounts for about 1.2% of Meitav Investment House Ltd.’s portfolio, making the stock its 21st largest position. Meitav Investment House Ltd.’s holdings in Broadcom were worth $113,302,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. ROSS JOHNSON & Associates LLC raised its holdings in shares of Broadcom by 1,320.0% during the 4th quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 66 shares during the period. Networth Advisors LLC boosted its holdings in Broadcom by 546.2% in the 1st quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer’s stock worth $26,000 after acquiring an additional 71 shares during the period. SWAN Capital LLC boosted its holdings in Broadcom by 261.9% in the 4th quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock worth $26,000 after acquiring an additional 55 shares during the period. Miller Global Investments LLC acquired a new stake in Broadcom in the fourth quarter valued at approximately $31,000. Finally, Nvest Wealth Strategies Inc. purchased a new stake in shares of Broadcom during the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on AVGO. Erste Group Bank reissued a “hold” rating on shares of Broadcom in a research report on Tuesday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $525.00 price target on shares of Broadcom in a report on Thursday, June 4th. Susquehanna reaffirmed a “positive” rating and set a $490.00 price target (up from $450.00) on shares of Broadcom in a research note on Thursday, May 28th. DA Davidson boosted their price objective on shares of Broadcom from $375.00 to $400.00 and gave the stock a “neutral” rating in a report on Thursday, June 4th. Finally, Morgan Stanley set a $502.00 price objective on shares of Broadcom and gave the company an “overweight” rating in a research report on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and an average price target of $493.24.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s expanded Apple agreement, valued at more than $30 billion through 2031, strengthens visibility for revenue and highlights demand beyond AI chips. Why Broadcom Stock Rose Today
• Positive Sentiment: Analysts remain upbeat on Broadcom’s AI business, with Jefferies reiterating a Buy rating and a $550 price target as AI chip momentum improves. Broadcom’s (AVGO) AI Chip Momentum Keeps Wall Street Bullish
• Positive Sentiment: Broadcom is being viewed as a broader AI infrastructure winner because its networking products help connect large-scale AI systems, expanding the investment thesis beyond GPUs and custom chips. Broadcom stock’s latest catalyst targets Nvidia where it looks strongest
• Neutral Sentiment: Some coverage notes Broadcom’s near-$2 trillion market value and strong AI revenue growth, but also suggests much of the good news may already be reflected in the stock. Broadcom Is Less Than 5% From the $2 Trillion Club — and Apple Just Committed $30 Billion for More Chips
• Negative Sentiment: Erste Group downgraded Broadcom to Hold, citing valuation concerns, which may be limiting upside after the recent rally. Erste Group downgrades Broadcom to Hold citing valuation concerns

Broadcom Stock Down 0.3%

Shares of AVGO stock traded down $1.14 during mid-day trading on Friday, reaching $399.97. 14,579,242 shares of the company were exchanged, compared to its average volume of 26,802,910. Broadcom Inc. has a fifty-two week low of $269.58 and a fifty-two week high of $495.00. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24. The company has a market capitalization of $1.90 trillion, a P/E ratio of 66.66, a P/E/G ratio of 0.70 and a beta of 1.45. The business’s 50 day simple moving average is $405.29 and its 200 day simple moving average is $364.13.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.04. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The firm had revenue of $22.19 billion for the quarter, compared to analysts’ expectations of $22.13 billion. During the same period in the prior year, the company posted $1.58 earnings per share. The firm’s quarterly revenue was up 47.9% on a year-over-year basis. Research analysts predict that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were given a $0.65 dividend. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. Broadcom’s payout ratio is presently 43.33%.

Insider Activity at Broadcom

In other news, Director Justine Page sold 1,602 shares of the company’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $373.86, for a total value of $598,923.72. Following the sale, the director owned 17,426 shares in the company, valued at approximately $6,514,884.36. This represents a 8.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gayla J. Delly sold 1,890 shares of the stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $385.38, for a total transaction of $728,368.20. Following the transaction, the director directly owned 31,326 shares in the company, valued at $12,072,413.88. The trade was a 5.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 36,644 shares of company stock worth $13,982,964. Company insiders own 1.90% of the company’s stock.

Broadcom 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.