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

Clal Insurance Enterprises Holdings Ltd boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 900.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,500 shares of the semiconductor manufacturer's stock after purchasing an additional 7,650 shares during the period. Clal Insurance Enterprises Holdings Ltd's holdings in Broadcom were worth $1,466,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Stonebrook Private Inc. boosted its position in shares of Broadcom by 839.0% in the 3rd quarter. Stonebrook Private Inc. now owns 43,458 shares of the semiconductor manufacturer's stock worth $7,496,000 after purchasing an additional 38,830 shares during the last quarter. Financial Council LLC boosted its position in Broadcom by 900.0% during the third quarter. Financial Council LLC now owns 1,860 shares of the semiconductor manufacturer's stock valued at $321,000 after purchasing an additional 1,674 shares during the last quarter. Nwam LLC raised its position in Broadcom by 1,933.5% during the third quarter. Nwam LLC now owns 91,326 shares of the semiconductor manufacturer's stock worth $15,754,000 after acquiring an additional 86,835 shares in the last quarter. Meridian Wealth Management LLC lifted its stake in Broadcom by 866.1% in the 3rd quarter. Meridian Wealth Management LLC now owns 65,335 shares of the semiconductor manufacturer's stock valued at $11,270,000 after purchasing an additional 58,572 shares during the last quarter. Finally, Studio Investment Management LLC boosted its stake in shares of Broadcom by 854.2% during the 3rd quarter. Studio Investment Management LLC now owns 23,617 shares of the semiconductor manufacturer's stock worth $4,074,000 after acquiring an additional 21,142 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Stock Up 0.4 %

Shares of Broadcom stock traded up $0.59 during trading on Monday, hitting $164.82. 26,805,504 shares of the stock were exchanged, compared to its average volume of 29,284,316. The stock has a market cap of $769.80 billion, a price-to-earnings ratio of 142.10, a price-to-earnings-growth ratio of 1.93 and a beta of 1.17. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The firm's 50-day moving average price is $173.70 and its 200 day moving average price is $160.62. Broadcom Inc. has a 12-month low of $90.31 and a 12-month high of $186.42.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping the consensus estimate of $1.20 by $0.04. The business had revenue of $13.07 billion during the quarter, compared to analysts' expectations of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company's quarterly revenue was up 47.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.95 earnings per share. As a group, analysts forecast that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were given a $0.53 dividend. This is an increase from Broadcom's previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.29%. The ex-dividend date of this dividend was Thursday, September 19th. Broadcom's dividend payout ratio is currently 184.19%.

Insider Activity

In other Broadcom news, insider Charlie B. Kawwas sold 25,200 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the transaction, the insider now owns 753,280 shares of the company's stock, valued at $126,754,425.60. This trade represents a 3.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Hock E. Tan sold 150,000 shares of the business's stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $172.94, for a total transaction of $25,941,000.00. Following the transaction, the chief executive officer now directly owns 1,181,910 shares of the company's stock, valued at approximately $204,399,515.40. This trade represents a 11.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock valued at $53,540,590 over the last 90 days. Insiders own 2.00% of the company's stock.

Wall Street Analyst Weigh In

AVGO has been the topic of a number of recent research reports. Truist Financial increased their target price on Broadcom from $204.00 to $205.00 and gave the stock a "buy" rating in a research note on Tuesday, October 8th. Mizuho upped their target price on Broadcom from $190.00 to $220.00 and gave the stock an "outperform" rating in a report on Monday, October 14th. JPMorgan Chase & Co. increased their price objective on Broadcom from $200.00 to $210.00 and gave the company an "overweight" rating in a report on Friday, September 6th. TD Cowen upgraded Broadcom to a "strong-buy" rating in a report on Monday, September 16th. Finally, The Goldman Sachs Group boosted their price objective on Broadcom from $185.00 to $190.00 and gave the company a "buy" rating in a report on Friday, September 6th. Two investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Broadcom has a consensus rating of "Moderate Buy" and an average price target of $195.96.

Broadcom 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.