Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD Takes $7.22 Million Position in Broadcom Inc. (NASDAQ:AVGO)

Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 31,083 shares of the semiconductor manufacturer's stock, valued at approximately $7,219,000. Broadcom makes up about 1.7% of Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD's investment portfolio, making the stock its 21st biggest position.

Other institutional investors also recently bought and sold shares of the company. Swedbank AB lifted its stake in Broadcom by 858.7% in the 3rd quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer's stock valued at $3,168,798,000 after buying an additional 16,453,718 shares in the last quarter. Howard Capital Management Group LLC increased its holdings in shares of Broadcom by 2,219.8% during the 3rd quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer's stock worth $524,000 after buying an additional 2,908 shares during the last quarter. Pettinga Financial Advisors LLC increased its holdings in Broadcom by 896.9% in the 3rd quarter. Pettinga Financial Advisors LLC now owns 2,911 shares of the semiconductor manufacturer's stock valued at $502,000 after purchasing an additional 2,619 shares in the last quarter. Impax Asset Management Group plc increased its holdings in Broadcom by 884.6% in the 3rd quarter. Impax Asset Management Group plc now owns 119,529 shares of the semiconductor manufacturer's stock valued at $20,619,000 after purchasing an additional 107,389 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Broadcom by 1,019.4% in the 3rd quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer's stock valued at $1,238,966,000 after purchasing an additional 6,540,800 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Performance

Shares of AVGO stock opened at $190.09 on Wednesday. The firm has a 50-day moving average of $220.42 and a 200-day moving average of $193.44. The company has a market cap of $893.79 billion, a P/E ratio of 155.05, a P/E/G ratio of 2.29 and a beta of 1.01. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88.

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Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.03. The company had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The firm's revenue for the quarter was up 51.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.98 earnings per share. Equities research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be given a dividend of $0.59 per share. The ex-dividend date is Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.24%. Broadcom's payout ratio is currently 113.46%.

Insider Activity at Broadcom

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the transaction, the director now owns 46,400 shares in the company, valued at $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Hock E. Tan sold 45,000 shares of the stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the transaction, the chief executive officer now owns 842,836 shares of the company's stock, valued at $202,246,926.56. This represents a 5.07 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AVGO. TD Cowen increased their price target on Broadcom from $210.00 to $240.00 and gave the company a "buy" rating in a report on Friday, December 13th. Cantor Fitzgerald restated an "overweight" rating and set a $300.00 target price on shares of Broadcom in a research note on Friday, March 7th. Rosenblatt Securities restated a "buy" rating and set a $250.00 target price on shares of Broadcom in a research note on Friday, March 7th. Citigroup raised their target price on Broadcom from $175.00 to $205.00 and gave the company a "buy" rating in a research note on Tuesday, December 10th. Finally, Benchmark restated a "buy" rating and set a $255.00 target price on shares of Broadcom in a research note on Friday, March 7th. Three research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $231.48.

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.

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