Migdal Insurance & Financial Holdings Ltd. Sells 77,745 Shares of Broadcom Inc. (NASDAQ:AVGO)

Migdal Insurance & Financial Holdings Ltd. decreased its position in Broadcom Inc. (NASDAQ:AVGO) by 98.8% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 929 shares of the semiconductor manufacturer’s stock after selling 77,745 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Broadcom were worth $1,042,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Alpha Omega Wealth Management LLC raised its holdings in Broadcom by 66.6% during the 4th quarter. Alpha Omega Wealth Management LLC now owns 4,261 shares of the semiconductor manufacturer’s stock valued at $4,756,000 after buying an additional 1,704 shares during the last quarter. KLCM Advisors Inc. purchased a new position in shares of Broadcom in the fourth quarter valued at about $753,000. Rakuten Securities Inc. bought a new position in shares of Broadcom during the fourth quarter valued at about $1,351,000. Slow Capital Inc. boosted its holdings in shares of Broadcom by 2.4% during the fourth quarter. Slow Capital Inc. now owns 23,509 shares of the semiconductor manufacturer’s stock worth $26,242,000 after purchasing an additional 551 shares during the period. Finally, Prosperity Wealth Management Inc. bought a new stake in shares of Broadcom in the fourth quarter worth about $305,000. Institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

Shares of AVGO opened at $1,282.63 on Thursday. The company has a market capitalization of $594.40 billion, a P/E ratio of 47.54, a price-to-earnings-growth ratio of 2.71 and a beta of 1.25. Broadcom Inc. has a twelve month low of $601.29 and a twelve month high of $1,438.17. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. The firm has a 50 day moving average of $1,307.00 and a 200 day moving average of $1,115.19.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, topping the consensus estimate of $8.95 by $2.04. The firm had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The company’s revenue was up 34.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $9.83 earnings per share. As a group, equities research analysts anticipate that Broadcom Inc. will post 35.88 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid a dividend of $5.25 per share. This represents a $21.00 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio is currently 77.84%.

Wall Street Analyst Weigh In

AVGO has been the subject of a number of recent analyst reports. TD Cowen raised Broadcom from a “market perform” rating to an “outperform” rating and upped their price target for the company from $1,400.00 to $1,500.00 in a research report on Thursday, March 21st. Barclays upped their price objective on shares of Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a report on Wednesday. Cantor Fitzgerald raised their target price on shares of Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a research report on Monday, March 4th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $1,700.00 price target on shares of Broadcom in a research report on Thursday, March 21st. Finally, Benchmark restated a “buy” rating and issued a $1,720.00 target price on shares of Broadcom in a research note on Thursday, March 21st. Three research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,285.41.

Insider Activity

In other news, insider Charlie B. Kawwas sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the completion of the transaction, the insider now directly owns 16,575 shares of the company’s stock, valued at $22,276,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Broadcom news, insider Mark David Brazeal sold 2,500 shares of the stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $1,318.97, for a total value of $3,297,425.00. Following the transaction, the insider now owns 46,974 shares of the company’s stock, valued at $61,957,296.78. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Charlie B. Kawwas sold 5,000 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the sale, the insider now owns 16,575 shares of the company’s stock, valued at $22,276,800. The disclosure for this sale can be found here. Insiders have sold a total of 29,920 shares of company stock valued at $40,306,667 in the last 90 days. 2.00% of the stock is currently owned by insiders.

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.