Migdal Insurance & Financial Holdings Ltd. Acquires Shares of 10,600 Broadcom Limited (AVGO)
Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Broadcom Limited (NASDAQ:AVGO) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 10,600 shares of the semiconductor manufacturer’s stock, valued at approximately $2,571,000.
Several other institutional investors and hedge funds have also added to or reduced their stakes in AVGO. IHT Wealth Management LLC grew its stake in shares of Broadcom Limited by 1.4% during the first quarter. IHT Wealth Management LLC now owns 1,094 shares of the semiconductor manufacturer’s stock valued at $238,000 after buying an additional 15 shares during the last quarter. Covington Capital Management grew its stake in shares of Broadcom Limited by 31.4% during the first quarter. Covington Capital Management now owns 5,358 shares of the semiconductor manufacturer’s stock valued at $1,173,000 after buying an additional 1,279 shares during the last quarter. Archford Capital Strategies LLC grew its stake in shares of Broadcom Limited by 45.4% during the first quarter. Archford Capital Strategies LLC now owns 538 shares of the semiconductor manufacturer’s stock valued at $118,000 after buying an additional 168 shares during the last quarter. Bfsg LLC bought a new position in shares of Broadcom Limited during the first quarter valued at approximately $206,000. Finally, FNY Managed Accounts LLC bought a new position in shares of Broadcom Limited during the first quarter valued at approximately $100,000. 89.90% of the stock is currently owned by hedge funds and other institutional investors.
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Several brokerages recently issued reports on AVGO. Vetr raised Broadcom Limited from a “hold” rating to a “buy” rating and set a $261.95 price objective on the stock in a research note on Monday, August 28th. Royal Bank Of Canada reissued a “buy” rating and issued a $285.00 price objective (up previously from $270.00) on shares of Broadcom Limited in a research note on Saturday, August 26th. B. Riley reissued a “buy” rating and issued a $305.00 price objective on shares of Broadcom Limited in a research note on Thursday, August 31st. BidaskClub cut Broadcom Limited from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 11th. Finally, Zacks Investment Research lowered Broadcom Limited from a “buy” rating to a “hold” rating in a report on Thursday, August 17th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, thirty-one have given a buy rating and three have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $283.48.
Shares of Broadcom Limited (NASDAQ AVGO) traded down $0.68 during trading on Friday, reaching $264.96. 2,033,800 shares of the company were exchanged, compared to its average volume of 2,752,515. The stock has a market cap of $108,375.66, a price-to-earnings ratio of 20.08, a PEG ratio of 1.31 and a beta of 1.05. Broadcom Limited has a 1 year low of $160.62 and a 1 year high of $281.80. The company has a debt-to-equity ratio of 0.60, a current ratio of 4.48 and a quick ratio of 3.84.
Broadcom Limited (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.03 by $0.07. The firm had revenue of $4.47 billion for the quarter, compared to analyst estimates of $4.46 billion. Broadcom Limited had a net margin of 3.12% and a return on equity of 26.82%. Broadcom Limited’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same period last year, the company posted $2.89 EPS. equities analysts anticipate that Broadcom Limited will post 13.91 EPS for the current fiscal year.
In related news, SVP Charlie B. Kawwas sold 1,788 shares of the firm’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $247.28, for a total value of $442,136.64. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Bryan Ingram sold 30,000 shares of the firm’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $244.01, for a total transaction of $7,320,300.00. The disclosure for this sale can be found here. Insiders sold a total of 81,788 shares of company stock worth $20,054,837 over the last ninety days. 3.60% of the stock is currently owned by corporate insiders.
Broadcom Limited Company Profile
Broadcom Limited is a designer, developer and global supplier of a range of semiconductor devices with a focus on digital and mixed signal complementary metal oxide semiconductor (CMOS)-based devices and analog III-V based products. The Company operates through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.
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