Harel Insurance Investments & Financial Services Ltd. Buys 280,124 Shares of Broadcom Inc. $AVGO

Harel Insurance Investments & Financial Services Ltd. grew its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 61.4% during the first quarter, Holdings Channel.com reports. The fund owned 736,534 shares of the semiconductor manufacturer’s stock after purchasing an additional 280,124 shares during the quarter. Broadcom comprises 1.5% of Harel Insurance Investments & Financial Services Ltd.’s portfolio, making the stock its 20th biggest holding. Harel Insurance Investments & Financial Services Ltd.’s holdings in Broadcom were worth $227,960,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sovran Advisors LLC raised its holdings in shares of Broadcom by 121.3% during the 4th quarter. Sovran Advisors LLC now owns 30,631 shares of the semiconductor manufacturer’s stock valued at $10,507,000 after buying an additional 16,789 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Broadcom by 406.1% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,994 shares of the semiconductor manufacturer’s stock worth $4,151,000 after acquiring an additional 9,624 shares during the last quarter. Aspiriant LLC boosted its stake in shares of Broadcom by 18.5% in the 4th quarter. Aspiriant LLC now owns 12,016 shares of the semiconductor manufacturer’s stock valued at $4,158,000 after purchasing an additional 1,872 shares in the last quarter. World Investment Advisors boosted its stake in shares of Broadcom by 16.1% in the 4th quarter. World Investment Advisors now owns 177,710 shares of the semiconductor manufacturer’s stock valued at $61,505,000 after purchasing an additional 24,703 shares in the last quarter. Finally, Western Financial Corp CA raised its position in Broadcom by 90.5% in the 4th quarter. Western Financial Corp CA now owns 6,481 shares of the semiconductor manufacturer’s stock worth $2,243,000 after purchasing an additional 3,079 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Standard Chartered chose Broadcom to support a long-term modernization of its global banking infrastructure, underscoring Broadcom’s role in secure private-cloud and enterprise networking solutions. Standard Chartered Selects Broadcom to Deliver Secure, Always-On Banking Services at Global Scale
• Positive Sentiment: Wall Street commentary continues to describe Broadcom as a core AI beneficiary, and some analysts have raised price targets even after the stock pullback. As Shares Fall, Analyst Are Boosting Their Broadcom Price Targets
• Neutral Sentiment: Broadcom remains a major talking point in AI-focused market coverage, with some investors viewing it as an indicator for the broader market and semiconductor cycle. Jim Cramer Says Broadcom Will Tell You When the Market Is About to Turn
• Negative Sentiment: Broadcom is facing renewed skepticism around valuation, with one report asking whether the AI story has made the stock too expensive. Has Broadcom Become Too Expensive for Its AI Story?
• Negative Sentiment: The stock is also being hit by a broader selloff in semiconductor names as investors rotate away from AI-capex winners and worry about a slowdown in chip spending. Marvell Drops 8% as AI Capex Slowdown Fears Weigh on Chips; Broadcom, AMD, and Intel Slide
• Negative Sentiment: Broadcom is also dealing with regulatory uncertainty after reports said it faces an EU antitrust review tied to VMware licensing changes. Broadcom (AVGO) Faces EU Antitrust Review Over VMware Licensing Changes

Insider Buying and Selling

In related news, Director Harry L. You acquired 1,000 shares of the stock in a transaction on Thursday, June 11th. The stock was acquired at an average price of $373.57 per share, for a total transaction of $373,570.00. Following the completion of the purchase, the director owned 38,466 shares of the company’s stock, valued at $14,369,743.62. This represents a 2.67% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Justine Page sold 1,602 shares of the business’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $373.86, for a total value of $598,923.72. Following the completion of the sale, the director directly owned 17,426 shares in the company, valued at $6,514,884.36. This trade represents a 8.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 61,644 shares of company stock worth $24,016,214 over the last three months. 1.90% of the stock is owned by corporate insiders.

Broadcom Trading Down 1.0%

Shares of NASDAQ AVGO opened at $370.83 on Friday. Broadcom Inc. has a 1 year low of $273.00 and a 1 year high of $495.00. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01. The firm has a 50-day moving average of $401.29 and a 200 day moving average of $365.31. The stock has a market cap of $1.76 trillion, a P/E ratio of 61.81, a price-to-earnings-growth ratio of 0.65 and a beta of 1.45.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.04. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The business had revenue of $22.19 billion for the quarter, compared to analysts’ expectations of $22.13 billion. During the same quarter in the prior year, the company earned $1.58 earnings per share. The business’s revenue was up 47.9% compared to the same quarter last year. As a group, sell-side analysts expect that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 22nd were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Monday, June 22nd. Broadcom’s dividend payout ratio (DPR) is 43.33%.

Wall Street Analysts Forecast Growth

AVGO has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $515.00 price objective (up from $430.00) on shares of Broadcom in a report on Thursday, June 4th. JPMorgan Chase & Co. boosted their price objective on Broadcom from $500.00 to $580.00 and gave the company an “overweight” rating in a research report on Thursday, June 4th. Royal Bank Of Canada raised their target price on shares of Broadcom from $360.00 to $400.00 and gave the stock a “sector perform” rating in a report on Thursday, June 4th. Zacks Research downgraded shares of Broadcom from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. Finally, TD Cowen reiterated a “buy” rating and set a $500.00 price target on shares of Broadcom in a report on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and an average price target of $493.24.

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.