Psagot Investment House Ltd. Has $142,000 Holdings in Broadcom Inc (NASDAQ:AVGO)

Psagot Investment House Ltd. cut its stake in Broadcom Inc (NASDAQ:AVGO) by 37.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 495 shares of the semiconductor manufacturer’s stock after selling 301 shares during the period. Psagot Investment House Ltd.’s holdings in Broadcom were worth $142,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AVGO. Pinnacle Bank lifted its position in Broadcom by 128.2% during the 2nd quarter. Pinnacle Bank now owns 89 shares of the semiconductor manufacturer’s stock worth $26,000 after buying an additional 50 shares in the last quarter. First Financial Corp IN bought a new stake in shares of Broadcom in the 1st quarter valued at about $30,000. Daiwa SB Investments Ltd. bought a new stake in shares of Broadcom in the 1st quarter valued at about $30,000. Destination Wealth Management bought a new stake in shares of Broadcom in the 1st quarter valued at about $41,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Broadcom in the 1st quarter valued at about $45,000. 84.03% of the stock is owned by hedge funds and other institutional investors.

Broadcom stock traded up $4.75 during trading hours on Friday, hitting $275.73. The company had a trading volume of 2,940,530 shares, compared to its average volume of 2,030,560. The stock has a market capitalization of $107.50 billion, a price-to-earnings ratio of 14.64, a PEG ratio of 1.31 and a beta of 0.92. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of 1.53. Broadcom Inc has a one year low of $202.77 and a one year high of $323.20. The business’s 50-day moving average is $285.60.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, June 13th. The semiconductor manufacturer reported $5.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $5.18 by $0.03. Broadcom had a net margin of 15.92% and a return on equity of 32.81%. The firm had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same quarter in the prior year, the business posted $4.88 EPS. The business’s revenue was up 10.0% compared to the same quarter last year. Equities analysts expect that Broadcom Inc will post 17.43 earnings per share for the current year.

AVGO has been the topic of a number of research analyst reports. BidaskClub cut shares of Broadcom from a “buy” rating to a “hold” rating in a report on Saturday, August 3rd. Royal Bank of Canada initiated coverage on shares of Broadcom in a report on Tuesday, July 23rd. They issued an “outperform” rating and a $320.00 target price on the stock. KeyCorp upped their target price on shares of Broadcom from $310.00 to $330.00 and gave the company an “overweight” rating in a report on Friday. SunTrust Banks dropped their target price on shares of Broadcom to $307.00 and set a “buy” rating on the stock in a report on Friday, June 14th. Finally, Morgan Stanley dropped their target price on shares of Broadcom from $266.00 to $262.00 and set an “equal weight” rating on the stock in a report on Monday, June 10th. Nine analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $304.32.

In other Broadcom news, SVP Bryan Ingram sold 11,922 shares of the stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $278.58, for a total transaction of $3,321,230.76. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Hock E. Tan sold 20,000 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $264.00, for a total transaction of $5,280,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 65,388 shares of company stock worth $18,198,482. Company insiders own 3.30% of the company’s stock.

Broadcom Company Profile

Broadcom Inc designs, develops, and supplies a range of 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 through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

Further Reading: Bid-Ask Spread

Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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