Following the trade, Jim Cramer's Charitable Trust will own 50 shares of AVGO, increasing its weighting in the portfolio to 1.46% from 0.97%.
With shares of Broadcom set to open down about 4% following the semiconductor firm's quarterly results Thursday, we are stepping in to build up our newest position .
We also want to expand our Broadcom position before its planned acquisition of cloud-computing firm VMWare closes, likely at the end of October.
The deal should provide a nice boost to Broadcom's gross profit margins, while adding a strong stream of recurring revenue.
Industry Leader: Broadcom (BRCM)Annual revenue per employee: $605,318Annual profit per employee: $6,559Employees: 7,185Industry Laggard: National Semiconductor (NSM)Annual revenue per employee: $224,877Annual profit per employee: $30,164Employees: 6,500 Photo: Huang jia hui
Persons:
Jim Cramer's, TD Cowen, Wells, Jim Cramer, Jim, Huang jia
Organizations:
Broadcom, AVGO, VMWare, Wall, CNBC, Industry, National Semiconductor
Locations:
Wells Fargo, –