Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Caprock Group LLC

Caprock Group LLC lifted its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 121,935 shares of the semiconductor manufacturer's stock after purchasing an additional 4,277 shares during the quarter. Broadcom makes up 0.9% of Caprock Group LLC's investment portfolio, making the stock its 20th biggest holding. Caprock Group LLC's holdings in Broadcom were worth $28,270,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division grew its holdings in shares of Broadcom by 21.5% during the fourth quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer's stock worth $4,858,000 after buying an additional 3,707 shares during the last quarter. Wolff Financial Management LLC acquired a new stake in Broadcom during the 4th quarter worth approximately $244,000. Strait & Sound Wealth Management LLC grew its stake in shares of Broadcom by 829.8% in the 3rd quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer's stock valued at $1,371,000 after purchasing an additional 7,095 shares during the last quarter. Catalyst Financial Partners LLC increased its holdings in shares of Broadcom by 943.3% in the third quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer's stock valued at $3,473,000 after purchasing an additional 18,206 shares during the period. Finally, Motive Wealth Advisors raised its stake in shares of Broadcom by 1,076.5% during the fourth quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer's stock worth $1,066,000 after purchasing an additional 4,209 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AVGO. Barclays upped their price objective on shares of Broadcom from $205.00 to $260.00 and gave the stock an "overweight" rating in a research report on Friday, January 17th. Susquehanna raised their price objective on shares of Broadcom from $200.00 to $225.00 and gave the company a "positive" rating in a research report on Friday, December 13th. Benchmark reaffirmed a "buy" rating and issued a $255.00 price objective (up previously from $210.00) on shares of Broadcom in a report on Friday, December 13th. Truist Financial increased their target price on Broadcom from $205.00 to $245.00 and gave the stock a "buy" rating in a research note on Friday, December 13th. Finally, Mizuho lifted their price target on Broadcom from $245.00 to $260.00 and gave the company an "outperform" rating in a research note on Friday, January 10th. Three research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $225.04.

Broadcom Price Performance

Broadcom stock opened at $221.27 on Monday. The firm's 50-day moving average is $213.41 and its two-hundred day moving average is $182.02. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The stock has a market capitalization of $1.04 trillion, a P/E ratio of 180.48, a P/E/G ratio of 2.16 and a beta of 1.03. Broadcom Inc. has a 12-month low of $117.43 and a 12-month high of $251.88.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping the consensus estimate of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The firm had revenue of $14.05 billion during the quarter, compared to analysts' expectations of $14.07 billion. During the same period in the previous year, the company earned $0.98 EPS. Broadcom's revenue for the quarter was up 51.2% on a year-over-year basis. Equities analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, December 23rd. This is an increase from Broadcom's previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a yield of 1.07%. Broadcom's dividend payout ratio is 192.50%.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Diane M. Bryant sold 15,000 shares of Broadcom stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $226.68, for a total value of $3,400,200.00. Following the transaction, the director now owns 6,460 shares in the company, valued at $1,464,352.80. This trade represents a 69.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mark David Brazeal sold 20,168 shares of the company's stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total value of $4,815,916.72. Following the sale, the insider now owns 321,660 shares of the company's stock, valued at approximately $76,809,191.40. The trade was a 5.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock worth $44,964,800 in the last 90 days. 2.00% of the stock is owned by company 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.

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