Caprock Group LLC Has $20.30 Million Holdings in Broadcom Inc. (NASDAQ:AVGO)

Caprock Group LLC increased its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 947.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 117,658 shares of the semiconductor manufacturer's stock after purchasing an additional 106,425 shares during the quarter. Broadcom makes up 0.7% of Caprock Group LLC's investment portfolio, making the stock its 21st largest holding. Caprock Group LLC's holdings in Broadcom were worth $20,296,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Lion Street Advisors LLC raised its stake in shares of Broadcom by 1.9% during the second quarter. Lion Street Advisors LLC now owns 324 shares of the semiconductor manufacturer's stock worth $520,000 after buying an additional 6 shares during the last quarter. Optimum Investment Advisors boosted its position in shares of Broadcom by 0.6% in the 2nd quarter. Optimum Investment Advisors now owns 1,409 shares of the semiconductor manufacturer's stock worth $2,262,000 after purchasing an additional 8 shares during the last quarter. Anderson Hoagland & Co. grew its stake in shares of Broadcom by 0.3% during the second quarter. Anderson Hoagland & Co. now owns 2,667 shares of the semiconductor manufacturer's stock worth $4,623,000 after purchasing an additional 9 shares during the period. Wealth Group Ltd increased its holdings in Broadcom by 6.0% in the second quarter. Wealth Group Ltd now owns 176 shares of the semiconductor manufacturer's stock valued at $283,000 after purchasing an additional 10 shares during the last quarter. Finally, Canandaigua National Bank & Trust Co. lifted its stake in Broadcom by 1.4% in the second quarter. Canandaigua National Bank & Trust Co. now owns 723 shares of the semiconductor manufacturer's stock valued at $1,161,000 after buying an additional 10 shares during the period. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Stock Down 0.8 %

AVGO traded down $1.38 during trading on Friday, reaching $162.56. 2,394,678 shares of the stock were exchanged, compared to its average volume of 29,229,432. The stock has a market cap of $759.25 billion, a P/E ratio of 142.39, a price-to-earnings-growth ratio of 1.94 and a beta of 1.17. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The stock's 50 day moving average price is $173.77 and its two-hundred day moving average price is $160.37. Broadcom Inc. has a twelve month low of $90.31 and a twelve month high of $186.42.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. During the same period last year, the business posted $0.95 EPS. Broadcom's revenue was up 47.3% on a year-over-year basis. Equities analysts expect that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, September 19th. This is an increase from Broadcom's previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a yield of 1.30%. Broadcom's dividend payout ratio (DPR) is 184.19%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Benchmark reaffirmed a "buy" rating and issued a $210.00 price target on shares of Broadcom in a research note on Friday, September 6th. TD Cowen upgraded shares of Broadcom to a "strong-buy" rating in a report on Monday, September 16th. William Blair started coverage on shares of Broadcom in a research report on Wednesday, September 18th. They set an "outperform" rating on the stock. The Goldman Sachs Group upped their price objective on shares of Broadcom from $185.00 to $190.00 and gave the company a "buy" rating in a research report on Friday, September 6th. Finally, Truist Financial lifted their target price on Broadcom from $204.00 to $205.00 and gave the stock a "buy" rating in a report on Tuesday, October 8th. Two investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $192.79.

Insider Activity

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the firm's stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total value of $8,168,500.00. Following the sale, the chief executive officer now owns 1,331,910 shares of the company's stock, valued at approximately $217,594,136.70. This trade represents a 3.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 18,900 shares of the company's stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total value of $3,456,432.00. Following the sale, the insider now owns 380,560 shares of the company's stock, valued at approximately $69,596,812.80. This represents a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 311,080 shares of company stock valued at $53,540,590. 2.00% of the stock is owned by insiders.

Broadcom Company Profile

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.