Broadcom Inc. (NASDAQ:AVGO) Stock Position Lifted by Rock Creek Group LP

Rock Creek Group LP lifted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 2,103.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 639 shares of the semiconductor manufacturer’s stock after purchasing an additional 610 shares during the quarter. Rock Creek Group LP’s holdings in Broadcom were worth $305,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Broadcom by 4.8% during the first quarter. BlackRock Inc. now owns 27,270,770 shares of the semiconductor manufacturer’s stock valued at $12,644,366,000 after buying an additional 1,254,432 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Broadcom by 111.5% during the first quarter. Franklin Resources Inc. now owns 1,105,096 shares of the semiconductor manufacturer’s stock valued at $512,388,000 after purchasing an additional 582,546 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Broadcom by 13.6% during the first quarter. Morgan Stanley now owns 3,339,683 shares of the semiconductor manufacturer’s stock valued at $1,548,477,000 after purchasing an additional 400,046 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Broadcom by 223.5% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 542,543 shares of the semiconductor manufacturer’s stock valued at $251,555,000 after purchasing an additional 374,843 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Broadcom by 26.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,460,183 shares of the semiconductor manufacturer’s stock valued at $677,282,000 after purchasing an additional 302,018 shares during the last quarter. 80.28% of the stock is owned by institutional investors.

Broadcom stock opened at $501.87 on Wednesday. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.41 and a quick ratio of 2.23. The company has a market capitalization of $206.58 billion, a PE ratio of 37.23, a price-to-earnings-growth ratio of 1.36 and a beta of 0.93. Broadcom Inc. has a one year low of $343.48 and a one year high of $507.85. The business has a 50 day simple moving average of $484.42 and a 200 day simple moving average of $470.98.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Wednesday, September 1st. The semiconductor manufacturer reported $6.96 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $6.88 by $0.08. The business had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.76 billion. Broadcom had a return on equity of 44.27% and a net margin of 22.90%. Broadcom’s revenue was up 16.4% on a year-over-year basis. During the same quarter last year, the company earned $5.40 EPS. Equities analysts anticipate that Broadcom Inc. will post 24.42 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 30th. Shareholders of record on Wednesday, September 22nd will be given a $3.60 dividend. The ex-dividend date of this dividend is Tuesday, September 21st. This represents a $14.40 annualized dividend and a yield of 2.87%. Broadcom’s payout ratio is 78.05%.

Several equities research analysts have recently commented on AVGO shares. KeyCorp upped their target price on Broadcom from $565.00 to $575.00 and gave the company an “overweight” rating in a report on Friday, September 3rd. UBS Group increased their price objective on Broadcom from $550.00 to $580.00 and gave the stock a “buy” rating in a research note on Friday, September 3rd. Robert W. Baird upped their target price on Broadcom from $500.00 to $550.00 and gave the stock an “outperform” rating in a research report on Monday, June 7th. Cowen upped their target price on Broadcom from $478.00 to $500.00 and gave the stock a “market perform” rating in a research report on Friday, September 3rd. Finally, Truist upped their target price on Broadcom from $554.00 to $564.00 and gave the stock a “buy” rating in a research report on Friday, September 3rd. Five research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat, Broadcom presently has a consensus rating of “Buy” and an average price target of $549.52.

In related news, insider Mark David Brazeal sold 9,453 shares of Broadcom stock in a transaction on Friday, September 10th. The stock was sold at an average price of $502.38, for a total transaction of $4,748,998.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Charlie B. Kawwas sold 3,000 shares of Broadcom stock in a transaction on Friday, September 10th. The stock was sold at an average price of $500.83, for a total value of $1,502,490.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,264 shares of company stock valued at $8,652,754. Corporate insiders own 2.40% of the company’s stock.

About Broadcom

Broadcom, Inc is a global technology company, which designs, develops and supplies semiconductor and infrastructure software solutions. It operates through the following segments: Semiconductor Solutions and Infrastructure Software. The Semiconductor Solutions segment manages movement of data in data center, telecom, enterprise and embedded networking applications.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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