KCM Investment Advisors LLC Has $13.67 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

KCM Investment Advisors LLC boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 915.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 79,227 shares of the semiconductor manufacturer’s stock after buying an additional 71,424 shares during the period. KCM Investment Advisors LLC’s holdings in Broadcom were worth $13,667,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Valley Wealth Managers Inc. increased its stake in Broadcom by 874.4% in the 3rd quarter. Valley Wealth Managers Inc. now owns 252,597 shares of the semiconductor manufacturer’s stock valued at $43,573,000 after buying an additional 226,674 shares during the period. Archer Investment Corp increased its stake in shares of Broadcom by 729.2% in the third quarter. Archer Investment Corp now owns 16,865 shares of the semiconductor manufacturer’s stock worth $2,909,000 after acquiring an additional 14,831 shares during the last quarter. Birchcreek Wealth Management LLC raised its holdings in shares of Broadcom by 850.3% during the third quarter. Birchcreek Wealth Management LLC now owns 1,378 shares of the semiconductor manufacturer’s stock worth $238,000 after acquiring an additional 1,233 shares in the last quarter. Empowered Funds LLC boosted its position in Broadcom by 916.3% during the third quarter. Empowered Funds LLC now owns 185,724 shares of the semiconductor manufacturer’s stock valued at $32,037,000 after purchasing an additional 167,450 shares during the last quarter. Finally, Empirical Finance LLC boosted its position in Broadcom by 924.0% during the third quarter. Empirical Finance LLC now owns 142,792 shares of the semiconductor manufacturer’s stock valued at $24,632,000 after purchasing an additional 128,847 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Up 0.5 %

Shares of AVGO opened at $165.67 on Tuesday. 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 company has a 50-day simple moving average of $173.34 and a 200-day simple moving average of $159.57. Broadcom Inc. has a 52 week low of $90.31 and a 52 week high of $186.42. The firm has a market capitalization of $773.77 billion, a P/E ratio of 143.94, a P/E/G ratio of 1.94 and a beta of 1.17.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating the consensus estimate of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.98 billion. During the same quarter in the prior year, the firm posted $0.95 EPS. The company’s revenue for the quarter was up 47.3% on a year-over-year basis. On average, equities research analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were paid a $0.53 dividend. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.28%. Broadcom’s dividend payout ratio is currently 184.19%.

Analyst Ratings Changes

A number of research firms have recently weighed in on AVGO. William Blair started coverage on Broadcom in a research note on Wednesday, September 18th. They set an “outperform” rating for the company. TD Cowen upgraded shares of Broadcom to a “strong-buy” rating in a research note on Monday, September 16th. Mizuho increased their price target on shares of Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. The Goldman Sachs Group lifted their price objective on shares of Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Finally, UBS Group increased their target price on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $192.79.

Insider Transactions at Broadcom

In related news, insider Charlie B. Kawwas sold 25,200 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the completion of the transaction, the insider now owns 753,280 shares in the company, valued at $126,754,425.60. This trade represents a 3.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $182.88, for a total value of $3,456,432.00. Following the completion of the sale, the insider now owns 380,560 shares in the company, valued at $69,596,812.80. This trade represents a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 311,080 shares of company stock valued at $53,540,590. Company insiders own 2.00% of the company’s stock.

Broadcom 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.