KCM Investment Advisors LLC increased its holdings in shares of Broadcom Inc (NASDAQ:AVGO) by 27.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,219 shares of the semiconductor manufacturer’s stock after acquiring an additional 473 shares during the quarter. KCM Investment Advisors LLC’s holdings in Broadcom were worth $523,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Schwab Charles Investment Management Inc. raised its stake in shares of Broadcom by 4.2% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,350,163 shares of the semiconductor manufacturer’s stock valued at $346,857,000 after buying an additional 53,921 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Broadcom by 0.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 80,853 shares of the semiconductor manufacturer’s stock valued at $20,771,000 after buying an additional 656 shares during the period. Field & Main Bank bought a new stake in shares of Broadcom in the fourth quarter valued at $2,342,000. Buckley Wealth Management LLC bought a new stake in shares of Broadcom in the fourth quarter valued at $809,000. Finally, Traynor Capital Management Inc. raised its stake in shares of Broadcom by 42.0% in the fourth quarter. Traynor Capital Management Inc. now owns 1,288 shares of the semiconductor manufacturer’s stock valued at $330,000 after buying an additional 381 shares during the period. Institutional investors and hedge funds own 89.02% of the company’s stock.
In other news, insider Hock E. Tan sold 20,000 shares of the company’s stock in a transaction dated Thursday, March 15th. The stock was sold at an average price of $264.13, for a total value of $5,282,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Charlie B. Kawwas sold 997 shares of the company’s stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $243.88, for a total value of $243,148.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 78,675 shares of company stock valued at $20,078,429. 3.30% of the stock is owned by company insiders.
Broadcom stock opened at $235.99 on Friday. Broadcom Inc has a 52 week low of $221.98 and a 52 week high of $285.68. The company has a debt-to-equity ratio of 0.60, a current ratio of 5.70 and a quick ratio of 5.04. The stock has a market cap of $96.93 billion, a P/E ratio of 16.50, a price-to-earnings-growth ratio of 1.13 and a beta of 0.95.
Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, March 15th. The semiconductor manufacturer reported $5.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.41 by $0.71. Broadcom had a return on equity of 29.50% and a net margin of 41.37%. The business had revenue of $5.33 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same period in the previous year, the business earned $3.63 earnings per share. The firm’s revenue was up 28.5% on a year-over-year basis. equities research analysts predict that Broadcom Inc will post 16.82 earnings per share for the current fiscal year.
Broadcom declared that its board has initiated a share repurchase program on Thursday, April 12th that permits the company to repurchase $12.00 billion in shares. This repurchase authorization permits the semiconductor manufacturer to repurchase up to 12.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.
Several analysts have issued reports on AVGO shares. Credit Suisse Group restated a “buy” rating on shares of Broadcom in a research note on Tuesday, January 23rd. Barclays started coverage on Broadcom in a research note on Monday, March 26th. They issued an “overweight” rating and a $335.00 target price on the stock. Zacks Investment Research lowered Broadcom from a “buy” rating to a “hold” rating in a research note on Friday, March 16th. Bank of America restated a “buy” rating and issued a $340.00 target price on shares of Broadcom in a research note on Thursday, March 15th. Finally, BidaskClub lowered Broadcom from a “sell” rating to a “strong sell” rating in a research note on Thursday, January 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-two have issued a buy rating and one has given a strong buy rating to the company. Broadcom currently has a consensus rating of “Buy” and an average price target of $308.96.
Broadcom Limited designs, develops, and supplies a range of 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 through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.
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