KCM Investment Advisors LLC Sells 8,210 Shares of Broadcom Inc. $AVGO

KCM Investment Advisors LLC decreased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 12.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 59,460 shares of the semiconductor manufacturer’s stock after selling 8,210 shares during the period. KCM Investment Advisors LLC’s holdings in Broadcom were worth $20,579,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AVGO. ROSS JOHNSON & Associates LLC lifted its stake in Broadcom by 1,320.0% during the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 66 shares during the period. SWAN Capital LLC lifted its stake in Broadcom by 261.9% during the fourth quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 55 shares during the period. Miller Global Investments LLC bought a new position in Broadcom during the fourth quarter worth about $31,000. Nvest Wealth Strategies Inc. bought a new position in Broadcom during the fourth quarter worth about $33,000. Finally, Family CFO Inc bought a new position in Broadcom during the fourth quarter worth about $35,000. Institutional investors own 76.43% of the company’s stock.

Insider Activity at Broadcom

In other Broadcom news, CFO Kirsten M. Spears sold 36,292 shares of the company’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total transaction of $11,671,507.20. Following the completion of the sale, the chief financial officer owned 327,760 shares in the company, valued at approximately $105,407,616. The trade was a 9.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Charlie B. Kawwas sold 10,000 shares of the company’s stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $345.23, for a total transaction of $3,452,300.00. Following the sale, the insider owned 787,184 shares of the company’s stock, valued at $271,759,532.32. The trade was a 1.25% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 215,970 shares of company stock worth $71,104,945. 1.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on AVGO shares. Jefferies Financial Group set a $550.00 price target on shares of Broadcom and gave the stock a “buy” rating in a research note on Thursday, June 4th. Royal Bank Of Canada raised their price objective on shares of Broadcom from $360.00 to $400.00 and gave the stock a “sector perform” rating in a report on Thursday, June 4th. KeyCorp reaffirmed an “overweight” rating and set a $575.00 price objective (up from $500.00) on shares of Broadcom in a report on Thursday, June 4th. TD Cowen reaffirmed a “buy” rating and set a $500.00 price objective on shares of Broadcom in a report on Thursday, June 4th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and set a $545.00 price objective (up from $430.00) on shares of Broadcom in a report on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and a consensus target price of $490.13.

Broadcom Stock Performance

Shares of Broadcom stock opened at $382.07 on Monday. The firm has a fifty day moving average of $404.26 and a two-hundred day moving average of $363.22. The stock has a market capitalization of $1.82 trillion, a price-to-earnings ratio of 63.68, a PEG ratio of 0.67 and a beta of 1.41. Broadcom Inc. has a 52 week low of $244.17 and a 52 week high of $495.00. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, beating the consensus estimate of $2.40 by $0.04. The company had revenue of $22.19 billion during the quarter, compared to analysts’ expectations of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The business’s revenue for the quarter was up 47.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.58 EPS. As a group, equities research analysts predict that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd will be given a dividend of $0.65 per share. The ex-dividend date is Monday, June 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. Broadcom’s payout ratio is presently 43.33%.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s quarterly results were very strong, with revenue up 48% to a record $22.2 billion, semiconductor revenue up 79%, AI semiconductor revenue up 143% to $10.8 billion, and more than $30 billion in AI bookings, suggesting demand remains robust. Article Title
• Positive Sentiment: Several analysts and commentators argue the recent drop could be a buying opportunity, saying Broadcom remains a core infrastructure winner in AI and that Wall Street’s long-term outlook is still constructive. Article Title
• Positive Sentiment: Fresh coverage highlighted Broadcom as one of the stocks with catalysts heading into the second half of the year, and some analysts have raised earnings forecasts and price targets despite the selloff. Article Title
• Neutral Sentiment: Jim Cramer said Broadcom’s earnings were “not good” and suggested tech stocks are harder to trust as leadership names, reflecting a more cautious market mood around the stock. Article Title
• Neutral Sentiment: Broadcom also announced cash tender offers for certain outstanding debt securities, a routine balance-sheet move that is unlikely to move the stock by itself. Article Title
• Negative Sentiment: Market commentary says the stock is being punished because investors are nitpicking Broadcom’s AI outlook and pricing the shares as if growth must keep accelerating without any hiccups. Article Title
• Negative Sentiment: One note warned that Broadcom told investors to expect gross profit margins to continue falling, reinforcing concerns that profitability may soften even as revenue grows. Article Title

Broadcom Company Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.