Calamos Advisors LLC Has $154.05 Million Holdings in Broadcom Inc. (NASDAQ:AVGO)

Calamos Advisors LLC lessened its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 5.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 138,004 shares of the semiconductor manufacturer’s stock after selling 8,024 shares during the quarter. Broadcom makes up approximately 0.7% of Calamos Advisors LLC’s investment portfolio, making the stock its 16th largest position. Calamos Advisors LLC’s holdings in Broadcom were worth $154,047,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in AVGO. Macroview Investment Management LLC acquired a new stake in Broadcom during the third quarter worth approximately $29,000. BKM Wealth Management LLC acquired a new stake in Broadcom during the fourth quarter worth approximately $29,000. CKW Financial Group acquired a new stake in Broadcom during the fourth quarter worth approximately $30,000. VitalStone Financial LLC grew its position in Broadcom by 71.4% during the first quarter. VitalStone Financial LLC now owns 60 shares of the semiconductor manufacturer’s stock worth $40,000 after buying an additional 25 shares in the last quarter. Finally, Rise Advisors LLC grew its position in Broadcom by 33.3% during the fourth quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock worth $44,000 after buying an additional 10 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insiders Place Their Bets

In other Broadcom news, insider Mark David Brazeal sold 2,500 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $1,318.97, for a total value of $3,297,425.00. Following the completion of the sale, the insider now directly owns 46,974 shares of the company’s stock, valued at $61,957,296.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Hock E. Tan sold 2,000 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the transaction, the chief executive officer now owns 168,096 shares in the company, valued at $220,583,976. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mark David Brazeal sold 2,500 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $1,318.97, for a total transaction of $3,297,425.00. Following the transaction, the insider now owns 46,974 shares in the company, valued at approximately $61,957,296.78. The disclosure for this sale can be found here. Insiders sold 29,920 shares of company stock valued at $40,306,667 over the last three months. Insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Shares of AVGO traded down $23.64 during mid-day trading on Thursday, reaching $1,258.99. 2,410,177 shares of the stock traded hands, compared to its average volume of 2,947,227. The firm has a fifty day moving average price of $1,307.00 and a 200 day moving average price of $1,115.19. The company has a market cap of $583.44 billion, a price-to-earnings ratio of 46.86, a price-to-earnings-growth ratio of 2.71 and a beta of 1.25. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. Broadcom Inc. has a 1 year low of $601.29 and a 1 year high of $1,438.17.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. The firm had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The business’s revenue for the quarter was up 34.2% on a year-over-year basis. During the same period in the previous year, the business earned $9.83 EPS. As a group, equities research analysts predict that Broadcom Inc. will post 35.88 earnings per share for the current year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were issued a dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio is currently 77.84%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on AVGO shares. Evercore ISI started coverage on Broadcom in a research note on Tuesday. They set an “outperform” rating and a $1,620.00 target price for the company. JPMorgan Chase & Co. restated an “overweight” rating and set a $1,700.00 target price on shares of Broadcom in a research note on Thursday, March 21st. The Goldman Sachs Group reiterated a “buy” rating and issued a $1,325.00 price target on shares of Broadcom in a research note on Friday, January 19th. Mizuho increased their price target on Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Finally, UBS Group increased their price objective on Broadcom to $1,480.00 and gave the company a “buy” rating in a report on Monday, February 26th. Three investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,285.41.

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.