Calamos Wealth Management LLC Buys 7,887 Shares of Broadcom Inc. (NASDAQ:AVGO)

Calamos Wealth Management LLC boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 172,751 shares of the semiconductor manufacturer's stock after buying an additional 7,887 shares during the period. Broadcom makes up about 1.4% of Calamos Wealth Management LLC's investment portfolio, making the stock its 14th largest holding. Calamos Wealth Management LLC's holdings in Broadcom were worth $28,924,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AVGO. Rialto Wealth Management LLC bought a new stake in shares of Broadcom in the 4th quarter worth $26,000. Sunbeam Capital Management LLC bought a new stake in shares of Broadcom in the 4th quarter worth $28,000. Vermillion Wealth Management Inc. bought a new stake in shares of Broadcom in the 4th quarter worth $30,000. Sellwood Investment Partners LLC bought a new stake in shares of Broadcom in the 4th quarter worth $32,000. Finally, Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Broadcom in the 1st quarter worth $25,000. Institutional investors own 76.43% of the company's stock.

Broadcom Price Performance

NASDAQ AVGO opened at $274.87 on Friday. The company has a market capitalization of $1.29 trillion, a PE ratio of 102.95, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.98 and a current ratio of 1.08. The business's fifty day moving average is $238.77 and its 200 day moving average is $217.22. Broadcom Inc. has a fifty-two week low of $128.50 and a fifty-two week high of $277.71.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.01. The company had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.98 billion. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. Broadcom's quarterly revenue was up 20.2% compared to the same quarter last year. During the same period in the previous year, the business earned $10.96 earnings per share. Sell-side analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were issued a dividend of $0.59 per share. The ex-dividend date was Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a yield of 0.86%. Broadcom's dividend payout ratio is presently 88.39%.

Broadcom announced that its board has approved a share buyback plan on Monday, April 7th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to purchase up to 1.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts have commented on AVGO shares. Cowen reissued a "buy" rating on shares of Broadcom in a report on Friday, June 6th. Mizuho lifted their target price on Broadcom from $310.00 to $315.00 and gave the stock an "outperform" rating in a report on Thursday. Evercore ISI reissued an "outperform" rating and issued a $304.00 target price (up previously from $267.00) on shares of Broadcom in a report on Friday, June 6th. Truist Financial set a $295.00 target price on Broadcom and gave the stock a "buy" rating in a report on Friday, June 6th. Finally, Rosenblatt Securities lifted their target price on Broadcom from $223.00 to $340.00 and gave the stock a "buy" rating in a report on Friday, June 6th. One research analyst has rated the stock with a hold rating, twenty-seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Broadcom has a consensus rating of "Buy" and a consensus price target of $281.46.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Gayla J. Delly sold 3,000 shares of the firm's stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $265.13, for a total transaction of $795,390.00. Following the sale, the director directly owned 33,352 shares of the company's stock, valued at $8,842,615.76. This trade represents a 8.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Henry Samueli sold 473,898 shares of the firm's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total value of $125,739,356.34. Following the sale, the director directly owned 38,188,575 shares in the company, valued at approximately $10,132,574,604.75. This represents a 1.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 854,716 shares of company stock valued at $221,433,761. 2.00% of the stock is currently owned by corporate insiders.

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.

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