Callan Capital LLC Boosts Stake in Broadcom Inc. (NASDAQ:AVGO)

Callan Capital LLC boosted its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 13.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,787 shares of the semiconductor manufacturer's stock after purchasing an additional 1,929 shares during the quarter. Callan Capital LLC's holdings in Broadcom were worth $2,811,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in shares of Broadcom by 21.8% in the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock worth $6,882,000 after purchasing an additional 5,322 shares in the last quarter. Revolve Wealth Partners LLC raised its stake in Broadcom by 10.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock valued at $1,854,000 after buying an additional 756 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its holdings in Broadcom by 16.4% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 221,199 shares of the semiconductor manufacturer's stock worth $51,283,000 after acquiring an additional 31,225 shares in the last quarter. Highview Capital Management LLC DE grew its stake in shares of Broadcom by 1.3% during the fourth quarter. Highview Capital Management LLC DE now owns 25,522 shares of the semiconductor manufacturer's stock worth $5,917,000 after acquiring an additional 322 shares during the last quarter. Finally, Proficio Capital Partners LLC increased its holdings in shares of Broadcom by 46.2% during the fourth quarter. Proficio Capital Partners LLC now owns 19,529 shares of the semiconductor manufacturer's stock valued at $4,528,000 after acquiring an additional 6,168 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Broadcom Stock Performance

AVGO traded down $1.00 on Monday, reaching $274.18. The stock had a trading volume of 16,743,337 shares, compared to its average volume of 28,527,816. The business's 50-day moving average price is $238.77 and its two-hundred day moving average price is $217.17. The company has a market cap of $1.29 trillion, a P/E ratio of 102.69, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12. Broadcom Inc. has a 12-month low of $128.50 and a 12-month high of $277.71. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, topping analysts' consensus estimates of $1.57 by $0.01. The company had revenue of $15 billion during the quarter, compared to analysts' expectations 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 quarter in the prior year, the firm posted $10.96 EPS. Sell-side analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom announced that its Board of Directors has initiated a share buyback program on Monday, April 7th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to purchase up to 1.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board of directors believes its stock is undervalued.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 20th were paid a $0.59 dividend. The ex-dividend date of this dividend 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 currently 88.39%.

Insider Transactions at Broadcom

In other Broadcom news, Director Henry Samueli sold 473,898 shares of the stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the transaction, the director directly owned 38,188,575 shares of the company's stock, valued at $10,132,574,604.75. This trade represents a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kirsten M. Spears sold 36,350 shares of the business's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $261.27, for a total transaction of $9,497,164.50. Following the sale, the chief financial officer directly owned 325,587 shares of the company's stock, valued at $85,066,115.49. This represents a 10.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 854,716 shares of company stock worth $221,433,761 in the last ninety days. Company insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

AVGO has been the subject of a number of recent analyst reports. Barclays lifted their target price on shares of Broadcom from $215.00 to $265.00 and gave the stock an "overweight" rating in a research note on Monday, June 9th. HSBC upgraded shares of Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price objective for the company in a research note on Tuesday, June 24th. Truist Financial set a $295.00 target price on Broadcom and gave the company a "buy" rating in a research report on Friday, June 6th. Susquehanna lifted their price target on Broadcom from $280.00 to $300.00 and gave the stock a "positive" rating in a research report on Friday, June 6th. Finally, Wells Fargo & Company boosted their price target on Broadcom from $230.00 to $255.00 and gave the company an "equal weight" rating in a research note on Friday, June 6th. One analyst has rated the stock with a hold rating, twenty-seven have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Broadcom presently has an average rating of "Buy" and a consensus price target of $282.71.

About Broadcom

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.