Callan Capital LLC Grows Holdings in Broadcom Inc. (NASDAQ:AVGO)

Callan Capital LLC raised its position in Broadcom Inc. (NASDAQ:AVGO) by 13.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 735 shares of the semiconductor manufacturer’s stock after purchasing an additional 88 shares during the period. Callan Capital LLC’s holdings in Broadcom were worth $820,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Motley Fool Asset Management LLC increased its position in shares of Broadcom by 19.2% during the fourth quarter. Motley Fool Asset Management LLC now owns 13,836 shares of the semiconductor manufacturer’s stock valued at $15,444,000 after acquiring an additional 2,229 shares during the last quarter. Evolution Advisers Inc. purchased a new stake in shares of Broadcom during the 4th quarter valued at $49,000. Bank Julius Baer & Co. Ltd Zurich raised its stake in shares of Broadcom by 5.9% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 271,291 shares of the semiconductor manufacturer’s stock worth $302,828,000 after purchasing an additional 15,214 shares during the period. VCI Wealth Management LLC purchased a new position in shares of Broadcom in the 4th quarter worth about $316,000. Finally, State of New Jersey Common Pension Fund D grew its position in Broadcom by 7.7% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 252,413 shares of the semiconductor manufacturer’s stock valued at $281,756,000 after buying an additional 18,109 shares during the period. Institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling

In other Broadcom news, insider Charlie B. Kawwas sold 5,000 shares of Broadcom stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the completion of the sale, the insider now directly owns 16,575 shares in the company, valued at $22,276,800. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Justine Page sold 110 shares of the company’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total value of $145,530.00. Following the completion of the transaction, the director now directly owns 3,125 shares in the company, valued at approximately $4,134,375. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Charlie B. Kawwas sold 5,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the transaction, the insider now directly owns 16,575 shares in the company, valued at $22,276,800. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,920 shares of company stock worth $40,306,667. Insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Shares of AVGO traded up $49.65 during mid-day trading on Friday, reaching $1,344.07. 2,409,427 shares of the stock traded hands, compared to its average volume of 2,935,572. The company has a market cap of $622.87 billion, a price-to-earnings ratio of 49.82, a price-to-earnings-growth ratio of 2.56 and a beta of 1.25. Broadcom Inc. has a 1 year low of $601.29 and a 1 year high of $1,438.17. The firm has a fifty day moving average price of $1,306.70 and a 200 day moving average price of $1,134.07. 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 (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.95 by $2.04. The company had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The firm’s quarterly revenue was up 34.2% on a year-over-year basis. During the same quarter last year, the company earned $9.83 earnings per share. As a group, equities research analysts predict that Broadcom Inc. will post 35.96 earnings per share for the current year.

Broadcom Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 1.56%. The ex-dividend date was Wednesday, March 20th. Broadcom’s payout ratio is 77.84%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AVGO. Oppenheimer reiterated an “outperform” rating and issued a $1,500.00 target price (up from $1,100.00) on shares of Broadcom in a research note on Friday, March 1st. Mizuho raised their target price on Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. UBS Group boosted their target price on Broadcom to $1,480.00 and gave the company a “buy” rating in a research note on Monday, February 26th. The Goldman Sachs Group reissued a “buy” rating and issued a $1,325.00 price objective on shares of Broadcom in a report on Friday, January 19th. Finally, Benchmark reaffirmed a “buy” rating and set a $1,720.00 price objective on shares of Broadcom in a report on Thursday, March 21st. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat, the stock has an average 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.