Calamos Advisors LLC Lowers Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Calamos Advisors LLC lessened its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 5.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 138,004 shares of the semiconductor manufacturer’s stock after selling 8,024 shares during the quarter. Broadcom comprises 0.7% of Calamos Advisors LLC’s holdings, making the stock its 16th biggest position. Calamos Advisors LLC’s holdings in Broadcom were worth $154,047,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. BKM Wealth Management LLC bought a new position in shares of Broadcom during the 4th quarter worth approximately $29,000. CKW Financial Group acquired a new position in Broadcom during the 4th quarter valued at approximately $30,000. Macroview Investment Management LLC acquired a new position in Broadcom during the 3rd quarter valued at approximately $29,000. PrairieView Partners LLC increased its stake in Broadcom by 178.6% during the 4th quarter. PrairieView Partners LLC now owns 39 shares of the semiconductor manufacturer’s stock valued at $44,000 after purchasing an additional 25 shares in the last quarter. Finally, Rise Advisors LLC increased its stake in Broadcom by 33.3% during the 4th quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock valued at $44,000 after purchasing an additional 10 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Insider Activity

In other news, insider Charlie B. Kawwas sold 5,000 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the completion of the transaction, the insider now directly owns 16,575 shares in the company, valued at approximately $22,276,800. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Mark David Brazeal sold 2,500 shares of the firm’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $1,316.46, for a total transaction of $3,291,150.00. Following the transaction, the insider now directly owns 41,974 shares in the company, valued at $55,257,092.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Charlie B. Kawwas sold 5,000 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the transaction, the insider now owns 16,575 shares in the company, valued at $22,276,800. The disclosure for this sale can be found here. Insiders sold a total of 29,920 shares of company stock valued at $40,306,667 in the last 90 days. 2.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

AVGO has been the topic of a number of recent analyst reports. Cantor Fitzgerald upped their price target on shares of Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a research note on Monday, March 4th. The Goldman Sachs Group restated a “buy” rating and set a $1,325.00 price target on shares of Broadcom in a research note on Friday, January 19th. Evercore ISI assumed coverage on shares of Broadcom in a research note on Tuesday. They issued an “outperform” rating and a $1,620.00 price objective on the stock. TD Cowen upgraded shares of Broadcom from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $1,400.00 to $1,500.00 in a research note on Thursday, March 21st. Finally, Susquehanna increased their price objective on shares of Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a research note on Wednesday, February 28th. Three equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,285.41.

Broadcom Stock Performance

Shares of Broadcom stock traded down $23.64 during trading on Thursday, reaching $1,258.99. The company’s stock had a trading volume of 2,410,177 shares, compared to its average volume of 2,947,227. The company has a 50-day moving average price of $1,307.00 and a two-hundred day moving average price of $1,115.19. The firm has a market cap of $583.44 billion, a PE ratio of 46.86, a P/E/G ratio of 2.71 and a beta of 1.25. Broadcom Inc. has a fifty-two week low of $601.29 and a fifty-two week high of $1,438.17. 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 announced its 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 business had revenue of $11.96 billion for the quarter, compared to analysts’ expectations of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The company’s quarterly revenue was up 34.2% on a year-over-year basis. During the same period in the previous year, the company posted $9.83 EPS. On average, analysts forecast that Broadcom Inc. will post 35.88 EPS for the current year.

Broadcom Dividend Announcement

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

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.