Callan Capital LLC Buys 151 Shares of Broadcom Inc. (NASDAQ:AVGO)

Callan Capital LLC lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 14.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,178 shares of the semiconductor manufacturer’s stock after acquiring an additional 151 shares during the quarter. Callan Capital LLC’s holdings in Broadcom were worth $1,892,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of AVGO. Swedbank AB purchased a new stake in shares of Broadcom in the 1st quarter worth $2,835,737,000. Vanguard Group Inc. raised its holdings in shares of Broadcom by 3.0% in the first quarter. Vanguard Group Inc. now owns 44,651,273 shares of the semiconductor manufacturer’s stock valued at $59,181,244,000 after acquiring an additional 1,303,462 shares in the last quarter. Jennison Associates LLC lifted its stake in Broadcom by 43.9% in the first quarter. Jennison Associates LLC now owns 4,141,025 shares of the semiconductor manufacturer’s stock worth $5,488,556,000 after acquiring an additional 1,263,957 shares during the period. Capital International Investors grew its holdings in Broadcom by 4.5% during the 4th quarter. Capital International Investors now owns 23,330,880 shares of the semiconductor manufacturer’s stock worth $26,044,294,000 after acquiring an additional 1,006,223 shares in the last quarter. Finally, GQG Partners LLC increased its position in Broadcom by 48.9% during the 1st quarter. GQG Partners LLC now owns 2,992,833 shares of the semiconductor manufacturer’s stock valued at $3,966,730,000 after purchasing an additional 983,328 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling

In other news, CEO Hock E. Tan sold 7,502 shares of the stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total transaction of $12,798,036.90. Following the sale, the chief executive officer now owns 138,191 shares of the company’s stock, valued at $235,746,936.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Hock E. Tan sold 7,502 shares of the business’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $1,705.95, for a total transaction of $12,798,036.90. Following the completion of the transaction, the chief executive officer now directly owns 138,191 shares of the company’s stock, valued at approximately $235,746,936.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Hock E. Tan sold 50,000 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total value of $8,168,500.00. Following the sale, the chief executive officer now owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $167.42 on Friday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The firm has a market cap of $779.32 billion, a PE ratio of 7.20, a PEG ratio of 2.55 and a beta of 1.16. Broadcom Inc. has a one year low of $79.51 and a one year high of $185.16. The firm has a fifty day moving average of $156.80 and a 200 day moving average of $146.69.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. The firm had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. Broadcom’s quarterly revenue was up 47.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.95 earnings per share. As a group, research analysts predict that Broadcom Inc. will post 3.77 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 19th will be issued a dividend of $0.53 per share. The ex-dividend date is Thursday, September 19th. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.27%. Broadcom’s dividend payout ratio is currently 9.12%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Mizuho lifted their price objective on shares of Broadcom from $162.50 to $190.00 and gave the company a “buy” rating in a report on Thursday, June 13th. Rosenblatt Securities decreased their price objective on Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a research note on Friday, September 6th. Benchmark reiterated a “buy” rating and issued a $210.00 target price on shares of Broadcom in a research note on Friday, September 6th. JPMorgan Chase & Co. increased their price target on shares of Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Finally, Sanford C. Bernstein lifted their price objective on shares of Broadcom from $160.00 to $195.00 and gave the stock an “outperform” rating in a research report on Thursday, June 13th. Two equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Broadcom presently has a consensus rating of “Moderate Buy” and an average target price of $189.23.

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.