Nisa Investment Advisors LLC Purchases 43,438 Shares of Broadcom Inc. (NASDAQ:AVGO)

Nisa Investment Advisors LLC grew its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,479,241 shares of the semiconductor manufacturer's stock after buying an additional 43,438 shares during the quarter. Broadcom accounts for about 1.2% of Nisa Investment Advisors LLC's portfolio, making the stock its 9th largest holding. Nisa Investment Advisors LLC's holdings in Broadcom were worth $247,669,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Banco Bilbao Vizcaya Argentaria S.A. increased its stake in shares of Broadcom by 3.8% in the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer's stock valued at $120,070,000 after purchasing an additional 18,845 shares in the last quarter. Nebula Research & Development LLC increased its stake in shares of Broadcom by 1,100.8% in the 4th quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer's stock valued at $3,642,000 after purchasing an additional 14,399 shares in the last quarter. OMNI 360 Wealth Inc. increased its stake in shares of Broadcom by 51.6% in the 1st quarter. OMNI 360 Wealth Inc. now owns 2,980 shares of the semiconductor manufacturer's stock valued at $499,000 after purchasing an additional 1,014 shares in the last quarter. Coppell Advisory Solutions LLC increased its stake in shares of Broadcom by 1,512.3% in the 4th quarter. Coppell Advisory Solutions LLC now owns 92,629 shares of the semiconductor manufacturer's stock valued at $21,660,000 after purchasing an additional 86,884 shares in the last quarter. Finally, Colonial Trust Co SC increased its stake in shares of Broadcom by 14.6% in the 4th quarter. Colonial Trust Co SC now owns 10,085 shares of the semiconductor manufacturer's stock valued at $2,338,000 after purchasing an additional 1,285 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Buying and Selling at Broadcom

In other news, CEO Hock E. Tan sold 40,000 shares of the company's stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $268.29, for a total transaction of $10,731,600.00. Following the sale, the chief executive officer owned 482,836 shares of the company's stock, valued at approximately $129,540,070.44. This represents a 7.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Henry Samueli sold 473,898 shares of the company's stock in a transaction on Wednesday, June 25th. The stock was 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 $10,132,574,604.75. This represents a 1.23% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 854,716 shares of company stock valued at $221,433,761. Insiders own 2.00% of the company's stock.

Broadcom Price Performance

Shares of AVGO stock traded down $3.25 during trading hours on Thursday, reaching $274.65. The company had a trading volume of 9,461,068 shares, compared to its average volume of 28,296,457. Broadcom Inc. has a 12-month low of $128.50 and a 12-month high of $281.42. The company has a market capitalization of $1.29 trillion, a price-to-earnings ratio of 102.67, a PEG ratio of 1.93 and a beta of 1.12. The stock has a fifty day moving average of $243.73 and a 200-day moving average of $218.33. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.98 and a current ratio of 1.08.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, beating analysts' consensus estimates of $1.57 by $0.01. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The firm had revenue of $15 billion for the quarter, compared to analysts' expectations of $14.98 billion. During the same period in the prior year, the firm posted $10.96 earnings per share. The firm's quarterly revenue was up 20.2% on a year-over-year basis. On average, equities analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

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

Broadcom Announces Dividend

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

Analysts Set New Price Targets

Several brokerages recently weighed in on AVGO. Benchmark lifted their price target on Broadcom from $255.00 to $315.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Evercore ISI restated an "outperform" rating and issued a $304.00 price target (up previously from $267.00) on shares of Broadcom in a research note on Friday, June 6th. Oppenheimer lifted their price target on Broadcom from $225.00 to $265.00 and gave the company an "outperform" rating in a research note on Friday, May 30th. Rosenblatt Securities lifted their price target on Broadcom from $223.00 to $340.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Finally, UBS Group boosted their price objective on Broadcom from $270.00 to $290.00 and gave the stock a "buy" rating in a research note 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 assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $290.21.

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.