Broadcom Inc. (NASDAQ:AVGO) is Nisa Investment Advisors LLC's 9th Largest Position

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

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in Broadcom by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer's stock worth $110,155,206,000 after acquiring an additional 6,573,204 shares in the last quarter. Geode Capital Management LLC grew its stake in Broadcom by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 102,207,120 shares of the semiconductor manufacturer's stock worth $23,647,209,000 after acquiring an additional 3,018,294 shares in the last quarter. FMR LLC lifted its position in shares of Broadcom by 3.2% in the 4th quarter. FMR LLC now owns 93,274,317 shares of the semiconductor manufacturer's stock worth $21,624,718,000 after purchasing an additional 2,873,809 shares during the period. Norges Bank purchased a new stake in shares of Broadcom in the 4th quarter worth approximately $16,893,010,000. Finally, Northern Trust Corp lifted its position in shares of Broadcom by 12.0% in the 4th quarter. Northern Trust Corp now owns 49,087,351 shares of the semiconductor manufacturer's stock worth $11,380,411,000 after purchasing an additional 5,258,925 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Broadcom

In related news, CFO Kirsten M. Spears sold 36,350 shares of the company's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $261.27, for a total value of $9,497,164.50. Following the completion of the sale, the chief financial officer owned 325,587 shares in the company, valued at $85,066,115.49. This represents a 10.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the completion of the sale, the director owned 38,188,575 shares of the company's stock, valued at approximately $10,132,574,604.75. This trade represents a 1.23% 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 over the last 90 days. Company insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on AVGO shares. Erste Group Bank raised shares of Broadcom from a "hold" rating to a "buy" rating in a research report on Thursday, June 5th. JPMorgan Chase & Co. raised their price target on shares of Broadcom from $250.00 to $325.00 and gave the stock an "overweight" rating in a report on Friday, June 6th. Wells Fargo & Company increased their price objective on shares of Broadcom from $230.00 to $255.00 and gave the stock an "equal weight" rating in a research note on Friday, June 6th. Mizuho increased their price objective on shares of Broadcom from $310.00 to $315.00 and gave the stock an "outperform" rating in a research note on Thursday, July 3rd. Finally, Bank of America raised their price target on shares of Broadcom from $240.00 to $300.00 and gave the company a "buy" rating in a research report on Friday, June 6th. One equities research analyst has rated the stock with a hold rating, twenty-seven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $285.00.

Broadcom Stock Up 2.2%

Shares of Broadcom stock traded up $6.10 during trading hours on Wednesday, hitting $277.90. The company had a trading volume of 20,105,827 shares, compared to its average volume of 28,408,626. The company's 50-day moving average is $242.02 and its two-hundred day moving average is $217.92. Broadcom Inc. has a twelve month low of $128.50 and a twelve month high of $279.37. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98. The company has a market cap of $1.31 trillion, a P/E ratio of 104.08, a price-to-earnings-growth ratio of 1.95 and a beta of 1.12.

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

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

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend was Friday, June 20th. Broadcom's payout ratio is 88.39%.

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.