Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC raised its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.0% during the 1st quarter, according to its most recent disclosure with the Securities & 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 comprises 1.2% of Nisa Investment Advisors LLC's portfolio, making the stock its 9th largest position. Nisa Investment Advisors LLC's holdings in Broadcom were worth $247,669,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Barnes Dennig Private Wealth Management LLC bought a new position in Broadcom in the 1st quarter worth approximately $25,000. Inlight Wealth Management LLC bought a new position in Broadcom in the 1st quarter worth approximately $26,000. Sunbeam Capital Management LLC bought a new position in Broadcom in the 4th quarter worth approximately $28,000. Vermillion Wealth Management Inc. bought a new position in Broadcom in the 4th quarter worth approximately $30,000. Finally, Wood Tarver Financial Group LLC grew its holdings in Broadcom by 342.5% in the 1st quarter. Wood Tarver Financial Group LLC now owns 177 shares of the semiconductor manufacturer's stock worth $30,000 after buying an additional 137 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Stock Down 0.4%

Shares of AVGO traded down $1.02 during mid-day trading on Friday, reaching $274.38. The company's stock had a trading volume of 14,264,387 shares, compared to its average volume of 28,130,552. The business has a fifty day moving average of $246.70 and a 200 day moving average of $218.87. The company has a market cap of $1.29 trillion, a price-to-earnings ratio of 102.76, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12. Broadcom Inc. has a 1 year low of $128.50 and a 1 year high of $281.18. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89.

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

Broadcom announced that its Board of Directors has initiated a stock buyback program on Monday, April 7th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor manufacturer to purchase up to 1.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its shares are undervalued.

Broadcom Announces Dividend

The firm 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. The ex-dividend date was Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.86%. Broadcom's payout ratio is currently 88.39%.

Insider Buying and Selling at Broadcom

In related news, Director Gayla J. Delly sold 3,000 shares of the stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $265.13, for a total transaction of $795,390.00. Following the completion of the sale, the director directly owned 33,352 shares in the company, valued at approximately $8,842,615.76. This trade represents a 8.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kirsten M. Spears sold 36,350 shares of the stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $261.27, for a total value of $9,497,164.50. Following the sale, the chief financial officer owned 325,587 shares of the company's stock, valued at approximately $85,066,115.49. This represents a 10.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 829,716 shares of company stock valued at $216,933,761 in the last quarter. Corporate insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AVGO. Cowen reissued a "buy" rating on shares of Broadcom in a report on Friday, June 6th. HSBC raised Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price objective for the company in a report on Tuesday, June 24th. Erste Group Bank raised Broadcom from a "hold" rating to a "buy" rating in a research note on Thursday, June 5th. Evercore ISI reaffirmed an "outperform" rating and set a $304.00 price target (up from $267.00) on shares of Broadcom in a research note on Friday, June 6th. Finally, Barclays increased their price target on Broadcom from $215.00 to $265.00 and gave the company an "overweight" rating in a research note on Monday, June 9th. One investment 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 company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $290.21.

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.