Nisa Investment Advisors LLC Increases Stake in Broadcom Inc (AVGO)

Nisa Investment Advisors LLC grew its holdings in Broadcom Inc (NASDAQ:AVGO) by 5.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 106,842 shares of the semiconductor manufacturer’s stock after buying an additional 5,299 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Broadcom were worth $26,361,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Barrow Hanley Mewhinney & Strauss LLC increased its position in Broadcom by 15.7% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 969,758 shares of the semiconductor manufacturer’s stock worth $228,524,000 after purchasing an additional 131,845 shares during the period. Front Row Advisors LLC increased its position in Broadcom by 11.1% in the first quarter. Front Row Advisors LLC now owns 4,063 shares of the semiconductor manufacturer’s stock worth $957,000 after purchasing an additional 405 shares during the period. Cibc Bank USA acquired a new stake in Broadcom in the second quarter worth about $228,000. American National Bank acquired a new stake in Broadcom in the second quarter worth about $5,832,000. Finally, Verde Servicos Internacionais S.A. acquired a new stake in Broadcom in the second quarter worth about $4,623,000. Institutional investors own 88.01% of the company’s stock.

In other news, insider Kirsten M. Spears sold 1,194 shares of Broadcom stock in a transaction dated Friday, September 28th. The stock was sold at an average price of $246.52, for a total transaction of $294,344.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Hock E. Tan sold 20,000 shares of Broadcom stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $238.62, for a total value of $4,772,400.00. The disclosure for this sale can be found here. Insiders have sold a total of 41,194 shares of company stock worth $9,164,745 in the last quarter. 3.30% of the stock is currently owned by company insiders.

Broadcom stock opened at $238.32 on Wednesday. The stock has a market cap of $102.01 billion, a PE ratio of 16.67, a P/E/G ratio of 1.02 and a beta of 0.89. Broadcom Inc has a 1 year low of $197.46 and a 1 year high of $285.68. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.98 and a quick ratio of 3.42.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, September 6th. The semiconductor manufacturer reported $4.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.82 by $0.16. The company had revenue of $5.06 billion during the quarter, compared to analyst estimates of $5.06 billion. Broadcom had a return on equity of 28.54% and a net margin of 58.18%. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period in the previous year, the company earned $4.10 EPS. Equities analysts forecast that Broadcom Inc will post 18.09 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Wednesday, September 19th were issued a dividend of $1.75 per share. This represents a $7.00 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend was Tuesday, September 18th. Broadcom’s dividend payout ratio (DPR) is presently 48.95%.

A number of analysts recently commented on AVGO shares. Loop Capital started coverage on Broadcom in a research report on Thursday, June 21st. They issued a “buy” rating and a $306.00 price objective for the company. BidaskClub lowered Broadcom from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 28th. Jefferies Financial Group lowered their price objective on Broadcom to $278.00 and set a “buy” rating for the company in a research report on Thursday, July 12th. Royal Bank of Canada lowered Broadcom from a “top pick” rating to an “outperform” rating and lowered their price objective for the stock from $330.00 to $300.00 in a research report on Thursday, July 12th. Finally, Macquarie lowered Broadcom from an “outperform” rating to a “neutral” rating and set a $265.00 price objective for the company. in a research report on Thursday, July 12th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirty-one have given a buy rating to the company’s stock. Broadcom currently has an average rating of “Buy” and a consensus price target of $290.77.

Broadcom Profile

Broadcom Inc designs, develops, and supplies a range of 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 through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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