Broadcom Inc. $AVGO Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lowered its holdings in Broadcom Inc. (NASDAQ:AVGO) by 0.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,241,456 shares of the semiconductor manufacturer’s stock after selling 2,235 shares during the period. Broadcom accounts for approximately 1.2% of Nisa Investment Advisors LLC’s investment portfolio, making the stock its 7th biggest holding. Nisa Investment Advisors LLC’s holdings in Broadcom were worth $435,987,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in AVGO. Legal & General Group Plc bought a new position in shares of Broadcom during the second quarter valued at approximately $11,998,148,000. Bank of New York Mellon Corp bought a new stake in Broadcom in the second quarter valued at $10,528,191,000. Jupiter Topco LLC bought a new stake in Broadcom in the second quarter valued at $7,396,271,000. State Street Corp increased its position in Broadcom by 8.7% during the 2nd quarter. State Street Corp now owns 208,031,610 shares of the semiconductor manufacturer’s stock valued at $75,367,711,000 after purchasing an additional 16,651,378 shares during the period. Finally, Deutsche Bank AG purchased a new position in Broadcom during the 2nd quarter valued at $5,661,216,000. 76.43% of the stock is currently owned by institutional investors.

Broadcom Stock Performance

Shares of AVGO stock opened at $321.68 on Friday. Broadcom Inc. has a 12 month low of $289.96 and a 12 month high of $495.00. The company has a current ratio of 2.50, a quick ratio of 2.29 and a debt-to-equity ratio of 0.57. The company’s fifty day moving average price is $356.05 and its 200-day moving average price is $384.25. The stock has a market cap of $1.54 trillion, a PE ratio of 41.08 and a beta of 1.46.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share for the quarter, topping analysts’ consensus estimates of $3.22 by $0.10. Broadcom had a net margin of 42.94% and a return on equity of 48.33%. The business had revenue of $29.59 billion for the quarter, compared to analysts’ expectations of $29.24 billion. During the same quarter in the prior year, the company earned $1.69 earnings per share. The business’s revenue was up 85.5% compared to the same quarter last year. On average, equities analysts expect that Broadcom Inc. will post 10.37 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st were given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, September 21st. Broadcom’s payout ratio is currently 33.21%.

Wall Street Analyst Weigh In

Several brokerages have commented on AVGO. BMO Capital Markets upped their price objective on shares of Broadcom from $455.00 to $575.00 and gave the stock an “outperform” rating in a report on Thursday, September 3rd. Evercore set a $578.00 target price on shares of Broadcom and gave the company an “outperform” rating in a research note on Thursday, September 3rd. Raymond James Financial reaffirmed an “outperform” rating and set a $475.00 target price (up from $450.00) on shares of Broadcom in a research note on Thursday, September 3rd. KeyCorp reiterated an “overweight” rating and set a $575.00 price target on shares of Broadcom in a research report on Thursday, September 3rd. Finally, DA Davidson set a $350.00 price target on shares of Broadcom and gave the stock a “neutral” rating in a research note on Friday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $529.17.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: ETF investors bought approximately $89.8 million of Broadcom shares on October 21, signaling continued institutional demand. Broadcom Sees $89.8 Million in Net ETF Buying
• Positive Sentiment: Analysts continue to highlight Broadcom’s leadership in custom AI accelerators. Demand from major AI labs and hyperscalers, including Anthropic, OpenAI and Meta, supports management’s ambitious long-term AI semiconductor growth outlook. 3 Magnificent AI Chip Stocks
• Positive Sentiment: Tigress Financial initiated coverage with a Buy rating and a $600 price target, implying substantial upside from recent trading levels. Tigress Financial Broadcom Coverage
• Positive Sentiment: Broadcom launched Arcot Scam Defense, a real-time fraud-detection feature for digital payments. Strong initial pilot results could create incremental growth for its software and security businesses. Broadcom Debuts Arcot Scam Defense
• Neutral Sentiment: Broadcom remains the leading custom-chip design partner, but Alphabet is diversifying its TPU suppliers. Although Broadcom may lose market share, the overall AI accelerator market is expected to expand rapidly, potentially offsetting that loss. Broadcom AI Chip Business Risks
• Negative Sentiment: Investors are worried that customer-owned chip design and increased competition from MediaTek could reduce Broadcom’s role and margins in future AI programs. Alphabet’s supplier diversification is the clearest near-term risk. Broadcom AI Chip Business Risks
• Negative Sentiment: The broader market sell-off is weighing on AI stocks amid higher oil prices, inflation concerns and questions about whether massive data-center investments will generate sufficient returns. Technical commentary identifies the $320 area as an important support test. Broadcom Faces Critical $320 Test

Broadcom Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software products. Its semiconductor solutions support data center, networking, broadband, wireless communications, storage, industrial and other electronic applications.

The company’s semiconductor portfolio includes networking and switching components, custom accelerators, connectivity and wireless devices, broadband equipment, optical products, storage controllers and related infrastructure technologies.