Nicolet Bankshares Inc. Purchases 304 Shares of Broadcom Inc. (NASDAQ:AVGO)

Nicolet Bankshares Inc. boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 18.2% during the fourth quarter, Holdings Channel reports. The firm owned 1,974 shares of the semiconductor manufacturer’s stock after acquiring an additional 304 shares during the quarter. Nicolet Bankshares Inc.’s holdings in Broadcom were worth $458,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of AVGO. Howard Capital Management Group LLC lifted its holdings in Broadcom by 2,219.8% in the third quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock worth $524,000 after buying an additional 2,908 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Broadcom by 1,019.4% in the 3rd quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer’s stock valued at $1,238,966,000 after purchasing an additional 6,540,800 shares during the period. Invst LLC boosted its position in shares of Broadcom by 928.6% during the third quarter. Invst LLC now owns 3,024 shares of the semiconductor manufacturer’s stock valued at $522,000 after purchasing an additional 2,730 shares in the last quarter. McIlrath & Eck LLC grew its stake in Broadcom by 793.3% in the third quarter. McIlrath & Eck LLC now owns 402 shares of the semiconductor manufacturer’s stock worth $69,000 after purchasing an additional 357 shares during the period. Finally, Passumpsic Savings Bank raised its holdings in Broadcom by 900.9% in the third quarter. Passumpsic Savings Bank now owns 15,904 shares of the semiconductor manufacturer’s stock worth $2,743,000 after purchasing an additional 14,315 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on AVGO shares. Deutsche Bank Aktiengesellschaft upped their target price on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $300.00 target price on shares of Broadcom in a research note on Friday, March 7th. William Blair reissued an “outperform” rating on shares of Broadcom in a research report on Friday, March 7th. TD Cowen raised their price objective on Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, Mizuho dropped their target price on Broadcom from $260.00 to $250.00 and set an “outperform” rating on the stock in a report on Friday, March 7th. Three analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and a consensus target price of $231.68.

Broadcom Stock Up 5.6 %

AVGO stock opened at $181.94 on Friday. The business’s 50-day moving average is $195.52 and its two-hundred day moving average is $195.99. The company has a market cap of $855.47 billion, a price-to-earnings ratio of 148.40, a P/E/G ratio of 2.29 and a beta of 1.05. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom’s payout ratio is 113.46%.

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

Insider Activity at Broadcom

In other news, insider Mark David Brazeal sold 30,000 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $194.65, for a total value of $5,839,500.00. Following the transaction, the insider now owns 490,956 shares of the company’s stock, valued at $95,564,585.40. This trade represents a 5.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Henry Samueli sold 663,976 shares of Broadcom stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total value of $120,578,041.60. Following the transaction, the director now directly owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. The trade was a 1.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

Broadcom Company 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.