Arizona State Retirement System Has $438.04 Million Stock Holdings in Broadcom Inc. $AVGO

Key Points

• Arizona State Retirement System holds 1,265,651 shares of Broadcom (NASDAQ:AVGO) worth about $438.04 million, a 3.0% reduction in the 4th quarter that leaves AVGO as roughly 2.4% of its portfolio and the fund's sixth-largest position.
• Broadcom trades near a $1.99 trillion market cap after a quarter that slightly beat EPS and revenue expectations (revenue +29.5% YoY), and analysts rate the stock a consensus "Moderate Buy" with an average target of about $435.30.
• Growth catalysts include surging AI demand, new product launches and a reported multi‑year AI chip deal with Meta, but investors face risks from recent insider selling (324,282 shares worth ~$106.4M over 90 days) and analyst warnings of an overbought/supply pullback risk.

Arizona State Retirement System lowered its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,265,651 shares of the semiconductor manufacturer's stock after selling 39,246 shares during the quarter. Broadcom accounts for approximately 2.4% of Arizona State Retirement System's portfolio, making the stock its 6th largest position. Arizona State Retirement System's holdings in Broadcom were worth $438,042,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Brighton Jones LLC increased its stake in Broadcom by 21.8% during the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock valued at $6,882,000 after purchasing an additional 5,322 shares in the last quarter. Revolve Wealth Partners LLC boosted its holdings in Broadcom by 10.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock worth $1,854,000 after acquiring an additional 756 shares during the last quarter. United Bank boosted its holdings in Broadcom by 76.5% during the 1st quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer's stock worth $392,000 after acquiring an additional 1,014 shares during the last quarter. Sivia Capital Partners LLC boosted its holdings in Broadcom by 10.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer's stock worth $3,499,000 after acquiring an additional 1,160 shares during the last quarter. Finally, Capital & Planning LLC boosted its holdings in shares of Broadcom by 10.5% in the 2nd quarter. Capital & Planning LLC now owns 3,983 shares of the semiconductor manufacturer's stock worth $1,098,000 after buying an additional 378 shares during the last quarter. Institutional investors own 76.43% of the company's stock.

Broadcom Stock Performance

NASDAQ:AVGO opened at $421.28 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.73 and a current ratio of 1.90. The stock's fifty day moving average is $347.36 and its 200 day moving average is $349.80. Broadcom Inc. has a fifty-two week low of $195.94 and a fifty-two week high of $429.31. The firm has a market capitalization of $1.99 trillion, a PE ratio of 82.28, a PEG ratio of 0.86 and a beta of 1.43.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.03 by $0.02. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The business had revenue of $19.31 billion for the quarter, compared to the consensus estimate of $19.10 billion. During the same quarter in the prior year, the company earned $1.60 EPS. The business's revenue was up 29.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Broadcom Inc. will post 9.95 earnings per share for the current year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 23rd were given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.6%. The ex-dividend date was Monday, March 23rd. Broadcom's dividend payout ratio (DPR) is currently 50.78%.

Insider Buying and Selling

In other Broadcom news, insider S. Ram Velaga sold 8,000 shares of the business's stock in a transaction on Friday, April 10th. The stock was sold at an average price of $370.52, for a total transaction of $2,964,160.00. Following the transaction, the insider owned 57,932 shares of the company's stock, valued at approximately $21,464,964.64. The trade was a 12.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Gayla J. Delly sold 1,000 shares of the company's stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $358.31, for a total value of $358,310.00. Following the completion of the transaction, the director directly owned 32,352 shares in the company, valued at approximately $11,592,045.12. This trade represents a 3.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 324,282 shares of company stock valued at $106,425,249 in the last 90 days. Corporate insiders own 1.90% of the company's stock.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: AI demand and bullish fiscal outlook — Analysts point to surging AI revenues, new XPU and networking products and a bullish fiscal‑2026 outlook as the core growth thesis supporting AVGO’s rally. Broadcom Shares Trade Near 52-Week High: Can the Rally Continue?
• Positive Sentiment: Large customer deals — Reports say Broadcom reached a multi‑year AI chip agreement with Meta, boosting near‑term revenue visibility from a top hyperscaler. Broadcom just reached a 3-year AI chip deal with Meta. Does that make AVGO stock a buy?
• Positive Sentiment: Hyperscaler capex tailwinds — Strong Google and Meta earnings and guidance point to continued AI capex (TPUs, custom networking), directly supporting Broadcom’s product demand outlook. Big-Tech Earnings: Google and Meta's Results Support Broadcom's Outlook
• Positive Sentiment: Product and market‑cap milestones — Broadcom unveiled Wi‑Fi 8 and optimized 10G PON chips for broadband and recently crossed roughly a $2 trillion valuation, reinforcing market confidence in both product roadmap and scale. Broadcom Accelerates Multi‑Gig Broadband with Optimized 10G PON and Wi‑Fi 8 Solutions for Mass Market
• Neutral Sentiment: Institutional buying — Notable investors and funds have increased stakes in AVGO, signaling confidence but not guaranteeing further upside. Alecta Pensionsforsakring Boosts Broadcom Stake by 398,900 Shares
• Neutral Sentiment: Sector rotation and comparisons — Commentary comparing AVGO to peers (AMD, NVDA) highlights relative strength but also shows investors weighing which chip names will best capture the AI build‑out. Why AMD, AVGO are outperforming Nvidia after Big Tech earnings
• Negative Sentiment: Overbought / supply risk — A Schwab analyst warns chip stocks have experienced a sharp rally and face “overhead supply” risk, suggesting potential pullbacks or increased volatility if buyers pause. Schwab Analyst: Chip Stocks Face ‘Overhead Supply' Risk After 50% Rally Off March Lows

Analyst Ratings Changes

Several research firms have commented on AVGO. Truist Financial upped their price objective on shares of Broadcom from $510.00 to $545.00 and gave the company a "buy" rating in a report on Thursday, March 5th. DA Davidson raised shares of Broadcom to a "hold" rating in a report on Friday, February 13th. Zacks Research upgraded shares of Broadcom from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 2nd. Morgan Stanley raised their target price on shares of Broadcom from $462.00 to $470.00 and gave the stock an "overweight" rating in a report on Friday, March 6th. Finally, Mizuho reaffirmed an "outperform" rating and issued a $480.00 target price on shares of Broadcom in a research note on Thursday, April 16th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Broadcom has an average rating of "Moderate Buy" and a consensus price target of $435.30.

Broadcom Profile

Broadcom Inc NASDAQ: AVGO is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company's semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom's portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.

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