Broadcom Inc. $AVGO Shares Sold by Thornburg Investment Management Inc.

Key Points

• Thornburg Investment Management cut its stake in Broadcom by 16.7% in Q3, selling 440,840 shares and leaving 2,204,525 shares worth about $727.3 million, making AVGO roughly 9.5% of Thornburg’s portfolio (its 3rd-largest holding).
• Broadcom recently beat quarterly expectations with $1.95 EPS vs. $1.87 expected and revenue of $18.02 billion (up 28.2% YoY), and raised its quarterly dividend to $0.65 ($2.60 annual).
• Significant insider and institutional activity includes insiders selling ~779,101 shares (~$283.8M) in the past 90 days and hedge funds owning 76.43% of the stock, while analysts remain generally positive—citing AI tailwinds and new products—with an average target near $433.13.

Thornburg Investment Management Inc. lessened its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 16.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,204,525 shares of the semiconductor manufacturer's stock after selling 440,840 shares during the period. Broadcom makes up about 9.5% of Thornburg Investment Management Inc.'s portfolio, making the stock its 3rd biggest position. Thornburg Investment Management Inc.'s holdings in Broadcom were worth $727,295,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in AVGO. Longfellow Investment Management Co. LLC purchased a new position in shares of Broadcom during the 2nd quarter valued at approximately $27,000. Teachers Insurance & Annuity Association of America purchased a new position in shares of Broadcom in the 2nd quarter valued at about $28,000. New England Capital Financial Advisors LLC acquired a new position in Broadcom in the 2nd quarter worth about $31,000. JCIC Asset Management Inc. purchased a new position in Broadcom during the third quarter worth approximately $31,000. Finally, Manning & Napier Advisors LLC acquired a new stake in Broadcom in the third quarter valued at approximately $34,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Broadcom Stock Performance

NASDAQ:AVGO opened at $332.31 on Thursday. The company has a market cap of $1.58 trillion, a P/E ratio of 69.81, a P/E/G ratio of 1.04 and a beta of 1.21. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $414.61. The company's 50-day moving average price is $336.92 and its 200-day moving average price is $342.35. The company has a current ratio of 1.71, a quick ratio of 1.58 and a debt-to-equity ratio of 0.76.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.08. Broadcom had a net margin of 36.20% and a return on equity of 37.45%. The company had revenue of $18.02 billion during the quarter, compared to analysts' expectations of $17.46 billion. During the same quarter in the prior year, the company earned $1.42 EPS. Broadcom's revenue was up 28.2% compared to the same quarter last year. On average, sell-side analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 22nd were issued a $0.65 dividend. This is a boost from Broadcom's previous quarterly dividend of $0.59. This represents a $2.60 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, December 22nd. Broadcom's payout ratio is 54.62%.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Analysts/strategists flag long-term AI tailwinds and adjusted valuations that support upside for AVGO; TD Cowen’s note highlighting AI-driven runway helped lift sentiment. TD Cowen Adjusts Broadcom Valuation
• Positive Sentiment: Broadcom launched “BroadPeak,” a new connectivity chip positioned for 5G Advanced/6G and lower power use; product news supports the company’s stated AI and connectivity growth narrative. BroadPeak Launch
• Positive Sentiment: Market commentary noted a near-term bump (AVGO up intraday) and analysts saying a larger move may be ahead, reinforcing momentum into the earnings catalyst. Invezz Article
• Positive Sentiment: Dividend continuity: Broadcom announced the next quarterly dividend payment date, supporting the income profile for shareholders. Dividend Announcement
• Neutral Sentiment: Upcoming earnings (quarterly report expected March 4) is the key near-term catalyst — Wall Street expects revenue/earnings growth, so results will likely drive the next leg of the move. Fool Preview
• Neutral Sentiment: Zacks and MarketBeat pieces lay out what to watch into earnings (AI revenue trajectory, semiconductor growth, guidance); they serve as checklists for the upcoming report rather than clear buys/sells. Zacks Earnings Preview
• Neutral Sentiment: Short-interest data published for February appears inconsistent/erroneous (shows zeros/NaN), so it’s not a reliable signal this cycle; treat short-interest moves with caution until corrected.
• Negative Sentiment: Hedge fund MIG Capital (Richard Merage) trimmed its Broadcom stake by 18,461 shares — a small selling signal that may amplify caution for some investors. MIG Capital Stake Trim
• Negative Sentiment: Some analyst commentary and previews suggest Broadcom may lack the specific combination of beats and upside in guidance to guarantee an earnings surprise, which raises downside risk into the report. Zacks Earnings Caution
• Negative Sentiment: Recent session-level weakness was reported in coverage notes, which could feed short-term profit-taking ahead of earnings. Zacks Market Note

Insider Buying and Selling

In other Broadcom news, CFO Kirsten M. Spears sold 30,000 shares of the firm's stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $347.82, for a total value of $10,434,600.00. Following the completion of the sale, the chief financial officer directly owned 277,237 shares of the company's stock, valued at $96,428,573.34. This trade represents a 9.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Henry Samueli sold 320,316 shares of the business's stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $400.53, for a total transaction of $128,296,167.48. Following the transaction, the director directly owned 37,326,540 shares in the company, valued at approximately $14,950,399,066.20. The trade was a 0.85% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 779,101 shares of company stock worth $283,804,325. 2.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on AVGO shares. Weiss Ratings reiterated a "buy (b)" rating on shares of Broadcom in a research report on Monday, December 29th. TD Cowen restated a "buy" rating on shares of Broadcom in a research report on Friday, December 12th. Wall Street Zen upgraded shares of Broadcom from a "hold" rating to a "buy" rating in a research report on Saturday, December 13th. Raymond James Financial set a $420.00 target price on shares of Broadcom and gave the stock an "outperform" rating in a research note on Thursday, November 20th. Finally, Barclays reaffirmed an "overweight" rating and issued a $500.00 price target (up from $450.00) on shares of Broadcom in a research note on Friday, December 12th. Two investment analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $433.13.

Broadcom Company 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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