Broadcom Inc. $AVGO Stake Boosted by Thrivent Financial for Lutherans

Key Points

• Thrivent Financial for Lutherans increased its Broadcom stake by 3.2% in the fourth quarter, adding 68,526 shares to reach 2.23 million shares valued at about $772.1 million.
• Broadcom remains heavily owned by institutions, with firms like Vanguard and Invesco also boosting positions; overall, 76.43% of the stock is held by hedge funds and other institutional investors.
• Broadcom reported strong quarterly results, beating EPS and revenue estimates, while analysts remain mostly bullish with an average Moderate Buy rating and a consensus price target of $448.10.

Thrivent Financial for Lutherans lifted its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,230,482 shares of the semiconductor manufacturer's stock after buying an additional 68,526 shares during the period. Broadcom makes up 1.4% of Thrivent Financial for Lutherans' holdings, making the stock its 8th biggest position. Thrivent Financial for Lutherans' holdings in Broadcom were worth $772,122,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Broadcom by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer's stock worth $167,064,997,000 after buying an additional 3,919,715 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Broadcom by 1.8% in the third quarter. Invesco Ltd. now owns 39,149,651 shares of the semiconductor manufacturer's stock worth $12,915,861,000 after buying an additional 700,021 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Broadcom by 2.3% in the third quarter. Legal & General Group Plc now owns 33,450,786 shares of the semiconductor manufacturer's stock worth $11,035,749,000 after buying an additional 748,709 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of Broadcom by 4.0% in the third quarter. Franklin Resources Inc. now owns 29,511,195 shares of the semiconductor manufacturer's stock worth $9,736,038,000 after buying an additional 1,124,590 shares in the last quarter. Finally, Amundi lifted its position in Broadcom by 3.3% during the third quarter. Amundi now owns 22,216,816 shares of the semiconductor manufacturer's stock worth $7,453,320,000 after buying an additional 716,523 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider S. Ram Velaga sold 8,000 shares of Broadcom stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $370.52, for a total transaction of $2,964,160.00. Following the completion of the sale, the insider directly owned 57,932 shares in the company, valued at $21,464,964.64. This trade represents a 12.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark David Brazeal sold 50,488 shares of Broadcom stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total transaction of $16,236,940.80. Following the sale, the insider owned 278,141 shares of the company's stock, valued at approximately $89,450,145.60. This represents a 15.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 324,282 shares of company stock valued at $106,425,249. 1.90% of the stock is currently owned by company insiders.

Broadcom Price Performance

NASDAQ:AVGO opened at $417.76 on Thursday. Broadcom Inc. has a 52 week low of $226.18 and a 52 week high of $442.36. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $1.98 trillion, a P/E ratio of 81.59, a P/E/G ratio of 0.85 and a beta of 1.43. The stock's fifty day moving average is $370.41 and its two-hundred day moving average is $355.37.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $19.31 billion during the quarter, compared to the consensus estimate of $19.10 billion. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The company's quarterly revenue was up 29.5% on a year-over-year basis. During the same period last year, the company earned $1.60 EPS. Equities analysts expect that Broadcom Inc. will post 9.97 EPS for the current year.

Broadcom Dividend Announcement

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

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom deepened its relationship with the London Stock Exchange Group (LSEG) through a new five-year agreement centered on VMware Cloud Foundation, which should support recurring software revenue and highlights demand for Broadcom’s enterprise cloud and infrastructure products. Article Title
• Positive Sentiment: Applied Materials named Broadcom as an EPIC Innovation Partner, signaling collaboration on advanced packaging technologies that are critical for next-generation AI chips and systems. That reinforces Broadcom’s position as a key supplier in the AI infrastructure buildout. Article Title
• Positive Sentiment: Wall Street continues to view Broadcom favorably, with multiple recent analyst price targets raised or reiterated at bullish levels. Investors are still focusing on Broadcom’s AI exposure and custom chip momentum. Article Title
• Neutral Sentiment: A Zacks screen highlighted Broadcom as a high-ROE “cash cow” alongside other stocks that may hold up better during a tech slump. This is more of a relative-strength mention than a new company-specific catalyst. Article Title
• Neutral Sentiment: Another Zacks item discussed whether brokers’ opinions matter for Broadcom, but it did not add a clear new upgrade, downgrade, or earnings surprise. Article Title
• Neutral Sentiment: Broader market articles noted a selloff in major tech stocks and the Magnificent 7, which can weigh on AVGO sentiment even when company-specific news remains positive. Article Title
• Negative Sentiment: One Seeking Alpha piece argued that Broadcom’s AI visibility has improved, but the valuation multiple has not expanded as much as expected, suggesting some investor caution after the stock’s strong run. Article Title

Analysts Set New Price Targets

A number of brokerages recently commented on AVGO. UBS Group reiterated a "buy" rating and set a $490.00 price objective (up from $475.00) on shares of Broadcom in a research report on Monday. Wolfe Research upgraded Broadcom from a "peer perform" rating to an "outperform" rating and set a $400.00 price objective on the stock in a research report on Friday, January 30th. Weiss Ratings downgraded Broadcom from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, April 24th. Bank of America reduced their price objective on Broadcom from $500.00 to $450.00 and set a "buy" rating on the stock in a research report on Thursday, March 5th. Finally, Seaport Research Partners reiterated a "neutral" rating on shares of Broadcom in a research report on Wednesday, April 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $448.10.

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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