TIAA Trust National Association Boosts Stock Holdings in Broadcom Inc. $AVGO

Key Points

• TIAA Trust National Association increased its Broadcom stake by 12.3% in the fourth quarter, adding 41,612 shares to bring its total to 379,953 shares valued at about $131.5 million.
• Other institutional investors also boosted positions, and overall hedge funds and institutions own 76.43% of Broadcom’s stock, signaling continued institutional confidence in the company.
• Broadcom’s recent quarterly results were strong, with EPS of $2.44 topping estimates and revenue rising 47.9% year over year to $22.19 billion, while analysts have largely maintained a bullish stance with multiple price-target increases.

TIAA Trust National Association grew its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 12.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 379,953 shares of the semiconductor manufacturer's stock after buying an additional 41,612 shares during the quarter. TIAA Trust National Association's holdings in Broadcom were worth $131,503,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Brown Brothers Harriman & Co. boosted its holdings in shares of Broadcom by 10.7% in the third quarter. Brown Brothers Harriman & Co. now owns 77,411 shares of the semiconductor manufacturer's stock worth $25,539,000 after buying an additional 7,499 shares during the last quarter. Dana Investment Advisors Inc. boosted its holdings in shares of Broadcom by 2.6% in the third quarter. Dana Investment Advisors Inc. now owns 173,759 shares of the semiconductor manufacturer's stock worth $57,325,000 after buying an additional 4,442 shares during the last quarter. Sovran Advisors LLC boosted its holdings in shares of Broadcom by 121.3% in the fourth quarter. Sovran Advisors LLC now owns 30,631 shares of the semiconductor manufacturer's stock worth $10,507,000 after buying an additional 16,789 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its position in Broadcom by 406.1% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,994 shares of the semiconductor manufacturer's stock valued at $4,151,000 after purchasing an additional 9,624 shares in the last quarter. Finally, Siligmueller & Norvid Wealth Advisors LLC purchased a new position in Broadcom during the third quarter valued at $762,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insider Activity at Broadcom

In other news, insider S. Ram Velaga sold 38,841 shares of the business's stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total value of $12,491,265.60. Following the transaction, the insider owned 96,147 shares of the company's stock, valued at approximately $30,920,875.20. The trade was a 28.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 50,488 shares of the business's stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total transaction of $16,236,940.80. Following the completion of the transaction, the insider directly owned 278,141 shares in the company, valued at $89,450,145.60. This trade represents a 15.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 324,282 shares of company stock worth $106,425,249 over the last ninety days. 1.90% of the stock is owned by corporate insiders.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Several analysts and commentators argue the pullback is overdone, pointing to Broadcom’s strong fundamentals: revenue growth of about 48%, AI semiconductor revenue up 143%, and more than $30 billion in AI bookings. Bullish pieces say the stock looks attractive on cash flow and long-term AI demand. Article Title
• Positive Sentiment: Broadcom also gained support from a major AI infrastructure tie-up with Apollo Global Management and Blackstone, which are backing a $35 billion capacity expansion for Anthropic using Broadcom’s custom chips and networking gear. That reinforces the company’s role in the AI buildout. Article Title
• Neutral Sentiment: Some analysts remain constructive on the stock over the long term, citing expected EPS growth of more than 50% over the next five years and multiple recent upgrades/price-target increases. Article Title
• Neutral Sentiment: Other coverage highlights a “buy the dip” case after the post-earnings reset, with investors watching whether AI demand and margins stay strong enough to justify the premium valuation. Article Title
• Negative Sentiment: The main headwind is that Broadcom’s stock has been hit by a broader chip rotation/correction, with semiconductor names sold off as investors take profits from the AI trade. Broadcom has been singled out as one of the biggest laggards in that move. Article Title
• Negative Sentiment: Investors are also worried that Broadcom’s premium valuation leaves little room for error after its strong quarter, especially as guidance for AI revenue was viewed as less aggressive than hoped. Article Title
• Negative Sentiment: New commentary from Broadcom’s CEO that the company will focus only on chips, not a broader AI platform strategy, appears to have unnerved some AI-focused investors and added to the selloff. Article Title

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $372.10 on Thursday. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01. Broadcom Inc. has a 1-year low of $243.80 and a 1-year high of $495.00. The company has a market capitalization of $1.76 trillion, a P/E ratio of 62.02, a P/E/G ratio of 0.71 and a beta of 1.41. The firm's 50 day simple moving average is $401.36 and its two-hundred day simple moving average is $362.87.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.04. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The business had revenue of $22.19 billion for the quarter, compared to the consensus estimate of $22.13 billion. During the same quarter in the previous year, the firm earned $1.58 earnings per share. The company's revenue for the quarter was up 47.9% on a year-over-year basis. Research analysts expect that Broadcom Inc. will post 9.97 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, June 22nd. Broadcom's payout ratio is 43.33%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on AVGO shares. JPMorgan Chase & Co. lifted their target price on Broadcom from $500.00 to $580.00 and gave the company an "overweight" rating in a research report on Thursday, June 4th. Evercore reaffirmed an "outperform" rating and issued a $582.00 price objective on shares of Broadcom in a research note on Tuesday, May 19th. KeyCorp reaffirmed an "overweight" rating and issued a $575.00 price objective (up from $500.00) on shares of Broadcom in a research note on Thursday, June 4th. UBS Group set a $485.00 price target on shares of Broadcom and gave the company a "buy" rating in a report on Thursday, June 4th. Finally, TD Cowen reaffirmed a "buy" rating and set a $500.00 price target on shares of Broadcom in a report on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Broadcom presently has an average rating of "Moderate Buy" and a consensus price target of $490.13.

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.

Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc. (NASDAQ:AVGO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.