Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 30.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 1,684,427 shares of the semiconductor manufacturer’s stock after acquiring an additional 395,521 shares during the quarter. Broadcom comprises about 0.8% of Thrivent Financial for Lutherans’ portfolio, making the stock its 9th biggest holding. Thrivent Financial for Lutherans’ holdings in Broadcom were worth $388,515,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. State Street Corp raised its position in Broadcom by 948.5% during the third quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock valued at $31,814,902,000 after purchasing an additional 166,844,263 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Broadcom by 976.6% in the 3rd quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock valued at $17,055,760,000 after purchasing an additional 89,975,941 shares in the last quarter. FMR LLC increased its stake in shares of Broadcom by 1,121.3% in the 3rd quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock valued at $15,594,088,000 after purchasing an additional 82,998,328 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of Broadcom by 842.4% during the 3rd quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer’s stock worth $6,209,758,000 after buying an additional 32,178,542 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Broadcom by 975.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer’s stock worth $5,833,894,000 after buying an additional 30,674,902 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the transaction, the director now owns 46,400 shares in the company, valued at $10,655,296. This represents a 7.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Check Kian Low sold 48,000 shares of Broadcom stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the completion of the sale, the director now directly owns 113,050 shares in the company, valued at approximately $26,606,317.50. This represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 184,738 shares of company stock worth $43,395,200. Insiders own 2.00% of the company’s stock.

Broadcom Trading Down 0.5 %

NASDAQ AVGO opened at $194.50 on Tuesday. Broadcom Inc. has a 52 week low of $119.76 and a 52 week high of $251.88. The business has a 50 day moving average price of $217.28 and a 200-day moving average price of $194.43. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The company has a market cap of $914.53 billion, a price-to-earnings ratio of 158.65, a P/E/G ratio of 2.29 and a beta of 1.01.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date is Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is 113.46%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. KeyCorp increased their target price on shares of Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. Hsbc Global Res upgraded Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Cantor Fitzgerald reissued an “overweight” rating and set a $300.00 price target on shares of Broadcom in a research note on Friday, March 7th. Benchmark reaffirmed a “buy” rating and issued a $255.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $231.48.

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.