Thrivent Financial for Lutherans Reduces Position in Broadcom Inc. $AVGO

Thrivent Financial for Lutherans trimmed its position in Broadcom Inc. (NASDAQ:AVGO) by 70.6% during the 2nd quarter, Holdings Channel.com reports. The fund owned 228,359 shares of the semiconductor manufacturer’s stock after selling 549,054 shares during the period. Broadcom accounts for 0.8% of Thrivent Financial for Lutherans’ investment portfolio, making the stock its 19th biggest holding. Thrivent Financial for Lutherans’ holdings in Broadcom were worth $62,718,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AVGO. Sawyer & Company Inc boosted its position in Broadcom by 62.1% in the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock valued at $26,000 after buying an additional 36 shares during the last quarter. PFS Partners LLC lifted its stake in Broadcom by 38.4% during the 2nd quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer’s stock valued at $38,000 after acquiring an additional 38 shares during the period. Costello Asset Management INC boosted its holdings in shares of Broadcom by 1.5% in the 2nd quarter. Costello Asset Management INC now owns 2,528 shares of the semiconductor manufacturer’s stock valued at $697,000 after acquiring an additional 38 shares during the last quarter. Walkner Condon Financial Advisors LLC increased its stake in shares of Broadcom by 1.0% in the second quarter. Walkner Condon Financial Advisors LLC now owns 3,944 shares of the semiconductor manufacturer’s stock worth $1,087,000 after acquiring an additional 38 shares during the period. Finally, Carson Advisory Inc. raised its holdings in shares of Broadcom by 2.0% during the second quarter. Carson Advisory Inc. now owns 2,023 shares of the semiconductor manufacturer’s stock worth $558,000 after purchasing an additional 39 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Performance

AVGO opened at $354.42 on Thursday. The firm’s fifty day simple moving average is $348.80 and its two-hundred day simple moving average is $298.58. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $386.48. The company has a market cap of $1.67 trillion, a price-to-earnings ratio of 90.41, a PEG ratio of 1.17 and a beta of 1.19. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.03. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The firm had revenue of $15.95 billion during the quarter, compared to the consensus estimate of $15.82 billion. During the same quarter in the prior year, the firm earned $1.24 EPS. The company’s revenue for the quarter was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. Equities analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. Broadcom’s dividend payout ratio is presently 60.20%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on AVGO shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Broadcom in a report on Thursday, November 13th. Truist Financial upped their target price on Broadcom from $295.00 to $365.00 and gave the stock a “buy” rating in a research note on Friday, September 5th. Morgan Stanley set a $409.00 price target on Broadcom and gave the company an “overweight” rating in a research report on Tuesday, October 14th. Evercore ISI upped their price objective on Broadcom from $342.00 to $403.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 15th. Finally, Sanford C. Bernstein lifted their target price on shares of Broadcom from $295.00 to $400.00 and gave the company an “outperform” rating in a report on Friday, September 5th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $372.52.

Insiders Place Their Bets

In other Broadcom news, insider Mark David Brazeal sold 16,558 shares of the stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $347.61, for a total value of $5,755,726.38. Following the completion of the sale, the insider owned 329,302 shares in the company, valued at approximately $114,468,668.22. This represents a 4.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Hock E. Tan sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $339.58, for a total value of $33,958,000.00. Following the transaction, the chief executive officer owned 725,638 shares in the company, valued at approximately $246,412,152.04. This represents a 12.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders acquired 3,550 shares of company stock valued at $1,227,869 and sold 665,271 shares valued at $225,483,192. 2.00% of the stock is currently owned by corporate insiders.

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.