Thornburg Investment Management Inc. Sells 146,530 Shares of Broadcom Inc. $AVGO

by · The Markets Daily

Thornburg Investment Management Inc. decreased its position in shares of Broadcom Inc. (NASDAQ:AVGO – Free Report) by 6.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,057,995 shares of the semiconductor manufacturer’s stock after selling 146,530 shares during the quarter. Broadcom comprises 8.9% of Thornburg Investment Management Inc.’s holdings, making the stock its 3rd biggest position. Thornburg Investment Management Inc.’s holdings in Broadcom were worth $712,272,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the company. Tobias Financial Advisors Inc. increased its position in Broadcom by 52.6% during the fourth quarter. Tobias Financial Advisors Inc. now owns 4,183 shares of the semiconductor manufacturer’s stock worth $1,448,000 after buying an additional 1,442 shares during the period. Towarzystwo Funduszy Inwestycyjnych PZU SA grew its holdings in shares of Broadcom by 51.8% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 16,811 shares of the semiconductor manufacturer’s stock worth $5,818,000 after buying an additional 5,735 shares during the last quarter. Tenzing Financial LLC purchased a new position in shares of Broadcom during the fourth quarter worth about $925,000. TritonPoint Partners LLC purchased a new position in shares of Broadcom during the fourth quarter worth about $2,256,000. Finally, Zinnia Wealth Advisory LLC purchased a new position in shares of Broadcom during the fourth quarter worth about $408,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Price Performance

AVGO stock opened at $393.94 on Tuesday. The firm has a 50 day moving average of $405.85 and a 200-day moving average of $363.29. Broadcom Inc. has a 12-month low of $244.17 and a 12-month high of $495.00. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. The company has a market cap of $1.87 trillion, a price-to-earnings ratio of 65.66, a PEG ratio of 0.67 and a beta of 1.41.

Broadcom (NASDAQ:AVGO – Get Free Report) last posted its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.04. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The company had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $22.13 billion. During the same period last year, the firm earned $1.58 EPS. The company’s revenue for the quarter was up 47.9% on a year-over-year basis. As a group, equities analysts expect that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, June 22nd. Broadcom’s dividend payout ratio (DPR) is presently 43.33%.

Insider Activity at Broadcom

In related news, Director Justine Page sold 2,018 shares of Broadcom stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $353.00, for a total transaction of $712,354.00. Following the completion of the transaction, the director directly owned 18,164 shares in the company, valued at $6,411,892. The trade was a 10.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Charlie B. Kawwas sold 10,000 shares of Broadcom stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $345.23, for a total value of $3,452,300.00. Following the transaction, the insider owned 787,184 shares of the company’s stock, valued at $271,759,532.32. This represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 51,233 shares of company stock worth $18,125,134. 1.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on AVGO shares. KeyCorp reissued an “overweight” rating and set a $575.00 price target (up from $500.00) on shares of Broadcom in a report on Thursday, June 4th. Jefferies Financial Group set a $550.00 price target on Broadcom and gave the stock a “buy” rating in a report on Thursday, June 4th. JPMorgan Chase & Co. raised their price target on Broadcom from $500.00 to $580.00 and gave the stock an “overweight” rating in a report on Thursday, June 4th. Truist Financial raised their price target on Broadcom from $545.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, June 4th. Finally, UBS Group set a $485.00 price target on Broadcom and gave the stock a “buy” rating in a report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $490.13.

View Our Latest Research Report on AVGO

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

  • Positive Sentiment: Director Harry L. You bought 1,000 Broadcom shares in a disclosed SEC filing, a vote of confidence that can reassure investors about the company’s outlook. SEC Form 4 filing
  • Positive Sentiment: Recent articles continue to frame Broadcom as a major beneficiary of the AI infrastructure buildout, with investors focusing on its custom compute, networking, and semiconductor exposure. Investopedia article
  • Positive Sentiment: Broadcom was included in bullish commentary about “beaten down” AI infrastructure stocks, suggesting some investors see the recent pullback as a buying opportunity rather than a fundamental deterioration. 247WallSt article
  • Positive Sentiment: Wall Street Zen reportedly upgraded Broadcom to Strong-Buy, adding to the bullish analyst tone around the stock. American Banking News article
  • Neutral Sentiment: Some coverage compared Broadcom with other AI infrastructure names and noted that competitors may have stronger near-term upside, which could temper enthusiasm but does not change Broadcom’s long-term AI thesis. Zacks article
  • Negative Sentiment: Recent market commentary said Broadcom’s stock pulled back after record quarterly results because investors were focused on cautious AI guidance and valuation concerns, which may be weighing on sentiment. Yahoo Finance article

Broadcom Profile

(Free Report)

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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