Thrivent Financial for Lutherans Has $622.52 Million Stock Holdings in Broadcom Inc. $AVGO

Thrivent Financial for Lutherans lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 9.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,259,208 shares of the semiconductor manufacturer’s stock after purchasing an additional 196,570 shares during the period. Broadcom accounts for 1.3% of Thrivent Financial for Lutherans’ holdings, making the stock its 7th biggest holding. Thrivent Financial for Lutherans’ holdings in Broadcom were worth $622,522,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. MASTERINVEST Kapitalanlage GmbH bought a new position in Broadcom during the 2nd quarter worth $21,771,000. Nautilus Advisors LLC increased its stake in shares of Broadcom by 16.3% in the second quarter. Nautilus Advisors LLC now owns 1,795 shares of the semiconductor manufacturer’s stock valued at $495,000 after buying an additional 252 shares during the period. Promus Capital LLC increased its stake in shares of Broadcom by 59.3% in the second quarter. Promus Capital LLC now owns 430 shares of the semiconductor manufacturer’s stock valued at $119,000 after buying an additional 160 shares during the period. Silverlake Wealth Management LLC bought a new position in shares of Broadcom during the second quarter worth about $288,000. Finally, BLVD Private Wealth LLC acquired a new position in shares of Broadcom in the second quarter worth approximately $660,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AVGO. UBS Group reissued a “buy” rating and set a $472.00 target price (up previously from $415.00) on shares of Broadcom in a research report on Monday, December 1st. Raymond James Financial set a $420.00 price objective on shares of Broadcom and gave the company an “outperform” rating in a research note on Thursday, November 20th. Mizuho lifted their target price on shares of Broadcom from $435.00 to $450.00 and gave the stock an “outperform” rating in a research note on Friday. Citigroup reaffirmed a “buy” rating and set a $480.00 price target (up previously from $415.00) on shares of Broadcom in a research report on Friday. Finally, Barclays reiterated an “overweight” rating and set a $500.00 price target (up from $450.00) on shares of Broadcom in a report on Friday. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Broadcom currently has a consensus rating of “Buy” and a consensus target price of $435.85.

Insider Activity

In other news, insider Mark David Brazeal sold 16,558 shares of the company’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total transaction of $5,755,726.38. Following the transaction, the insider directly owned 329,302 shares of the company’s stock, valued at $114,468,668.22. This represents a 4.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Charlie B. Kawwas sold 3,893 shares of the stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $347.82, for a total value of $1,354,063.26. Following the completion of the transaction, the insider owned 25,295 shares in the company, valued at approximately $8,798,106.90. This represents a 13.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 836,633 shares of company stock valued at $303,612,352. Corporate insiders own 2.00% of the company’s stock.

Broadcom Trading Down 11.4%

NASDAQ:AVGO opened at $359.93 on Monday. Broadcom Inc. has a 12 month low of $138.10 and a 12 month high of $414.61. The company has a current ratio of 1.71, a quick ratio of 1.58 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $1.70 trillion, a price-to-earnings ratio of 75.62, a PEG ratio of 1.22 and a beta of 1.19. The firm has a fifty day simple moving average of $363.17 and a two-hundred day simple moving average of $318.50.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $0.08. The company had revenue of $18.02 billion for the quarter, compared to analysts’ expectations of $17.46 billion. Broadcom had a net margin of 36.20% and a return on equity of 37.45%. The business’s revenue was up 28.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.42 EPS. Analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 22nd will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.7%. This is a boost from Broadcom’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Monday, December 22nd. Broadcom’s payout ratio is 49.58%.

Broadcom 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.