8,898 Shares in Broadcom Inc. $AVGO Bought by ICONIQ Capital LLC

Key Points

• ICONIQ Capital acquired 8,898 Broadcom shares worth approximately $3.36 million in the second quarter, while institutional investors collectively own 76.43% of AVGO.
• Broadcom reported strong fiscal third-quarter results, with revenue up 85.5% year over year to $29.59 billion and EPS of $3.32, beating analyst estimates. AI semiconductor revenue surged 221% to $16.7 billion.
• Despite positive long-term AI projections and a “Moderate Buy” consensus rating, investor concerns include slightly weaker-than-expected fourth-quarter revenue guidance, supply constraints, customer concentration and substantial insider selling.

ICONIQ Capital LLC acquired a new position in Broadcom Inc. (NASDAQ:AVGO - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 8,898 shares of the semiconductor manufacturer's stock, valued at approximately $3,361,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Maxi Investments CY Ltd acquired a new stake in shares of Broadcom during the second quarter worth $18,303,000. Blue Whale Capital LLP bought a new position in Broadcom in the second quarter worth about $200,388,000. Osbon Capital Management LLC acquired a new position in Broadcom in the second quarter valued at approximately $273,000. OMERS ADMINISTRATION Corp acquired a new position in Broadcom in the second quarter valued at approximately $276,562,000. Finally, Osmosis Investment Management UK Ltd bought a new position in shares of Broadcom during the second quarter valued at approximately $49,248,000. Institutional investors own 76.43% of the company's stock.

Insider Buying and Selling

In related news, Director Gayla Delly sold 1,890 shares of Broadcom stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $385.38, for a total value of $728,368.20. Following the transaction, the director directly owned 31,326 shares in the company, valued at $12,072,413.88. The trade was a 5.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Harry L. You bought 1,000 shares of the business's stock in a transaction dated Thursday, June 11th. The shares were bought at an average cost of $373.57 per share, for a total transaction of $373,570.00. Following the completion of the transaction, the director directly owned 38,466 shares of the company's stock, valued at $14,369,743.62. This trade represents a 2.67% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have sold 61,644 shares of company stock valued at $24,016,214. Insiders own 1.90% of the company's stock.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom reported fiscal third-quarter revenue of $29.6 billion, up 86% year over year, and non-GAAP EPS of $3.32, exceeding estimates of $29.43 billion and $3.22. AI semiconductor revenue surged 221% to $16.7 billion, while free cash flow reached $13.7 billion. Broadcom fiscal third-quarter results
• Positive Sentiment: Management raised its fiscal 2027 AI revenue outlook to $115 billion and projected $230 billion in fiscal 2028, alongside confidence in fiscal 2027 EPS of at least $30. Analysts including Macquarie, Cantor Fitzgerald, BMO and Rosenblatt responded with upgrades or higher price targets, supporting the long-term AI investment case. Broadcom AI growth outlook
• Neutral Sentiment: Broadcom declared a quarterly dividend of $0.65 per share, payable September 30 to shareholders of record September 21. The dividend provides modest income but is unlikely to drive the stock’s near-term performance. Broadcom dividend announcement
• Negative Sentiment: Fiscal fourth-quarter revenue guidance of approximately $34.8 billion was below Wall Street’s roughly $35.0 billion expectation. Investors viewed the outlook as insufficient given AVGO’s premium valuation and elevated AI expectations, overshadowing the earnings beat. Broadcom forecasts quarterly revenue below estimates
• Negative Sentiment: Investors are also weighing supply constraints involving power, land, chips and substrates, along with customer concentration among major hyperscalers such as Alphabet, Anthropic and OpenAI. Competition from custom-chip rivals, including Marvell, adds uncertainty to the ambitious long-term forecast. Broadcom AI supply constraints
• Negative Sentiment: Recent disclosures that Third Point exited its Broadcom position and that company insiders have overwhelmingly sold shares may reinforce profit-taking concerns, although these transactions are not necessarily indicative of deteriorating fundamentals. Dan Loeb exits Broadcom position

Broadcom Stock Performance

NASDAQ:AVGO opened at $357.16 on Friday. The company has a 50-day moving average of $383.71 and a 200-day moving average of $377.36. The firm has a market cap of $1.70 trillion, a price-to-earnings ratio of 45.61, a price-to-earnings-growth ratio of 0.70 and a beta of 1.44. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. Broadcom Inc. has a twelve month low of $289.96 and a twelve month high of $495.00.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 EPS for the quarter, beating the consensus estimate of $3.22 by $0.10. The business had revenue of $29.59 billion during the quarter, compared to analyst estimates of $29.24 billion. Broadcom had a net margin of 42.94% and a return on equity of 50.76%. The business's quarterly revenue was up 85.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.69 earnings per share. Analysts forecast that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, September 21st. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. Broadcom's dividend payout ratio (DPR) is currently 43.33%.

Analysts Set New Price Targets

Several brokerages recently issued reports on AVGO. Bank of America raised their price target on Broadcom from $450.00 to $530.00 and gave the stock a "buy" rating in a report on Thursday, June 4th. Weiss Ratings downgraded Broadcom from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, July 30th. Erste Group Bank reaffirmed a "hold" rating on shares of Broadcom in a research report on Tuesday, July 7th. Morgan Stanley reiterated an "overweight" rating and issued a $505.00 target price (up from $502.00) on shares of Broadcom in a research note on Thursday. Finally, Truist Financial reduced their price target on shares of Broadcom from $550.00 to $520.00 and set a "buy" rating for the company in a report on Thursday. Thirty-one investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $501.77.

Broadcom 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.

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