Broadcom Inc. $AVGO Shares Acquired by ICONIQ Capital LLC

Key Points

• ICONIQ Capital LLC increased its stake in Broadcom by 296.9% in Q3, buying 320,179 shares to hold 428,009 shares worth about $141.2 million, making AVGO its 11th-largest position (~1.8% of holdings).
• Broadcom's fundamentals and AI exposure are supporting optimism: the latest quarter beat estimates, management cited roughly $12 billion of AI revenue for FY25 and stepped up buybacks, and analysts are mostly bullish with a consensus "Moderate Buy" and an average price target near $435.30.
• At the same time insiders have been net sellers — including CEO Hock E. Tan's 130,000-share sale — with 429,844 insider shares sold (~$145.6M) over 90 days, even as institutional ownership remains high at about 76.4%.

ICONIQ Capital LLC increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 296.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 428,009 shares of the semiconductor manufacturer's stock after buying an additional 320,179 shares during the quarter. Broadcom comprises approximately 1.8% of ICONIQ Capital LLC's holdings, making the stock its 11th largest position. ICONIQ Capital LLC's holdings in Broadcom were worth $141,204,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Broadcom in the 2nd quarter worth about $18,579,549,000. Vanguard Group Inc. grew its position in Broadcom by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 483,442,939 shares of the semiconductor manufacturer's stock worth $133,261,046,000 after purchasing an additional 6,222,802 shares during the last quarter. Edgewood Management LLC bought a new position in Broadcom in the 2nd quarter worth about $1,571,438,000. Arrowstreet Capital Limited Partnership increased its stake in shares of Broadcom by 499.4% in the third quarter. Arrowstreet Capital Limited Partnership now owns 5,634,232 shares of the semiconductor manufacturer's stock valued at $1,858,789,000 after purchasing an additional 4,694,313 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Broadcom by 115.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 6,017,340 shares of the semiconductor manufacturer's stock valued at $1,658,680,000 after buying an additional 3,224,739 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Wall Street remains highly bullish — nearly all covering analysts rate AVGO Buy and median price targets sit well above the current level, supporting upside expectations. Read More.
• Positive Sentiment: Company fundamentals and guidance are backing the AI story: recent quarterly results beat estimates, Broadcom reported large AI revenue (reported ~$12B FY25) and guided substantial AI revenue for the quarter — commentary that validates continued demand from hyperscalers and AI custom chip builds. Read More.
• Positive Sentiment: Capital return activity is notable — Broadcom is stepping up buybacks, which can support the share price by reducing float and signaling management confidence. Read More.
• Positive Sentiment: Product and roadmap news: Broadcom announced availability of the Taurus™ BCM83640, reinforcing its competitive position in networking and AI infrastructure components. Product cadence helps underwrite medium‑term revenue growth. Read More.
• Neutral Sentiment: Political/investor-interest signal: multiple members of Congress disclosed buys of AVGO — a datapoint that can attract retail attention but is informational rather than a direct catalyst. Read More.
• Negative Sentiment: Institutional trimming: Ameriprise disclosed a ~6.6% reduction in its AVGO position, a small headwind that could add selling pressure if other large holders follow suit. Read More.

Insider Activity

In related news, insider Charlie B. Kawwas sold 1,928 shares of the stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $327.80, for a total value of $631,998.40. Following the completion of the sale, the insider directly owned 23,582 shares of the company's stock, valued at approximately $7,730,179.60. This represents a 7.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Hock E. Tan sold 130,000 shares of the firm's stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $326.02, for a total value of $42,382,600.00. Following the sale, the chief executive officer owned 595,638 shares of the company's stock, valued at $194,189,900.76. The trade was a 17.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 429,844 shares of company stock valued at $145,624,987 in the last ninety days. Corporate insiders own 1.90% of the company's stock.

Analysts Set New Price Targets

AVGO has been the subject of several analyst reports. Citigroup boosted their price objective on Broadcom from $458.00 to $475.00 and gave the stock a "buy" rating in a research report on Thursday, March 5th. TD Cowen reaffirmed a "buy" rating on shares of Broadcom in a research note on Friday, December 12th. Wall Street Zen raised Broadcom from a "hold" rating to a "buy" rating in a research note on Saturday, December 13th. Royal Bank Of Canada lowered their price target on Broadcom from $370.00 to $340.00 and set a "sector perform" rating on the stock in a report on Monday, March 2nd. Finally, Wolfe Research upgraded shares of Broadcom from a "peer perform" rating to an "outperform" rating and set a $400.00 price objective on the stock in a research note on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Broadcom presently has a consensus rating of "Moderate Buy" and a consensus price target of $435.30.

Broadcom Stock Up 0.9%

Shares of NASDAQ:AVGO opened at $324.92 on Tuesday. The firm has a 50 day simple moving average of $332.36 and a 200 day simple moving average of $345.10. Broadcom Inc. has a 52 week low of $138.10 and a 52 week high of $414.61. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.73 and a current ratio of 1.90. The company has a market cap of $1.54 trillion, a PE ratio of 63.46, a price-to-earnings-growth ratio of 0.69 and a beta of 1.22.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.02. The firm had revenue of $19.31 billion for the quarter, compared to analysts' expectations of $19.10 billion. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The company's quarterly revenue was up 29.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.60 EPS. As a group, research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 23rd will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Monday, March 23rd. Broadcom's payout ratio is presently 50.78%.

About Broadcom

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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