Broadcom Inc. $AVGO Shares Bought by Flputnam Investment Management Co.

Key Points

• Flputnam Investment Management increased its Broadcom stake by 30.6% in the second quarter, adding 124,047 shares to reach 529,406 shares valued at approximately $200 million. Institutional investors collectively own 76.43% of AVGO.
• Broadcom reported quarterly earnings and revenue above expectations, with revenue rising 85.5% year over year. Analysts remain broadly bullish, with a “Moderate Buy” consensus rating and an average price target of $505.97.
• The company’s AI outlook remains a major catalyst, including projected AI semiconductor revenue of $230 billion by 2028, although elevated valuation, execution demands, and weaker-than-expected near-term guidance have raised investor concerns.

Flputnam Investment Management Co. increased its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 30.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 529,406 shares of the semiconductor manufacturer's stock after purchasing an additional 124,047 shares during the quarter. Broadcom makes up 2.4% of Flputnam Investment Management Co.'s investment portfolio, making the stock its 7th largest holding. Flputnam Investment Management Co.'s holdings in Broadcom were worth $199,983,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also made changes to their positions in AVGO. State Street Corp grew its holdings in shares of Broadcom by 2.7% during the fourth quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer's stock valued at $65,788,194,000 after buying an additional 5,040,801 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Broadcom by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 111,277,280 shares of the semiconductor manufacturer's stock valued at $38,396,634,000 after acquiring an additional 1,548,699 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Broadcom by 3.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 85,546,083 shares of the semiconductor manufacturer's stock valued at $29,607,500,000 after purchasing an additional 2,491,644 shares in the last quarter. Norges Bank purchased a new position in Broadcom in the fourth quarter valued at about $24,252,196,000. Finally, Bank of America Corp DE raised its stake in shares of Broadcom by 4.6% during the 2nd quarter. Bank of America Corp DE now owns 61,423,013 shares of the semiconductor manufacturer's stock worth $23,202,543,000 after purchasing an additional 2,685,916 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Insiders Place Their Bets

In other Broadcom news, Director Gayla Delly sold 1,890 shares of Broadcom stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $385.38, for a total transaction of $728,368.20. Following the sale, the director directly owned 31,326 shares of the company's stock, valued at approximately $12,072,413.88. The trade was a 5.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark Brazeal sold 25,000 shares of the firm's stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $401.33, for a total value of $10,033,250.00. Following the transaction, the insider owned 194,989 shares of the company's stock, valued at $78,254,935.37. This trade represents a 11.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 61,644 shares of company stock worth $24,016,214 over the last quarter. Company insiders own 1.90% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on AVGO. Evercore set a $578.00 price target on shares of Broadcom in a research note on Thursday, September 3rd. JPMorgan Chase & Co. increased their price target on Broadcom from $500.00 to $580.00 and gave the company an "overweight" rating in a report on Thursday, June 4th. Wells Fargo & Company reiterated an "overweight" rating and issued a $545.00 target price (up from $430.00) on shares of Broadcom in a report on Thursday, May 14th. DA Davidson set a $350.00 target price on shares of Broadcom and gave the stock a "neutral" rating in a research report on Friday, September 4th. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $515.00 price target (up from $430.00) on shares of Broadcom in a report on Thursday, June 4th. Thirty equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $505.97.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom reported record AI semiconductor revenue of approximately $16.7 billion and projected that AI-related revenue could reach $230 billion by 2028. Custom AI accelerators are becoming a larger contributor to revenue and profits, supporting the long-term bullish case. Broadcom Forecasts $230 Billion in AI Semiconductor Revenue in 2028
• Positive Sentiment: The 2028 outlook has encouraged bullish analysts and investors, with some arguing that accelerating AI chip sales could eventually support a share price above $900. Cantor also raised its price target to $600, indicating substantial potential upside if Broadcom executes. Top Analyst sets jaw-dropping Broadcom stock target after earnings
• Positive Sentiment: Broadcom’s earnings call highlighted strong demand for custom AI accelerators and a multiyear customer pipeline. Increasing spending by major cloud and AI companies, including OpenAI, could expand the addressable market for Broadcom’s networking and custom silicon products. Broadcom Q3 2026 Earnings Call Transcript
• Neutral Sentiment: Technical coverage notes that AVGO has underperformed the broader market and remains well below its 52-week high. The next important signal will be whether the stock can stabilize after the post-earnings breakdown. GOOGL, AVGO, AMD and LITE
• Negative Sentiment: Fiscal fourth-quarter revenue guidance fell short of Wall Street expectations, creating concern that near-term growth may not match the market’s aggressive AI assumptions. Truist responded by lowering its price target, even while acknowledging the stronger long-term outlook. Truist cuts Broadcom stock target
• Negative Sentiment: Some investors view the $230 billion AI forecast as increasingly expensive to justify, given AVGO’s elevated valuation and execution requirements. The stock’s reaction shows that excellent results may not be enough when expectations and future growth are already exceptionally high. Broadcom: The $230 Billion AI Dream Is Getting Expensive

Broadcom Stock Down 1.1%

AVGO stock opened at $364.38 on Thursday. Broadcom Inc. has a twelve month low of $289.96 and a twelve month high of $495.00. The company has a quick ratio of 2.29, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. The company has a market cap of $1.73 trillion, a PE ratio of 46.54 and a beta of 1.44. The business's 50-day simple moving average is $382.99 and its 200 day simple moving average is $378.23.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share for the quarter, topping the consensus estimate of $3.22 by $0.10. The company had revenue of $29.59 billion for the quarter, compared to analyst estimates of $29.24 billion. Broadcom had a return on equity of 48.33% and a net margin of 42.94%.Broadcom's revenue for the quarter was up 85.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.69 EPS. On average, research analysts anticipate that Broadcom Inc. will post 10.36 earnings per share for the current year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st will be issued 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 of this dividend is Monday, September 21st. Broadcom's dividend payout ratio (DPR) is presently 33.21%.

About Broadcom

Broadcom Inc NASDAQ: AVGO designs, develops and supplies semiconductor and infrastructure software products for businesses, telecommunications providers and other organizations worldwide. Its semiconductor portfolio includes networking and connectivity components, custom application-specific integrated circuits, broadband and wireless communications products, storage adapters, optical components, and industrial solutions.

The company also provides enterprise infrastructure software through businesses including VMware, which offers virtualization and private- and hybrid-cloud solutions; mainframe and enterprise software; and cybersecurity products.

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