Broadcom Inc. $AVGO Shares Purchased by Spinnaker Trust

Key Points

• Spinnaker Trust increased its Broadcom stake by 6.5% in the second quarter, acquiring 3,550 additional shares for a total of 57,860 shares valued at approximately $21.9 million. Institutional investors own 76.43% of Broadcom.
• Wall Street remains broadly bullish, with 30 analysts rating Broadcom a Buy and four rating it Hold; the stock has a consensus “Moderate Buy” rating and an average price target of $505.97.
• Broadcom’s latest quarterly results exceeded expectations, with revenue rising 85.5% year over year to $29.59 billion and EPS reaching $3.32. However, shares have fallen to $364.38 amid concerns about near-term guidance, elevated valuation and recent insider selling.

Spinnaker Trust grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 6.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 57,860 shares of the semiconductor manufacturer's stock after acquiring an additional 3,550 shares during the period. Broadcom comprises about 1.1% of Spinnaker Trust's portfolio, making the stock its 21st largest holding. Spinnaker Trust's holdings in Broadcom were worth $21,857,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of AVGO. ROSS JOHNSON & Associates LLC lifted its holdings in shares of Broadcom by 1,320.0% during the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer's stock valued at $25,000 after purchasing an additional 66 shares during the last quarter. SWAN Capital LLC increased its stake in Broadcom by 261.9% in the 4th quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer's stock worth $26,000 after purchasing an additional 55 shares in the last quarter. Networth Advisors LLC increased its stake in Broadcom by 546.2% in the 1st quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer's stock worth $26,000 after purchasing an additional 71 shares in the last quarter. Harborfront Financial Group LLC acquired a new stake in Broadcom during the 2nd quarter worth about $38,000. Finally, Cherry Tree Wealth Management LLC lifted its stake in Broadcom by 44.9% during the fourth quarter. Cherry Tree Wealth Management LLC now owns 129 shares of the semiconductor manufacturer's stock valued at $45,000 after buying an additional 40 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Oppenheimer restated an "outperform" rating and set a $535.00 price target (up from $450.00) on shares of Broadcom in a report on Thursday, June 4th. Dbs Bank raised shares of Broadcom to a "moderate buy" rating in a research note on Thursday, June 18th. Mizuho increased their target price on Broadcom from $480.00 to $530.00 and gave the company an "outperform" rating in a report on Thursday, June 4th. Morgan Stanley reaffirmed an "overweight" rating and issued a $505.00 target price (up from $502.00) on shares of Broadcom in a research report on Thursday, September 3rd. Finally, JPMorgan Chase & Co. lifted 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. Thirty analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Broadcom presently has a consensus rating of "Moderate Buy" and an average price target of $505.97.

Broadcom News Summary

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

Insider Activity

In related news, Director Gayla J. Delly sold 1,890 shares of the company's stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $385.38, for a total value of $728,368.20. Following the completion of the sale, the director directly owned 31,326 shares in the company, valued at approximately $12,072,413.88. This represents a 5.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Justine Page sold 1,602 shares of the stock in a transaction on Monday, June 29th. The stock was sold at an average price of $373.86, for a total transaction of $598,923.72. Following the transaction, the director directly owned 17,426 shares in the company, valued at $6,514,884.36. The trade was a 8.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 61,644 shares of company stock worth $24,016,214. 1.90% of the stock is owned by corporate insiders.

Broadcom Trading Down 1.1%

Shares of NASDAQ AVGO opened at $364.38 on Thursday. The stock has a market cap of $1.73 trillion, a price-to-earnings ratio of 46.54 and a beta of 1.44. The business has a 50 day simple moving average of $382.99 and a 200 day simple moving average of $378.23. Broadcom Inc. has a 52 week low of $289.96 and a 52 week high of $495.00. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.29 and a current ratio of 2.50.

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

Broadcom Announces Dividend

The firm also recently declared 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 is Monday, September 21st. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. Broadcom's dividend payout ratio is 33.21%.

Broadcom Profile

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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