Broadcom Inc. $AVGO Stock Position Lifted by Cardinal Capital Management Inc.

Key Points

• Cardinal Capital Management increased its Broadcom position by 18.4% in the second quarter, bringing its holdings to 88,286 shares valued at approximately $33.35 million. Institutional investors collectively own 76.43% of Broadcom’s stock.
• Broadcom’s AI semiconductor revenue surged 143% year over year to $10.8 billion, and CEO Hock Tan reiterated that fiscal 2027 AI revenue should exceed $100 billion. The company also continues expanding its networking, custom-chip, software, and security businesses.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $493.24, although the stock’s valuation and recent profit-taking have created near-term pressure. Broadcom reported quarterly revenue of $22.19 billion, up 47.9% year over year, and beat earnings estimates.

Cardinal Capital Management Inc. grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 18.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 88,286 shares of the semiconductor manufacturer's stock after purchasing an additional 13,693 shares during the period. Cardinal Capital Management Inc.'s holdings in Broadcom were worth $33,350,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Norges Bank acquired a new position in Broadcom during the 4th quarter valued at about $24,252,196,000. Cardano Risk Management B.V. raised its position in shares of Broadcom by 895.2% during the 4th quarter. Cardano Risk Management B.V. now owns 12,689,800 shares of the semiconductor manufacturer's stock worth $4,391,940,000 after buying an additional 11,414,701 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Broadcom by 118.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 18,739,006 shares of the semiconductor manufacturer's stock worth $5,799,889,000 after acquiring an additional 10,145,377 shares during the period. State Street Corp lifted its stake in shares of Broadcom by 2.7% in the 4th quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer's stock worth $65,788,194,000 after acquiring an additional 5,040,801 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of Broadcom by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer's stock valued at $167,064,997,000 after acquiring an additional 3,919,715 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: AI revenue outlook remains a major catalyst. Broadcom’s AI semiconductor revenue increased 143% year over year to $10.8 billion in fiscal second quarter. CEO Hock Tan reaffirmed that fiscal 2027 AI semiconductor revenue should exceed $100 billion, supporting the long-term growth narrative. Hock Tan Reaffirmed Broadcom's $100 Billion AI Forecast
• Positive Sentiment: Broadcom could benefit from multiple AI infrastructure channels. Coverage highlighted its custom-chip and networking exposure, while AMD’s Helios rack-scale systems could create additional demand for Broadcom components. Analysts also view Broadcom as a potentially attractive complement to NVIDIA in an AI-focused portfolio. AMD’s Helios Launch Could Create Winners Beyond AMD Stock
• Positive Sentiment: Software and security initiatives broaden the story. Broadcom joined NVIDIA and other companies as a founding member of the Open Secure AI Alliance, while expanding VMware Cloud Foundation security features. These efforts may strengthen its enterprise software position and help defend against Nutanix and IBM. Broadcom Boosts VCF Security
• Neutral Sentiment: Brokerage sentiment remains supportive, with Broadcom carrying a consensus “Moderate Buy” rating and at least one firm raising its fiscal 2027 EPS estimate. Reported short interest was zero shares, offering no meaningful evidence of either short-covering demand or elevated bearish positioning.
• Negative Sentiment: Near-term trading pressure reflects valuation and profit-taking. Broadcom pulled back after its extended rally, while comparisons showed NVIDIA retaining advantages in some AI markets. Crake Asset Management also trimmed its position by 330,000 shares, a modest sentiment headwind. Broadcom Slips After Seven-Session Advance

Insider Transactions at Broadcom

In other Broadcom news, Director Justine Page sold 1,602 shares of the company's stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $373.86, for a total value of $598,923.72. Following the transaction, the director directly owned 17,426 shares of the company's stock, valued at $6,514,884.36. This represents a 8.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Harry L. You purchased 1,000 shares of the business's stock in a transaction dated Thursday, June 11th. The shares were purchased at an average cost of $373.57 per share, with a total value of $373,570.00. Following the completion of the purchase, the director directly owned 38,466 shares in the company, valued at approximately $14,369,743.62. This represents a 2.67% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have sold 61,644 shares of company stock worth $24,016,214. 1.90% of the stock is owned by company insiders.

Analyst Ratings Changes

AVGO has been the topic of a number of research analyst reports. KeyCorp reiterated an "overweight" rating and set a $575.00 price objective (up from $500.00) on shares of Broadcom in a research note on Thursday, June 4th. Rosenblatt Securities restated a "buy" rating and issued a $500.00 target price on shares of Broadcom in a research report on Thursday, June 4th. UBS Group set a $485.00 price target on Broadcom and gave the company a "buy" rating in a research note on Thursday, June 4th. Royal Bank Of Canada lifted their price target on Broadcom from $360.00 to $400.00 and gave the company a "sector perform" rating in a research report on Thursday, June 4th. Finally, DA Davidson boosted their price objective on Broadcom from $375.00 to $400.00 and gave the stock a "neutral" rating in a research note on Thursday, June 4th. Twenty-eight research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $493.24.

Broadcom Stock Down 1.5%

AVGO stock opened at $416.08 on Wednesday. The company has a 50 day moving average of $390.93 and a two-hundred day moving average of $371.83. The company has a market cap of $1.98 trillion, a price-to-earnings ratio of 69.35, a PEG ratio of 0.81 and a beta of 1.45. Broadcom Inc. has a 12-month low of $281.87 and a 12-month high of $495.00. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, beating the consensus estimate of $2.40 by $0.04. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The business had revenue of $22.19 billion for the quarter, compared to analysts' expectations of $22.13 billion. During the same period in the previous year, the company posted $1.58 EPS. Broadcom's revenue was up 47.9% on a year-over-year basis. On average, equities analysts anticipate that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd were paid a $0.65 dividend. The ex-dividend date was Monday, June 22nd. This represents a $2.60 dividend on an annualized basis and a yield of 0.6%. Broadcom's payout ratio is 43.33%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source