Cardinal Point Capital Management ULC Invests $630,000 in Broadcom Inc. $AVGO

Key Points

• Cardinal Point Capital Management ULC disclosed a new first-quarter stake in Broadcom, buying 2,037 shares valued at about $630,000.
• Broadcom also reported strong quarterly results, with EPS of $2.44 and revenue of $22.19 billion, both slightly ahead of Wall Street expectations. Revenue rose 47.9% from a year earlier.
• The company’s stock was down 3.7% to about $365.02, even as analysts and recent news remained largely constructive, including upgrades, a new dividend of $0.65 per share, and growing enthusiasm around its AI chip business.

Cardinal Point Capital Management ULC purchased a new stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,037 shares of the semiconductor manufacturer's stock, valued at approximately $630,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AVGO. Norges Bank purchased a new stake in Broadcom in the 4th quarter valued at $24,252,196,000. Cardano Risk Management B.V. raised its holdings 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 acquiring an additional 11,414,701 shares during the period. State Street Corp raised its holdings in shares of Broadcom by 2.7% during 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. Arrowstreet Capital Limited Partnership boosted its position in shares of Broadcom by 499.4% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,634,232 shares of the semiconductor manufacturer's stock valued at $1,858,789,000 after acquiring an additional 4,694,313 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Broadcom by 0.8% during the 4th 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 during the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Transactions at Broadcom

In related news, insider Mark David Brazeal sold 4,825 shares of the stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $394.91, for a total transaction of $1,905,440.75. Following the completion of the transaction, the insider owned 269,989 shares of the company's stock, valued at approximately $106,621,355.99. This trade represents a 1.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Charlie B. Kawwas sold 10,000 shares of the stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $345.23, for a total transaction of $3,452,300.00. Following the transaction, the insider directly owned 787,184 shares of the company's stock, valued at $271,759,532.32. The trade was a 1.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 59,385 shares of company stock worth $21,301,057. 1.90% of the stock is owned by company insiders.

Broadcom Stock Down 3.7%

Shares of NASDAQ:AVGO opened at $365.02 on Friday. The company has a market capitalization of $1.74 trillion, a price-to-earnings ratio of 60.84, a PEG ratio of 0.64 and a beta of 1.41. Broadcom Inc. has a 12-month low of $262.66 and a 12-month high of $495.00. The business has a 50-day moving average price of $411.70 and a 200 day moving average price of $363.35. 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 (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, beating analysts' consensus estimates of $2.40 by $0.04. The company had revenue of $22.19 billion for the quarter, compared to analysts' expectations of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. Broadcom's revenue for the quarter was up 47.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.58 earnings per share. Sell-side analysts expect that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd will be paid a $0.65 dividend. 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, June 22nd. Broadcom's payout ratio is 43.33%.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: OpenAI and Broadcom unveiled “Jalapeño,” a custom AI accelerator built for LLM inference, reinforcing Broadcom’s growing role in AI chip design and improving revenue visibility as deployment is expected in late 2026. Article Title
• Positive Sentiment: Additional coverage highlighted the Jalapeño AI accelerator as a sign that Broadcom is expanding its custom AI silicon roadmap, which could strengthen its position in high-margin AI infrastructure sales. Article Title
• Positive Sentiment: Analysts continue to view Broadcom as a favored long-term AI chip stock, with strong buy ratings reinforcing confidence in the company’s AI and networking growth outlook. Article Title
• Neutral Sentiment: A market note suggested investors may want to “buy the chip dip” and avoid hyperscalers for now, which is supportive for semiconductor names like Broadcom but does not specifically change AVGO’s fundamentals. Article Title
• Negative Sentiment: Broader AI-sector selloff headlines are weighing on sentiment across major tech leaders, suggesting valuation concerns may continue to pressure Broadcom despite its strong fundamentals. Article Title
• Negative Sentiment: One valuation-focused article argued that Broadcom and Marvell may face a “dangerous valuation gap,” which could raise investor concern that AVGO’s premium pricing is getting stretched. Article Title

Analyst Ratings Changes

Several equities research analysts recently issued reports on AVGO shares. Wall Street Zen cut shares of Broadcom from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, June 23rd. Erste Group Bank upgraded shares of Broadcom from a "hold" rating to a "buy" rating in a report on Friday, June 5th. KeyCorp reissued an "overweight" rating and issued a $575.00 price target (up from $500.00) on shares of Broadcom in a research note on Thursday, June 4th. The Goldman Sachs Group restated a "buy" rating and set a $525.00 price target on shares of Broadcom in a report on Thursday, June 4th. Finally, Zacks Research downgraded shares of Broadcom from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $493.24.

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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