Cornerstone Wealth Management LLC Has $8.18 Million Stock Holdings in Broadcom Inc. $AVGO

Key Points

• Cornerstone Wealth Management increased its Broadcom stake by 8.3% in the second quarter, owning 21,640 shares valued at approximately $8.18 million.
• Institutional investors hold 76.43% of Broadcom’s stock, with major holders including Vanguard, State Street, Geode Capital and T. Rowe Price increasing their positions.
• Broadcom continues to benefit from strong AI-driven demand, reporting 47.9% year-over-year revenue growth and beating quarterly estimates, though shares have faced pressure from Marvell’s competing Google AI-chip deal and broader financing and leverage concerns.

Cornerstone Wealth Management LLC increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 8.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,640 shares of the semiconductor manufacturer's stock after acquiring an additional 1,656 shares during the period. Cornerstone Wealth Management LLC's holdings in Broadcom were worth $8,175,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AVGO. Vanguard Group Inc. raised its holdings in shares of Broadcom by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer's stock worth $167,064,997,000 after buying an additional 3,919,715 shares in the last quarter. State Street Corp boosted its stake in Broadcom by 2.7% in the 4th 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 boosted its stake in Broadcom by 1.4% in 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 buying an additional 1,548,699 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position 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 acquiring an additional 2,491,644 shares during the period. Finally, Norges Bank acquired a new position in Broadcom during the fourth quarter worth $24,252,196,000. Institutional investors own 76.43% of the company's stock.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s custom AI accelerator and networking businesses remain major growth drivers. The company recently reported 47.9% year-over-year revenue growth and exceeded quarterly EPS and revenue expectations, while one analysis argues its combination of custom chips and data-center networking gives it durable AI exposure. Broadcom AI infrastructure analysis
• Positive Sentiment: TD Cowen reiterated a Buy rating and maintained a $500 price target, indicating that at least one major analyst views the recent weakness as an opportunity rather than a deterioration in Broadcom’s long-term outlook. TD Cowen Broadcom price target
• Positive Sentiment: Broader AI spending trends remain favorable for chip and infrastructure suppliers, including Broadcom, as companies increase investment in compute and connectivity. Anthropic’s reported growth and its infrastructure relationships also highlight potential demand for Broadcom custom silicon. Anthropic pre-IPO and Broadcom infrastructure
• Neutral Sentiment: Broadcom is scheduled to pay its regular quarterly dividend of $0.65 per share on September 30, providing income support but little immediate catalyst for the stock. Broadcom dividend announcement
• Negative Sentiment: Marvell Technology announced an agreement to help Google develop custom AI chips and received a potential $12.2 billion Google-linked warrant or equity option. Because Broadcom has been viewed as Google’s leading custom-chip partner, the deal raised concerns that Marvell could take share or weaken Broadcom’s negotiating position. Marvell Google custom AI chip deal
• Negative Sentiment: Investors remain concerned about financing conditions for AI infrastructure spending, Broadcom’s leverage and VMware-related issues, including a reported vCenter Syslog Server vulnerability. Comparisons with NVIDIA and Astera Labs also emphasize Broadcom’s higher perceived financial risk or less attractive growth profile. Broadcom VMware and financing concerns

Insider Transactions at Broadcom

In related news, Director Justine Page sold 1,602 shares of Broadcom 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 completion of the sale, the director directly owned 17,426 shares in the company, valued at $6,514,884.36. This trade represents a 8.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gayla J. Delly sold 1,890 shares of the business's stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $385.38, for a total value of $728,368.20. Following the sale, the director directly owned 31,326 shares of the company's stock, valued at $12,072,413.88. This represents a 5.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 61,644 shares of company stock valued at $24,016,214 over the last 90 days. 1.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on AVGO shares. Benchmark lifted their price objective on Broadcom from $485.00 to $545.00 and gave the company a "buy" rating in a report on Thursday, June 4th. Zacks Research cut shares of Broadcom from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 21st. Wall Street Zen downgraded shares of Broadcom from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 18th. TD Cowen restated a "buy" rating and issued a $500.00 price target on shares of Broadcom in a research report on Thursday, June 4th. Finally, Mizuho upped their price objective on shares of Broadcom from $480.00 to $530.00 and gave the stock an "outperform" rating in a research note on Thursday, June 4th. Twenty-eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $493.24.

Broadcom Stock Down 4.6%

Shares of NASDAQ:AVGO opened at $362.48 on Thursday. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71. The firm has a market cap of $1.72 trillion, a P/E ratio of 60.41, a P/E/G ratio of 0.73 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's 50-day moving average price is $389.27 and its two-hundred day moving average price is $374.61.

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

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd were issued a dividend of $0.65 per share. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $2.60 annualized dividend and a yield of 0.7%. Broadcom's dividend payout ratio is currently 43.33%.

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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