Griffin Asset Management Inc. Purchases 7,239 Shares of Broadcom Inc. $AVGO

Key Points

• Griffin Asset Management increased its Broadcom position by 22.6% in the second quarter, purchasing 7,239 shares to hold 39,291 shares valued at approximately $14.8 million. Institutional investors collectively own 76.43% of AVGO.
• Broadcom reported quarterly revenue of $22.19 billion, up 47.9% year over year, and adjusted earnings of $2.44 per share, exceeding analyst estimates. Analysts maintain a “Moderate Buy” consensus, with an average price target of $491.97.
• Despite strong AI-related momentum, investors face risks from Broadcom’s premium valuation and financing needs, as well as potential competition from Marvell’s Google custom-chip agreement. Broadcom is reportedly seeking up to $60 billion in financing for AI-chip projects.

Griffin Asset Management Inc. lifted its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 22.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 39,291 shares of the semiconductor manufacturer's stock after purchasing an additional 7,239 shares during the period. Broadcom accounts for approximately 1.6% of Griffin Asset Management Inc.'s portfolio, making the stock its 19th biggest holding. Griffin Asset Management Inc.'s holdings in Broadcom were worth $14,842,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in AVGO. ROSS JOHNSON & Associates LLC increased its position in Broadcom by 1,320.0% in the 4th quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer's stock worth $25,000 after buying an additional 66 shares during the period. SWAN Capital LLC boosted its position in shares of Broadcom by 261.9% in the fourth quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer's stock valued at $26,000 after acquiring an additional 55 shares during the period. Networth Advisors LLC boosted its position in shares of Broadcom by 546.2% in the first quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer's stock valued at $26,000 after acquiring an additional 71 shares during the period. Nvest Wealth Strategies Inc. acquired a new stake in shares of Broadcom in the fourth quarter worth $33,000. Finally, PayPay Securities Corp grew its stake in shares of Broadcom by 88.9% in the fourth quarter. PayPay Securities Corp now owns 119 shares of the semiconductor manufacturer's stock worth $41,000 after acquiring an additional 56 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Buying and Selling

In other Broadcom news, Director Justine Page sold 1,602 shares of the company's stock in a transaction on Monday, June 29th. The stock was sold at an average price of $373.86, for a total value of $598,923.72. Following the sale, the director directly owned 17,426 shares in the company, valued at $6,514,884.36. This represents a 8.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Harry L. You acquired 1,000 shares of the company's stock in a transaction on Thursday, June 11th. The shares were bought at an average price 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 of the company's stock, valued at approximately $14,369,743.62. This represents a 2.67% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold 61,644 shares of company stock worth $24,016,214 in the last quarter. Corporate insiders own 1.90% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on AVGO shares. Jefferies Financial Group set a $550.00 target price on shares of Broadcom and gave the company a "buy" rating in a research note on Thursday, June 4th. TD Cowen restated a "buy" rating and set a $500.00 price objective on shares of Broadcom in a report on Thursday, June 4th. Citigroup reaffirmed a "buy" rating on shares of Broadcom in a research report on Thursday, June 4th. Mizuho lifted their target price on Broadcom from $480.00 to $530.00 and gave the stock an "outperform" rating in a research report on Thursday, June 4th. Finally, The Goldman Sachs Group restated a "buy" rating on shares of Broadcom in a research note on Monday, August 3rd. Twenty-nine equities 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 stock currently has an average rating of "Moderate Buy" and an average target price of $491.97.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom is reportedly engaging lenders to secure up to $60 billion in financing for AI-chip projects. The funding could support large-scale production and expansion, although it may also increase leverage and financing risk. Broadcom engages with lenders to secure $60B for AI chip financing
• Positive Sentiment: ARK Invest reportedly purchased approximately $20 million of Broadcom shares during the weakness, providing a vote of confidence in the long-term AI infrastructure opportunity. AVGO Stock Recovers Premarket After Marvell-Linked Selloff
• Positive Sentiment: TD Cowen reiterated a Buy rating and a $500 price target. Broadcom’s latest results also showed strong underlying momentum, including nearly 48% year-over-year revenue growth and quarterly revenue slightly above consensus. Wall Street analyst updates Broadcom stock price target
• Neutral Sentiment: Broadcom still has a Google TPU and networking agreement extending through 2031. However, the company’s upcoming guidance—especially for fiscal 2027 AI semiconductor revenue—will be important in determining whether it can offset competitive concerns. Marvell Takes a Shot at Broadcom's Throne With Google Deal
• Negative Sentiment: Marvell Technology’s agreement to develop custom silicon connected to Google’s TPU ecosystem is the main pressure on AVGO. The deal covers inference accelerators and networking-related components, raising fears that Google could diversify away from Broadcom. Google also received warrants worth roughly $12.2 billion, potentially tied to as much as $120 billion of Marvell product purchases through 2033. Marvell Just Took Custom AI Chip Work at Google
• Negative Sentiment: Analyst commentary has highlighted Broadcom’s premium valuation, financing needs, and the reported second-quarter exit by Stanley Druckenmiller’s Duquesne Family Office. These factors reinforce concerns that strong AI growth may already be heavily reflected in the stock. Druckenmiller Sold Broadcom

Broadcom Stock Performance

NASDAQ:AVGO opened at $364.03 on Friday. The firm has a market capitalization of $1.73 trillion, a PE ratio of 60.67, a price-to-earnings-growth ratio of 0.69 and a beta of 1.45. 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 Inc. has a 12-month low of $286.17 and a 12-month high of $495.00. The firm has a 50-day moving average price of $388.84 and a 200 day moving average price of $374.84.

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

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 22nd were given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Monday, June 22nd. Broadcom's dividend payout ratio (DPR) is 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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