JNBA Financial Advisors Boosts Position in Broadcom Inc. $AVGO

Key Points

• JNBA Financial Advisors increased its Broadcom position by 720.6% in the second quarter, ending with 4,308 shares valued at approximately $1.63 million. Institutional investors collectively own 76.43% of AVGO.
• Analysts remain broadly bullish, with 29 Buy ratings and four Holds; Broadcom has a consensus “Moderate Buy” rating and an average price target of $491.97.
• Broadcom reported strong quarterly results, including 47.9% year-over-year revenue growth to $22.19 billion and EPS of $2.44, while competitive concerns from Marvell’s Google custom-chip agreement and the company’s premium valuation remain key risks.

JNBA Financial Advisors raised its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 720.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,308 shares of the semiconductor manufacturer's stock after acquiring an additional 3,783 shares during the quarter. JNBA Financial Advisors' holdings in Broadcom were worth $1,627,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of AVGO. Bank of America Corp DE increased its stake in shares of Broadcom by 1.5% in the 1st quarter. Bank of America Corp DE now owns 58,737,097 shares of the semiconductor manufacturer's stock worth $18,179,719,000 after purchasing an additional 894,564 shares in the last quarter. Bartlett & CO. Wealth Management LLC lifted its position in Broadcom by 129.3% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 110,048 shares of the semiconductor manufacturer's stock valued at $34,061,000 after purchasing an additional 62,050 shares in the last quarter. First Bank & Trust grew its holdings in Broadcom by 17.2% during the second quarter. First Bank & Trust now owns 10,503 shares of the semiconductor manufacturer's stock valued at $3,968,000 after purchasing an additional 1,545 shares during the period. Fifth Lane Capital LP grew its holdings in Broadcom by 77.8% during the fourth quarter. Fifth Lane Capital LP now owns 4,000 shares of the semiconductor manufacturer's stock valued at $1,384,000 after purchasing an additional 1,750 shares during the period. Finally, Wealthcare Capital Partners LLC increased its position in Broadcom by 36.4% in the second quarter. Wealthcare Capital Partners LLC now owns 4,407 shares of the semiconductor manufacturer's stock worth $1,665,000 after buying an additional 1,176 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AVGO. UBS Group set a $485.00 price objective on Broadcom and gave the company a "buy" rating in a research report on Thursday, June 4th. Bank of America raised their target price on shares of Broadcom from $450.00 to $530.00 and gave the stock a "buy" rating in a research note on Thursday, June 4th. Dbs Bank raised shares of Broadcom to a "moderate buy" rating in a report on Thursday, June 18th. Benchmark increased their price objective on shares of Broadcom from $485.00 to $545.00 and gave the stock a "buy" rating in a research note on Thursday, June 4th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Broadcom from $500.00 to $580.00 and gave the company an "overweight" rating in a research report on Thursday, June 4th. Twenty-nine investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Broadcom has a consensus rating of "Moderate Buy" and an average target price of $491.97.

Insider Buying and Selling at Broadcom

In related news, Director Justine Page sold 1,602 shares of the company's stock in a transaction on Monday, June 29th. The shares were sold at an average price of $373.86, for a total transaction of $598,923.72. Following the sale, the director owned 17,426 shares of the company's stock, valued at $6,514,884.36. This represents a 8.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mark David Brazeal sold 25,000 shares of the stock in a transaction on Friday, July 10th. The shares were sold at an average price of $401.33, for a total transaction of $10,033,250.00. Following the transaction, the insider owned 194,989 shares of the company's stock, valued at $78,254,935.37. This trade represents a 11.36% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 61,644 shares of company stock worth $24,016,214. Company insiders own 1.90% of the company's stock.

Broadcom Price Performance

Shares of Broadcom stock opened at $364.03 on Friday. The stock has a 50 day moving average of $388.84 and a 200 day moving average of $374.84. Broadcom Inc. has a 12 month low of $286.17 and a 12 month high of $495.00. The firm has a market cap of $1.73 trillion, a PE ratio of 60.67, a PEG ratio of 0.69 and a beta of 1.45. 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 released its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.04. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The business had revenue of $22.19 billion during the quarter, compared to analysts' expectations of $22.13 billion. During the same quarter last year, the business posted $1.58 EPS. The firm's revenue for the quarter was up 47.9% compared to the same quarter last year. On average, research analysts expect that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 22nd were issued a $0.65 dividend. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.7%. Broadcom's dividend payout ratio (DPR) is 43.33%.

Broadcom News Roundup

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

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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