Northwestern Mutual Wealth Management Co. Grows Holdings in Broadcom Inc. $AVGO

Key Points

• Northwestern Mutual Wealth Management increased its Broadcom stake by 8.7% in the second quarter, adding 96,505 shares to reach 1.20 million shares valued at approximately $453.9 million. Institutional investors collectively own 76.43% of the stock.
• Broadcom reported strong quarterly results, including $29.59 billion in revenue, $3.32 in EPS, and 85.5% year-over-year revenue growth. Its AI semiconductor revenue outlook remains bullish, with the company projecting potential AI-related revenue of $230 billion by 2028.
• Despite strong long-term AI prospects and a “Moderate Buy” consensus rating, concerns remain over elevated valuation, weaker-than-expected near-term guidance, and recent insider selling. AVGO traded at $364.38, below its 50- and 200-day moving averages.

Northwestern Mutual Wealth Management Co. increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 8.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,201,650 shares of the semiconductor manufacturer's stock after purchasing an additional 96,505 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in Broadcom were worth $453,923,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Fullerton Advisors LLC boosted its stake in shares of Broadcom by 1.3% during the first quarter. Fullerton Advisors LLC now owns 1,989 shares of the semiconductor manufacturer's stock worth $616,000 after buying an additional 25 shares during the period. NORTHSTAR ASSET MANAGEMENT Co increased its position in Broadcom by 0.5% in the 1st quarter. NORTHSTAR ASSET MANAGEMENT Co now owns 5,350 shares of the semiconductor manufacturer's stock valued at $1,656,000 after acquiring an additional 25 shares during the period. RFG Holdings Inc. increased its position in Broadcom by 0.3% in the 1st quarter. RFG Holdings Inc. now owns 8,499 shares of the semiconductor manufacturer's stock valued at $2,631,000 after acquiring an additional 26 shares during the period. Yukon Wealth Management Inc. raised its stake in Broadcom by 1.1% during the 1st quarter. Yukon Wealth Management Inc. now owns 2,501 shares of the semiconductor manufacturer's stock valued at $774,000 after acquiring an additional 26 shares during the last quarter. Finally, NerdWallet Wealth Partners LLC raised its stake in Broadcom by 2.6% during the 2nd quarter. NerdWallet Wealth Partners LLC now owns 1,057 shares of the semiconductor manufacturer's stock valued at $399,000 after acquiring an additional 27 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom reported record AI semiconductor revenue of approximately $16.7 billion and projected that AI-related revenue could reach $230 billion by 2028. Custom AI accelerators are becoming a larger contributor to revenue and profits, supporting the long-term bullish case. Broadcom Forecasts $230 Billion in AI Semiconductor Revenue in 2028
• Positive Sentiment: The 2028 outlook has encouraged bullish analysts and investors, with some arguing that accelerating AI chip sales could eventually support a share price above $900. Cantor also raised its price target to $600, indicating substantial potential upside if Broadcom executes. Top Analyst sets jaw-dropping Broadcom stock target after earnings
• Positive Sentiment: Broadcom’s earnings call highlighted strong demand for custom AI accelerators and a multiyear customer pipeline. Increasing spending by major cloud and AI companies, including OpenAI, could expand the addressable market for Broadcom’s networking and custom silicon products. Broadcom Q3 2026 Earnings Call Transcript
• Neutral Sentiment: Technical coverage notes that AVGO has underperformed the broader market and remains well below its 52-week high. The next important signal will be whether the stock can stabilize after the post-earnings breakdown. GOOGL, AVGO, AMD and LITE
• Negative Sentiment: Fiscal fourth-quarter revenue guidance fell short of Wall Street expectations, creating concern that near-term growth may not match the market’s aggressive AI assumptions. Truist responded by lowering its price target, even while acknowledging the stronger long-term outlook. Truist cuts Broadcom stock target
• Negative Sentiment: Some investors view the $230 billion AI forecast as increasingly expensive to justify, given AVGO’s elevated valuation and execution requirements. The stock’s reaction shows that excellent results may not be enough when expectations and future growth are already exceptionally high. Broadcom: The $230 Billion AI Dream Is Getting Expensive

Insiders Place Their Bets

In related news, Director Justine Page sold 1,602 shares of the firm's stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $373.86, for a total value of $598,923.72. Following the completion of the sale, the director 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 is available at this link. Also, insider Mark Brazeal sold 25,000 shares of the business's stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $401.33, for a total transaction of $10,033,250.00. Following the sale, the insider directly owned 194,989 shares in the company, valued at approximately $78,254,935.37. This represents a 11.36% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 61,644 shares of company stock worth $24,016,214. Corporate insiders own 1.90% of the company's stock.

Broadcom Stock Performance

NASDAQ AVGO opened at $364.38 on Thursday. The stock has a market capitalization of $1.73 trillion, a price-to-earnings ratio of 46.54 and a beta of 1.44. The business's 50 day moving average is $382.99 and its two-hundred day moving average is $378.23. Broadcom Inc. has a 12-month low of $289.96 and a 12-month high of $495.00. The company has a current ratio of 2.50, a quick ratio of 2.29 and a debt-to-equity ratio of 0.57.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 EPS for the quarter, beating the consensus estimate of $3.22 by $0.10. Broadcom had a return on equity of 48.33% and a net margin of 42.94%.The business had revenue of $29.59 billion during the quarter, compared to analysts' expectations of $29.24 billion. During the same period last year, the firm earned $1.69 EPS. The company's quarterly revenue was up 85.5% compared to the same quarter last year. Research analysts expect that Broadcom Inc. will post 10.36 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st will be issued a $0.65 dividend. The ex-dividend date of this dividend is Monday, September 21st. This represents a $2.60 dividend on an annualized basis and a yield of 0.7%. Broadcom's dividend payout ratio (DPR) is 33.21%.

Wall Street Analyst Weigh In

AVGO has been the topic of several analyst reports. Wells Fargo & Company reiterated an "overweight" rating and issued a $545.00 target price (up from $430.00) on shares of Broadcom in a research note on Thursday, May 14th. Oppenheimer restated an "outperform" rating and set a $535.00 price target (up from $450.00) on shares of Broadcom in a research note on Thursday, June 4th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $515.00 price target (up from $430.00) on shares of Broadcom in a report on Thursday, June 4th. UBS Group lowered shares of Broadcom from a "buy" rating to a "hold" rating in a research report on Thursday, September 3rd. Finally, Citigroup reissued a "buy" rating and issued a $515.00 price objective (up from $500.00) on shares of Broadcom in a research note on Friday, September 4th. Thirty research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $505.97.

Broadcom Company Profile

Broadcom Inc NASDAQ: AVGO designs, develops and supplies semiconductor and infrastructure software products for businesses, telecommunications providers and other organizations worldwide. Its semiconductor portfolio includes networking and connectivity components, custom application-specific integrated circuits, broadband and wireless communications products, storage adapters, optical components, and industrial solutions.

The company also provides enterprise infrastructure software through businesses including VMware, which offers virtualization and private- and hybrid-cloud solutions; mainframe and enterprise software; and cybersecurity products.

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