TD Waterhouse Canada Inc. Boosts Stock Holdings in Broadcom Inc. $AVGO

Key Points

• TD Waterhouse Canada increased its Broadcom stake by 3.2% in the second quarter, acquiring 36,189 additional shares for a total holding valued at approximately $432.5 million. Institutional investors collectively own 76.43% of Broadcom.
• Broadcom exceeded quarterly expectations: EPS came in at $3.32 versus the $3.22 consensus, while revenue reached $29.59 billion, up 85.5% year over year. The company also announced a quarterly dividend of $0.65 per share.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $505.97, though insider selling and Broadcom’s high valuation remain considerations for investors.

TD Waterhouse Canada Inc. lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,170,341 shares of the semiconductor manufacturer's stock after purchasing an additional 36,189 shares during the period. Broadcom accounts for about 1.1% of TD Waterhouse Canada Inc.'s holdings, making the stock its 25th biggest position. TD Waterhouse Canada Inc.'s holdings in Broadcom were worth $432,457,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its holdings in shares of Broadcom by 21.8% in the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock worth $6,882,000 after buying an additional 5,322 shares during the last quarter. Revolve Wealth Partners LLC grew its position in Broadcom by 10.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock valued at $1,854,000 after buying an additional 756 shares during the period. United Bank increased its holdings in Broadcom by 76.5% during the first quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer's stock worth $392,000 after buying an additional 1,014 shares during the last quarter. Sivia Capital Partners LLC increased its holdings in Broadcom by 10.1% during the second quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer's stock worth $3,499,000 after buying an additional 1,160 shares during the last quarter. Finally, Capital & Planning LLC raised its position in Broadcom by 10.5% in the second quarter. Capital & Planning LLC now owns 3,983 shares of the semiconductor manufacturer's stock worth $1,098,000 after acquiring an additional 378 shares during the period. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Up 0.3%

AVGO opened at $361.99 on Friday. Broadcom Inc. has a 12 month low of $289.96 and a 12 month high of $495.00. The company has a market cap of $1.72 trillion, a PE ratio of 46.23 and a beta of 1.44. The company has a current ratio of 2.50, a quick ratio of 2.29 and a debt-to-equity ratio of 0.57. The company has a 50 day moving average of $383.03 and a 200 day moving average of $378.32.

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

Broadcom Announces Dividend

The business 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 dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Monday, September 21st. Broadcom's payout ratio is presently 33.21%.

Insider Activity

In other news, Director Justine Page sold 1,602 shares of the 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 sale, the director directly owned 17,426 shares of the company's stock, valued at approximately $6,514,884.36. This represents a 8.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Mark Brazeal sold 25,000 shares of the business's stock in a transaction that occurred 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 directly owned 194,989 shares of the company's stock, valued at approximately $78,254,935.37. This represents a 11.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 61,644 shares of company stock worth $24,016,214 over the last ninety days. Company insiders own 1.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Cantor Fitzgerald boosted their target price on shares of Broadcom from $525.00 to $600.00 and gave the company an "overweight" rating in a research note on Thursday, September 3rd. Zacks Research cut shares of Broadcom from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 21st. Lake Street Capital upgraded Broadcom to a "buy" rating in a research note on Thursday, September 3rd. Raymond James Financial reissued an "outperform" rating and set a $475.00 price objective (up from $450.00) on shares of Broadcom in a report on Thursday, September 3rd. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of Broadcom in a research report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $505.97.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Analyst upgrade: Piper Sandler upgraded Broadcom to “strong buy,” reinforcing confidence in the company’s earnings growth and AI semiconductor outlook. Zacks Broadcom analyst upgrade
• Positive Sentiment: AI revenue expectations remain a major catalyst: Broadcom projects approximately $115 billion in AI semiconductor revenue for fiscal 2027 and $230 billion for fiscal 2028. Custom accelerators and networking products are benefiting from hyperscalers seeking lower-cost, workload-specific alternatives to Nvidia’s chips. Broadcom AI semiconductor revenue forecast
• Positive Sentiment: Strong customer demand: OpenAI, Anthropic, Alphabet and Meta are cited as buyers or potential buyers of Broadcom-designed accelerators, supporting the view that the company can gain share as AI infrastructure becomes more diversified. Broadcom custom AI accelerator demand
• Positive Sentiment: Recent execution was solid: Broadcom exceeded quarterly earnings and revenue estimates, while revenue rose sharply year over year. Analysts continue to argue that improving profits could eventually support a significantly higher valuation. Broadcom earnings and analyst coverage
• Neutral Sentiment: Market and valuation backdrop: Rising Treasury yields and a high earnings multiple are encouraging investors to scrutinize expensive AI stocks, even when long-term demand remains strong. Broadcom’s ability to deliver on its 2027–2028 forecasts will be critical.
• Negative Sentiment: Competitive uncertainty: Google’s internal chip efforts and OpenAI’s newly disclosed Samsung partnership have raised questions about whether some future custom-chip business could bypass Broadcom. The impact is unclear, but the developments may pressure near-term sentiment. Broadcom Google chip risks

About Broadcom

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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