Turner Financial Group Inc. Buys Shares of 2,118 Broadcom Inc. $AVGO

Key Points

• Turner Financial Group acquired 2,118 Broadcom shares worth approximately $800,000, making AVGO 0.8% of its portfolio. Institutional investors collectively own 76.43% of the stock.
• Wall Street remains broadly positive, with one Strong Buy, 29 Buy and four Hold ratings; Broadcom has a consensus “Moderate Buy” rating and an average price target of $505.97.
• Broadcom exceeded quarterly earnings and revenue expectations, reporting $3.32 in EPS and $29.59 billion in revenue, up 85.5% year over year. The company also announced a quarterly dividend of $0.65 per share, while insiders sold $24.0 million of stock over the past 90 days.

Turner Financial Group Inc. acquired a new position in Broadcom Inc. (NASDAQ:AVGO - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,118 shares of the semiconductor manufacturer's stock, valued at approximately $800,000. Broadcom comprises approximately 0.8% of Turner Financial Group Inc.'s holdings, making the stock its 25th largest position.

Several other institutional investors also recently bought and sold shares of the stock. Oakmont Investment Advisors Inc. bought a new position in shares of Broadcom in the 2nd quarter valued at approximately $2,747,000. Strive Financial Group LLC grew its stake in Broadcom by 170.4% in the 2nd quarter. Strive Financial Group LLC now owns 3,258 shares of the semiconductor manufacturer's stock valued at $1,231,000 after buying an additional 2,053 shares during the last quarter. Blalock Williams LLC raised its holdings in Broadcom by 5.0% in the 2nd quarter. Blalock Williams LLC now owns 3,446 shares of the semiconductor manufacturer's stock worth $1,302,000 after acquiring an additional 163 shares during the period. MOR Wealth Management LLC raised its holdings in Broadcom by 66.4% in the 2nd quarter. MOR Wealth Management LLC now owns 2,131 shares of the semiconductor manufacturer's stock worth $805,000 after acquiring an additional 850 shares during the period. Finally, Elevation Wealth Management LLC lifted its position in Broadcom by 5.7% during the 2nd quarter. Elevation Wealth Management LLC now owns 7,513 shares of the semiconductor manufacturer's stock worth $2,838,000 after acquiring an additional 408 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on AVGO shares. Morgan Stanley restated an "overweight" rating and set a $505.00 price target (up from $502.00) on shares of Broadcom in a report on Thursday, September 3rd. Rosenblatt Securities started coverage on Broadcom in a research report on Thursday, September 3rd. They set a "buy" rating and a $600.00 price objective for the company. Fox Advisors raised Broadcom to an "outperform" rating in a research report on Thursday, September 3rd. Evercore set a $578.00 target price on Broadcom in a research note on Thursday, September 3rd. Finally, Zacks Research lowered Broadcom from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, Broadcom presently has a consensus rating of "Moderate Buy" and a consensus price target of $505.97.

Insider Activity at Broadcom

In other Broadcom news, Director Gayla J. Delly sold 1,890 shares of the stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $385.38, for a total transaction of $728,368.20. Following the completion of the transaction, the director directly owned 31,326 shares in the company, valued at $12,072,413.88. This represents a 5.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Justine Page sold 1,602 shares of Broadcom stock in a transaction on Monday, June 29th. The shares were sold at an average price of $373.86, for a total value of $598,923.72. Following the transaction, the director directly owned 17,426 shares of the company's stock, valued at approximately $6,514,884.36. The trade was a 8.42% 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 in the last 90 days. 1.90% of the stock is owned by corporate insiders.

Broadcom Stock Performance

NASDAQ:AVGO opened at $361.99 on Monday. Broadcom Inc. has a 12-month low of $289.96 and a 12-month high of $495.00. The company has a quick ratio of 2.29, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $1.73 trillion, a PE ratio of 46.23 and a beta of 1.44. The firm has a 50-day moving average price of $383.03 and a 200 day moving average price of $378.66.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 EPS for the quarter, topping analysts' consensus estimates of $3.22 by $0.10. The firm had revenue of $29.59 billion during 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 company's revenue for the quarter was up 85.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.69 earnings per share. Research analysts anticipate that Broadcom Inc. will post 10.36 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Monday, September 21st will be 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 is Monday, September 21st. Broadcom's dividend payout ratio (DPR) is 33.21%.

Trending Headlines about Broadcom

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

Broadcom 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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