ICONIQ Capital LLC Lowers Position in Broadcom Inc. $AVGO

ICONIQ Capital LLC decreased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 97.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,898 shares of the semiconductor manufacturer’s stock after selling 417,904 shares during the quarter. ICONIQ Capital LLC’s holdings in Broadcom were worth $3,361,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp increased its stake in shares of Broadcom by 2.7% in the 4th quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer’s stock valued at $65,788,194,000 after purchasing an additional 5,040,801 shares in the last quarter. Geode Capital Management LLC boosted its position in Broadcom by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 111,277,280 shares of the semiconductor manufacturer’s stock worth $38,396,634,000 after purchasing an additional 1,548,699 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Broadcom by 3.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 85,546,083 shares of the semiconductor manufacturer’s stock valued at $29,607,500,000 after buying an additional 2,491,644 shares in the last quarter. Norges Bank acquired a new stake in Broadcom in the 4th quarter valued at $24,252,196,000. Finally, Bank of America Corp DE increased its holdings in Broadcom by 4.6% in the 2nd quarter. Bank of America Corp DE now owns 61,423,013 shares of the semiconductor manufacturer’s stock worth $23,202,543,000 after acquiring an additional 2,685,916 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on AVGO shares. Royal Bank Of Canada began coverage on shares of Broadcom in a research report on Thursday, September 3rd. They set an “outperform” rating for the company. Erste Group Bank reiterated a “hold” rating on shares of Broadcom in a research note on Tuesday, July 7th. TD Cowen reissued a “buy” rating and set a $475.00 target price (down from $500.00) on shares of Broadcom in a report on Thursday, September 3rd. Weiss Ratings lowered Broadcom from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, July 30th. Finally, Susquehanna reaffirmed a “positive” rating and set a $490.00 target price (up from $450.00) on shares of Broadcom in a research note on Thursday, May 28th. Thirty analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and a consensus target price of $505.97.

Broadcom Stock Down 1.1%

NASDAQ AVGO opened at $364.38 on Thursday. The business’s fifty day simple moving average is $382.99 and its 200-day simple moving average is $378.23. 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 cap of $1.73 trillion, a PE ratio of 46.54 and a beta of 1.44. Broadcom Inc. has a 52 week low of $289.96 and a 52 week high of $495.00.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. Broadcom’s revenue was up 85.5% compared to the same quarter last year. During the same period last year, the business earned $1.69 earnings per share. As a group, equities analysts anticipate that Broadcom Inc. will post 10.36 earnings per share 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 paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, September 21st. This represents a $2.60 annualized dividend and a yield of 0.7%. 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: 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 other Broadcom news, Director Gayla J. Delly sold 1,890 shares of Broadcom stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $385.38, for a total transaction of $728,368.20. Following the completion of the sale, the director directly owned 31,326 shares in the company, valued at $12,072,413.88. This trade represents a 5.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Justine Page sold 1,602 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director directly 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 SEC filing for this sale provides additional information. Insiders sold a total of 61,644 shares of company stock valued at $24,016,214 over the last quarter. 1.90% of the stock is owned by insiders.

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.