ICONIQ Capital LLC Has $141.20 Million Position in Broadcom Inc. $AVGO

ICONIQ Capital LLC grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 296.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 428,009 shares of the semiconductor manufacturer’s stock after acquiring an additional 320,179 shares during the period. Broadcom accounts for 1.8% of ICONIQ Capital LLC’s holdings, making the stock its 11th biggest position. ICONIQ Capital LLC’s holdings in Broadcom were worth $141,204,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Longfellow Investment Management Co. LLC purchased a new position in Broadcom in the second quarter valued at about $27,000. Teachers Insurance & Annuity Association of America purchased a new stake in shares of Broadcom during the 2nd quarter worth about $28,000. New England Capital Financial Advisors LLC acquired a new stake in shares of Broadcom during the 2nd quarter valued at about $31,000. JCIC Asset Management Inc. bought a new stake in shares of Broadcom in the 3rd quarter valued at approximately $31,000. Finally, Manning & Napier Advisors LLC bought a new stake in shares of Broadcom in the 3rd quarter valued at approximately $34,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Stock Up 0.9%

NASDAQ AVGO opened at $324.92 on Tuesday. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $414.61. The stock has a market cap of $1.54 trillion, a PE ratio of 63.46, a PEG ratio of 0.69 and a beta of 1.22. The firm has a 50-day simple moving average of $332.36 and a 200 day simple moving average of $345.10. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.73 and a current ratio of 1.90.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 EPS for the quarter, beating the consensus estimate of $2.03 by $0.02. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The firm had revenue of $19.31 billion during the quarter, compared to analysts’ expectations of $19.10 billion. During the same quarter in the prior year, the firm posted $1.60 EPS. The company’s revenue for the quarter was up 29.5% on a year-over-year basis. On average, research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 23rd will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Monday, March 23rd. Broadcom’s dividend payout ratio is presently 50.78%.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Wall Street remains highly bullish — nearly all covering analysts rate AVGO Buy and median price targets sit well above the current level, supporting upside expectations. Read More.
• Positive Sentiment: Company fundamentals and guidance are backing the AI story: recent quarterly results beat estimates, Broadcom reported large AI revenue (reported ~$12B FY25) and guided substantial AI revenue for the quarter — commentary that validates continued demand from hyperscalers and AI custom chip builds. Read More.
• Positive Sentiment: Capital return activity is notable — Broadcom is stepping up buybacks, which can support the share price by reducing float and signaling management confidence. Read More.
• Positive Sentiment: Product and roadmap news: Broadcom announced availability of the Taurus™ BCM83640, reinforcing its competitive position in networking and AI infrastructure components. Product cadence helps underwrite medium‑term revenue growth. Read More.
• Neutral Sentiment: Political/investor-interest signal: multiple members of Congress disclosed buys of AVGO — a datapoint that can attract retail attention but is informational rather than a direct catalyst. Read More.
• Negative Sentiment: Institutional trimming: Ameriprise disclosed a ~6.6% reduction in its AVGO position, a small headwind that could add selling pressure if other large holders follow suit. Read More.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AVGO. Piper Sandler reaffirmed an “overweight” rating and set a $430.00 price objective (up from $375.00) on shares of Broadcom in a research report on Friday, December 12th. JPMorgan Chase & Co. increased their price target on shares of Broadcom from $475.00 to $500.00 and gave the stock an “overweight” rating in a research note on Thursday, March 5th. Citigroup raised their price target on shares of Broadcom from $458.00 to $475.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Deutsche Bank Aktiengesellschaft set a $430.00 price objective on shares of Broadcom and gave the stock a “buy” rating in a report on Friday, December 12th. Finally, Raymond James Financial set a $420.00 target price on shares of Broadcom and gave the stock an “outperform” rating in a research report on Thursday, November 20th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $435.30.

Insider Transactions at Broadcom

In other news, CEO Hock E. Tan sold 130,000 shares of the firm’s stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $326.02, for a total transaction of $42,382,600.00. Following the completion of the transaction, the chief executive officer directly owned 595,638 shares of the company’s stock, valued at approximately $194,189,900.76. This trade represents a 17.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Harry L. You bought 1,000 shares of the firm’s stock in a transaction dated Thursday, December 18th. The shares were acquired at an average price of $325.13 per share, for a total transaction of $325,130.00. Following the completion of the transaction, the director owned 36,602 shares in the company, valued at $11,900,408.26. This represents a 2.81% increase in their position. The SEC filing for this purchase provides additional information. Insiders sold 429,844 shares of company stock valued at $145,624,987 over the last 90 days. Corporate insiders own 1.90% of the company’s stock.

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.