Tortoise Investment Management LLC Invests $893,000 in Broadcom Inc. $AVGO

Posted by Stanley Muller on Aug 28th, 2026

Tortoise Investment Management LLC bought a new position in Broadcom Inc. (NASDAQ:AVGO – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,363 shares of the semiconductor manufacturer’s stock, valued at approximately $893,000.

A number of other hedge funds also recently bought and sold shares of AVGO. Aegis Wealth Management LLC bought a new position in Broadcom during the 2nd quarter valued at approximately $850,000. Banco BTG Pactual S.A. bought a new stake in shares of Broadcom in the 2nd quarter worth approximately $26,581,000. UNIVEST FINANCIAL Corp purchased a new position in shares of Broadcom during the second quarter valued at approximately $52,988,000. K.J. Harrison & Partners Inc purchased a new position in shares of Broadcom during the second quarter valued at approximately $1,954,000. Finally, Grandfield & Dodd LLC bought a new position in shares of Broadcom during the second quarter valued at approximately $665,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

Positive Sentiment: OpenAI chip partnership highlights custom-AI opportunity. Broadcom reportedly handled the physical implementation and supplied key technology for OpenAI’s “Jalapeño” inference chip, which OpenAI says can deliver up to 1.9 times more AI work per watt than comparison systems. The project reinforces Broadcom’s role as a leading provider of custom AI silicon and networking infrastructure. OpenAI Built an Nvidia-Beating Inference Chip in Nine Months
Positive Sentiment: AI semiconductor momentum remains the key growth driver. Analysts point to accelerating demand for Broadcom’s custom XPUs, networking products, and AI data-center infrastructure, although NVIDIA and AMD are increasing competition. Broadcom Rides AI Semiconductor Growth
Positive Sentiment: Kyndryl alliance supports VMware and private-cloud growth. The partnership expands Broadcom’s VMware Cloud Foundation reach among global enterprises, potentially strengthening recurring software revenue and demand for secure private-cloud modernization. New Kyndryl Partnership Strengthens Private Cloud and AI Growth Strategy
Positive Sentiment: Brokerage support and institutional buying add confidence. BMO initiated coverage with an Outperform rating and a $455 target, while ARK Investment Management purchased 57,705 AVGO shares across three funds. BMO Starts Broadcom at Outperform With $455 Target
Neutral Sentiment: NVIDIA’s earnings lifted the broader chip sector. Broadcom traded higher alongside semiconductor stocks, while investors also looked ahead to Broadcom’s next earnings report for evidence that AI demand is translating into sustained revenue and cash-flow growth. Broadcom Stock Making Moves Ahead of Earnings
Neutral Sentiment: RBC reaffirmed a Sector Perform rating but set a $400 price target, implying moderate upside while signaling that much of the AI optimism may already be reflected in the shares.
Negative Sentiment: Valuation and AI financing risks remain concerns. After a roughly sevenfold five-year gain, some analysis argues that Broadcom’s valuation depends heavily on continued AI growth. Debt-funded infrastructure spending and reliance on a limited group of major customers could increase downside risk if customer plans or AI investment slow. Broadcom Stock May Trade at a Discount After AI Debt Concerns

Insider Buying and Selling

In other Broadcom news, insider Mark David Brazeal sold 25,000 shares of Broadcom stock in a transaction on 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 completion of the transaction, the insider owned 194,989 shares in the company, valued at approximately $78,254,935.37. The trade was a 11.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Harry L. You bought 1,000 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was bought at an average cost of $373.57 per share, for a total transaction of $373,570.00. Following the completion of the purchase, the director owned 38,466 shares of the company’s stock, valued at approximately $14,369,743.62. The trade was a 2.67% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 61,644 shares of company stock worth $24,016,214 in the last 90 days. Corporate insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on AVGO shares. Oppenheimer reiterated an “outperform” rating and issued a $535.00 price target (up from $450.00) on shares of Broadcom in a report on Thursday, June 4th. Susquehanna restated a “positive” rating and issued a $490.00 price objective (up from $450.00) on shares of Broadcom in a report on Thursday, May 28th. Zacks Research cut shares of Broadcom from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 21st. Citigroup reiterated a “buy” rating on shares of Broadcom in a research report on Thursday, June 4th. Finally, Mizuho increased their price target on shares of Broadcom from $480.00 to $530.00 and gave the stock an “outperform” rating in a research note on Thursday, June 4th. Twenty-nine equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $491.97.

Get Our Latest Stock Report on AVGO

Broadcom Stock Up 4.5%

Shares of Broadcom stock opened at $371.54 on Friday. Broadcom Inc. has a 1 year low of $287.17 and a 1 year high of $495.00. The firm has a market cap of $1.77 trillion, a price-to-earnings ratio of 61.92, a PEG ratio of 0.68 and a beta of 1.45. The company has a 50-day moving average of $385.92 and a 200 day moving average of $376.31. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01.

Broadcom (NASDAQ:AVGO – Get Free Report) last posted its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, topping the consensus estimate of $2.40 by $0.04. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The business had revenue of $22.19 billion for the quarter, compared to analyst estimates of $22.13 billion. During the same quarter in the previous year, the firm posted $1.58 earnings per share. Broadcom’s quarterly revenue was up 47.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 22nd were paid a $0.65 dividend. The ex-dividend date was Monday, June 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. Broadcom’s dividend payout ratio is presently 43.33%.

About Broadcom

(Free Report)

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.