NASDAQ · Technology
AVGO stock analysis: filings, institutional holders, and operating trends
Broadcom sells networking, wireless, storage, broadband, custom silicon, and infrastructure software products used across data centers, enterprise systems, and communications. This page connects filing evidence with ownership, insider activity, forecasts, ETFs, and peer context so each dataset can be checked against the others.
Deterministic, source-linked commentary
The current research read on AVGO
AVGO's current operating picture begins with the latest company report. 10-Q covers CY2025Q4. quarterly revenue was $19.3B; year-over-year growth was 29.5%; operating margin was 44.3%; trailing free cash flow was $24.7B. Read together, these figures test whether scale is translating into profit and cash. Verify periods and company footnotes in the original SEC EDGAR filing.
AVGO's published outlook is useful only while its inputs hold. The forecast scenarios were updated 2026-05-21. Revenue growth, margins, cash generation, and risk assumptions must be checked against each new filing. Compare them with the latest earnings analysis.
Broadcom is easier to assess when each disclosure is read on its own clock. Use institutional ownership, insider filings, earnings analysis, forecast scenarios alongside the filing. Company facts can update before 13F positions, so align every source date and report period before treating a difference as a change in fundamentals.
Business model
Company snapshot
Broadcom sells networking, wireless, storage, broadband, custom silicon, and infrastructure software products used across data centers, enterprise systems, and communications. The latest standardized snapshot records $65.18B of trailing revenue, $2.99B of net income, and $24.73B of free cash flow. These figures describe the reported company, while valuation and price require a separate market-data timestamp.
Operating lines
A named product, service, or operating exposure identified in the company description.
A named product, service, or operating exposure identified in the company description.
A named product, service, or operating exposure identified in the company description.
A named product, service, or operating exposure identified in the company description.
A named product, service, or operating exposure identified in the company description.
A named product, service, or operating exposure identified in the company description.
Geographic revenue mix
The current standardized filing dataset does not extract a comparable geographic revenue table for every issuer. Review the latest 10-K segment note for domestic and international mix, concentration, foreign-exchange sensitivity, and country-specific regulation.
10-Q · 2026-03-11
What the latest filing shows
Revenue for the latest standardized quarter was $19.31B, while diluted EPS was 1.5. Revenue changed 29.5% from the comparable period. Gross margin was 68.1% and operating margin was 44.3%. Margin direction matters because it shows whether growth is translating into operating leverage or requiring more cost to support.
Open original SEC filingEarnings & filings
AVGO earnings calls, releases, and filing evidence
Earnings calls
No authorized call transcript summary is available yet for this ticker.
Filings & announcements
Q2 FY2026 · Earnings Release Summary
Revenue: $22.187B revenue, up 48% year over year; Profitability: adjusted EBITDA was $15.2B, representing 69% of revenue; Guidance: fiscal Q3 revenue guidance was $29.4B, with AI semiconductor revenue expected to reach $16.0B
Source: Broadcom fiscal Q2 2026 results · 2026-06-03Earnings history
| Date | Period | Status | Revenue | EPS | Source |
|---|---|---|---|---|---|
| 2026-06-03 | Q2 FY2026 | Reported | $22.187B | N/A | Broadcom fiscal Q2 2026 results |
| 2026-03-11 | CY2025Q4 | Standardized data | $19.31B | 1.5 | SEC |
CY2025Q4
Earnings analysis
| Period | Revenue | Net income | EPS | Operating margin |
|---|---|---|---|---|
| CY2025Q4 | $19.31B | $715M | 1.5 | 44.3% |
| TTM | $65.18B | $2.99B | 4.52 | 40.7% |
| CY2025 | $63.89B | $5.9B | See filing | 39.9% |
Broadcom's fiscal Q2 2026 report should be read as a stock-outlook reset, not just a beat-or-miss event. The key facts are $22.187B revenue, up 48% year over year, AI semiconductor revenue was $10.8B, up 143% year over year, driven by custom AI accelerators and AI networking, adjusted EBITDA was $15.2B, representing 69% of revenue, and fiscal Q3 revenue guidance was $29.4B, with AI semiconductor revenue expected to reach $16.0B. Bottom line: the report improves the setup only if those numbers support whether Broadcom can keep turning AI custom silicon, networking, and VMware scale into durable operating leverage.
Read detailed earnings analysisScenario analysis
Forecast range
AVGO is a NASDAQ-100 stock with a checked price of 417.76, market cap of 1.98T, and revenue of 68.28B. A practical 2026 scenario map is $313-376 in a bear case, $384-480 in a base case, and $493-606 in a bull case. The forecast depends on semiconductor and AI hardware exposure.
Forecast assumptions
- Revenue growth must be checked against the latest filing and management guidance.
- Current reported operating margin is 40.7%.
- TTM free-cash-flow margin is 37.9%.
- Discount rates and valuation multiples should move when risk-free rates, business risk, or estimate confidence changes.
This is not a buy or sell recommendation. Forecasts are conditional ranges whose assumptions can fail.
Open forecast methodology and scenariosTechnology
Peer comparison
| Company | TTM revenue | Revenue growth | Operating margin | Tracked holders |
|---|---|---|---|---|
| AVGOBroadcom | $65.18B | 29.5% | 40.7% | 0 |
| ORCLOracle Corporation | $62.3B | 21.7% | 30.2% | 0 |
| CSCOCisco | $60.22B | 12% | 23.8% | 0 |
| MUMicron Technology | $54.86B | 196.3% | 47.8% | 0 |
| INTCIntel | $52.76B | 7.2% | -11.2% | 0 |
| CRMSalesforce | $41.46B | 13.3% | 21.2% | 0 |
| AMDAdvanced Micro Devices | $34.62B | 37.8% | 9.9% | 4 |
AVGO's 29.5% revenue growth and 40.7% operating margin should be read against peers using the same reporting definitions. A higher margin may reflect pricing power or business mix, while a lower margin can reflect investment, cyclicality, or weaker economics.
Fund ownership
ETF exposure
AVGO appears among the disclosed top holdings of 10 tracked ETFs shown below. ETF weights change with price movement, rebalancing, creations, redemptions, and issuer methodology.
| ETF | AVGO weight | AUM | Holdings date |
|---|---|---|---|
| VOOVanguard S&P 500 ETF | 3.20% | $960.58B | Apr 30, 2026 |
| IVViShares Core S&P 500 ETF | 3.09% | $823.49B | May 19, 2026 |
| SPYState Street SPDR S&P 500 ETF | 3.14% | $761.47B | May 18, 2026 |
| VTIVanguard Total Stock Market ETF | 2.85% | $640.84B | Apr 30, 2026 |
| QQQInvesco QQQ Trust Series I | 3.34% | $466.45B | May 15, 2026 |
| VUGVanguard Growth ETF | 5.20% | $224.72B | Apr 30, 2026 |
| IWFiShares Russell 1000 Growth ETF | 5.51% | $128.66B | May 19, 2026 |
| VGTVanguard Information Technology ETF | 4.60% | $136.23B | Apr 30, 2026 |
| SPYMState Street SPDR Portfolio S&P 500 ETF | 3.12% | N/A | Apr 15, 2026 |
| VIGVanguard Dividend Appreciation ETF | 5.16% | $106.65B | Apr 30, 2026 |
10-K · 2025-12-18
Key risk factors disclosed in the latest 10-K
The categories below are a deterministic research checklist anchored to Broadcom's industry and latest annual filing. They summarize areas investors should locate in Item 1A; they do not replace the company's exact legal disclosure.
- Demand and product-cycle risk: Semiconductors and infrastructure software can experience changing customer demand, replacement cycles, and competitive product launches that affect revenue timing.
- Competition and execution: Market share depends on product quality, pricing, distribution, innovation, and management's ability to convert investment into durable customer demand.
- Supply chain and counterparties: Supplier concentration, logistics disruption, component availability, and customer concentration can affect delivery schedules, costs, and working capital.
- Regulation and litigation: Antitrust, privacy, securities, labor, tax, environmental, and industry-specific rules may change costs or restrict products and business practices.
- Financial and market risk: Foreign exchange, interest rates, credit conditions, investment values, and capital-allocation decisions can affect reported earnings and valuation.
Shareholder returns
Dividend and buyback history
Dividend
Broadcom reported $11.43B of dividends paid over the trailing period and $3.09B in the latest standardized quarter. These are company cash outflows, not a per-share forward yield.
Share buybacks
The standardized snapshot does not currently expose a reliable repurchase authorization and share-count bridge for every issuer. Compare diluted shares outstanding across filings and read the capital-return note before concluding that buybacks reduced the share base.
Research workflow
Common research questions about AVGO
Who is the largest tracked institutional holder of AVGO?
The current tracked-manager sample does not identify an active AVGO holder. The AVGO ownership page will reflect a matching position when one enters the filing dataset.
What does recent insider activity show for AVGO?
No recent Form 4 transaction appears in the current AVGO window. Check the AVGO Form 4 history for later company-officer or director filings.
What business does Broadcom operate?
Broadcom sells networking, wireless, storage, broadband, custom silicon, and infrastructure software products used across data centers, enterprise systems, and communications. The AVGO company snapshot connects that business description with reported revenue, profit, and cash flow.
How does AVGO compare with a close operating peer?
AVGO's revenue growth is 29.5% and its operating margin is 40.7%. Compare those figures with ORCL research using the same definitions.
What do the latest financials say about AVGO?
10-Q reports $65.2B of trailing revenue, with revenue growth of 29.5% and an operating margin of 40.7%. The supporting period and source are listed in the AVGO filing section.
How strong is AVGO's cash return profile?
Broadcom reported $11.4B of trailing dividends paid alongside $24.7B of free cash flow. The AVGO capital-return section separates company cash outflows from a forward per-share yield.
Which assumptions matter most for the AVGO outlook?
The AVGO range depends on revenue growth, operating margin, cash conversion, and the risk assumptions in each new filing. Recheck them in the AVGO forecast section.
Primary and reference data
Sources and methodology
- Filings: SEC EDGAR CompanyFacts, 10-K, 10-Q, 8-K, Form 4, 13F-HR.
- Fundamentals: SEC EDGAR CompanyFacts; market references may use yfinance and Finnhub where explicitly available.
- ETF: Issuer disclosures and the locally dated ETF holdings snapshot.
Methodology: How SnowballHare parses and validates data.
Editorial standards: How research is published.
Disclaimer: Informational only; not investment, legal, or tax advice. Cross-check material facts against original filings before acting.
Reference notes
Data notes
Reporting dates
Use filing dates, report periods, and source links together for AVGO. A company filing, a 13F disclosure, a Form 4 transaction, and an earnings release can describe different time windows, so the date beside each row matters before comparing signals.
Ownership context
13F rows are delayed public long-equity snapshots from a selected manager universe. They are useful for seeing which tracked institutions reported exposure, but they do not show every hedge, short position, cash balance, or trade made after the quarter ended.
Insider transactions
Form 4 activity should be read by transaction type, role, value, and remaining ownership. Open-market purchases and sales are different from grants, option exercises, gifts, or tax withholding, and the original SEC filing is still the controlling document.
Earnings and forecasts
Earnings pages and forecast pages are linked when a supported article exists. Treat those pages as context for reported numbers, guidance, margins, and scenario assumptions, then return to the table data when you need the underlying source date or filing trail.