PineStone Asset Management 13F: New $127M Stake in AVGO

PineStone Asset Management established a new stake in Broadcom Inc. (NasdaqGS: AVGO), purchasing 361,120 shares. The holdings were valued at approximately $126.8 million based on the disclosure filed with the Securities and Exchange Commission on October 16, 2026. Because 13F filings look backward at holdings from the close of a previous quarter, this report reflects positions at that time and may not capture the investor's current footprint.

What Changed in PineStone Asset Management's Broadcom Position

PineStone initiated a brand-new position in the semiconductor company during the period, picking up 361,120 shares. The newly established stake carried a reported value of $126.8 million. Because this is a fresh holding, there was no prior share count or percentage change to report.

Other Institutional Activity in Broadcom

Blackrock Inc. grew its holdings by 12,272,921 shares, ending with 398,213,826 shares worth about $130,912,795,297. Vanguard Capital Management LLC grew its holdings by 1,139,707 shares, ending with 309,168,582 shares worth about $101,639,171,332. State Street Corporation grew its holdings by 5,511,990 shares, ending with 196,900,541 shares worth about $64,731,052,853. FMR, LLC grew its holdings by 20,243,298 shares, ending with 144,359,173 shares worth about $47,458,078,123. Vanguard Portfolio Management LLC reduced its holdings by 1,425,540 shares, ending with 127,001,513 shares worth about $41,751,747,398.

Broadcom Inc. Stock Down 4.4%

Broadcom shares recently traded around $330.93. The stock sits roughly 33.1% below its 52-week high of $495.00 and about 14.1% above its 52-week low of $289.96. The company carries a market capitalization of roughly $1.64 trillion and a forward P/E ratio of 17.75.

Recent Earnings

Broadcom generated trailing-twelve-month revenue of $89.1 billion alongside earnings of $7.59 per share. The firm posted a net profit margin of 42.9% and a return on equity of 44.2%. Year-over-year revenue growth reached 85.5%. The company's next earnings update is scheduled for December 9, 2026.

Dividend

Broadcom pays an annual dividend yielding 0.76%, backed by a dividend payout ratio of 32.4%.

Insider Buying and Selling at Broadcom Inc.

Director Justine F. Page sold 1,602 shares on June 29, 2026, at an average price of $373.86 for a total value of $598,916. Director Gayla J Delly sold 1,890 shares on July 8, 2026, at an average price of $385.38 for a total value of $728,368. Officer Mark David Brazeal sold 25,000 shares on July 8, 2026, at $379.19 per share, totaling $9,479,700. Mr. Brazeal later sold another 25,000 shares on July 10, 2026, at $401.33 per share, bringing that transaction value to $10,033,225. None of these transactions were reported as executed under a Rule 10b5-1 plan.

Analysts Set New Price Targets

On September 3, 2026, Macquarie upgraded the stock to an Outperform rating with a $490.00 price target. On the same day, Raymond James maintained an Outperform rating while lifting its target to $475.00 from $450.00. Citigroup maintained a Buy rating on September 4, 2026, raising its target to $515.00 from $500.00. DA Davidson maintained a Neutral rating on September 4, 2026, lowering its target to $350.00 from $400.00. Piper Sandler initiated coverage on September 10, 2026, with an Overweight rating and a $460.00 price target. Across the broader analyst community, the stock carries a consensus Strong Buy recommendation and a mean target price of $527.59 based on 47 analyst opinions.

About Broadcom

Headquartered in Palo Alto, California, Broadcom designs, develops, and supplies a wide range of semiconductor devices and infrastructure software products. The enterprise operates across two main divisions: Semiconductor Solutions and Infrastructure Software, serving customers globally across networking, enterprise storage, and broadband markets.

Bottom Line

PineStone's new stake highlights institutional interest in the chipmaker despite recent price pullbacks. Investors will look toward the upcoming earnings release on December 9, 2026, for further insight into operational performance and segment growth. Keep in mind that 13F filings are backward-looking: they show holdings as of the end of the reporting quarter and may not represent the fund's current position.