Broadcom (AVGO) Stock Today: AI Megadeals, Goldman’s $435 Price Target and Institutional Buying – November 29, 2025

Broadcom Inc. (NASDAQ: AVGO) heads into the last days of November trading right next to its all‑time high, powered by AI chip megadeals, a fresh Goldman Sachs price target of $435, and a wave of institutional buying – even as insiders continue to lock in big profits. TechStock²+1

Below is a full roundup of everything new hitting Broadcom stock on November 29, 2025, plus how it fits into the bigger AVGO story ahead of December’s earnings.

Broadcom stock snapshot on November 29, 2025

Because November 29 is a Saturday, the latest trading data come from Friday’s close:

• Last close (Nov. 28, 2025): around $403 per share, essentially at Broadcom’s record high. TechStock²+2StockAnalysis+2
• Market cap: roughly $1.9 trillion, putting Broadcom firmly in the mega‑cap AI elite. ^[1]
• 12‑month range: about $138.10 – $403.00. ^[2]
• Valuation:
  • Trailing P/E ≈ 103; forward P/E estimated around the 80x range. ^[3]
  • PEG ratio about 1.35, reflecting high growth expectations. ^[4]
• Dividend: quarterly dividend of $0.59 per share, for a forward yield of about 0.59% as of today. ^[5]

A detailed feature on TS2 Tech notes that Broadcom shares are up roughly two‑thirds year‑to‑date, finishing November as one of the few large‑cap tech winners in a choppy month for the sector. TechStock²

All the key Broadcom (AVGO) headlines dated November 29, 2025

Here’s what actually dropped today, November 29, 2025, across major financial outlets:

1. Insider Monkey / Goldman Sachs: “Broadcom (AVGO) Eyes Major AI Growth in 2026; Analysts Raise PT Before Earnings”

• Core story: Insider Monkey reports that Goldman Sachs analyst James Schneider reiterated a Buy rating on Broadcom and raised his price target from $380 to $435. ^[6]
• Focus for Q4 earnings:
  • FY 2026 AI revenue guidance,
  • contributions from Google and OpenAI,
  • gross margin trends as Broadcom ramps shipments of custom XPUs (accelerators). ^[7]
• Goldman’s AI math: the note projects Broadcom’s AI revenue could reach about $45.4 billion in FY 2026 (up ~128% YoY) and $77.3 billion in FY 2027 (up ~70% YoY), leaning heavily on custom chips for hyperscalers. ^[8]

Taken together, the article frames Broadcom as a core hardware enabler of the AI boom, not just a beneficiary of general AI spending. It also underscores that expectations going into earnings are “elevated.”

2. Insider Monkey: “Is Broadcom (AVGO) One of the Best Performing AI Stocks to Invest In?”

• This separate piece, also published today, ranks Broadcom among the “15 Best Performing AI Stocks Heading into 2026.” ^[9]
• It reiterates the Goldman Sachs upgrade and highlights two other bullish voices:
  • Bank of America says Broadcom has the “upper‑hand” in AI, expecting AI sales to grow more than 100% year‑over‑year in 2026, driven by additional TPU projects and Anthropic‑related work.
  • Mizuho flags that Google’s plan to offer TPU capacity to Meta in 2026 and rising demand from Anthropic could provide a short‑term boost to Broadcom’s ASIC business, calling AVGO their “TOP PICK.” ^[10]

The nuance: while the article is bullish on Broadcom, it also hints that some investors are hunting for even more “undervalued” AI names, which matters for positioning rather than fundamentals.

3. Finviz / MarketBeat: “Meta Platforms May Ditch NVIDIA Chips – Here’s Why Investors Care”

While the headline focuses on Meta Platforms, today’s analysis from Finviz and MarketBeat puts Broadcom squarely in the story: ^[11]

• Meta is exploring Google’s TPUs as an alternative to Nvidia GPUs for some AI workloads.
• Those TPUs are custom chips co‑developed by Alphabet and Broadcom – a point repeated in the article and backed by Broadcom’s own positioning as a key TPU design partner. ^[12]
• The implication: if Meta shifts part of its AI spending toward TPU‑based infrastructure, Broadcom could see indirect upside as the silicon supplier, while Nvidia faces more pricing pressure.

This piece reinforces a theme running through much of today’s Broadcom coverage: custom AI chips and networking, not generic GPUs, are AVGO’s edge.

4. TS2 Tech: “Broadcom (AVGO) Stock on November 29, 2025: AI Megadeals, Goldman’s $435 Target and a Gemini 3‑Fueled Rally”

TS2 Tech published a longform breakdown dated November 29 that effectively stitches together the current AVGO narrative: TechStock²

Key points:

• Price action: Broadcom closed Friday at about $402.96, brushing a fresh record high around $403 after a week of AI headlines and analyst upgrades. TechStock²+2StockAnalysis+2
• Weekly move: from around $377.96 at the start of the week to just under $403 – a gain of roughly 6.6% in four sessions. TechStock²
• November outperformance: Broadcom gained about 7.6% for the month, despite the broader S&P 500 information technology sector finishing November in the red. TechStock²
• Valuation snapshot:
  • Trailing P/E ~103,
  • Dividend yield ~0.6%,
  • 52‑week range of roughly $138–$403. PortfoliosLab+3TechStock²+3MarketBeat+3

The article also leans heavily into Broadcom’s role:

• As a design partner for Google’s TPUs powering the new Gemini 3 model. TechStock²+2Finviz+2
• As a key player in multi‑billion‑dollar custom AI chip deals with OpenAI and possibly Anthropic (more on that below). TechStock²+2CoinCentral+2

5. MarketBeat 13F wave: multiple funds adjust their Broadcom stakes

MarketBeat pushed out a cluster of 13F‑based alerts today, all referencing Broadcom holdings as of recent quarters. Individually they’re small news items, but in aggregate they show how institutions are positioning around AVGO at current levels:

• Wealthquest Corp – opened a new position of 898 AVGO shares in Q2, worth roughly $248,000. ^[13]
• Schroder Investment Management Group – boosted its stake by 12.5% to about 9.50 million shares, worth roughly $2.62 billion, making AVGO its 7th‑largest holding (about 2.2% of its portfolio). ^[14]
• West Family Investments Inc. – increased its AVGO holdings by 93.3% to 18,945 shares, valued at about $5.22 million (roughly 1.3% of that fund’s portfolio). ^[15]
• New York State Common Retirement Fund – trimmed its stake by 45,467 shares (‑0.8%), but still holds 5.63 million shares worth around $1.55 billion, making Broadcom the fund’s 6th‑largest position. ^[16]
• Mackenzie Financial Corp – increased its stake by 3.7% to roughly 2.35 million shares (about $648 million) and 0.8% of its portfolio. ^[17]
• WealthTrust Axiom LLC – took a new position of 807 shares (~$222,000). The same piece notes that institutional investors own about 76.43% of Broadcom’s float and reiterates a consensus Buy rating with a $377.61 average price target. ^[18]
• Stablepoint Partners LLC – lifted its AVGO stake by 5.2% to 41,569 shares, worth about $11.46 million, making Broadcom the firm’s second‑largest holding (around 1.9% of its portfolio). ^[19]

The common thread: institutional ownership remains extremely high (over 76%), and many funds are still adding at or near all‑time highs, though some big pension money (like New York State’s) is trimming slightly. ^[20]

Earnings momentum: what Broadcom’s Q3 numbers say

Most of today’s commentary leans on Broadcom’s Q3 FY25 earnings, released in early September, and what they imply for the next few quarters:

• Q3 FY25 results:
  • Revenue: about $16.0 billion, up 22% year‑over‑year.
  • EPS:$1.69, slightly above the $1.66 consensus.
  • Gross margin: around 78.4%.
  • Free cash flow: roughly $7 billion (~44% of revenue). ^[21]
• AI semiconductor segment:
  • AI chip revenue hit roughly $5.2 billion, +63% YoY in Q3. ^[22]
  • Management guided Q4 AI semiconductor revenue to about $6.2 billion, up ~66% YoY and marking the 11th straight quarter of AI growth. ^[23]
• Q4 FY25 guidance:
  • Total revenue of about $17.4 billion, a 24% YoY increase, with adjusted EBITDA targeted at around 67% of revenue. ^[24]

Broadcom’s backlog for AI‑related hardware and software has swelled into the tens of billions of dollars, with one Q3 commentary putting remaining performance obligations at around $27.5 billion, helped by long‑term AI hardware contracts. ^[25]

Next catalyst: most calendars currently show Broadcom reporting Q4 FY25 earnings on December 11, 2025, after the market close – a date repeatedly flagged in analyst research as the next big checkpoint for the AI thesis. ^[26]

AI megadeals: Google, OpenAI, Anthropic and a $10+ billion order

Today’s articles don’t introduce entirely new deals, but they heavily recycle and amplify headlines from the past couple of months:

• $10+ billion OpenAI collaboration:
  • A widely cited October piece notes that Broadcom announced a $10 billion‑plus AI chip collaboration with OpenAI, tied to a 10‑gigawatt AI rack project and custom accelerators. ^[27]
  • The news sent AVGO shares up nearly 10% in a single session back in October and is still being referenced in today’s coverage as a foundation for the bullish long‑term view. ^[28]
• Unnamed $10+ billion AI rack order:
  • On the Q3 earnings call, CEO Hock Tan said Broadcom secured over $10 billion of orders for AI racks based on its XPUs from a customer that moved from “prospect” to “qualified” status. ^[29]
  • Research from firms like Mizuho and press coverage suggest this may be tied to Anthropic, though neither side has confirmed it. TechStock²+2Insider Monkey+2
• Google TPUs & Gemini 3:
  • Google’s Gemini 3 model is believed to rely heavily on TPUs that Broadcom helped design. TS2 Tech notes that since Gemini 3’s launch on November 18, AVGO shares have risen about 16%, as investors reassessed Broadcom’s role in Google’s AI stack. TechStock²+2Finviz+2
• Social & options buzz:
  • QuiverQuant’s sentiment tracker shows X (Twitter) chatter dominated by the multi‑billion‑dollar AI chip partnership, with traders pointing to double‑digit single‑day gains and calling the deal a “game‑changer.” ^[30]

The message for AVGO bulls: Broadcom is increasingly viewed as the “plumbing” behind AI data centers – from application‑specific accelerators (XPUs/ASICs) to high‑end Ethernet and routing silicon like Tomahawk 6 and next‑generation Jericho chips. TechStock²+2Investing.com+2

VMware licensing and regulatory overhang: still a risk in the background

While today’s headlines are dominated by AI, yesterday’s TS2 Tech piece – which is still being heavily referenced – reminds investors that Broadcom’s VMware business is a double‑edged sword: TechStock²+1

• The $61 billion VMware acquisition has turned Broadcom into a hardware‑plus‑software giant and helped drive infrastructure software revenue to about $6.8 billion in Q3, up 17% YoY. ^[31]
• At the same time, Broadcom’s VMware licensing changes are drawing lawsuits, customer migrations and regulatory scrutiny in Europe, as some enterprises complain about price hikes and contract rigidity. TechStock²+1

For the stock, the takeaway is that AI excitement currently outweighs VMware concerns, but any negative regulatory or customer‑loss headlines could easily resurface as a risk factor.

Institutional accumulation vs. heavy insider selling

Today’s MarketBeat alerts paint a picture of institutions adding to Broadcom, but they also highlight aggressive insider selling over the past few months:

Institutional ownership

• Multiple large asset managers – including Schroder, Mackenzie, West Family Investments, Wealthquest, WealthTrust Axiom and Stablepoint Partners – increased or initiated positions in Broadcom during recent quarters, often making AVGO a top‑25 or even top‑5 holding. ^[32]
• Across these filings, MarketBeat estimates institutional investors own about 76.43% of Broadcom’s shares outstanding. ^[33]

Insider activity

QuiverQuant and MarketBeat both point out that insiders have been net sellers in 2025: ^[34]

• Over the past six months, insiders have recorded 93 sales vs. 3 purchases, unloading hundreds of thousands of shares.
• MarketBeat tallies 665,271 shares sold (around $225 million in value) over the last 90 days, while insiders purchased just 3,550 shares (~$1.23 million).
• High‑profile sales include:
  • CEO Hock E. Tan selling around 445,000+ shares across several transactions.
  • Co‑founder Henry Samueli and other executives also trimming positions. ^[35]

Insider selling at these valuations doesn’t automatically signal trouble – many transactions are likely under pre‑planned 10b5‑1 programs – but it does contrast with the “strong buy” tone of institutional flows and Wall Street research.

How Wall Street is valuing Broadcom right now

Different data providers give slightly different snapshots, but they tell a consistent story: analysts love the business, but the stock isn’t cheap.

• StockAnalysis.com shows: ^[36]
  • 28 analysts covering AVGO,
  • a consensus rating of “Strong Buy”,
  • an average 12‑month price target of about $357.25, implying slight downside from ~$403 today,
  • a target range roughly $210–$450.
• MarketBeat’s aggregated data, cited in today’s WealthTrust Axiom article, points to: ^[37]
  • 3 Strong Buy, 31 Buy, 1 Hold ratings,
  • an average target around $377.61.
• A more bullish take from CoinCentral notes a range of $372–$460 among major firms, with the top end tied to the OpenAI chip deal and explosive AI growth assumptions. ^[38]

In short:

Fundamentals and AI growth expectations support the bullish ratings, but after a ~50–70% run in 2025, price targets are catching up rather than leading. ^[39]

Technical & quantitative sentiment

Some model‑driven sites are also updating their Broadcom views today:

• CoinCodex, which uses quantitative indicators, forecasts AVGO could rise about 8.5% over the next month to roughly $437 by late December 2025, and labels the current setup as “Bullish” despite a cautious overall Fear & Greed index. ^[40]

These tools are based largely on recent price action and volatility, not fundamentals, but they do line up with the strong momentum narrative visible in this week’s move to record highs.

Dividend, balance sheet and quality profile

Under all the AI hype, Broadcom still looks like a classic “quality compounder” on several metrics:

• Dividend:
  • Quarterly payout: $0.59 per share,
  • Forward yield: ~0.59%,
  • 3‑year dividend growth rate: around 13.5%. ^[41]
• Leverage & liquidity:
  • Debt‑to‑equity ratio around 0.86,
  • Quick ratio 1.37, current ratio 1.50, indicating solid liquidity. ^[42]
• Profitability:
  • Q3 gross margin near 78%,
  • Adjusted EBITDA margin guided to about 67% in Q4. ^[43]

These numbers help explain why many funds are comfortable owning Broadcom even at a triple‑digit earnings multiple: the company converts a huge portion of its revenue into cash, and the AI backlog gives some visibility into future growth.

Key risks investors are watching

Today’s coverage, especially from Insider Monkey, TS2 Tech and QuiverQuant, surfaces several risks and debate points for AVGO at current levels: Quiver Quantitative+3TechStock²+3TechStock²+3

1. Customer concentration in AI: a large portion of Broadcom’s AI revenue depends on a handful of hyperscalers and AI labs (Google, OpenAI, possibly Anthropic and others). Any shift in their chip strategies could change the growth trajectory quickly.
2. Competition from GPUs and rival ASIC vendors: while custom accelerators and Ethernet networking are strong niches, Nvidia and other semiconductor firms won’t stand still.
3. VMware backlash: licensing changes could push some enterprise customers toward alternatives, or prompt further regulatory scrutiny, especially in Europe.
4. Valuation & multiple compression: at ~100x trailing EPS and a forward P/E far above sector averages, Broadcom is priced for sustained hyper‑growth in AI; any disappointment in guidance or margins could trigger a sharp re‑rating. ^[44]
5. Insider selling optics: heavy insider sales are not necessarily bearish, but they do make some investors more sensitive to any negative surprises. ^[45]

What to watch next for AVGO stock

Heading into December, today’s news flow suggests investors in Broadcom stock will be focused on a handful of concrete data points:

1. December 11 earnings call – confirmation of Q4 numbers and updated FY 2026 AI revenue guidance, especially around XPUs for Google, OpenAI and other hyperscalers. ^[46]
2. Margins in the AI business – whether Broadcom can keep overall margins high as lower‑margin custom accelerators take a bigger share of revenue. ^[47]
3. Updates on the $10+ billion AI chip order – any color on customer identity, timelines or expansion potential. ^[48]
4. VMware growth vs. pushback – traction for VMware Cloud Foundation and related software, versus customer complaints and potential churn. TechStock²+1
5. Regulatory or competitive headlines – especially around TPUs, Meta’s AI infrastructure plans and any new AI chip partnerships that might shift the balance between Nvidia, Broadcom and other players. ^[49]

Bottom line: What today’s news says about Broadcom stock

As of November 29, 2025, the story around Broadcom (AVGO) stock looks like this:

• Fundamentals: strong Q3 results, double‑digit revenue growth, and a rapidly scaling AI business with robust margins and cash flow.
• Narrative: Broadcom is increasingly framed as a foundational AI infrastructure company – from custom accelerators for OpenAI and Google to Ethernet and routing chips that tie AI clusters together. TechStock²+1
• Sentiment:
  • Analysts: overwhelmingly bullish, with price targets catching up to the recent rally.
  • Institutions: heavily invested and, in many cases, still adding.
  • Insiders: monetizing large stakes into strength.
• Valuation: rich. The market is clearly paying a premium for Broadcom’s AI positioning and execution track record.

For investors, today’s wave of articles doesn’t change the core thesis so much as intensify it: Broadcom has become one of the cleanest large‑cap ways to bet on the AI data‑center build‑out – but at today’s near‑record share price, the stock offers far less margin of safety than it did earlier in 2025.

This article is for informational and educational purposes only and does not constitute financial advice, investment recommendation or an offer to buy or sell any security. Always do your own research or consult a licensed financial professional before making investment decisions.

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