Overview
- Broadcom shares rose 4.69% to close at $371.46 on heavy trading after it announced multi-year AI chip supply agreements with Google and Anthropic.
- The contracts position Broadcom as a key supplier of custom AI accelerators and networking silicon for two major cloud platforms.
- During the rally, three insiders sold about $14.8 million in stock, including S. Ram Velaga at $10.64 million, Charlie Kawwas at $3.45 million, and director Justine Lien at $712,354.
- Wall Street is broadly positive, with a consensus Moderate Buy, an average 12‑month price target near $435, and several firms guiding toward $485 to $500.
- Some research shops urged caution with downgrades or neutral calls that flagged a rich valuation and uncertain margins, despite a recent Q1 beat and rising institutional ownership.