Broadcom Inc. $AVGO Shares Purchased by Elevation Point Wealth Partners LLC

Key Points

• Elevation Point Wealth Partners LLC more than doubled its Broadcom stake in Q1, increasing holdings by 110.1% to 165,864 shares valued at about $51.3 million. Broadcom now ranks as the firm’s 10th largest position.
• Broadcom’s latest quarter beat expectations, reporting $2.44 EPS on $22.19 billion in revenue, with revenue up 47.9% year over year. The company also said it paid a quarterly dividend of $0.65 per share, equal to a $2.60 annualized payout.
• Investor sentiment remains constructive, supported by a long-term chip partnership with Apple through 2031 and generally bullish Wall Street ratings. Analysts currently have a consensus “Moderate Buy” rating with a target price of $493.24.

Elevation Point Wealth Partners LLC grew its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 110.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 165,864 shares of the semiconductor manufacturer's stock after purchasing an additional 86,930 shares during the quarter. Broadcom comprises about 1.2% of Elevation Point Wealth Partners LLC's investment portfolio, making the stock its 10th largest position. Elevation Point Wealth Partners LLC's holdings in Broadcom were worth $51,337,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in AVGO. Sharp Wealth Advisory LLC increased its stake in shares of Broadcom by 62.3% in the first quarter. Sharp Wealth Advisory LLC now owns 5,870 shares of the semiconductor manufacturer's stock valued at $1,817,000 after buying an additional 2,254 shares in the last quarter. Platform Technology Partners grew its holdings in Broadcom by 59.9% during the 1st quarter. Platform Technology Partners now owns 5,614 shares of the semiconductor manufacturer's stock worth $1,737,000 after acquiring an additional 2,104 shares during the last quarter. Sound Income Strategies LLC increased its position in Broadcom by 3.1% in the 1st quarter. Sound Income Strategies LLC now owns 12,564 shares of the semiconductor manufacturer's stock valued at $3,939,000 after acquiring an additional 379 shares in the last quarter. Jamison Private Wealth Management Inc. increased its position in Broadcom by 1.8% in the 1st quarter. Jamison Private Wealth Management Inc. now owns 49,393 shares of the semiconductor manufacturer's stock valued at $15,288,000 after acquiring an additional 871 shares in the last quarter. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. raised its stake in shares of Broadcom by 20.4% in the first quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 143,269 shares of the semiconductor manufacturer's stock worth $44,343,000 after acquiring an additional 24,304 shares during the last quarter. Institutional investors own 76.43% of the company's stock.

Broadcom Trading Up 3.7%

NASDAQ:AVGO opened at $373.90 on Tuesday. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. Broadcom Inc. has a 1-year low of $269.58 and a 1-year high of $495.00. The firm has a market capitalization of $1.78 trillion, a price-to-earnings ratio of 62.32, a PEG ratio of 0.63 and a beta of 1.45. The business's 50-day moving average price is $407.92 and its two-hundred day moving average price is $362.49.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, beating analysts' consensus estimates of $2.40 by $0.04. The company had revenue of $22.19 billion during the quarter, compared to analysts' expectations of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.Broadcom's revenue was up 47.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.58 EPS. On average, equities analysts expect that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd were issued a $0.65 dividend. The ex-dividend date was Monday, June 22nd. This represents a $2.60 annualized dividend and a yield of 0.7%. Broadcom's dividend payout ratio (DPR) is 43.33%.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom said it expanded its partnership with Apple through 2031 to develop and supply custom chips, including custom ASIC silicon. That signals durable revenue visibility and reinforces Broadcom’s role in Apple’s AI and edge-computing roadmap. Reuters: Broadcom, Apple extend chip partnership through 2031
• Positive Sentiment: Several market reports said AVGO rose after the Apple agreement, helping boost the broader semiconductor complex and signaling that investors view the deal as a meaningful near-term catalyst. Yahoo Finance: Allegro MicroSystems and Penguin Solutions Shares Skyrocket
• Positive Sentiment: Analysts and commentary continue to frame Broadcom as a core AI infrastructure name, with some arguing its custom AI silicon and networking exposure justify a premium valuation and support higher earnings estimates. Seeking Alpha: Broadcom's AI Infrastructure Model Justifies Its Premium Valuation
• Neutral Sentiment: Broader sector momentum is helping AVGO, as chip and memory stocks have rallied on improving sentiment across the AI trade and upbeat Wall Street notes.
• Neutral Sentiment: Some articles highlighted that Broadcom has fallen over the past month and that near-term guidance has disappointed, which may temper enthusiasm despite the Apple and AI positives. Zacks: Broadcom Drops 9% in a Month: Buy, Sell or Hold the AVGO Stock?
• Negative Sentiment: One bearish overhang is concern that Broadcom’s largest AI customer may shift business to MediaTek, raising questions about how concentrated or defensible some of AVGO’s AI custom-chip revenue could be. MSN: Broadcom’s largest AI customer is fleeing to MediaTek

Insider Buying and Selling

In other news, Director Harry L. You purchased 1,000 shares of Broadcom stock in a transaction dated Thursday, June 11th. The shares were bought at an average cost of $373.57 per share, with a total value of $373,570.00. Following the completion of the transaction, the director directly owned 38,466 shares in the company, valued at $14,369,743.62. This trade represents a 2.67% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark David Brazeal sold 4,825 shares of the business's stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $394.91, for a total transaction of $1,905,440.75. Following the completion of the transaction, the insider directly owned 269,989 shares of the company's stock, valued at $106,621,355.99. This trade represents a 1.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 60,987 shares of company stock valued at $21,899,980. 1.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

AVGO has been the topic of a number of research reports. Royal Bank Of Canada upped their target price on shares of Broadcom from $360.00 to $400.00 and gave the stock a "sector perform" rating in a research report on Thursday, June 4th. Seaport Research Partners reaffirmed a "neutral" rating on shares of Broadcom in a report on Wednesday, April 8th. Cantor Fitzgerald reissued an "overweight" rating and issued a $525.00 target price on shares of Broadcom in a research note on Thursday, June 4th. JPMorgan Chase & Co. boosted their target price on Broadcom from $500.00 to $580.00 and gave the stock an "overweight" rating in a research report on Thursday, June 4th. Finally, Citigroup reaffirmed a "buy" rating on shares of Broadcom in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $493.24.

About Broadcom

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.

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