Broadcom Inc. $AVGO Shares Purchased by Evolve Private Wealth LLC

Key Points

• Evolve Private Wealth LLC increased its Broadcom stake by 9.0% in the first quarter, buying 5,215 additional shares and bringing its total holdings to 63,284 shares worth about $19.6 million.
• Broadcom reported better-than-expected quarterly results, with EPS of $2.44 versus $2.40 expected and revenue of $22.19 billion, up 47.9% year over year.
• The company also announced a quarterly dividend of $0.65 per share, while analysts remain broadly positive with a consensus rating of Moderate Buy and an average target price of $493.24.

Evolve Private Wealth LLC grew its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 9.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 63,284 shares of the semiconductor manufacturer's stock after acquiring an additional 5,215 shares during the period. Broadcom comprises 1.0% of Evolve Private Wealth LLC's investment portfolio, making the stock its 16th biggest holding. Evolve Private Wealth LLC's holdings in Broadcom were worth $19,587,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in the business. ROSS JOHNSON & Associates LLC increased its position in shares of Broadcom by 1,320.0% in the 4th quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer's stock valued at $25,000 after purchasing an additional 66 shares during the last quarter. SWAN Capital LLC increased its stake in Broadcom by 261.9% in the fourth quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer's stock valued at $26,000 after purchasing an additional 55 shares during the period. Miller Global Investments LLC purchased a new stake in Broadcom during the 4th quarter valued at approximately $31,000. Nvest Wealth Strategies Inc. purchased a new position in Broadcom in the 4th quarter valued at $33,000. Finally, Family CFO Inc acquired a new position in shares of Broadcom during the fourth quarter worth about $35,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Stock Down 3.1%

Shares of NASDAQ AVGO opened at $380.15 on Wednesday. The firm has a market cap of $1.81 trillion, a P/E ratio of 63.36, a price-to-earnings-growth ratio of 0.69 and a beta of 1.41. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24. Broadcom Inc. has a 1 year low of $258.77 and a 1 year high of $495.00. The firm's 50 day moving average price is $412.34 and its 200 day moving average price is $363.42.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.04. The business had revenue of $22.19 billion for 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%.The business's revenue was up 47.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.58 earnings per share. As a group, sell-side analysts anticipate that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. Broadcom's payout ratio is currently 43.33%.

Insider Activity at Broadcom

In related news, insider Mark David Brazeal sold 4,825 shares of Broadcom stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $394.91, for a total value of $1,905,440.75. Following the transaction, the insider owned 269,989 shares in the company, valued at approximately $106,621,355.99. This trade represents a 1.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Charlie B. Kawwas sold 10,000 shares of the company's stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $345.23, for a total value of $3,452,300.00. Following the sale, the insider owned 787,184 shares of the company's stock, valued at $271,759,532.32. This represents a 1.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 59,385 shares of company stock worth $21,301,057. 1.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on AVGO. Seaport Research Partners restated a "neutral" rating on shares of Broadcom in a research report on Wednesday, April 8th. Benchmark lifted their target price on shares of Broadcom from $485.00 to $545.00 and gave the stock a "buy" rating in a research report on Thursday, June 4th. DA Davidson upped their price target on shares of Broadcom from $375.00 to $400.00 and gave the company a "neutral" rating in a report on Thursday, June 4th. Oppenheimer restated an "outperform" rating and set a $535.00 price objective (up from $450.00) on shares of Broadcom in a research report on Thursday, June 4th. Finally, Erste Group Bank upgraded Broadcom from a "hold" rating to a "buy" rating in a report on Friday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $493.24.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s AI business remains a major strength, with reports highlighting record semiconductor sales, strong bookings, and customer commitments tied to hyperscaler demand for custom AI chips and networking. Broadcom's AI Push Boosts Semiconductor Sales: More Upside Ahead?
• Positive Sentiment: JPMorgan and other bullish commentary suggested the recent dip could be a buying opportunity, citing Broadcom’s locked-in AI chip partnership with Google through 2031 and expanding AI platform initiatives. Ignore the noise: Top bank says AVGO stock dip is a buying opportunity, points to locked-in Broadcom–Google AI chip deal through 2031
• Neutral Sentiment: Broadcom continues to draw investor attention thanks to its AI XPV platform and custom XPUs, which could support future AI compute demand, but this is more of a long-term growth story than a near-term stock catalyst. How Broadcom’s (AVGO) AI XPV Platform Ties Its Custom XPUs to the Next Wave of AI Compute Demand
• Neutral Sentiment: Recent earnings comparisons showed Broadcom still performing well versus peers, but this appears to be more of a recap of already-known quarterly strength than a new catalyst. A look back at processors and graphics chips stocks’ Q1 earnings: Broadcom NASDAQ: AVGO vs the rest of the pack
• Negative Sentiment: A Barron’s report said Broadcom fell along with other chip stocks in a broader tech selloff, suggesting the stock is being hit by sector-wide risk aversion rather than company-specific weakness. Nvidia, AMD, Broadcom Fall as Tech Selloff Catches Up With Chips
• Negative Sentiment: Broadcom also faced a rating downgrade from Wall Street Zen and a Seeking Alpha note warning that its infrastructure exposure and leverage could create risk despite strong AI momentum. Broadcom: $2 Trillion AI Debt Engine Meets High Infrastructural Risk (Rating Downgrade)

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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