Eleva Capital SAS Makes New $11.23 Million Investment in Broadcom Inc. $AVGO

Key Points

• Eleva Capital SAS bought a new $11.23 million Broadcom stake, purchasing 31,991 shares during the third quarter. Broadcom now represents about 9.4% of Eleva’s portfolio and is its third-largest position.
• Broadcom reported quarterly revenue of $29.59 billion, up 85.5% year over year, and EPS of $3.32, exceeding analyst expectations. The company also pays a quarterly dividend of $0.65 per share, yielding approximately 0.7%.
• Analysts remain broadly bullish, with 37 Buy ratings, one Strong Buy and three Holds; the consensus price target is $527.20. Shares recently traded at $377.06, while institutional investors own 76.43% of the stock.

Eleva Capital SAS purchased a new stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 31,991 shares of the semiconductor manufacturer's stock, valued at approximately $11,235,000. Broadcom makes up approximately 9.4% of Eleva Capital SAS's investment portfolio, making the stock its 3rd biggest position.

Several other institutional investors also recently modified their holdings of the business. State Street Corp boosted its holdings in shares of Broadcom by 8.7% during the 2nd quarter. State Street Corp now owns 208,031,610 shares of the semiconductor manufacturer's stock valued at $75,367,711,000 after acquiring an additional 16,651,378 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Broadcom by 4.6% during the second quarter. Bank of America Corp DE now owns 61,423,013 shares of the semiconductor manufacturer's stock valued at $23,202,543,000 after purchasing an additional 2,685,916 shares during the last quarter. Wellington Management Group LLP lifted its position in Broadcom by 3.8% during the second quarter. Wellington Management Group LLP now owns 51,580,703 shares of the semiconductor manufacturer's stock valued at $19,484,611,000 after purchasing an additional 1,892,721 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Broadcom by 2.9% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 40,180,530 shares of the semiconductor manufacturer's stock worth $15,178,195,000 after purchasing an additional 1,140,598 shares during the last quarter. Finally, Legal & General Group Plc bought a new stake in Broadcom in the 2nd quarter worth approximately $11,998,148,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AVGO has been the subject of a number of research reports. Truist Financial decreased their target price on shares of Broadcom from $550.00 to $520.00 and set a "buy" rating for the company in a research note on Thursday, September 3rd. Piper Sandler started coverage on Broadcom in a research report on Wednesday, September 9th. They set an "overweight" rating and a $460.00 price objective for the company. BMO Capital Markets increased their target price on Broadcom from $455.00 to $575.00 and gave the company an "outperform" rating in a report on Thursday, September 3rd. Cantor Fitzgerald raised their target price on Broadcom from $525.00 to $600.00 and gave the stock an "overweight" rating in a research report on Thursday, September 3rd. Finally, Rosenblatt Securities initiated coverage on Broadcom in a research note on Thursday, September 3rd. They set a "buy" rating and a $600.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, thirty-seven have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Broadcom presently has an average rating of "Moderate Buy" and a consensus price target of $527.20.

Broadcom Stock Performance

NASDAQ AVGO traded up $14.55 on Tuesday, hitting $377.06. 16,158,093 shares of the company traded hands, compared to its average volume of 25,075,816. The business's 50 day moving average price is $372.33 and its 200-day moving average price is $381.36. Broadcom Inc. has a 52-week low of $289.96 and a 52-week high of $495.00. The company has a current ratio of 2.50, a quick ratio of 2.29 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $1.80 trillion, a price-to-earnings ratio of 48.25 and a beta of 1.46.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 EPS for the quarter, topping analysts' consensus estimates of $3.22 by $0.10. Broadcom had a return on equity of 48.33% and a net margin of 42.94%.The business had revenue of $29.59 billion during the quarter, compared to analysts' expectations of $29.24 billion. During the same quarter in the prior year, the business posted $1.69 earnings per share. The business's quarterly revenue was up 85.5% on a year-over-year basis. Equities analysts expect that Broadcom Inc. will post 10.37 earnings per share for the current year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st were issued a dividend of $0.65 per share. The ex-dividend date of this dividend was Monday, September 21st. This represents a $2.60 annualized dividend and a yield of 0.7%. Broadcom's payout ratio is currently 33.21%.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Marvell Technology’s investor day highlighted strong demand for custom AI accelerators, reinforcing Broadcom’s position as a key design partner for hyperscale cloud companies. The read-through helped lift sentiment toward Broadcom’s custom-chip and networking businesses. Marvell Rallies 6% as Investor Day Presses the Custom AI Silicon Case; Broadcom Advances 4%
• Positive Sentiment: A reported financing arrangement involving Anthropic and up to $42 billion of Broadcom chips could create a substantial future order pipeline. Anthropic’s potential capital raise or IPO could also give the AI company more funds to purchase computing infrastructure. Broadcom Stock Jumps Following Reported $42 Billion Financing Deal With Anthropic
• Positive Sentiment: Morgan Stanley said Broadcom and Nvidia may be relatively protected from a projected U.S. data-center power shortfall, supporting the view that near-term electricity constraints may delay some AI projects without materially undermining demand for their chips and infrastructure. Nvidia, Broadcom May Be Surprisingly Safe From a 32-GW Hole in the AI Boom
• Positive Sentiment: Recent coverage continues to emphasize exceptional AI growth: fiscal third-quarter AI semiconductor revenue reportedly reached $16.7 billion, up 221% year over year, with fourth-quarter guidance of $21.7 billion. That momentum supports expectations for continued earnings growth into the next report. Broadcom Trades Above Its Own Average Multiple While Growth Cools
• Neutral Sentiment: Articles comparing Broadcom with Nvidia frame AVGO as a different AI investment: custom accelerators, networking and infrastructure software rather than a broad GPU platform. The comparison may attract investors seeking diversified exposure to AI spending, but does not represent a new company announcement. Nvidia vs. Broadcom: Which AI Chip Stock Is the Better Buy Now?
• Negative Sentiment: The Anthropic transaction has raised concerns about circular financing because Broadcom may be providing funding to a customer that then uses the money to buy Broadcom products. Such arrangements could increase execution and customer-concentration risks, particularly while AVGO trades at a premium earnings multiple. Broadcom’s Massive $42 Billion Chip-Buying Deal with Anthropic Raises Circular Financing Worries

Insider Buying and Selling

In related news, Director Gayla J. Delly sold 1,890 shares of Broadcom stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $385.38, for a total transaction of $728,368.20. Following the transaction, the director owned 31,326 shares in the company, valued at approximately $12,072,413.88. The trade was a 5.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark Brazeal sold 25,000 shares of the company's stock in a transaction on Friday, July 10th. The stock was sold at an average price of $401.33, for a total transaction of $10,033,250.00. Following the completion of the transaction, the insider directly owned 194,989 shares of the company's stock, valued at $78,254,935.37. This represents a 11.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 51,890 shares of company stock valued at $20,241,368. Company insiders own 1.90% of the company's stock.

Broadcom Profile

Broadcom Inc NASDAQ: AVGO is a global technology company that designs, develops, and supplies semiconductor and infrastructure software products. Its semiconductor solutions support wired and wireless communications, data center networking, broadband access, storage, industrial applications, and other markets.

The company's semiconductor portfolio includes networking and switching products, custom application-specific integrated circuits, wireless connectivity components, radio-frequency devices, optical components, and storage-related solutions.

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