Evelyn Partners Investment Management LLP Purchases 17,301 Shares of Broadcom Inc. $AVGO

Key Points

• Evelyn Partners Investment Management LLP boosted its Broadcom stake by 169.7% in the fourth quarter, buying 17,301 additional shares and bringing its total holdings to 27,499 shares valued at about $9.5 million.
• Broadcom reported strong quarterly results, with revenue up 47.9% year over year to $22.19 billion and EPS of $2.44, slightly ahead of Wall Street estimates. AI-related demand was especially notable, with AI semiconductor revenue up 143% to $10.8 billion and more than $30 billion in AI bookings.
• Despite the solid results, insiders have been selling: S. Ram Velaga and CFO Kirsten M. Spears both sold large blocks of stock, and insiders have sold 324,282 shares over the past three months. Meanwhile, analysts remain largely bullish, with multiple firms raising price targets and the stock holding a consensus rating of “Moderate Buy.”

Evelyn Partners Investment Management LLP increased its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 169.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,499 shares of the semiconductor manufacturer's stock after buying an additional 17,301 shares during the period. Evelyn Partners Investment Management LLP's holdings in Broadcom were worth $9,517,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of AVGO. ROSS JOHNSON & Associates LLC raised its stake in Broadcom by 1,320.0% during the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer's stock worth $25,000 after buying an additional 66 shares during the last quarter. SWAN Capital LLC raised its stake in Broadcom by 261.9% during the fourth quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer's stock worth $26,000 after buying an additional 55 shares during the last quarter. Miller Global Investments LLC bought a new position in Broadcom during the fourth quarter worth $31,000. Nvest Wealth Strategies Inc. bought a new position in Broadcom during the fourth quarter worth $33,000. Finally, Family CFO Inc bought a new position in Broadcom during the fourth quarter worth $35,000. Institutional investors own 76.43% of the company's stock.

Insider Buying and Selling at Broadcom

In other news, insider S. Ram Velaga sold 38,841 shares of Broadcom stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total transaction of $12,491,265.60. Following the completion of the transaction, the insider directly owned 96,147 shares in the company, valued at $30,920,875.20. This trade represents a 28.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kirsten M. Spears sold 36,292 shares of Broadcom stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total transaction of $11,671,507.20. Following the transaction, the chief financial officer owned 327,760 shares of the company's stock, valued at $105,407,616. This represents a 9.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 324,282 shares of company stock valued at $106,425,249 over the last three months. Corporate insiders own 1.90% of the company's stock.

Analyst Upgrades and Downgrades

AVGO has been the subject of a number of research reports. JPMorgan Chase & Co. raised their price target on shares of Broadcom from $500.00 to $580.00 and gave the stock an "overweight" rating in a report on Thursday, June 4th. Erste Group Bank upgraded shares of Broadcom from a "hold" rating to a "buy" rating in a report on Friday, June 5th. Benchmark raised their price target on shares of Broadcom from $485.00 to $545.00 and gave the stock a "buy" rating in a report on Thursday, June 4th. Citigroup restated a "buy" rating on shares of Broadcom in a report on Thursday, June 4th. Finally, Morgan Stanley set a $502.00 price target on shares of Broadcom and gave the stock an "overweight" rating in a report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $490.13.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s quarterly results were very strong, with revenue up 48% to a record $22.2 billion, semiconductor revenue up 79%, AI semiconductor revenue up 143% to $10.8 billion, and more than $30 billion in AI bookings, suggesting demand remains robust. Article Title
• Positive Sentiment: Several analysts and commentators argue the recent drop could be a buying opportunity, saying Broadcom remains a core infrastructure winner in AI and that Wall Street’s long-term outlook is still constructive. Article Title
• Positive Sentiment: Fresh coverage highlighted Broadcom as one of the stocks with catalysts heading into the second half of the year, and some analysts have raised earnings forecasts and price targets despite the selloff. Article Title
• Neutral Sentiment: Jim Cramer said Broadcom’s earnings were “not good” and suggested tech stocks are harder to trust as leadership names, reflecting a more cautious market mood around the stock. Article Title
• Neutral Sentiment: Broadcom also announced cash tender offers for certain outstanding debt securities, a routine balance-sheet move that is unlikely to move the stock by itself. Article Title
• Negative Sentiment: Market commentary says the stock is being punished because investors are nitpicking Broadcom’s AI outlook and pricing the shares as if growth must keep accelerating without any hiccups. Article Title
• Negative Sentiment: One note warned that Broadcom told investors to expect gross profit margins to continue falling, reinforcing concerns that profitability may soften even as revenue grows. Article Title

Broadcom Stock Down 0.9%

Shares of NASDAQ AVGO opened at $382.07 on Friday. The stock has a market capitalization of $1.82 trillion, a P/E ratio of 63.68, a P/E/G ratio of 0.67 and a beta of 1.41. The company has a 50-day moving average price of $404.26 and a 200-day moving average price of $363.33. Broadcom Inc. has a 1 year low of $244.17 and a 1 year high of $495.00. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01.

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

Broadcom Announces Dividend

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

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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