Evolve Private Wealth LLC Buys Shares of 48,201 Broadcom Inc. $AVGO

Key Points

• Evolve Private Wealth LLC purchased 48,201 Broadcom shares worth approximately $18.2 million, making AVGO its 14th-largest holding and representing about 1.1% of its portfolio. Institutional investors collectively own 76.43% of Broadcom.
• Broadcom reported quarterly revenue of $29.59 billion, up 85.5% year over year, while EPS of $3.32 exceeded estimates. AI semiconductor revenue surged 221% to $16.7 billion, underscoring strong demand for custom AI accelerators.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $491.97, but Broadcom’s approximately 61-times earnings valuation and fourth-quarter revenue guidance below Wall Street expectations could pressure the stock.

Evolve Private Wealth LLC purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 48,201 shares of the semiconductor manufacturer's stock, valued at approximately $18,208,000. Broadcom accounts for about 1.1% of Evolve Private Wealth LLC's investment portfolio, making the stock its 14th biggest position.

Several other hedge funds have also made changes to their positions in the stock. Cornerstone Advisors LLC bought a new stake in shares of Broadcom during the second quarter valued at about $92,522,000. Bank of America Corp DE boosted its holdings in shares of Broadcom by 1.5% in the first quarter. Bank of America Corp DE now owns 58,737,097 shares of the semiconductor manufacturer's stock valued at $18,179,719,000 after acquiring an additional 894,564 shares in the last quarter. Bartlett & CO. Wealth Management LLC boosted its holdings in shares of Broadcom by 129.3% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 110,048 shares of the semiconductor manufacturer's stock valued at $34,061,000 after acquiring an additional 62,050 shares in the last quarter. First Bank & Trust increased its stake in shares of Broadcom by 17.2% during the second quarter. First Bank & Trust now owns 10,503 shares of the semiconductor manufacturer's stock valued at $3,968,000 after acquiring an additional 1,545 shares during the period. Finally, Fifth Lane Capital LP raised its holdings in Broadcom by 77.8% during the fourth quarter. Fifth Lane Capital LP now owns 4,000 shares of the semiconductor manufacturer's stock worth $1,384,000 after purchasing an additional 1,750 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Insider Activity

In other news, Director Harry L. You acquired 1,000 shares of the firm's stock in a transaction that occurred on Thursday, June 11th. The stock was purchased at an average price of $373.57 per share, with a total value of $373,570.00. Following the purchase, the director owned 38,466 shares of the company's stock, valued at approximately $14,369,743.62. This trade represents a 2.67% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Justine Page sold 1,602 shares of the firm's stock in a transaction on Monday, June 29th. The stock was sold at an average price of $373.86, for a total value of $598,923.72. Following the completion of the sale, the director directly owned 17,426 shares of the company's stock, valued at approximately $6,514,884.36. This trade represents a 8.42% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 61,644 shares of company stock valued at $24,016,214. 1.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AVGO. Evercore reaffirmed an "outperform" rating and set a $582.00 price target on shares of Broadcom in a research note on Tuesday, May 19th. TD Cowen reissued a "buy" rating and issued a $500.00 price objective on shares of Broadcom in a research note on Thursday, June 4th. BMO Capital Markets started coverage on Broadcom in a research note on Thursday, August 20th. They set an "outperform" rating and a $455.00 target price for the company. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $400.00 target price on shares of Broadcom in a report on Wednesday, August 26th. Finally, Oppenheimer reiterated an "outperform" rating and issued a $535.00 price target (up from $450.00) on shares of Broadcom in a research report on Thursday, June 4th. Twenty-nine investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Broadcom currently has an average rating of "Moderate Buy" and an average price target of $491.97.

Broadcom Trading Down 0.7%

NASDAQ:AVGO opened at $367.24 on Thursday. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71. Broadcom Inc. has a 1-year low of $289.96 and a 1-year high of $495.00. The firm has a market capitalization of $1.75 trillion, a price-to-earnings ratio of 61.21, a price-to-earnings-growth ratio of 0.71 and a beta of 1.44. The stock has a fifty day simple moving average of $384.15 and a 200 day simple moving average of $377.14.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $0.10. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The firm had revenue of $29.59 billion for the quarter, compared to the consensus estimate of $29.24 billion. During the same quarter in the previous year, the company earned $1.69 EPS. The business's revenue for the quarter was up 85.5% compared to the same quarter last year. Sell-side analysts forecast that Broadcom Inc. will post 10.24 earnings per share for the current year.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom reported fiscal third-quarter revenue of $29.59 billion, up 85.5% year over year, while non-GAAP EPS of $3.32 exceeded the $3.22 analyst consensus. GAAP profit rose sharply to $13.09 billion from $4.14 billion a year earlier. Broadcom third-quarter earnings report
• Positive Sentiment: AI semiconductor revenue reached $16.7 billion, increasing 221% year over year and 54% sequentially, highlighting strong demand for Broadcom’s custom AI accelerators. The company also generated $13.7 billion in free cash flow and declared a quarterly dividend of $0.65 per share. Broadcom AI semiconductor revenue and guidance
• Neutral Sentiment: Broadcom guided to approximately $34.8 billion in fourth-quarter revenue, representing 93% year-over-year growth, with non-GAAP operating margin of about 66%. The outlook still implies substantial growth, but management did not provide an EPS forecast in the reported guidance.
• Negative Sentiment: The fourth-quarter revenue forecast was below Wall Street expectations of roughly $35.0 billion to $35.03 billion. Investors viewed the shortfall as a sign that competition or execution risks could limit further gains from custom AI processors, particularly after the stock’s strong run and premium valuation. Reuters report on Broadcom guidance
• Negative Sentiment: Broadcom’s elevated valuation—approximately 61 times earnings—left little room for a merely solid outlook. Recent insider activity was also heavily weighted toward selling, although this is a secondary consideration compared with the earnings guidance.

Broadcom Profile

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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