Evolve Private Wealth LLC Buys New Holdings in Broadcom Inc. $AVGO

Evolve Private Wealth LLC purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 58,069 shares of the semiconductor manufacturer’s stock, valued at approximately $20,098,000. Broadcom makes up approximately 1.2% of Evolve Private Wealth LLC’s holdings, making the stock its 14th largest holding.

A number of other hedge funds also recently made changes to their positions in AVGO. Vanguard Group Inc. increased its stake in Broadcom by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer’s stock valued at $167,064,997,000 after acquiring an additional 3,919,715 shares during the period. State Street Corp lifted its stake in Broadcom by 2.7% during the fourth quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer’s stock worth $65,788,194,000 after purchasing an additional 5,040,801 shares during the period. Geode Capital Management LLC boosted its holdings in Broadcom by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 111,277,280 shares of the semiconductor manufacturer’s stock valued at $38,396,634,000 after purchasing an additional 1,548,699 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Broadcom by 3.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 85,546,083 shares of the semiconductor manufacturer’s stock valued at $29,607,500,000 after purchasing an additional 2,491,644 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Broadcom in the 4th quarter valued at approximately $24,252,196,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: JPMorgan reiterated a bullish stance on Broadcom, saying the market may be underestimating its long-term AI opportunity and calling the shares attractive at current levels. Barrons article
• Positive Sentiment: Other coverage highlighted Broadcom’s “massive AI pipeline” and the company’s growing role in AI infrastructure, reinforcing expectations for multi-year revenue growth. Benzinga article
• Positive Sentiment: Broadcom announced pricing terms for cash tender offers to repurchase portions of its outstanding debt, a move that can support balance-sheet management and financial flexibility. PR Newswire article
• Neutral Sentiment: Commentary on Broadcom’s latest quarter noted strong AI-chip demand and revenue growth, but also pointed to gross margin pressure and cautious guidance, which may be keeping some investors from getting more aggressive. Zacks article
• Negative Sentiment: Some broader AI-stock commentary has compared today’s AI capex boom to the dot-com era, renewing valuation and cycle-risk concerns across the sector that could weigh on sentiment for AVGO. 247WallSt article

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Evercore reissued an “outperform” rating and issued a $582.00 target price on shares of Broadcom in a report on Tuesday, May 19th. Jefferies Financial Group set a $550.00 price target on Broadcom and gave the company a “buy” rating in a research report on Thursday, June 4th. Cantor Fitzgerald reiterated an “overweight” rating and set a $525.00 price objective on shares of Broadcom in a research note on Thursday, June 4th. Wells Fargo & Company restated an “overweight” rating and issued a $545.00 target price (up from $430.00) on shares of Broadcom in a research note on Thursday, May 14th. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $575.00 target price (up from $500.00) on shares of Broadcom in a report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $490.13.

Insider Buying and Selling

In other news, Director Gayla J. Delly sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $358.31, for a total transaction of $358,310.00. Following the transaction, the director directly owned 32,352 shares in the company, valued at approximately $11,592,045.12. This represents a 3.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider S. Ram Velaga sold 17,260 shares of the stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $352.12, for a total transaction of $6,077,591.20. Following the sale, the insider directly owned 65,932 shares in the company, valued at $23,215,975.84. This trade represents a 20.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 51,233 shares of company stock valued at $18,125,134. Insiders own 1.90% of the company’s stock.

Broadcom Trading Up 4.3%

Shares of AVGO opened at $392.90 on Thursday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24. The company has a market cap of $1.87 trillion, a price-to-earnings ratio of 65.48, a PEG ratio of 0.66 and a beta of 1.41. The stock has a fifty day moving average price of $408.66 and a two-hundred day moving average price of $363.11. Broadcom Inc. has a 52-week low of $244.17 and a 52-week high of $495.00.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.40 by $0.04. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The company had revenue of $22.19 billion during the quarter, compared to analyst estimates of $22.13 billion. During the same period last year, the company posted $1.58 earnings per share. The firm’s quarterly revenue was up 47.9% compared to the same quarter last year. Analysts predict that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, June 22nd. Broadcom’s dividend payout ratio (DPR) is presently 43.33%.

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.