Evolve Private Wealth LLC Buys Shares of 58,069 Broadcom Inc. $AVGO

Evolve Private Wealth LLC bought a new stake in Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 58,069 shares of the semiconductor manufacturer’s stock, valued at approximately $20,098,000. Broadcom comprises about 1.2% of Evolve Private Wealth LLC’s investment portfolio, making the stock its 14th biggest position.

A number of other institutional investors and hedge funds have also modified their holdings of AVGO. Engineers Gate Manager LP increased its holdings in Broadcom by 206.7% in the fourth quarter. Engineers Gate Manager LP now owns 13,342 shares of the semiconductor manufacturer’s stock valued at $4,618,000 after purchasing an additional 8,992 shares during the last quarter. Capitolis Liquid Global Markets LLC boosted its holdings in Broadcom by 0.4% during the fourth quarter. Capitolis Liquid Global Markets LLC now owns 2,262,678 shares of the semiconductor manufacturer’s stock worth $783,113,000 after buying an additional 9,728 shares during the last quarter. Chicago Wealth Management Inc. boosted its holdings in Broadcom by 43.7% during the fourth quarter. Chicago Wealth Management Inc. now owns 1,249 shares of the semiconductor manufacturer’s stock worth $432,000 after buying an additional 380 shares during the last quarter. Cinctive Capital Management LP acquired a new position in shares of Broadcom during the 4th quarter worth about $5,222,000. Finally, City National Bank of Florida MSD grew its position in shares of Broadcom by 21.0% during the 4th quarter. City National Bank of Florida MSD now owns 3,836 shares of the semiconductor manufacturer’s stock worth $1,328,000 after buying an additional 667 shares during the period. 76.43% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, 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 transaction of $3,452,300.00. Following the completion of the transaction, the insider directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gayla J. Delly sold 1,000 shares of Broadcom stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $358.31, for a total value of $358,310.00. Following the completion of the sale, 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 position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 51,233 shares of company stock valued at $18,125,134. Corporate insiders own 1.90% of the company’s stock.

Broadcom News Roundup

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

Several research firms recently weighed in on AVGO. Benchmark lifted their price objective on shares of Broadcom from $485.00 to $545.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $525.00 target price on shares of Broadcom in a research note on Thursday, June 4th. Citigroup reissued a “buy” rating on shares of Broadcom in a research report on Thursday, June 4th. KeyCorp reissued an “overweight” rating and issued a $575.00 price target (up from $500.00) on shares of Broadcom in a report on Thursday, June 4th. Finally, Seaport Research Partners restated a “neutral” rating on shares of Broadcom in a research report on Wednesday, April 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $490.13.

Broadcom Stock Performance

Shares of AVGO opened at $392.90 on Thursday. The firm has a market cap of $1.87 trillion, a P/E ratio of 65.48, a PEG ratio of 0.66 and a beta of 1.41. Broadcom Inc. has a twelve month low of $244.17 and a twelve month high of $495.00. 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 firm’s 50 day moving average price is $408.66 and its two-hundred day moving average price is $363.11.

Broadcom (NASDAQ:AVGO) last issued 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. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The company had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $22.13 billion. During the same quarter in the prior year, the firm earned $1.58 earnings per share. The firm’s revenue was up 47.9% compared to the same quarter last year. On average, analysts forecast that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd will be paid a $0.65 dividend. 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 dividend payout ratio (DPR) is currently 43.33%.

Broadcom Company 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.