Evelyn Partners Investment Management LLP Grows Holdings in Broadcom Inc. $AVGO

Evelyn Partners Investment Management LLP increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 169.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 27,499 shares of the semiconductor manufacturer’s stock after purchasing an additional 17,301 shares during the quarter. Evelyn Partners Investment Management LLP’s holdings in Broadcom were worth $9,517,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AVGO. Brighton Jones LLC boosted its holdings in Broadcom by 21.8% during the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock worth $6,882,000 after purchasing an additional 5,322 shares during the last quarter. Revolve Wealth Partners LLC raised its position in Broadcom by 10.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock worth $1,854,000 after acquiring an additional 756 shares during the period. United Bank raised its position in Broadcom by 76.5% in the first quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock worth $392,000 after acquiring an additional 1,014 shares during the period. Sivia Capital Partners LLC raised its position in Broadcom by 10.1% in the second quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer’s stock worth $3,499,000 after acquiring an additional 1,160 shares during the period. Finally, Capital & Planning LLC raised its position in Broadcom by 10.5% in the second quarter. Capital & Planning LLC now owns 3,983 shares of the semiconductor manufacturer’s stock worth $1,098,000 after acquiring an additional 378 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about Broadcom

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 Performance

NASDAQ AVGO opened at $382.07 on Friday. The company’s 50 day moving average is $404.26 and its 200-day moving average is $363.33. Broadcom Inc. has a 12-month low of $244.17 and a 12-month high of $495.00. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71. The firm has a market cap of $1.82 trillion, a P/E ratio of 63.68, a price-to-earnings-growth ratio of 0.67 and a beta of 1.41.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $22.13 billion. During the same quarter in the previous year, the firm posted $1.58 earnings per share. The company’s quarterly revenue was up 47.9% compared to the same quarter last year. Sell-side analysts predict that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd will be given 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 payout ratio is 43.33%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $500.00 price objective on shares of Broadcom in a research report on Thursday, June 4th. Erste Group Bank raised shares of Broadcom from a “hold” rating to a “buy” rating in a research report on Friday, June 5th. Morgan Stanley set a $502.00 price objective on shares of Broadcom and gave the stock an “overweight” rating in a research report on Thursday, June 4th. DA Davidson lifted their price objective on shares of Broadcom from $375.00 to $400.00 and gave the stock a “neutral” rating in a research report on Thursday, June 4th. Finally, Truist Financial lifted their price objective on shares of Broadcom from $545.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and a consensus price target of $490.13.

Insider Buying and Selling

In other news, insider S. Ram Velaga sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $370.52, for a total value of $2,964,160.00. Following the sale, the insider owned 57,932 shares of the company’s stock, valued at $21,464,964.64. The trade was a 12.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Charlie B. Kawwas sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $345.23, for a total transaction of $3,452,300.00. Following the completion of the sale, the insider directly owned 787,184 shares in the company, valued at approximately $271,759,532.32. This trade represents a 1.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 324,282 shares of company stock valued at $106,425,249. Corporate insiders own 1.90% of the company’s stock.

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.