Elevation Point Wealth Partners LLC Has $51.34 Million Position in Broadcom Inc. $AVGO

Elevation Point Wealth Partners LLC increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 110.1% during the first quarter, HoldingsChannel reports. The fund owned 165,864 shares of the semiconductor manufacturer’s stock after buying an additional 86,930 shares during the period. Broadcom comprises about 1.2% of Elevation Point Wealth Partners LLC’s investment portfolio, making the stock its 10th largest position. Elevation Point Wealth Partners LLC’s holdings in Broadcom were worth $51,337,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. ROSS JOHNSON & Associates LLC raised its stake in shares of Broadcom by 1,320.0% in the 4th quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 66 shares during the period. SWAN Capital LLC boosted its position in shares of 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 period. Networth Advisors LLC boosted its position in shares of Broadcom by 546.2% during the first quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer’s stock worth $26,000 after buying an additional 71 shares during the period. Miller Global Investments LLC bought a new position in shares of Broadcom during the fourth quarter worth about $31,000. Finally, Nvest Wealth Strategies Inc. bought a new position in shares of Broadcom during the fourth quarter worth about $33,000. 76.43% of the stock is owned by institutional investors.

Insider Activity at Broadcom

In other Broadcom news, Director Harry L. You purchased 1,000 shares of the stock in a transaction on Thursday, June 11th. The shares were purchased at an average price of $373.57 per share, with a total value of $373,570.00. Following the completion of the transaction, the director directly owned 38,466 shares in the company, valued at $14,369,743.62. This represents a 2.67% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 4,825 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $394.91, for a total value of $1,905,440.75. Following the completion of the sale, the insider owned 269,989 shares in the company, valued at $106,621,355.99. This represents a 1.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 60,987 shares of company stock worth $21,899,980 over the last ninety days. Company insiders own 1.90% of the company’s stock.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom said it expanded its partnership with Apple through 2031 to develop and supply custom chips, including custom ASIC silicon. That signals durable revenue visibility and reinforces Broadcom’s role in Apple’s AI and edge-computing roadmap. Reuters: Broadcom, Apple extend chip partnership through 2031
• Positive Sentiment: Several market reports said AVGO rose after the Apple agreement, helping boost the broader semiconductor complex and signaling that investors view the deal as a meaningful near-term catalyst. Yahoo Finance: Allegro MicroSystems and Penguin Solutions Shares Skyrocket
• Positive Sentiment: Analysts and commentary continue to frame Broadcom as a core AI infrastructure name, with some arguing its custom AI silicon and networking exposure justify a premium valuation and support higher earnings estimates. Seeking Alpha: Broadcom’s AI Infrastructure Model Justifies Its Premium Valuation
• Neutral Sentiment: Broader sector momentum is helping AVGO, as chip and memory stocks have rallied on improving sentiment across the AI trade and upbeat Wall Street notes.
• Neutral Sentiment: Some articles highlighted that Broadcom has fallen over the past month and that near-term guidance has disappointed, which may temper enthusiasm despite the Apple and AI positives. Zacks: Broadcom Drops 9% in a Month: Buy, Sell or Hold the AVGO Stock?
• Negative Sentiment: One bearish overhang is concern that Broadcom’s largest AI customer may shift business to MediaTek, raising questions about how concentrated or defensible some of AVGO’s AI custom-chip revenue could be. MSN: Broadcom’s largest AI customer is fleeing to MediaTek

Broadcom Trading Up 3.7%

NASDAQ AVGO opened at $373.90 on Tuesday. Broadcom Inc. has a 12 month low of $269.58 and a 12 month high of $495.00. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. The stock has a 50 day moving average of $407.92 and a 200-day moving average of $362.49. The company has a market cap of $1.78 trillion, a PE ratio of 62.32, a PEG ratio of 0.63 and a beta of 1.45.

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

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were paid a dividend of $0.65 per share. The ex-dividend date was Monday, June 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. Broadcom’s payout ratio is currently 43.33%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Erste Group Bank upgraded Broadcom from a “hold” rating to a “buy” rating in a research note on Friday, June 5th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $515.00 price objective (up from $430.00) on shares of Broadcom in a report on Thursday, June 4th. DA Davidson increased their target price on shares of Broadcom from $375.00 to $400.00 and gave the stock a “neutral” rating in a report on Thursday, June 4th. KeyCorp restated an “overweight” rating and set a $575.00 target price (up from $500.00) 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 company an “overweight” rating in a research note on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $493.24.

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.