Bristol Gate Capital Partners Inc. Sells 81,290 Shares of Broadcom Inc. $AVGO

Bristol Gate Capital Partners Inc. reduced its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 19.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 333,429 shares of the semiconductor manufacturer’s stock after selling 81,290 shares during the quarter. Broadcom accounts for 5.2% of Bristol Gate Capital Partners Inc.’s portfolio, making the stock its 2nd largest position. Bristol Gate Capital Partners Inc.’s holdings in Broadcom were worth $91,910,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Broadcom during the 2nd quarter worth about $18,579,549,000. Nuveen LLC bought a new stake in Broadcom during the first quarter worth about $6,649,117,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Broadcom by 37.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer’s stock worth $10,968,270,000 after buying an additional 17,985,046 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Broadcom by 1.3% in the second quarter. Vanguard Group Inc. now owns 483,442,939 shares of the semiconductor manufacturer’s stock valued at $133,261,046,000 after acquiring an additional 6,222,802 shares during the last quarter. Finally, Edgewood Management LLC acquired a new position in shares of Broadcom in the 2nd quarter worth approximately $1,571,438,000. 76.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on AVGO shares. Sanford C. Bernstein raised their price target on Broadcom from $295.00 to $400.00 and gave the company an “outperform” rating in a report on Friday, September 5th. Benchmark raised their target price on Broadcom from $315.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, September 5th. Mizuho set a $435.00 price target on Broadcom and gave the company an “outperform” rating in a report on Tuesday, October 21st. Barclays set a $450.00 price target on shares of Broadcom and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Broadcom from $325.00 to $400.00 and gave the company an “overweight” rating in a research report on Friday, September 5th. Three analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Broadcom presently has a consensus rating of “Buy” and a consensus price target of $377.61.

Broadcom Stock Performance

Shares of NASDAQ:AVGO opened at $402.89 on Friday. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. Broadcom Inc. has a 1-year low of $138.10 and a 1-year high of $403.00. The stock has a market capitalization of $1.90 trillion, a P/E ratio of 102.78, a P/E/G ratio of 1.37 and a beta of 1.19. The business has a 50-day moving average price of $352.16 and a two-hundred day moving average price of $306.78.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.03. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The company had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. During the same quarter last year, the firm earned $1.24 EPS. The company’s revenue for the quarter was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. Equities analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were given a dividend of $0.59 per share. The ex-dividend date was Monday, September 22nd. This represents a $2.36 annualized dividend and a dividend yield of 0.6%. Broadcom’s payout ratio is presently 60.20%.

Insider Buying and Selling

In other news, CFO Kirsten M. Spears sold 7,498 shares of the firm’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $347.66, for a total value of $2,606,754.68. Following the transaction, the chief financial officer directly owned 313,330 shares in the company, valued at $108,932,307.80. This trade represents a 2.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mark David Brazeal sold 16,558 shares of Broadcom stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total value of $5,755,726.38. Following the sale, the insider directly owned 329,302 shares of the company’s stock, valued at approximately $114,468,668.22. This trade represents a 4.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have acquired 3,550 shares of company stock worth $1,227,869 and have sold 665,271 shares worth $225,483,192. Company insiders own 2.00% of the company’s stock.

Broadcom Company Profile

Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.