Engineers Gate Manager LP Has $1.07 Million Stock Holdings in Broadcom Inc. $AVGO

Key Points

• Engineers Gate Manager LP cut its Broadcom stake by 89.7% in the second quarter, selling 24,496 shares and retaining 2,822 shares worth approximately $1.07 million. Institutional investors and hedge funds collectively own 76.43% of Broadcom.
• Broadcom exceeded quarterly expectations, reporting $3.32 in EPS and $29.59 billion in revenue, with revenue up 85.5% year over year. The company also declared a quarterly dividend of $0.65 per share.
• Analysts remain broadly bullish, giving Broadcom a “Moderate Buy” consensus rating and an average price target of $509.04, compared with a recent share price of $357.67.

Engineers Gate Manager LP reduced its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 89.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,822 shares of the semiconductor manufacturer's stock after selling 24,496 shares during the period. Engineers Gate Manager LP's holdings in Broadcom were worth $1,066,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of AVGO. Networth Advisors LLC raised its holdings in Broadcom by 546.2% in the 1st quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer's stock valued at $26,000 after acquiring an additional 71 shares during the period. Harborfront Financial Group LLC bought a new stake in shares of Broadcom during the second quarter worth approximately $38,000. Cherry Tree Wealth Management LLC grew its position in shares of Broadcom by 44.9% in the fourth quarter. Cherry Tree Wealth Management LLC now owns 129 shares of the semiconductor manufacturer's stock valued at $45,000 after purchasing an additional 40 shares during the last quarter. Godfrey Financial Associates Inc. acquired a new position in shares of Broadcom in the fourth quarter valued at approximately $56,000. Finally, IMG Wealth Management Inc. bought a new position in shares of Broadcom during the second quarter worth approximately $64,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $357.67 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.29 and a current ratio of 2.50. Broadcom Inc. has a 52 week low of $289.96 and a 52 week high of $495.00. The firm has a market cap of $1.71 trillion, a PE ratio of 45.68 and a beta of 1.44. The firm's fifty day moving average is $378.91 and its 200-day moving average is $379.01.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $0.10. The business had revenue of $29.59 billion during the quarter, compared to analyst estimates of $29.24 billion. Broadcom had a return on equity of 48.33% and a net margin of 42.94%.Broadcom's revenue for the quarter was up 85.5% compared to the same quarter last year. During the same period last year, the company earned $1.69 EPS. Sell-side analysts predict that Broadcom Inc. will post 10.36 earnings per share for the current year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Monday, September 21st will be issued a $0.65 dividend. The ex-dividend date is Monday, September 21st. This represents a $2.60 annualized dividend and a yield of 0.7%. Broadcom's dividend payout ratio is presently 33.21%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on AVGO shares. Cantor Fitzgerald lifted their price target on Broadcom from $525.00 to $600.00 and gave the stock an "overweight" rating in a report on Thursday, September 3rd. Evercore set a $578.00 price objective on Broadcom in a report on Thursday, September 3rd. KeyCorp reiterated an "overweight" rating and set a $575.00 price objective on shares of Broadcom in a research report on Thursday, September 3rd. Citigroup reissued a "buy" rating and set a $515.00 target price (up from $500.00) on shares of Broadcom in a report on Friday, September 4th. Finally, Benchmark boosted their target price on shares of Broadcom from $485.00 to $545.00 and gave the company a "buy" rating in a research report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $509.04.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s custom-chip business is the central bullish catalyst. Management projects AI semiconductor revenue of approximately $115 billion in fiscal 2027 and $230 billion in fiscal 2028, as hyperscalers seek alternatives to standard GPUs to improve computing costs and efficiency. The AI Boom Isn’t Over: 3 Stocks You Need to Watch
• Positive Sentiment: Commentators including Jim Cramer view AVGO as potentially “too cheap to ignore” following a decline of roughly 30% from its yearly peak. The argument is that strong AI growth, repeated earnings beats, and a lower share price create an attractive risk-reward setup for long-term investors. Jim Cramer on Broadcom
• Positive Sentiment: Broadcom’s CEO Hock Tan reportedly expressed strong confidence despite recent AI-related market fears. The company also benefits from continued semiconductor-sector strength and expectations that AI infrastructure investment will remain elevated. Broadcom CEO Hock Tan says he isn’t worried
• Neutral Sentiment: Investor attention is unusually high, with multiple reports highlighting AVGO as one of the most-watched stocks. These articles largely recap existing earnings and valuation themes rather than announce a new company-specific development. Broadcom is Attracting Investor Attention
• Negative Sentiment: Risks include hyperscalers developing their own AI accelerators, which could reduce reliance on outside suppliers. Meta, for example, could save billions by using internally designed chips. Broadcom’s VMware and enterprise-software growth story also has mixed industry evidence, making the AI forecast the more important driver for the stock. Meta Can Save $8.5 Billion by Using Its Own Chips

Insider Activity at Broadcom

In other Broadcom news, Director Justine Page sold 1,602 shares of the stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $373.86, for a total transaction of $598,923.72. Following the completion of the sale, the director owned 17,426 shares of the company's stock, valued at approximately $6,514,884.36. This represents a 8.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mark Brazeal sold 25,000 shares of the firm's stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $401.33, for a total transaction of $10,033,250.00. Following the transaction, the insider owned 194,989 shares of the company's stock, valued at approximately $78,254,935.37. The trade was a 11.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 53,492 shares of company stock worth $20,840,292 over the last ninety days. Insiders own 1.90% of the company's stock.

Broadcom Company Profile

Broadcom Inc NASDAQ: AVGO designs, develops and supplies semiconductor and infrastructure software products for businesses, telecommunications providers and other organizations worldwide. Its semiconductor portfolio includes networking and connectivity components, custom application-specific integrated circuits, broadband and wireless communications products, storage adapters, optical components, and industrial solutions.

The company also provides enterprise infrastructure software through businesses including VMware, which offers virtualization and private- and hybrid-cloud solutions; mainframe and enterprise software; and cybersecurity products.

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