E&G Advisors LP Reduces Holdings in Broadcom Inc. $AVGO

E&G Advisors LP lowered its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.3% during the second quarter, HoldingsChannel reports. The firm owned 11,865 shares of the semiconductor manufacturer’s stock after selling 400 shares during the period. Broadcom accounts for approximately 0.8% of E&G Advisors LP’s holdings, making the stock its 23rd largest holding. E&G Advisors LP’s holdings in Broadcom were worth $3,271,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Broadcom by 0.4% during the first quarter. Vanguard Group Inc. now owns 477,220,137 shares of the semiconductor manufacturer’s stock valued at $79,900,968,000 after purchasing an additional 2,085,534 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Broadcom by 37.8% in 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 during the last quarter. Nuveen LLC bought a new stake in shares of Broadcom in the first quarter worth $6,649,117,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Broadcom by 2.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 35,243,467 shares of the semiconductor manufacturer’s stock worth $5,900,814,000 after buying an additional 842,088 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Broadcom by 3.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 33,852,310 shares of the semiconductor manufacturer’s stock worth $5,668,134,000 after buying an additional 1,043,948 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AVGO. The Goldman Sachs Group restated a “buy” rating and issued a $340.00 price target on shares of Broadcom in a research note on Wednesday, August 13th. Oppenheimer restated an “outperform” rating and issued a $360.00 price target (up previously from $325.00) on shares of Broadcom in a research note on Friday, September 5th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Broadcom from $300.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, September 5th. Barclays lifted their price target on shares of Broadcom from $265.00 to $400.00 and gave the stock an “overweight” rating in a research note on Friday, September 5th. Finally, Susquehanna lifted their price target on shares of Broadcom from $280.00 to $300.00 and gave the stock a “positive” rating in a research note on Friday, June 6th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Broadcom currently has an average rating of “Buy” and a consensus price target of $356.48.

Insider Activity at Broadcom

In other news, CEO Hock E. Tan sold 148,154 shares of the business’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $336.67, for a total transaction of $49,879,007.18. Following the completion of the transaction, the chief executive officer owned 825,998 shares of the company’s stock, valued at approximately $278,088,746.66. The trade was a 15.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Charlie B. Kawwas sold 3,893 shares of the business’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $347.82, for a total transaction of $1,354,063.26. Following the transaction, the insider directly owned 25,295 shares of the company’s stock, valued at approximately $8,798,106.90. This trade represents a 13.34% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 3,550 shares of company stock valued at $1,227,869 and have sold 197,274 shares valued at $67,044,814. 2.00% of the stock is owned by insiders.

Broadcom Stock Performance

Broadcom stock opened at $339.31 on Thursday. The company has a market cap of $1.60 trillion, a PE ratio of 86.56, a P/E/G ratio of 1.87 and a beta of 1.16. The company has a fifty day moving average price of $311.64 and a two-hundred day moving average price of $250.44. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37. Broadcom Inc. has a 12 month low of $138.10 and a 12 month high of $374.23.

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

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd will be issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Broadcom’s payout ratio is 60.20%.

About Broadcom

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.