Bristol Gate Capital Partners Cuts Broadcom Stake Significantly

Bristol Gate Capital Partners Inc., managed by Richard Hamm, recently executed a significant transaction involving Broadcom Inc. ((AVGO)). The hedge fund reduced its position by 79,098 shares.

Recent Updates on Broadcom Inc. stock

Broadcom (AVGO) shares have been volatile in recent weeks, with moves ranging from a 3% weekly gain to a 9% weekly drop and about an 8–9% decline over the past month, yet the stock still stands roughly 50–60% higher over the last 12 months. Despite the pullback, Wall Street remains strongly bullish, assigning a Strong Buy consensus with an average 12‑month price target around $458–$460 versus recent closes near $320–$331, implying substantial upside. Recent analyst actions underscore this confidence: Wolfe Research’s Chris Caso upgraded AVGO to Buy with a $400 target, and J.P. Morgan’s Harlan Sur reiterated a Buy with a $475 target. Both highlight Broadcom’s leading role in AI-focused custom chips and networking, particularly its deep partnership with Google on Tensor Processing Units (TPUs), where Broadcom is expected to power most of Google’s multiyear TPU rollout. Their models call for sharply rising AI ASIC and networking revenues into 2026–2028 and project EPS climbing toward $16–$18 by 2027, supporting the view that the current weakness is a pause within a longer-term AI-driven growth trend.

Spark’s Take on AVGO Stock

According to Spark, TipRanks’ AI Analyst, AVGO is a Outperform.

Score is driven primarily by strong financial performance (high margins and cash conversion) and upbeat earnings-call outlook led by accelerating AI growth and a large backlog. Offsetting the rating are a stretched valuation (high P/E with low yield) and a mixed/soft technical picture with negative MACD and the stock below its 50-day average.

To see Spark’s full report on AVGO stock, click here.

More about Broadcom Inc.

YTD Price Performance: -3.81%

Average Trading Volume: 31,102,737

Current Market Cap: $1472.2B