Broadcom Inc. $AVGO Holdings Lessened by Parr Mcknight Wealth Management Group LLC

Key Points

• Parr Mcknight Wealth Management Group LLC trimmed its Broadcom stake by 3.9% in the fourth quarter, selling 1,603 shares and ending with 39,270 shares valued at about $13.59 million.
• Broadcom’s latest earnings beat expectations, with adjusted EPS of $2.44 on revenue of $22.19 billion, while AI semiconductor revenue more than doubled to $10.8 billion.
• Management’s outlook stayed upbeat, guiding third-quarter revenue to roughly $29.4 billion above consensus, even as shares slipped after hours because investors wanted an even stronger AI forecast.

Parr Mcknight Wealth Management Group LLC decreased its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,270 shares of the semiconductor manufacturer's stock after selling 1,603 shares during the quarter. Broadcom accounts for about 1.8% of Parr Mcknight Wealth Management Group LLC's investment portfolio, making the stock its 7th largest position. Parr Mcknight Wealth Management Group LLC's holdings in Broadcom were worth $13,591,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC lifted its holdings in Broadcom by 21.8% during the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock valued at $6,882,000 after purchasing an additional 5,322 shares in the last quarter. Revolve Wealth Partners LLC lifted its holdings in Broadcom by 10.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock valued at $1,854,000 after purchasing an additional 756 shares in the last quarter. United Bank lifted its holdings in Broadcom by 76.5% during the first quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer's stock valued at $392,000 after purchasing an additional 1,014 shares in the last quarter. Sivia Capital Partners LLC lifted its holdings in Broadcom by 10.1% during the second quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer's stock valued at $3,499,000 after purchasing an additional 1,160 shares in the last quarter. Finally, Capital & Planning LLC lifted its holdings in Broadcom by 10.5% during the second quarter. Capital & Planning LLC now owns 3,983 shares of the semiconductor manufacturer's stock valued at $1,098,000 after purchasing an additional 378 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Susquehanna reaffirmed a "positive" rating and set a $490.00 price target (up from $450.00) on shares of Broadcom in a report on Thursday, May 28th. Citigroup reaffirmed a "buy" rating and set a $500.00 price target (up from $475.00) on shares of Broadcom in a report on Tuesday, May 12th. Royal Bank Of Canada lowered their price target on shares of Broadcom from $370.00 to $340.00 and set a "sector perform" rating on the stock in a report on Monday, March 2nd. Zacks Research downgraded shares of Broadcom from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 21st. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $500.00 price target on shares of Broadcom in a report on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $458.23.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom beat fiscal Q2 expectations, reporting adjusted EPS of $2.44 versus the $2.40 consensus and revenue of $22.19 billion versus $22.13 billion expected. Broadcom Inc. Announces Second Quarter Fiscal Year 2026 Financial Results and Quarterly Dividend
• Positive Sentiment: AI semiconductor revenue more than doubled to $10.8 billion, showing Broadcom is benefiting from surging demand for custom AI accelerators and AI networking. Broadcom Revenue Climbs on AI Chip Demand
• Positive Sentiment: The company guided third-quarter revenue to about $29.4 billion, above the consensus estimate of roughly $28.3 billion, suggesting continued momentum in the AI build-out. Broadcom Inc. Announces Second Quarter Fiscal Year 2026 Financial Results and Quarterly Dividend
• Neutral Sentiment: Broadcom also announced its quarterly dividend of $0.65 per share, which supports the stock’s income appeal but is not likely the main driver of today’s move. Broadcom Inc. Announces Second Quarter Fiscal Year 2026 Financial Results and Quarterly Dividend
• Negative Sentiment: Despite strong AI growth, shares fell in after-hours trading because the outlook for AI semiconductor revenue and near-term expectations did not fully meet the market’s lofty bar after a big run-up in the stock. Broadcom revenue hits record on AI chip surge but outlook disappoints

Broadcom Price Performance

AVGO stock opened at $479.23 on Thursday. Broadcom Inc. has a one year low of $241.11 and a one year high of $495.00. The company's fifty day moving average price is $392.87 and its 200-day moving average price is $361.19. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.73 and a current ratio of 1.90. The company has a market capitalization of $2.27 trillion, a PE ratio of 93.60, a price-to-earnings-growth ratio of 0.99 and a beta of 1.41.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, topping the consensus estimate of $2.40 by $0.04. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The firm had revenue of $22.19 billion for the quarter, compared to the consensus estimate of $22.13 billion. During the same quarter in the previous year, the firm earned $1.58 earnings per share. The company's quarterly revenue was up 47.9% compared to the same quarter last year. On average, equities analysts anticipate that Broadcom Inc. will post 9.91 EPS for the current fiscal year.

Insider Activity at Broadcom

In other news, insider S. Ram Velaga sold 38,841 shares of the business's stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total value of $12,491,265.60. Following the transaction, the insider owned 96,147 shares of the company's stock, valued at approximately $30,920,875.20. The trade was a 28.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 50,488 shares of the business's stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total transaction of $16,236,940.80. Following the completion of the transaction, the insider directly owned 278,141 shares in the company, valued at $89,450,145.60. This trade represents a 15.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 324,282 shares of company stock worth $106,425,249 over the last ninety days. 1.90% of the stock is owned by corporate insiders.

Broadcom 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.

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