Mitchell Capital Management Co. Sells 2,929 Shares of Broadcom Inc. $AVGO

Key Points

• Mitchell Capital Management trimmed its Broadcom stake by 4.2% in the fourth quarter, selling 2,929 shares and leaving it with 66,799 shares valued at about $23.1 million.
• Broadcom reported a strong fiscal Q2, beating estimates with adjusted EPS of $2.44 and revenue of $22.19 billion, while AI semiconductor revenue more than doubled to $10.8 billion.
• The company forecast third-quarter revenue of about $29.4 billion, above Wall Street expectations, though shares still slipped after hours as investors saw the outlook as not aggressive enough.

Mitchell Capital Management Co. lessened its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 66,799 shares of the semiconductor manufacturer's stock after selling 2,929 shares during the period. Broadcom makes up approximately 4.1% of Mitchell Capital Management Co.'s portfolio, making the stock its 5th biggest holding. Mitchell Capital Management Co.'s holdings in Broadcom were worth $23,119,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Miller Global Investments LLC acquired a new position in Broadcom during the fourth quarter worth $31,000. Nvest Wealth Strategies Inc. acquired a new position in Broadcom during the fourth quarter worth $33,000. Family CFO Inc acquired a new position in Broadcom during the fourth quarter worth $35,000. PayPay Securities Corp grew its holdings in Broadcom by 88.9% during the fourth quarter. PayPay Securities Corp now owns 119 shares of the semiconductor manufacturer's stock worth $41,000 after acquiring an additional 56 shares during the period. Finally, Camelot Portfolios LLC acquired a new position in Broadcom during the fourth quarter worth $45,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Key Stories Impacting Broadcom

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

Insider Buying and Selling at Broadcom

In related news, Director Justine Page sold 2,018 shares of the stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $353.00, for a total transaction of $712,354.00. Following the sale, the director owned 18,164 shares of the company's stock, valued at $6,411,892. This trade represents a 10.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gayla J. Delly sold 1,000 shares of the stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $358.31, for a total value of $358,310.00. Following the sale, the director directly owned 32,352 shares in the company, valued at approximately $11,592,045.12. The trade was a 3.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 324,282 shares of company stock valued at $106,425,249. 1.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

AVGO has been the topic of several research reports. JPMorgan Chase & Co. upped their target price on Broadcom from $475.00 to $500.00 and gave the company an "overweight" rating in a report on Thursday, March 5th. Erste Group Bank lowered Broadcom from a "buy" rating to a "hold" rating in a report on Thursday, April 2nd. Evercore reissued an "outperform" rating and issued a $582.00 target price on shares of Broadcom in a report on Tuesday, May 19th. Benchmark reissued a "buy" rating and issued a $485.00 target price on shares of Broadcom in a report on Thursday, March 5th. Finally, Wall Street Zen lowered Broadcom from a "buy" rating to a "hold" rating in a report on Saturday, May 30th. One investment 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's stock. Based on data from MarketBeat, Broadcom presently has an average rating of "Moderate Buy" and a consensus target price of $458.23.

Broadcom Stock Down 0.5%

AVGO opened at $479.23 on Thursday. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.80. The firm has a market cap of $2.27 trillion, a P/E ratio of 93.60, a PEG ratio of 0.99 and a beta of 1.41. Broadcom Inc. has a 52 week low of $241.11 and a 52 week high of $495.00. The business's fifty day simple moving average is $392.87 and its 200 day simple moving average is $361.19.

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

About Broadcom

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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