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

Parr Mcknight Wealth Management Group LLC decreased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 39,270 shares of the semiconductor manufacturer’s stock after selling 1,603 shares during the period. Broadcom accounts for about 1.8% of Parr Mcknight Wealth Management Group LLC’s portfolio, making the stock its 7th largest position. Parr Mcknight Wealth Management Group LLC’s holdings in Broadcom were worth $13,591,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Miller Global Investments LLC purchased a new stake in Broadcom during the fourth quarter valued at $31,000. Nvest Wealth Strategies Inc. purchased a new stake in Broadcom during the fourth quarter valued at $33,000. Family CFO Inc purchased a new stake in Broadcom during the fourth quarter valued at $35,000. PayPay Securities Corp raised its stake in Broadcom by 88.9% during the fourth quarter. PayPay Securities Corp now owns 119 shares of the semiconductor manufacturer’s stock valued at $41,000 after purchasing an additional 56 shares in the last quarter. Finally, Cherry Tree Wealth Management LLC raised its stake in Broadcom by 44.9% during 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 in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

More Broadcom News

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 Trading Down 0.5%

AVGO stock 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. Broadcom Inc. has a twelve month low of $241.11 and a twelve month high of $495.00. The stock has a market capitalization of $2.27 trillion, a price-to-earnings ratio of 93.60, a price-to-earnings-growth ratio of 0.99 and a beta of 1.41. The firm’s fifty day simple moving average is $392.87 and its two-hundred day simple moving average is $361.19.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, topping analysts’ consensus estimates of $2.40 by $0.04. The firm had revenue of $22.19 billion for the quarter, compared to analysts’ expectations of $22.13 billion. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The business’s revenue for the quarter was up 47.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.58 earnings per share. As a group, analysts anticipate that Broadcom Inc. will post 9.91 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on AVGO shares. Wells Fargo & Company reiterated an “overweight” rating and set a $545.00 price objective (up from $430.00) on shares of Broadcom in a research report on Thursday, May 14th. Wall Street Zen cut shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Saturday, May 30th. Rosenblatt Securities reiterated a “buy” rating and set a $500.00 price objective on shares of Broadcom in a research report on Tuesday, April 7th. Susquehanna reiterated a “positive” rating and set a $490.00 price objective (up from $450.00) on shares of Broadcom in a research report on Thursday, May 28th. Finally, Jefferies Financial Group set a $550.00 price objective on shares of Broadcom and gave the company a “buy” rating in a research report on Thursday. One 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $458.23.

Insider Activity at Broadcom

In other news, insider S. Ram Velaga sold 38,841 shares of the company’s stock in a transaction dated 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 directly owned 96,147 shares in the company, valued at approximately $30,920,875.20. This represents a 28.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Charlie B. Kawwas sold 39,116 shares of the company’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $321.61, for a total transaction of $12,580,096.76. Following the completion of the transaction, the insider owned 74,626 shares in the company, valued at approximately $24,000,467.86. The trade was a 34.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 324,282 shares of company stock valued at $106,425,249. Company insiders own 1.90% of the company’s stock.

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.