Midwest Trust 13F: Cuts Broadcom (AVGO) Stake by $13M
Key Points
- Midwest Trust sold 37,041 shares of Broadcom Inc. AVGO during the quarter, bringing its total down to 497,152 shares worth about $174.6 million.
- Broadcom shares recently traded around $323.33, sitting well below their 50-day moving average of $360.54 and 52-week high of $495.00.
- Wall Street maintains a strong buy consensus on the semiconductor maker with a mean price target of $527.59 ahead of its December earnings report.
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Midwest Trust trimmed its investment in Broadcom Inc. AVGO by 37,041 shares, lowering its total stake by 6.9% according to a Form 13F filing on October 22, 2026.
AVGO
Broadcom Inc.
What Changed in Midwest Trust's Broadcom Position
The firm held 497,152 shares of the semiconductor maker at the end of the reported period, down from its prior count of 534,193 shares. The remaining holdings carried a value of about $174.6 million when filed.
Broadcom Inc. Stock Down 3.3%
Broadcom shares recently traded around $323.33, sitting about equal to the closing price of $323.24 on the filing date. The stock rests 10.3% below its 50-day moving average of $360.54 and 34.7% below its 52-week high of $495.00, while staying 11.5% above its 52-week low of $289.96.
Recent Earnings
The company generated $89.1 billion in trailing twelve month revenue with a net margin of 42.9%. Broadcom reported basic earnings of $7.83 per share over the same period alongside a 44.2% return on equity. Its next earnings report is scheduled for December 9, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
14 target raises vs 1 cuts.
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EPS & revenue
EPS met estimates. Revenue missed estimates by 2.3%.
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Profit surprise
EBITDA missed by 14 percent. Operating income missed by 28 percent.
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Pre-earnings setup
Bar was high, analysts already very bullish.
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Analyst signal
1 downgrade, 14 target raises, 1 target cut.
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Earnings quality
Gross margin down 0.7 points. Operating margin up 10.1 points. Positive free cash flow.
Earnings Call Summary
Broadcom reported record quarterly revenue of $22.2 billion, up 48 percent from last year, driven by massive AI chip demand. AI chip sales alone hit $10.8 billion, up 143 percent, with bookings exceeding $30 billion against only $10.8 billion shipped, showing extreme customer demand. The company is executing partnerships with Google, Anthropic, OpenAI, and Meta to build large-scale AI compute clusters, with multiple gigawatt commitments starting to ramp in 2027 and beyond.
Guidance The company expects total sales of about $29.4 billion next quarter, up 84 percent year over year. Within that, AI chip sales should hit $16 billion, up over 200 percent. The company also raised its full-year AI sales target to $56 billion and reiterated guidance for 2027 AI sales to exceed $100 billion. Operating margins will stay stable at 67 percent even as the company grows.
Neutral report. Results and guidance were close to expectations, with limited evidence of a reset either way.
Dividend
Broadcom pays an annual dividend rate of $2.60 per share, giving it a dividend yield of 0.77% based on a payout ratio of 32.4% of earnings.
Insider Buying and Selling at Broadcom Inc.
Company insiders executed several stock sales prior to the filing. Director Justine F. Page sold 1,602 shares on June 29, 2026, at an average price of $373.86 for $598,916. Director Gayla J. Delly sold 1,890 shares on July 8, 2026, at $385.38 per share totaling $728,368. Officer Mark David Brazeal completed two sales, parting with 25,000 shares on July 8 at $379.19 for $9.48 million and another 25,000 shares on July 10 at $401.33 for $10.03 million.
Analysts Set New Price Targets
Wall Street firms updated their views on the chipmaker in recent months. Macquarie upgraded the stock to an outperform rating with a $490.00 target on September 3, 2026. Citigroup maintained a buy rating while lifting its target to $515.00 on September 4, and DA Davidson kept a neutral rating while lowering its target to $350.00 that same day. Piper Sandler initiated coverage with an overweight rating and a $460.00 target on September 10, followed by Tigress Financial initiating a buy rating and a $600.00 target on October 22. Analysts hold a consensus strong buy rating with 47 opinions on the stock and a mean target of $527.59.
About Broadcom
Broadcom Inc. designs and supplies a wide range of semiconductor devices and infrastructure software applications used in networking, broadband, and enterprise storage. The company operates through two major segments covering custom silicon solutions and software platforms. Its chips and software power data centers and telecom networks globally.
Bottom Line
Investors will look toward Broadcom's next earnings report on December 9, 2026, for updates on profit margins and chip demand. Additional SEC filings will show whether other major institutions adjusted their positions alongside Midwest Trust.
Related Filing Alerts
Source: Midwest Trust's 13F filing on $AVGO (Oct 22, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Written by software, not financial advice. How we make alerts