MIG Capital Trims Broadcom Inc. Stake by 18,461 Shares

MIG Capital, Llc, managed by Richard Merage, recently executed a significant transaction involving Broadcom Inc. ((AVGO)). The hedge fund reduced its position by 18,461 shares.

Recent Updates on Broadcom Inc. stock

Broadcom (AVGO) shares have been volatile, recently falling as much as 9% in a week and 8% over a month after prior gains, but they remain roughly 50%–60% higher over the past year. Despite the pullbacks, Wall Street maintains a StrongBuy view, with average 12‑month targets around $458–$460 versus current prices near $320–$342, implying notable upside.

Bullish analysts highlight Broadcom’s key role in AI custom chips and networking, especially its TPU partnership with Google, where forecasts call for millions of TPU shipments and tens of billions in AI ASIC revenue by 2027–2028. Some, like Wolfe’s Chris Caso and J.P. Morgan’s Harlan Sur, see EPS reaching $16–$18 by 2027 and justify targets of $400–$475, though D.A. Davidson’s Gil Luria takes a more cautious Hold stance, warning that hyperscalers may internalize more AI hardware and pressure margins.

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: -5.95%

Average Trading Volume: 30,496,869

Current Market Cap: $1543.2B