The Insider & Smart-Money Digest: open-market buys, the sales that tripped a filter, cluster activity and the week's flow, from the filings.
Also: Insiders · the rotation map · Earnings notes · Data notes
Broadcom grew revenue 85.50% year over year to $29.59B in its latest quarter and expanded operating margin 1,736 basis points to 54.27%. The stock trades 43.94% below the one published fair value that has followed it longest (Morningstar, $650.00) and 48.26% above another (Altamira's in-house DCF, $
Applied Materials beat on both lines for the ninth straight graded quarter — adjusted EPS of 4.16 against a 4.06 estimate, revenue of $10.41B against a $10.30B bar. Underneath, free cash flow was flat in dollars year over year even as revenue grew 53.07%, and the free-cash-flow margin fell 1,042 bas
One day after falling out of Tier 2, ResMed (69.5 to 71.8, QC a perfect 13 of 13) and DexCom (69.9 to 70.2, gate dissenting at 8 of 13, no margin of safety) are back in it, Williams-Sonoma joins them, Tier 2 widens 22 to 25 — and Arista climbs to 77.0, first overall, still below its $230 fair value.
Two days after a $7.9B authorization wave, the 12 November buyback tape printed a single $1.0M addition (Trio-Tech) and insider buys printed zero for a third straight day — while Costco's $30 special dividend stood as the week's real capital-return event.
Revenue $18,085M, +4.35% vs estimate and +5.25% YoY on the filed September quarter · non-GAAP EPS $2.49 vs $2.09 (+19.14%) · Keytruda family $8.6B (+6%) with QLEX at $830M — and the close was +3.83% to $146.33 Merck & Co., Inc. (MRK, NYSE)
NVIDIA has grown revenue at a 66.90% compound rate since FY2021 and expanded operating margin by 3,320 basis points. The stock closed at a 52-week low today, 46.82% below the one published fair value that has followed it the longest. This note reads the record and the tape side by side.
Intuitive Surgical beat on both lines for an eighth straight quarter and grew revenue 21.70% — then posted an operating margin of 19.44%, down 1,417 basis points from the quarter before. The stock fell 2.26% on the print, a third of its usual move, and has since recovered all of it and more.
Meta Platforms beat on both lines on October 21 — EPS 7.40 vs 6.54 expected (+13.15%), revenue $64.60B (+1.99% vs estimate, +26.07% YoY) — then posted a 20.10% operating margin, down 1,997 basis points year over year, and its first negative free cash flow quarter in this nine-quarter series, -$1,156
Revenue $9,807M, +1.50% vs estimate and +14.01% YoY · EPS $5.31 vs $5.17 (+2.71%) · value-added services +19% vs payment network +11% and cross-border volume +11% — and the close was +4.16% to $635.70 Mastercard Incorporated (MA, NYSE) · Q3 2026 (quarter ended Sep
Twelve buyback authorizations dated 9-10 November carried $4.37B in stated size, led by EPAM's $1.8B accelerated repurchase — while the insider tape printed zero new open-market purchases, one $12.96M notable sale at Arista, and a TSMC cluster still forming.
Authorizations disclosed around 10 November total roughly $7.9B — Costco's $4B reauthorization and Steel Dynamics' additional $3.0B lead — while the insider digest printed zero new open-market purchases for a second straight day, a $26.59M Arista sale, and TSMC's cluster still forming at two buyers.
All 515 scored companies run the same gauntlet: 31 metrics in six fundamental pillars — Quality 25%, Growth 20%, Value 20%, Shareholder Returns 15%, Health 10%, Moat 10% — blended 70/30 with a technical pillar into one total, four hard tiers, and a 13-criterion QC gate that is allowed to disagree.
Money Flows
Top signal: notable sale: MSFT $3.44M (C-suite sale of $3.44M across 2 tranches).
Money Flows
Top signal: notable sale: ANET $28.63M (C-suite sale of $28.63M across 3 tranches).
Money Flows
Top signal: notable sale: ANET $100.75M (C-suite sale of $100.75M across 6 tranches).