First Pacific Advisors trims Broadcom stake under Richard Atwood

First Pacific Advisors LLC, managed by Richard Atwood, recently executed a significant transaction involving Broadcom Inc. ((AVGO)). The hedge fund reduced its position by 28,608 shares.

Recent Updates on Broadcom Inc. stock

Broadcom (AVGO) shares have been volatile, recently falling 8–9% over a month after earlier gains, but they remain up roughly 50–60% over the past year, with Wall Street maintaining a StrongBuy rating and average targets around $458–$460 versus ~$320–$343. Bulls, including top-ranked analysts Chris Caso and Harlan Sur, highlight Broadcom’s dominant AI ASIC and networking role, especially its Google TPU partnership, while Gil Luria flags risk that hyperscalers internalize more AI hardware, pressuring ASIC margins and valuation multiples.

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: -3.92%

Average Trading Volume: 31,751,491

Current Market Cap: $1576.7B