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Intermede Investment Partners Ltd, managed by Barry Dargan, recently executed a significant transaction involving Broadcom Inc. ((AVGO)). The hedge fund reduced its position by 638,188 shares.
Recent Updates on Broadcom Inc. stock
Recent developments for Broadcom Inc. (AVGO) include the launch of the Emulex Secure Fibre Channel Host Bus Adapters, aimed at enhancing data encryption to combat ransomware and comply with government regulations. The company also introduced the Brocade G710 24-port 64G switch, boasting low energy consumption and latency. Despite these innovations, Morgan Stanley lowered Broadcom’s price target from $265 to $246, reflecting concerns about the broader market impact of DeepSeek’s AI-related developments. In contrast, Barclays raised its target to $260, emphasizing Broadcom’s strength in AI technology. Additionally, bullish options activity was noted with a significant increase in call trading and implied volatility.
More about Broadcom Inc.
YTD Price Performance: 1.32%
Average Trading Volume: 33,005,566
Current Market Cap: $1101.7B