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Morningstar Investment Management LLC, managed by Sara Kasun-Fretz, recently executed a significant transaction involving Broadcom Inc. ((AVGO)). The hedge fund reduced its position by 10,528 shares.
Recent Updates on Broadcom Inc. stock
Broadcom (AVGO) shares have been volatile, recently falling 8–9% over the past week and month after earlier weekly gains, but they still sport roughly 51–60% gains over the past year. Despite the pullback, Wall Street maintains a Strong Buy rating, with average 12‑month targets around $458–$460 versus recent prices near $320–$331, implying substantial upside.
Analysts see Broadcom as a prime beneficiary of the AI and data‑center boom, led by its custom AI ASICs and networking tied to Google’s TPUs. Wolfe Research’s Chris Caso upgraded AVGO to Buy with a $400 target, while J.P. Morgan’s Harlan Sur reiterated Buy with a $475 target, both citing multi‑billion‑dollar TPU orders and aggressive AI revenue and EPS growth through 2027.
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: -0.62%
Average Trading Volume: 31,327,033
Current Market Cap: $1578.5B