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PRIMECAP Management Co, managed by Theofanis Kolokotrones, recently executed a significant transaction involving Broadcom Inc. ((AVGO)). The hedge fund reduced its position by 27,980 shares.
Recent Updates on Broadcom Inc. stock
Broadcom (AVGO) has been volatile, recently falling about 8–9% over the past week and month after earlier modest gains, yet it still sports a roughly 55–60% gain over 12 months. Despite the pullback, Wall Street maintains a StrongBuy rating, with average 12‑month targets near $460 versus current prices around $320–$331, implying sizable upside.
Analysts highlight Broadcom’s leading role in AI custom chips and networking, especially its deep TPU partnership with Google, where millions of 3nm TPU units are expected by 2027–2028. Top‑ranked analysts Chris Caso (Wolfe Research) and Harlan Sur (J.P. Morgan) recently reiterated or upgraded to Buy with $400–$475 targets, citing powerful AI-driven revenue and EPS growth over 2026–2027.
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: 31,903,589
Current Market Cap: $1614.1B