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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 7,245 shares.
Recent Updates on Broadcom Inc. stock
Recent developments for Broadcom Inc. (AVGO) include the launch of new products like the Emulex Secure Fibre Channel Host Bus Adapters and the Brocade G710 24-port 64G switch, highlighting the company’s focus on data encryption and Fibre Channel technology. Despite these innovations, Morgan Stanley lowered its price target for Broadcom from $265 to $246 due to concerns about AI developments such as DeepSeek, whereas Barclays increased its target to $260, reflecting optimism about Broadcom’s prospects in AI and semiconductor technology. Significant bullish options activity was reported, suggesting market optimism ahead of Broadcom’s earnings expected on March 6th. The company’s year-to-date price performance is reported to be between 1.32% and 1.65%, with a current market cap ranging from approximately $1101.7 billion to $1107.9 billion.
More about Broadcom Inc.
YTD Price Performance: 0.46%
Average Trading Volume: 32,928,909
Current Market Cap: $1092.3B
