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Alecta Pensionsforsakring, Omsesidigt, managed by Magnus Billing, recently executed a significant transaction involving Broadcom Inc. ((AVGO)). The hedge fund reduced its position by 1,038,000 shares.
Recent Updates on Broadcom Inc. stock
Recent developments for Broadcom Inc. (AVGO) include the launch of new products focusing on data encryption and Fibre Channel technology, such as the Emulex Secure Fibre Channel Host Bus Adapters and the Brocade G710 24-port 64G switch. Despite these innovations, Morgan Stanley lowered its price target for Broadcom from $265 to $246 due to concerns about AI developments, while Barclays raised its target to $260, maintaining a positive outlook on Broadcom’s AI and semiconductor prospects. Significant bullish options activity suggests market optimism ahead of Broadcom’s earnings expected on March 6th. Recent hedge fund activities show varied positions on Broadcom stock, with some funds increasing and others reducing their holdings. The company’s year-to-date price performance is reported 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
