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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 around Broadcom Inc. (AVGO) include the announcement of the Emulex Secure Fibre Channel Host Bus Adapters, designed to encrypt data and protect against ransomware, and the launch of the Brocade G710 24-port 64G switch, which is noted for its low latency and energy efficiency. Despite innovations in AI being potentially deflationary, Morgan Stanley lowered Broadcom’s price target to $246 due to market reactions to AI developments. Conversely, Barclays raised its price target to $260, citing a positive outlook for semiconductors and AI. Furthermore, there was significant bullish option activity with a notable increase in call trading and implied volatility. Broadcom’s earnings are anticipated on March 6th.
More about Broadcom Inc.
YTD Price Performance: 1.32%
Average Trading Volume: 33,005,566
Current Market Cap: $1101.7B
