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Platinum Investment Management, managed by Marcia Venegas, recently executed a significant transaction involving Broadcom Inc. ((AVGO)). The hedge fund reduced its position by 139,433 shares.
Recent Updates on Broadcom Inc. stock
Recent developments for Broadcom Inc. (AVGO) highlight its strategic focus on innovation and market positioning. The company announced the Emulex Secure Fibre Channel Host Bus Adapters to enhance data encryption amidst rising concerns over ransomware and regulatory compliance. Analysts at Morgan Stanley adjusted Broadcom’s price target from $265 to $246, citing potential deflationary effects of AI innovations like DeepSeek, which has caused market turbulence. However, Barclays raised the price target to $260, maintaining an Overweight rating due to Broadcom’s strengths in proprietary technology. Additionally, Barclays anticipates a significant role for Broadcom in the AI sector by 2025. Broadcom also introduced the Brocade G710 switch, bolstering its Gen 7 Fibre Channel portfolio, and detected bullish option flow with increased call trading activity ahead of its March earnings report.
More about Broadcom Inc.
YTD Price Performance: 1.32%
Average Trading Volume: 33,005,566
Current Market Cap: $1101.7B
