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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 announcement of the Emulex Secure Fibre Channel Host Bus Adapters, aimed at enhancing data encryption amid rising ransomware threats and regulatory demands. The company also introduced the Brocade G710 24-port 64G switch, expanding its Fibre Channel technology offerings. Meanwhile, Morgan Stanley lowered Broadcom’s price target from $265 to $246, reflecting market concerns around AI advancements like DeepSeek, which have caused volatility in tech stocks. Conversely, Barclays raised its price target to $260, maintaining optimism in Broadcom’s AI capabilities. Bullish option flows indicate strong market interest, with significant call trading activity observed. 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
