Avanda Investment Management Pte. Ltd. Purchases 2,760 Shares of Broadcom Inc. $AVGO

Avanda Investment Management Pte. Ltd. raised its position in shares of Broadcom Inc. ( NASDAQ:AVGO – Free Report ) by 43.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,160 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,760 shares during the quarter. Broadcom accounts for 4.5% of Avanda Investment Management Pte. Ltd.’s investment portfolio, making the stock its 6th biggest holding. Avanda Investment Management Pte. Ltd.’s holdings in Broadcom were worth $2,835,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. ROSS JOHNSON & Associates LLC lifted its stake in Broadcom by 1,320.0% in the 4th quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 66 shares in the last quarter. SWAN Capital LLC boosted its position in Broadcom by 261.9% during the 4th quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock worth $26,000 after acquiring an additional 55 shares during the period. Networth Advisors LLC boosted its position in Broadcom by 546.2% during the 1st quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer’s stock worth $26,000 after acquiring an additional 71 shares during the period. Miller Global Investments LLC purchased a new position in Broadcom during the 4th quarter valued at about $31,000. Finally, Nvest Wealth Strategies Inc. purchased a new position in Broadcom during the 4th quarter valued at about $33,000.

Hedge funds and other institutional investors own 76.43% of the company’s stock.

A number of research firms have recently issued reports on AVGO. The Goldman Sachs Group reissued a “buy” rating and issued a $525.00 price target on shares of Broadcom in a research report on Thursday, June 4th. Bank of America upped their price objective on shares of Broadcom from $450.00 to $530.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. Truist Financial increased their target price on shares of Broadcom from $545.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. KeyCorp reiterated an “overweight” rating and issued a $575.00 target price (up from $500.00) on shares of Broadcom in a research report on Thursday, June 4th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $515.00 target price (up from $430.00) on shares of Broadcom in a research note on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $493.24.

Positive Sentiment: Standard Chartered chose Broadcom to support a long-term modernization of its global banking infrastructure, underscoring Broadcom’s role in secure private-cloud and enterprise networking solutions. Standard Chartered Selects Broadcom to Deliver Secure, Always-On Banking Services at Global Scale Positive Sentiment: Wall Street commentary continues to describe Broadcom as a core AI beneficiary, and some analysts have raised price targets even after the stock pullback. As Shares Fall, Analyst Are Boosting Their Broadcom Price Targets