China Universal Asset Management Co. Ltd. significantly increased its stake in Broadcom Inc. by 7.8% in the third quarter, purchasing 10,609 additional shares to bring its total holdings to 147,363 shares valued at $48.62 million. Broadcom (NASDAQ:AVGO) recently exceeded quarterly EPS and revenue estimates, raised its dividend, and holds a “Buy” consensus rating from analysts with an average price target of $433.13. The company benefits from product catalysts like the BroadPeak 5nm DFE SoC for 5G/6G and a reported $73 billion AI backlog, though its valuation and insider selling present near-term risks.
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China Universal Asset Management Co. Ltd. Acquires 10,609 Shares of Broadcom Inc. $AVGO
China Universal Asset Management Co. Ltd. significantly increased its stake in Broadcom Inc. by 7.8% in the third quarter, purchasing 10,609 additional shares to bring its total holdings to 147,363 shares valued at $48.62 million. Broadcom (NASDAQ:AVGO) recently exceeded quarterly EPS and revenue estimates, raised its dividend, and holds a “Buy” consensus rating from analysts with an average price target of $433.13. The company benefits from product catalysts like the BroadPeak 5nm DFE SoC for 5G/6G and a reported $73 billion AI backlog, though its valuation and insider selling present near-term risks.