Farallon Capital Management, led by Andrew J.M. Spokes, significantly increased its stake in Broadcom Inc. (AVGO) by adding 892,400 shares. Despite recent stock volatility, Wall Street analysts maintain a “Strong Buy” rating for Broadcom due to its AI ASIC partnership with Google and strong EPS growth forecasts, although some caution regarding potential internalization of hardware by hyperscalers exists. TipRanks’ AI Analyst also rates AVGO as “Outperform” citing strong financial performance and upbeat earnings outlook, balanced against a stretched valuation and mixed technical indicators.
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Farallon Capital Boosts Broadcom Stake With 892,400 Shares
Farallon Capital Management, led by Andrew J.M. Spokes, significantly increased its stake in Broadcom Inc. (AVGO) by adding 892,400 shares. Despite recent stock volatility, Wall Street analysts maintain a “Strong Buy” rating for Broadcom due to its AI ASIC partnership with Google and strong EPS growth forecasts, although some caution regarding potential internalization of hardware by hyperscalers exists. TipRanks’ AI Analyst also rates AVGO as “Outperform” citing strong financial performance and upbeat earnings outlook, balanced against a stretched valuation and mixed technical indicators.