By Lekha Gupta
Publication Date: 2026-05-29 16:52:00
Hedge fund billionaire Daniel Loeb reshuffled his exposure in the semiconductor industry at Third Point LLC in the first quarter of FY26.
The investor opened a new position in Broadcom Inc. (NASDAQ:AVGO), acquiring 50,000 shares in the quarter.
Holdings in NVIDIA were reduced from around 2.95 million shares to 190,000 shares. Loeb sharply cut Taiwan Semiconductor stake from about 425,000 shares to 275,000 shares.
AVGO: Earnings Snapshot
Recent Key Events
TECHNICAL MOMENTUM:
Broadcom (AVGO) is currently experiencing strong upward momentum, with a daily change of 3.14%. The stock is trading significantly above its 50-day ($383.08), 100-day ($357.59), and 200-day ($351.63) moving averages, indicating a bullish trend. Key resistance is observed near the 52-week high of $442.36, while support can be identified around the 50-day moving average.
AVGO Stock Price Activity: Broadcom shares were up 3.14% at $439.96 at the time of publication Friday. Over the past month, AVGO has gained…