Why Broadcom Stock Eked out a win on Wednesday

On a fairly forgettable Wednesday for U.S. stock markets, Broadcom (NASDAQ: AVGO) was a bit of an outperformer. The company’s stock saw a bump in price, rising by 0.7% after an analyst initiated coverage with a positive evaluation. That performance, although modest, was good enough to top the essentially flat-lining S&P 500 index.

That morning, before the market’s opening bell, Seaport Global Securities’s Jay Goldberg launched his coverage of Broadcom. Happily for the company…