The investor opened a new position in Broadcom Inc. (NASDAQ:AVGO), acquiring 50,000 shares in the quarter.
Meanwhile, the company slashed its holdings in its peers, NVIDIA Corporation (NASDAQ:NVDA) and Taiwan Semiconductor Manufacturing Company (NYSE: TSM), during 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
Broadcom reported first-quarter revenue of $19.31 billion, beating analyst estimates of $19.20 billion. The company posted adjusted earnings of $2.05 per share for the quarter, beating analyst estimates of $2.02 per share, according to Benzinga Pro.
The company expects fiscal second-quarter revenue of approximately $22 billion versus estimates of $20.68 billion and adjusted EBITDA at 68% of projected revenue.
Also, Broadcom announced a new $10 billion share repurchase program.
It has secured the high-bandwidth memory (HBM) and advanced-node manufacturing capacity at Taiwan Semiconductor needed to support its AI chip production through 2028, easing concerns about potential supply shortages.
CEO Hock Tan said the company expects AI chip revenue to exceed $100 billion in 2027, citing strong demand for custom ...
