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Should You Consider Adding Broadcom (AVGO) Shares in Your Portfolio?

Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Growth & Income Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. Since 2015, for the first time, the market witnessed two consecutive quarterly losses. During the second quarter, the S&P 500 Index continued its decline, trading at -16.1%. Inflation concerns and interest rate hikes impacted the fund’s performance in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Carillon Tower Advisers discussed stocks like Broadcom Inc. (NASDAQ:AVGO) in the second quarter 2022 investor letter. Headquartered in San Jose, California, Broadcom Inc. (NASDAQ:AVGO) engages in the business of semiconductor devices. On October 3, 2022, Broadcom Inc. (NASDAQ:AVGO) stock closed at $456.78 per share. One-month return of Broadcom Inc. (NASDAQ:AVGO) was -8.31% and its shares lost 5.90% of their value over the last 52 weeks. Broadcom Inc. (NASDAQ:AVGO) has a market capitalization of $185 billion.

Here is what Carillon Tower Advisers specifically said about Broadcom Inc. (NASDAQ:AVGO) in its Q2 2022 investor letter:

"Tech stocks, including Broadcom Inc. (NASDAQ:AVGO), were one of the hardest-hit sectors due to fears over a weakening macroeconomic environment. Broadcom, however, outperformed semiconductor peers as its end-market exposures provided relatively more defensive characteristics."

Photo by Christian Wiediger on Unsplash

Broadcom Inc. (NASDAQ:AVGO) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 66 hedge fund portfolios held Broadcom Inc. (NASDAQ:AVGO) at the end of the second quarter which was 71 in the previous quarter.

We discussed Broadcom Inc. (NASDAQ:AVGO) in another article and shared the list of companies that are buying back their stock in 2022. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.