Broadcom Bounces From Institutional Bottom The price action in Broadcom (NASDAQ: AVGO ) and other semiconductor companies has been trending lower over the past quarter or two but, in the case of Broadcom at least, that trend appears to be over. The downtrend was driven in large part by institutional selling, along with fears of a slowing market, but the fears have been allayed and institutional selling should begin to let up. The institutions have been net sellers for the last two quarters but buying has been at multi-year highs as well, suggesting rotation more than anything else. The analysts are rating the stock a Moderate Buy and see a healthy upside in the stock. The few commentaries that have come out are all accompanied by positive sentiment although they''ve all lowered their price targets. The range of the latest four targets is $630 to $700 compared to the broad consensus of $675 which is 35% above the most recent price action. The takeaway from the commentaries is that Broadcom is well-positioned within the semiconductor market and supported by strong demand in data-center, cloud, and infrastructure end-markets. "While we do not expect …