Broadcom Inc. [NASDAQ: AVGO] slipped around -0.53 points on Thursday, while shares priced at $339.14 at the close of the session, down -0.16%. The company report on August 10, 2020 that Broadcom Announces Completion of Exchange Offer for Senior Notes.
Broadcom Inc. (NASDAQ: AVGO) (“Broadcom” or the “Company”) announced today that it has completed its offer to exchange any and all of its outstanding unregistered notes listed below that were originally issued in private placements for an equal principal amount of new issues of notes registered under the Securities Act of 1933, as amended.
Tenders with respect to $24,126,593,000 aggregate principal amount of the original notes, out of a total of $24,180,261,000 aggregate principal amount eligible to participate in the exchange offer, were received prior to the expiration of the exchange offer at 11:59 p.m., New York City time, on August 7, 2020. Tenders received prior to the expiration of the exchange offer for each series of original notes are set forth in the table below.
Broadcom Inc. stock is now 7.32% up from its year-to-date (YTD) trading value. AVGO Stock saw the intraday high of $341.30 and lowest of $336.14 per share. The company’s 52-week high price is 341.51, which means current price is +117.86% above from all time high which was touched on 08/26/20.
Compared to the average trading volume of 2.09M shares, AVGO reached a trading volume of 1252453 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Broadcom Inc. [AVGO]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AVGO shares is $348.78 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AVGO stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Evercore ISI have made an estimate for Broadcom Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on June 26, 2020. While these analysts kept the previous recommendation, Mizuho raised their target price from $325 to $350. The new note on the price target was released on June 22, 2020, representing the official price target for Broadcom Inc. stock. Previously, the target price had yet another raise to $400, while Credit Suisse analysts kept a Outperform rating on AVGO stock. On June 09, 2020, analysts increased their price target for AVGO shares from 250 to 350.
The Average True Range (ATR) for Broadcom Inc. is set at 6.08, with the Price to Sales ratio for AVGO stock in the period of the last 12 months amounting to 5.94. The Price to Book ratio for the last quarter was 5.68, with the Price to Cash per share for the same quarter was set at 22.97. Price to Free Cash Flow for AVGO in the course of the last twelve months was 26.62 with Quick ratio for the last quarter at 2.00.
How has AVGO stock performed recently?
Broadcom Inc. [AVGO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.14. With this latest performance, AVGO shares gained by 9.81% in over the last four-week period, additionally plugging by 24.40% over the last 6 months – not to mention a rise of 22.85% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AVGO stock in for the last two-week period is set at 66.48, with the RSI for the last a single of trading hit 71.95, and the three-weeks RSI is set at 63.69 for Broadcom Inc. [AVGO]. The present Moving Average for the last 50 days of trading for this stock 319.41, while it was recorded at 335.79 for the last single week of trading, and 295.17 for the last 200 days.
Broadcom Inc. [AVGO]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Broadcom Inc. [AVGO] shares currently have an operating margin of +19.16 and a Gross Margin at +47.18. Broadcom Inc.’s Net Margin is presently recorded at +12.11.
Return on Total Capital for AVGO is now 8.50, given the latest momentum, and Return on Invested Capital for the company is 5.52. Return on Equity for this stock inclined to 10.60, with Return on Assets sitting at 4.65. When it comes to the capital structure of this company, Broadcom Inc. [AVGO] has a Total Debt to Total Equity ratio set at 131.35. Additionally, AVGO Total Debt to Total Capital is recorded at 56.78, with Total Debt to Total Assets ending up at 48.59. Long-Term Debt to Equity for the company is recorded at 120.33, with the Long-Term Debt to Total Capital now at 51.95.
Reflecting on the efficiency of the workforce at the company, Broadcom Inc. [AVGO] managed to generate an average of $144,000 per employee. Receivables Turnover for the company is 6.80 with a Total Asset Turnover recorded at a value of 0.38.Broadcom Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.00 and a Current Ratio set at 2.20.
Earnings analysis for Broadcom Inc. [AVGO]
With the latest financial reports released by the company, Broadcom Inc. posted 5.16/share EPS, while the average EPS was predicted by analysts to be reported at 5.13/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 0.60%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for AVGO. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Broadcom Inc. go to 13.05%.
Insider trade positions for Broadcom Inc. [AVGO]
There are presently around $112,997 million, or 84.50% of AVGO stock, in the hands of institutional investors. The top three institutional holders of AVGO stocks are: CAPITAL WORLD INVESTORS with ownership of 39,035,422, which is approximately 1.806% of the company’s market cap and around 0.20% of the total institutional ownership; CAPITAL INTERNATIONAL INVESTORS, holding 35,013,371 shares of the stock with an approximate value of $11.87 billion in AVGO stocks shares; and VANGUARD GROUP INC, currently with $11.34 billion in AVGO stock with ownership of nearly 0.407% of the company’s market capitalization.
Positions in Broadcom Inc. stocks held by institutional investors increased at the end of June and at the time of the June reporting period, where 749 institutional holders increased their position in Broadcom Inc. [NASDAQ:AVGO] by around 14,764,928 shares. Additionally, 592 investors decreased positions by around 13,106,371 shares, while 117 investors held positions by with 305,316,386 shares. The mentioned changes placed institutional holdings at 333,187,685 shares, according to the latest SEC report filing. AVGO stock had 174 new institutional investments in for a total of 1,521,511 shares, while 82 institutional investors sold positions of 1,448,472 shares during the same period.