Broadcom Inc. [AVGO] Stock trading around $372.05 per share: What’s Next?

Broadcom Inc. [NASDAQ: AVGO] price plunged by -1.31 percent to reach at -$4.94. The company report on September 11, 2020 that Broadcom Inc. to Present at Deutsche Bank Technology Conference.

Broadcom Inc. (Nasdaq: AVGO), a global technology leader that designs, develops and supplies semiconductor and infrastructure software solutions, today announced that Hock Tan, President and Chief Executive Officer, will participate in a fireside chat at the Deutsche Bank Technology Conference, on Tuesday, September 15, 2020, at 7:20 a.m. PT.

A live audio webcast and replay will be available at investors.broadcom.com under Events & Presentations.

A sum of 1186745 shares traded at recent session while its average daily volume was at 1.86M shares. Broadcom Inc. shares reached a high of $376.86 and dropped to a low of $370.31 until finishing in the latest session at $372.05.

The one-year AVGO stock forecast points to a potential upside of 7.17. The average equity rating for AVGO stock is currently 2.00, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on 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 $400.79 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.

Cowen have made an estimate for Broadcom Inc. shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on September 04, 2020. The new note on the price target was released on June 26, 2020, representing the official price target for Broadcom Inc. stock. Previously, the target price had yet another raise from $325 to $350, while Mizuho kept a Buy rating on AVGO stock.

The Average True Range (ATR) for Broadcom Inc. is set at 8.22, with the Price to Sales ratio for AVGO stock in the period of the last 12 months amounting to 6.51. The Price to Book ratio for the last quarter was 6.37, with the Price to Cash per share for the same quarter was set at 21.82. Price to Free Cash Flow for AVGO in the course of the last twelve months was 27.25 with Quick ratio for the last quarter at 1.90.

AVGO Stock Performance Analysis:

Broadcom Inc. [AVGO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.17. With this latest performance, AVGO shares gained by 2.89% in over the last four-week period, additionally plugging by 43.69% over the last 6 months – not to mention a rise of 29.43% 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 54.81, with the RSI for the last a single of trading hit 49.49, and the three-weeks RSI is set at 55.95 for Broadcom Inc. [AVGO]. The present Moving Average for the last 50 days of trading for this stock 356.95, while it was recorded at 376.68 for the last single week of trading, and 304.36 for the last 200 days.

Insight into Broadcom Inc. Fundamentals:

Broadcom Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.90 and a Current Ratio set at 2.00.

AVGO Stock EPS

With the latest financial reports released by the company, Broadcom Inc. posted 5.39/share EPS, while the average EPS was predicted by analysts to be reported at 5.35/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 0.70%. 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 7.90%.

Broadcom Inc. [AVGO] Insider Position Details

There are presently around $123,842 million, or 83.60% 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 $13.03 billion in AVGO stocks shares; and VANGUARD GROUP INC, currently with $12.45 billion in AVGO stock with ownership of nearly 0.407% of the company’s market capitalization.

754 institutional holders increased their position in Broadcom Inc. [NASDAQ:AVGO] by around 14,666,699 shares. Additionally, 605 investors decreased positions by around 12,552,940 shares, while 116 investors held positions by with 305,643,876 shares. The mentioned changes placed institutional holdings at 332,863,515 shares, according to the latest SEC report filing. AVGO stock had 178 new institutional investments in for a total of 1,453,786 shares, while 91 institutional investors sold positions of 1,398,398 shares during the same period.

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