Cowen lifts Broadcom Inc. [AVGO] price estimate. Who else is bullish?

Broadcom Inc. [NASDAQ: AVGO] traded at a high on 06/23/21, posting a 0.48 gain after which it closed the day’ session at $466.66. The company report on June 21, 2021 that Broadcom Inc. and Bernstein to Host Storage Teach-In.

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Broadcom Inc. (Nasdaq: AVGO), a global technology leader that designs, develops and supplies semiconductor and infrastructure software solutions, and Bernstein will host a webcast to showcase Broadcom’s storage franchises on Wednesday, July 21, 2021, at 9:00 a.m. PT / 12:00 p.m. ET.

Hock Tan, President and Chief Executive Officer, Jas Tremblay, Vice President and General Manager of Data Center Solutions, Jack Rondoni, Senior Vice President and General Manager of Brocade Storage Networking, and Dan Dolan, Senior Director of Marketing, HDD Storage, will present.

The results of the trading session contributed to over 1706947 shares changing hands. Over the past one week, the price volatility of Broadcom Inc. stands at 1.72% while the volatility over the past one month is 1.76%.

The market cap for AVGO stock reached $194.62 billion, with 409.00 million shares outstanding and 400.61 million shares in the current float. Compared to the average trading volume of 1.91M shares, AVGO reached a trading volume of 1706947 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 $529.74 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 March 02, 2021. While these analysts kept the previous recommendation, Cowen raised their target price from $350 to $415. The new note on the price target was released on December 11, 2020, representing the official price target for Broadcom Inc. stock. On September 04, 2020, analysts increased their price target for AVGO shares from 305 to 350.

The Average True Range (ATR) for Broadcom Inc. is set at 9.20, with the Price to Sales ratio for AVGO stock in the period of the last 12 months amounting to 7.62. The Price to Book ratio for the last quarter was 7.97, with the Price to Cash per share for the same quarter was set at 22.82. Price to Free Cash Flow for AVGO in the course of the last twelve months was 28.27 with Quick ratio for the last quarter at 2.10.

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 0.20. With this latest performance, AVGO shares gained by 1.63% in over the last four-week period, additionally plugging by 8.81% over the last 6 months – not to mention a rise of 49.91% 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 52.13, with the RSI for the last a single of trading hit 51.53, and the three-weeks RSI is set at 51.84 for Broadcom Inc. [AVGO]. The present Moving Average for the last 50 days of trading for this stock 459.25, while it was recorded at 466.08 for the last single week of trading, and 430.55 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 +18.24 and a Gross Margin at +46.68. Broadcom Inc.’s Net Margin is presently recorded at +12.40.

Return on Total Capital for AVGO is now 7.06, given the latest momentum, and Return on Invested Capital for the company is 4.95. Return on Equity for this stock inclined to 12.12, with Return on Assets sitting at 4.13. When it comes to the capital structure of this company, Broadcom Inc. [AVGO] has a Total Debt to Total Equity ratio set at 174.42. Additionally, AVGO Total Debt to Total Capital is recorded at 63.56, with Total Debt to Total Assets ending up at 54.90. Long-Term Debt to Equity for the company is recorded at 170.74, with the Long-Term Debt to Total Capital now at 62.15.

Reflecting on the efficiency of the workforce at the company, Broadcom Inc. [AVGO] managed to generate an average of $141,000 per employee. Receivables Turnover for the company is 8.60 with a Total Asset Turnover recorded at a value of 0.33.Broadcom Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.10 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 5.4/share EPS, while the average EPS was predicted by analysts to be reported at 5.24/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 3.10%. 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 8.50%.

Insider trade positions for Broadcom Inc. [AVGO]

There are presently around $157,138 million, or 83.30% of AVGO stock, in the hands of institutional investors. The top three institutional holders of AVGO stocks are: CAPITAL WORLD INVESTORS with ownership of 39,049,787, which is approximately 0.421% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 36,484,304 shares of the stock with an approximate value of $17.03 billion in AVGO stocks shares; and CAPITAL INTERNATIONAL INVESTORS, currently with $15.51 billion in AVGO stock with ownership of nearly 0.844% of the company’s market capitalization.

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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 908 institutional holders increased their position in Broadcom Inc. [NASDAQ:AVGO] by around 16,920,529 shares. Additionally, 693 investors decreased positions by around 12,128,851 shares, while 175 investors held positions by with 307,678,914 shares. The mentioned changes placed institutional holdings at 336,728,294 shares, according to the latest SEC report filing. AVGO stock had 160 new institutional investments in for a total of 1,557,134 shares, while 94 institutional investors sold positions of 742,288 shares during the same period.

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