For Broadcom Inc. [AVGO], Analyst sees a rise to $690. What next?

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Broadcom Inc. [NASDAQ: AVGO] slipped around -23.67 points on Thursday, while shares priced at $579.99 at the close of the session, down -3.92%. The company report on May 3, 2022 that Broadcom’s Industry-Leading AI, Security and Hybrid Cloud Solutions Accelerate Client Value on New z16 Mainframe.

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Broadcom Software Announces Day One Support for its Solution Stack on Next Generation Mainframe.

Broadcom Inc. (NASDAQ:AVGO) announced today expanding opportunities for organizations to gain greater value from the company’s advanced AI, security, and hybrid cloud solutions with “Day One” support for IBM’s new z16. Broadcom’s suite of leading software solutions, services, and unique “beyond code” programs provide clients the advantage they need to succeed in an increasingly challenging business environment.

Broadcom Inc. stock is now -12.84% down from its year-to-date (YTD) trading value. AVGO Stock saw the intraday high of $597.865 and lowest of $574.285 per share. The company’s 52-week high price is 677.76, which means current price is +12.97% above from all time high which was touched on 01/04/22.

Compared to the average trading volume of 2.29M shares, AVGO reached a trading volume of 3250043 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 $688.56 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 1.90. 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.

UBS have made an estimate for Broadcom Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 04, 2022. While these analysts kept the previous recommendation, Truist raised their target price from $659 to $686. The new note on the price target was released on March 04, 2022, representing the official price target for Broadcom Inc. stock. Previously, the target price had yet another raise from $750 to $775, while Rosenblatt kept a Buy rating on AVGO stock. On March 04, 2022, analysts decreased their price target for AVGO shares from 723 to 703.

The Average True Range (ATR) for Broadcom Inc. is set at 20.31, with the Price to Sales ratio for AVGO stock in the period of the last 12 months amounting to 8.68. The Price to Book ratio for the last quarter was 10.40, with the Price to Cash per share for the same quarter was set at 23.97. Price to Free Cash Flow for AVGO in the course of the last twelve months was 34.00 with Quick ratio for the last quarter at 2.20.

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 0.18. With this latest performance, AVGO shares dropped by -5.56% in over the last four-week period, additionally plugging by 6.94% over the last 6 months – not to mention a rise of 29.29% 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 47.64, with the RSI for the last a single of trading hit 48.10, and the three-weeks RSI is set at 47.81 for Broadcom Inc. [AVGO]. The present Moving Average for the last 50 days of trading for this stock 594.44, while it was recorded at 579.11 for the last single week of trading, and 557.13 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 +31.64 and a Gross Margin at +54.23. Broadcom Inc.’s Net Margin is presently recorded at +24.54.

Return on Equity for this stock inclined to 27.56, with Return on Assets sitting at 8.89.

Broadcom Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.20 and a Current Ratio set at 2.40.

Earnings analysis for Broadcom Inc. [AVGO]

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 14.74%.

Insider trade positions for Broadcom Inc. [AVGO]

There are presently around $201,113 million, or 83.10% of AVGO stock, in the hands of institutional investors. The top three institutional holders of AVGO stocks are: CAPITAL WORLD INVESTORS with ownership of 38,027,878, which is approximately -1.56% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 36,465,158 shares of the stock with an approximate value of $22.01 billion in AVGO stocks shares; and CAPITAL INTERNATIONAL INVESTORS, currently with $19.25 billion in AVGO stock with ownership of nearly -6.803% 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 1,140 institutional holders increased their position in Broadcom Inc. [NASDAQ:AVGO] by around 14,448,614 shares. Additionally, 737 investors decreased positions by around 15,007,677 shares, while 233 investors held positions by with 303,699,825 shares. The mentioned changes placed institutional holdings at 333,156,116 shares, according to the latest SEC report filing. AVGO stock had 254 new institutional investments in for a total of 956,354 shares, while 90 institutional investors sold positions of 727,293 shares during the same period.