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

Broadcom Inc. [NASDAQ: AVGO] surged by $7.4 during the normal trading session on Thursday and reaching a high of $443.77 during the day while it closed the day at $437.97. The company report on October 13, 2022 that Broadcom Announces Industry-Leading Connectivity Portfolio for Hyperscale Video Storage at Scale.

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Connected by Broadcom, Unveils Industry’s Broadest Storage Solutions for End-to-End Connectivity Portfolio.

Broadcom Inc. (NASDAQ:AVGO), the market leader in hyperscale video storage connectivity, today announced it is expanding its silicon, software and hardware storage connectivity products with enhanced performance, capabilities and power. This expanded product portfolio is the result of multi-generational investments that are intended to aid hyperscale data centers to manage and maintain the storage connectivity they need to deliver video storage at scale.

Broadcom Inc. stock has also loss -8.66% of its value over the past 7 days. However, AVGO stock has declined by -11.42% in the 3 months of the year. Over the past six months meanwhile, it has lost -26.09% and lost -34.18% year-on date.

The market cap for AVGO stock reached $193.59 billion, with 424.48 million shares outstanding and 415.17 million shares in the current float. Compared to the average trading volume of 2.18M shares, AVGO reached a trading volume of 2797886 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $653.17 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 16.29, with the Price to Sales ratio for AVGO stock in the period of the last 12 months amounting to 6.11. The Price to Book ratio for the last quarter was 8.50, with the Price to Cash per share for the same quarter was set at 22.57. Price to Free Cash Flow for AVGO in the course of the last twelve months was 22.79 with Quick ratio for the last quarter at 2.00.

AVGO stock trade performance evaluation

Broadcom Inc. [AVGO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.66. With this latest performance, AVGO shares dropped by -14.25% in over the last four-week period, additionally sinking by -26.09% over the last 6 months – not to mention a drop of -9.70% 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 35.86, with the RSI for the last a single of trading hit 34.90, and the three-weeks RSI is set at 37.33 for Broadcom Inc. [AVGO]. The present Moving Average for the last 50 days of trading for this stock 503.15, while it was recorded at 439.50 for the last single week of trading, and 552.11 for the last 200 days.

Broadcom Inc. [AVGO]: An insightful look at the core 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 2.00 and a Current Ratio set at 2.30.

Earnings per share (EPS) analysis for Broadcom Inc. [AVGO] stock

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 15.20%.

Broadcom Inc. [AVGO]: Insider Ownership positions

There are presently around $146,914 million, or 78.20% of AVGO stock, in the hands of institutional investors. The top three institutional holders of AVGO stocks are: VANGUARD GROUP INC with ownership of 37,442,478, which is approximately 1.262% of the company’s market cap and around 2.25% of the total institutional ownership; CAPITAL WORLD INVESTORS, holding 33,540,883 shares of the stock with an approximate value of $14.69 billion in AVGO stocks shares; and CAPITAL INTERNATIONAL INVESTORS, currently with $13.34 billion in AVGO stock with ownership of nearly -2.202% of the company’s market capitalization.

Positions in Broadcom Inc. stocks held by institutional investors increased at the end of September and at the time of the September reporting period, where 1,055 institutional holders increased their position in Broadcom Inc. [NASDAQ:AVGO] by around 12,372,642 shares. Additionally, 905 investors decreased positions by around 15,557,235 shares, while 217 investors held positions by with 307,513,240 shares. The mentioned changes placed institutional holdings at 335,443,117 shares, according to the latest SEC report filing. AVGO stock had 131 new institutional investments in for a total of 1,992,092 shares, while 160 institutional investors sold positions of 1,513,496 shares during the same period.


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