Raymond James slashes price target on Broadcom Inc. [AVGO] – find out why.

Broadcom Inc. [NASDAQ: AVGO] surged by $10.46 during the normal trading session on Thursday and reaching a high of $637.07 during the day while it closed the day at $636.50. The company report on March 15, 2023 that Broadcom Now Shipping World’s First 51.2 Tbps Switch in Production Volume.

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Broadcom Inc. stock has also gained 2.25% of its value over the past 7 days. However, AVGO stock has inclined by 11.46% in the 3 months of the year. Over the past six months meanwhile, it has gained 24.62% and gained 13.84% year-on date.

The market cap for AVGO stock reached $268.69 billion, with 418.00 million shares outstanding and 414.94 million shares in the current float. Compared to the average trading volume of 2.22M shares, AVGO reached a trading volume of 3047396 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 $671.43 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.

Raymond James have made an estimate for Broadcom Inc. shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on March 02, 2023. While these analysts kept the previous recommendation, Exane BNP Paribas raised their target price to Outperform. The new note on the price target was released on February 28, 2023, representing the official price target for Broadcom Inc. stock. Previously, the target price had yet another drop from $662 to $659, while Truist kept a Buy rating on AVGO stock. On December 09, 2022, analysts increased their price target for AVGO shares from 540 to 555.

The Average True Range (ATR) for Broadcom Inc. is set at 15.28, with the Price to Sales ratio for AVGO stock in the period of the last 12 months amounting to 7.81. The Price to Book ratio for the last quarter was 11.41, with the Price to Cash per share for the same quarter was set at 29.96. Price to Free Cash Flow for AVGO in the course of the last twelve months was 27.80 with Quick ratio for the last quarter at 2.30.

AVGO stock trade performance evaluation

Broadcom Inc. [AVGO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.25. With this latest performance, AVGO shares gained by 5.68% in over the last four-week period, additionally plugging by 24.62% over the last 6 months – not to mention a rise of 7.38% 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 62.82, with the RSI for the last a single of trading hit 64.86, and the three-weeks RSI is set at 61.50 for Broadcom Inc. [AVGO]. The present Moving Average for the last 50 days of trading for this stock 595.54, while it was recorded at 625.26 for the last single week of trading, and 531.26 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 +43.03 and a Gross Margin at +62.01. Broadcom Inc.’s Net Margin is presently recorded at +34.62.

Return on Equity for this stock inclined to 48.20, with Return on Assets sitting at 15.45.

Broadcom Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.30 and a Current Ratio set at 2.50.

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 9.40%.

Broadcom Inc. [AVGO]: Insider Ownership positions

There are presently around $215,547 million, or 80.70% of AVGO stock, in the hands of institutional investors. The top three institutional holders of AVGO stocks are: VANGUARD GROUP INC with ownership of 39,039,754, which is approximately 3.739% of the company’s market cap and around 0.10% of the total institutional ownership; CAPITAL INTERNATIONAL INVESTORS, holding 30,224,538 shares of the stock with an approximate value of $19.24 billion in AVGO stocks shares; and CAPITAL WORLD INVESTORS, currently with $18.69 billion in AVGO stock with ownership of nearly -7.125% of the company’s market capitalization.

Positions in Broadcom Inc. stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 1,218 institutional holders increased their position in Broadcom Inc. [NASDAQ:AVGO] by around 16,016,160 shares. Additionally, 853 investors decreased positions by around 12,463,377 shares, while 209 investors held positions by with 310,163,843 shares. The mentioned changes placed institutional holdings at 338,643,380 shares, according to the latest SEC report filing. AVGO stock had 273 new institutional investments in for a total of 1,382,501 shares, while 118 institutional investors sold positions of 2,812,578 shares during the same period.


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