Cantor Fitzgerald slashes price target on Broadcom Inc [AVGO] – find out why.

Broadcom Inc [NASDAQ: AVGO] stock went on an upward path that rose over 6.31% on Thursday, amounting to a one-week price increase of more than 3.38%. The company report on February 20, 2024 at 8:00 AM that Broadcom Inc. to Host Enabling AI in Infrastructure Investor Meeting.

Broadcom Inc. (Nasdaq: AVGO), a global technology leader that designs, develops and supplies semiconductor and infrastructure software solutions, will host an Investor meeting, Broadcom Enabling AI in Infrastructure, in San Jose, California, on Wednesday, March 20, 2024.

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The Broadcom Enabling AI in Infrastructure Investor meeting will begin at 9:00 a.m. PT / 12:00 p.m. ET and will include presentations from Charlie Kawwas, President, Semiconductor Solutions Group and General Managers on Broadcom’s merchant silicon portfolio. The event will conclude at approximately 10:45 a.m. PT / 1:45 p.m. ET.

Over the last 12 months, AVGO stock rose by 124.39%. The one-year Broadcom Inc stock forecast points to a potential downside of -5.66. The average equity rating for AVGO stock is currently 1.74, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $610.88 billion, with 468.14 million shares outstanding and 458.51 million shares in the current float. Compared to the average trading volume of 3.50M shares, AVGO stock reached a trading volume of 4026547 in the most recent trading day, which is why market watchdogs consider the stock to be active.

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 $1234.98 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 1.74. 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.

Cantor Fitzgerald have made an estimate for Broadcom Inc shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on January 23, 2024. While these analysts kept the previous recommendation, Goldman raised their target price to Buy. The new note on the price target was released on January 19, 2024, representing the official price target for Broadcom Inc stock. Previously, the target price had yet another raise to $1100, while Citigroup analysts kept a Buy rating on AVGO stock.

The Average True Range (ATR) for Broadcom Inc is set at 36.58, with the Price to Sales ratio for AVGO stock in the period of the last 12 months amounting to 17.05. The Price to Book ratio for the last quarter was 22.52, with the Price to Cash per share for the same quarter was set at 30.31. Price to Free Cash Flow for AVGO in the course of the last twelve months was 34.64 with Quick ratio for the last quarter at 2.56.

AVGO Stock Performance Analysis:

Broadcom Inc [AVGO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.38. With this latest performance, AVGO shares gained by 6.41% in over the last four-week period, additionally plugging by 52.48% over the last 6 months – not to mention a rise of 124.39% 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 66.32, with the RSI for the last a single of trading hit 68.16, and the three-weeks RSI is set at 65.61 for Broadcom Inc [AVGO]. The present Moving Average for the last 50 days of trading for this stock 1,166.54, while it was recorded at 1,253.89 for the last single week of trading, and 931.08 for the last 200 days.

Insight into Broadcom Inc Fundamentals:

Broadcom Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.56 and a Current Ratio set at 2.82.

AVGO Stock EPS

With the latest financial reports released by the company, Broadcom Inc posted 10.33/share EPS, while the average EPS was predicted by analysts to be reported at 10.1/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 2.30%. 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 13.80%.

Broadcom Inc [AVGO] Institutonal Ownership Details

The top three institutional holders of AVGO stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in AVGO stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in AVGO stock with ownership which is approximately 5.8325%.