Broadcom Inc [NASDAQ: AVGO] plunged by -$1.24 during the normal trading session on while it closed the day at $1291.88. The company report on March 7, 2024 at 4:15 PM that Broadcom Inc. Announces First Quarter Fiscal Year 2024 Financial Results and Quarterly Dividend.
Revenue of $11,961 million for the first quarter, up 34 percent from the prior year period.
Cash from operations of $4,815 million for the first quarter, less capital expenditures of $122 million, resulted in $4,693 million of free cash flow, or 39 percent of revenue.
Broadcom Inc stock has also loss -3.79% of its value over the past 7 days. However, AVGO stock has inclined by 36.81% in the 3 months of the year. Over the past six months meanwhile, it has gained 50.37% and gained 15.73% year-on date.
The market cap for AVGO stock reached $598.68 billion, with 463.42 million shares outstanding and 453.98 million shares in the current float. Compared to the average trading volume of 3.25M shares, AVGO reached a trading volume of 4221735 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 $1510.38 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 1.71. 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.
TD 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 08, 2024. While these analysts kept the previous recommendation, Cantor Fitzgerald raised their target price to Overweight. The new note on the price target was released on January 23, 2024, representing the official price target for Broadcom Inc stock. Previously, the target price had yet another raise to $1325, while Goldman analysts kept a Buy rating on AVGO stock.
The Average True Range (ATR) for Broadcom Inc is set at 48.58, with the Price to Sales ratio for AVGO stock in the period of the last 12 months amounting to 15.40. The Price to Book ratio for the last quarter was 22.30, with the Price to Cash per share for the same quarter was set at 25.60. Price to Free Cash Flow for AVGO in the course of the last twelve months was 32.55 with Quick ratio for the last quarter at 1.24.
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 -3.79. With this latest performance, AVGO shares gained by 0.66% in over the last four-week period, additionally plugging by 50.37% over the last 6 months – not to mention a rise of 110.12% 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 50.63, with the RSI for the last a single of trading hit 46.10, and the three-weeks RSI is set at 53.57 for Broadcom Inc [AVGO]. The present Moving Average for the last 50 days of trading for this stock 1,223.19, while it was recorded at 1,330.15 for the last single week of trading, and 975.14 for the last 200 days.
Broadcom Inc [AVGO]: An insightful look at the core fundamentals
Broadcom Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.24 and a Current Ratio set at 1.33.
Earnings per share (EPS) analysis for Broadcom Inc [AVGO] stock
With the latest financial reports released by the company, Broadcom Inc posted 10.32/share EPS, while the average EPS was predicted by analysts to be reported at 10.08/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 2.40%. 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]: Institutional Ownership
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%.
