Is Broadcom Inc (NASDAQ: AVGO) Proving The Doubters Wrong?

Broadcom Inc (AVGO) concluded trading on Thursday at a closing price of $1274.76, with 2.93 million shares of worth about $3.74 billion changed hands on the day. Half year performance of the stock remained positive as price took a surge of 49.84% during that period and on Thursday the price saw a gain of about 1.41%. Currently the company’s common shares owned by public are about 468.14M shares, out of which, 458.74M shares are available for trading.

According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 40 times over the past 12 months. They bought 303,062 shares in 16 of the transactions. In 24 selling transactions, insiders dumped 277,170 shares.

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Stock saw a price change of 6.23% in past 5 days and over the past one month there was a price change of 17.76%. Year-to-date (YTD), AVGO shares are showing a performance of 14.20% which increased to 107.46% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $572.10 but also hit the highest price of $1284.55 during that period. The average intraday trading volume for Broadcom Inc shares is 3.46 million. The stock is currently trading 7.35% above its 20-day simple moving average (SMA20), while that difference is up 15.84% for SMA50 and it goes to 41.77% higher than SMA200.

Broadcom Inc (NASDAQ: AVGO) currently have 468.14M outstanding shares and institutions hold larger chunk of about 72.79% of that.

The stock has a current market capitalization of $596.77B and its 3Y-monthly beta is at 1.27. PE ratio of stock for trailing 12 months is 38.70, while it has posted earnings per share of $32.94 in the same period. Its PEG reads 2.80 and has Quick Ratio of 2.56 while making debt-to-equity ratio of 1.65. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for AVGO, volatility over the week remained 2.93% while standing at 2.58% over the month.

Analysts are in expectations that Broadcom Inc (AVGO) stock would likely to be making an EPS of $EVgo Inc. in the current quarter, while forecast for next quarter EPS is $2.20 and it is $Stocks for next year. For the current quarter EPS, analysts have given the company a lowest target $Avinger, Inc. which is $AVROBIO, Inc. at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $AngioDynamics, Inc. in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 10.32% while it is estimated to increase by 19.59% in next year. EPS is likely to grow at an annualized rate of 13.80% for next 5-years, compared to annual growth of 2.37% made by the stock over the past 5-years.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Cantor Fitzgerald on January 23, 2024 offering an Overweight rating for the stock and assigned a target price of $1300 to it.

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