Reassessing The Changing Outlook For Broadcom Inc (AVGO)

Currently, there are 465.49M common shares owned by the public and among those 455.99M shares have been available to trade.

The company’s stock has a 5-day price change of -8.23% and 17.64% over the past three months. AVGO shares are trading 42.64% year to date (YTD), with the 12-month market performance up to 89.00% higher. It has a 12-month low price of $795.09 and touched a high of $1851.62 over the same period. AVGO has an average intraday trading volume of 3.06 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 6.13%, 14.33%, and 38.02% respectively.

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Institutional ownership of Broadcom Inc (NASDAQ: AVGO) shares accounts for 77.85% of the company’s 465.49M shares outstanding.

It has a market capitalization of $741.16B and a beta (3y monthly) value of 1.19. The stock’s trailing 12-month PE ratio is 68.50, while the earnings-per-share (ttm) stands at $23.24. The company has a PEG of 3.87 and a Quick Ratio of 1.16 with the debt-to-equity ratio at 1.06. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.07% over the week and 3.23% over the month.

Earnings per share for the fiscal year are expected to increase by 12.93%, and 26.33% over the next financial year. EPS should grow at an annualized rate of 17.70% over the next five years, compared to 2.37% over the past 5-year period.

Looking at the support for the AVGO, a number of firms have released research notes about the stock. Citigroup stated their Buy rating for the stock in a research note on June 11, 2024, with the firm’s price target at $1560. Melius coverage for the Broadcom Inc (AVGO) stock in a research note released on June 03, 2024 offered a Buy rating with a price target of $1850. Jefferies was of a view on May 13, 2024 that the stock is Buy, while Barclays gave the stock Overweight rating on April 17, 2024, issuing a price target of $1405- $1500. Evercore ISI on their part issued Outperform rating on April 16, 2024.

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