During the recent session, Broadcom Inc. (NASDAQ:AVGO)’s traded shares were 1.77 million, with the beta value of the company hitting 1.10. At the last check today, the stock’s price was $770.03, reflecting an intraday gain of 5.66% or $41.23. The 52-week high for the AVGO share is $732.39, that puts it up 4.89 from that peak though still a striking 46.1% gain since the share price plummeted to a 52-week low of $415.07. The company’s market capitalization is $301.92B, and the average intraday trading volume over the past 10 days was 2.41 million shares, and the average trade volume was 2.18 million shares over the past three months.
Broadcom Inc. (AVGO) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 2.00. AVGO has a Sell rating from 0 analyst(s) out of 27 analysts who have looked at this stock. 3 analyst(s) recommend to Hold the stock while 4 suggest Overweight, and 19 recommend a Buy rating for it. 1 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $10.08.
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Broadcom Inc. (NASDAQ:AVGO) trade information
Broadcom Inc. (AVGO) registered a 5.66% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 5.66% in intraday trading to $770.03 this Thursday, 05/25/23, hitting a weekly high. The stock’s 5-day price performance is 12.87%, and it has moved by 24.52% in 30 days. Based on these gigs, the overall price performance for the year is 44.84%. The short interest in Broadcom Inc. (NASDAQ:AVGO) is 6.08 million shares and it means that shorts have 3.54 day(s) to cover.
The consensus price target of analysts on Wall Street is $716.40, which implies a decrease of -7.49% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $600.00 and $800.00 respectively. As a result, AVGO is trading at a discount of -3.89% off the target high and 22.08% off the low.
Broadcom Inc. (AVGO) estimates and forecasts
Statistics show that Broadcom Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Broadcom Inc. (AVGO) shares have gone up 44.30% during the last six months, with a year-to-date growth rate more than the industry average at 9.48% against -8.90. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to grow 11.10% this quarter and then jump 4.20% in the quarter after that. In the rating firms’ projections, revenue will increase 6.80% compared to the previous financial year.
Revenue for the current quarter is expected to be $8.7 billion as predicted by 21 analyst(s). Meanwhile, a consensus of 21 analyst(s) estimates revenue growth to $8.72 billion by the end of Jul 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $8.1 billion and $8.46 billion respectively. In this case, analysts expect current quarter sales to grow by 7.30% and then jump by 3.00% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 45.80%. While earnings are projected to return 76.80% in 2023, the next five years will return 8.30% per annum.
Broadcom Inc. is due to release its next quarterly earnings on June 01. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Broadcom Inc. is 18.40, with the dividend yield indicating at 2.52 percent, continuing the trend of increasing dividends in recent years.
Broadcom Inc. (NASDAQ:AVGO)’s Major holders
Broadcom Inc. insiders own 2.27% of total outstanding shares while institutional holders control 83.99%, with the float percentage being 85.94%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 2,831 institutions own stock in it. As of Mar 30, 2023, the company held over 40.16 million shares (or 9.63% of all shares), a total value of $31.0 billion in shares.
The next largest institutional holding, with 29.84 million shares, is of Blackrock Inc.’s that is approximately 7.16% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $23.04 billion.
Also, the Mutual Funds coming in first place with the largest holdings of Broadcom Inc. (AVGO) shares are Washington Mutual Investors Fund and Vanguard Total Stock Market Index Fund. Data provided on Mar 30, 2023 indicates that Washington Mutual Investors Fund owns about 13.55 million shares. This amounts to just over 3.25 percent of the company’s overall shares, with a $10.46 billion market value. The same data shows that the other fund manager holds slightly less at 12.31 million, or about 2.95% of the stock, which is worth about $9.51 billion.