In the last trading session, 20.52 million shares of the Broadcom Inc (NASDAQ:AVGO) were traded, and its beta was 1.18. Most recently the company’s share price was $180.73, and it changed around $5.65 or 3.23% from the last close, which brings the market valuation of the company to $844.11B. AVGO currently trades at a discount to its 52-week high of $185.16, offering almost -2.45% off that amount. The share price’s 52-week low was $81.83, which indicates that the current value has risen by an impressive 54.72% since then. We note from Broadcom Inc’s average daily trading volume that its 10-day average is 18.39 million shares, with the 3-month average coming to 29.08 million.
Broadcom Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.46. If we narrow it down even further, the data shows that 0 out of 29 analysts rate the stock as a Sell; another 10 rate it as Overweight. Among the rest, 2 recommended AVGO as a Hold, whereas 17 deemed it a Buy, and 0 rated it as Underweight. Broadcom Inc is expected to report earnings per share of 1.38 for the current quarter.
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Broadcom Inc (NASDAQ:AVGO) trade information
Instantly AVGO has showed a green trend with a performance of 3.23% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 181.60 on recent trading dayincreased the stock’s daily price by 0.48%. The company’s shares are currently up 61.91% year-to-date, but still up 7.92% over the last five days. On the other hand, Broadcom Inc (NASDAQ:AVGO) is 28.34% up in the 30-day period. We can see from the shorts that 55.65 million shares have been sold at a short interest cover period of 1.97 day(s).
The consensus price target as assigned by Wall Street analysts is $190, which translates to bulls needing to increase their stock price by 4.88% from its current value. Analyst projections state that AVGO is forecast to be at a low of $58 and a high of $240.
Broadcom Inc (AVGO) estimates and forecasts
Broadcom Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 35.47 percent over the past six months and at a 13.95% annual growth rate that is well above the industry average of -4.10%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 24.30% in revenue this quarter, and will report an increase of 32.70% in the next quarter. The year-over-year growth rate is expected to be 44.10%, up from the previous year.
Consensus estimates provided by 29 financial analysts predict the company will bring in an average of 14.04B in revenue for the current quarter. 26 analysts expect Broadcom Inc to make 14.63B in revenue for the current ending quarter. Analysts predict that the company’s current quarter sales will jump, forecast at 51.00%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 2.37%. Broadcom Inc earnings are expected to increase by 14.52% in 2024, but the outlook is positive 19.88% per year for the next five years.
AVGO Dividends
Broadcom Inc’s next quarterly earnings report is expected to be released in November. The annual dividend yield of the stock is 9.01 percent and its annual dividend per share was 16.28. It is important to note, however, that the 9.01% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision. The average dividend yield for the past five years averaged 2.77 per year.
Broadcom Inc (NASDAQ:AVGO)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 2.02% of Broadcom Inc shares, and 79.18% of them are in the hands of institutional investors. The stock currently has a share float of 80.81%. Broadcom Inc stock is held by 4166.0 institutions, with VANGUARD GROUP INC being the largest institutional investor. By 2024-06-30, it held 9.6389% of the shares, which is about 44.82 million shares worth $71.96 billion.
BLACKROCK INC., with 7.3549% or 34.2 million shares worth $54.91 billion as of 2024-06-30, holds the second largest percentage of outstanding shares.
