Broadcom Inc [AVGO] stock is trading at $1276.00, up 3.07%. An important factor to consider is whether the stock is rising or falling in short-term value. The AVGO shares have gain 1.44% over the last week, with a monthly amount glided 4.03%, and seem to be holding up well over a long-time horizon.
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On 20, March 2024, Broadcom Extends Leadership in Custom Accelerators and Merchant Networking Solutions for AI Infrastructure. In a post published today on Yahoo Finance, Latest Offerings Advance Broadcom’s Portfolio of Open, Scalable and Power-Efficient Technologies for AI solutions.
From an analyst’s perspective:
Previously, TD Cowen reaffirmed its Market Perform rating on March 08, 2024, and elevated its price target to $1400. On January 23, 2024, Cantor Fitzgerald initiated with a Overweight rating and assigned a price target of $1300 on the stock. Summit Insights upgraded its rating to Buy for this stock on December 08, 2023. In a note dated December 08, 2023, TD Cowen reiterated an Market Perform rating on this stock and boosted its target price from $900 to $1000.
Broadcom Inc [AVGO] stock has fluctuated between $601.29 and $1438.17 over the past year. Currently, Wall Street analysts expect the stock to reach $895.18 within the next 12 months. Broadcom Inc [NASDAQ: AVGO] shares were valued at $1276.00 at the most recent close of the market. An investor can expect a potential drop of -29.84% based on the average AVGO price forecast.
Analyzing the AVGO fundamentals
Broadcom Inc [NASDAQ:AVGO] reported sales of 38.87B for the trailing twelve months, which represents a growth of 34.17%. Gross Profit Margin for this corporation currently stands at 0.65% with Operating Profit Margin at 0.38%, Pretax Profit Margin comes in at 0.32%, and Net Profit Margin reading is 0.3%. To continue investigating profitability, this company’s Return on Assets is posted at 0.07, Equity is 0.34 and Total Capital is 0.09. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 1.08.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 1,239.06 points at the first support level, and at 1,202.13 for the second support level. However, for the 1st resistance point, the stock is sitting at 1,300.46, and for the 2nd resistance point, it is at 1,324.93.
Broadcom Inc [AVGO] reported earnings per share of $10.99 for its fiscal quarter that ended on 1/30/2024. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $10.29/share, meaning a difference of $0.7 and a surprise factor of 6.80%. By comparison, the stated earnings for the previous quarter ended on 10/30/2023 were $11.06 per share as compared to estimates of $10.98 per share, a difference of $0.08 representing a surprise of 0.70%.
Ratios To Look Out For
For context, Broadcom Inc’s Current Ratio is 1.33. On the other hand, the Quick Ratio is 1.24, and the Cash Ratio is 0.58. Considering the valuation of this stock, the price to sales ratio is 15.21, the price to book ratio is 8.41 and price to earnings (TTM) ratio is 47.30.
Transactions by insiders
Recent insider trading involved HARTENSTEIN EDDY W, Director, that happened on Mar 12 ’24 when 3150.0 shares were sold. CFO & Chief Accounting Officer, Spears Kirsten M. completed a deal on Jan 05 ’24 to sell 2500.0 shares. Meanwhile, President and CEO TAN HOCK E sold 20000.0 shares on Dec 21 ’23.
