At the time of writing, Broadcom Inc [AVGO] stock is trading at $1338.62, down -0.41%. An important factor to consider is whether the stock is rising or falling in short-term value. The AVGO shares have gain 9.32% over the last week, with a monthly amount glided 1.00%, and seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
Broadcom Inc [NASDAQ: AVGO] stock has seen the most recent analyst activity on April 17, 2024, when Barclays reiterated its Overweight rating and also boosted its price target to $1500 from $1405. Previously, Evercore ISI started tracking the stock with Outperform rating on April 16, 2024, and set its price target to $1620. TD Cowen upgraded its rating to a Outperform and increased its price target to $1500 on March 21, 2024. TD Cowen reiterated a Market Perform rating for this stock on March 08, 2024, and upped its price target to $1400. In a note dated January 23, 2024, Cantor Fitzgerald initiated an Overweight rating and provided a target price of $1300 on this stock.
For the past year, the stock price of Broadcom Inc fluctuated between $601.29 and $1438.17. Currently, Wall Street analysts expect the stock to reach $1094.09 within the next 12 months. Broadcom Inc [NASDAQ: AVGO] shares were valued at $1338.62 at the most recent close of the market. An investor can expect a potential drop of -18.27% based on the average AVGO price forecast.
Analyzing the AVGO fundamentals
According to Broadcom Inc [NASDAQ:AVGO], the company’s sales were 38.87B for trailing twelve months, which represents an 34.17% jump. 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 1,325.22 points at the first support level, and at 1,311.81 for the second support level. However, for the 1st resistance point, the stock is sitting at 1,352.50, and for the 2nd resistance point, it is at 1,366.38.
Broadcom Inc [AVGO] reported earnings per share of $10.27 for its fiscal quarter that ended on 1/31/2024. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $9.61/share, meaning a difference of $0.66 and a surprise factor of 6.90%. By comparison, the stated earnings for the previous quarter ended on 10/31/2023 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
It is important to note that Broadcom Inc [NASDAQ:AVGO] has a current ratio of 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 15.96, the price to book ratio is 8.82 and price to earnings (TTM) ratio is 49.62.
Transactions by insiders
Recent insider trading involved Brazeal Mark David, Chief Legal & Corp Affairs Ofc, that happened on Apr 10 ’24 when 2500.0 shares were sold. Director, PAGE JUSTINE completed a deal on Apr 10 ’24 to sell 110.0 shares. Meanwhile, CFO & Chief Accounting Officer Spears Kirsten M. sold 3000.0 shares on Apr 05 ’24.
