Broadcom Inc (NASDAQ:AVGO) finished Friday with a subtraction of -$1.42 to close at $830.58, a downside of -0.17 percent. An average of 1,626,000 shares of common stock have been traded in the last five days. There was a gain of $1.50 in the past week, and it reached a new high 35 times over the past 12 months. The last 20 days have seen an average of 2,401,760 shares traded, while the 50-day average volume stands at 2,347,720.
AVGO stock has decreased by -6.91% in the last month. The company shares reached their 1-month lowest point of $795.09 on 09/21/23. With the stock rallying to its 52-week high on 08/31/23, shares of the company touched a low of $415.07 and a high of $923.67 in 52 weeks. It has reached a new high 21 times so far this year and achieved 48.55% or $271.45 in price. In spite of this, the price is down -10.08% from the 52-week high.
Insider Transactions
AVGO stock investors should be aware that Broadcom Inc (AVGO) stock had its last reported insider trading activity 18 days ago on Sep 15. In this transaction, the insider spent $1,283,521. CFO & Chief Accounting Officer, Spears Kirsten M., disposed of 6,000 shares at a price of $797.82 on Jun 08. The insider now owns more than $4,786,936 worth of shares. Prior to that, President, Semi Solutions Grp Kawwas Charlie B went on to Sale 1,645 shares at $801.33 each on Jun 08. An amount of $1,318,188 was transacted.
Valuation Metrics
Broadcom Inc (AVGO) has a trailing price-to-earnings (P/E) ratio of 25.63. The stock’s beta is 1.14. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 9.67, the price-to-book (PB) ratio at 15.54, and the price-to-cash flow ratio at 19.73.
The company has a payout ratio of 61.81%. The company’s most recent quarterly dividend payment was $4.60 a share, without any change from last year. Its latest increase dividend $0.50 reported on Thursday December 8 2022.
Financial Health
The quick ratio of Broadcom Inc for the three months ended July 30 was 2.25, and the current ratio was 2.50, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 1.73 and a total debt to equity ratio of 1.78 for the quarter ending July 30. Its gross profit as reported stood at $22.09 billion compared to revenue of $33.2 billion.
Earnings Surprise
For the three-month period that ended July 30, Broadcom Inc had $38.22 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $3.3 billion in the quarter, while revenues of $3.48 billion were grew 9.2%. The analyst consensus anticipated Broadcom Inc’s latest quarter earnings to come in at $10.42 per share, but it turned out to be $10.54, a 1.20% surprise. For the quarter, EBITDA amounted to $4.79 billion. Shareholders own equity worth $412.74 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Broadcom Inc (AVGO) price momentum. RSI 9-day as of the close on 29 September was 45.31%, suggesting the stock is Neutral, with historical volatility in this time frame at 27.14%.
As of today, AVGO’s price is $825.89 +0.18% or $1.50 from its 5-day moving average. AVGO is currently trading -10.00% lower than its 20-day SMA and +32.04% higher than its 100-day SMA. However, the stock’s current price level is -6.50% below the SMA50 and +49.22% above the SMA200.
The stochastic %K and %D were 38.46% and 34.75%, respectively, and the average true range (ATR) was 22.13. With the 14-day stochastic at 43.50% and the average true range at 22.63, the RSI (14) stands at 45.12%. The stock has reached -0.95 on the 9-day MACD Oscillator while the 14-day reading was at -10.50.
Analyst Ratings
TD Cowen reiterated its a Market perform rating on Broadcom Inc (NASDAQ: AVGO), but raised their price target to $800, indicating a potential price decrease of -3.82% for the stock. The consensus rating for Broadcom Inc (AVGO) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell AVGO, while 6 suggest investors hold. There are 1 analyst who rate the stock as underweight. The stock is rated overweight by 4 analysts, while 20 others rate it as a “buy”.
What is AVGO’s price target for the next 12 months?
Analysts predict a range of price targets between $900.00 and $1050.00, with a median target of $997.50. Taking a look at these predictions, the average price target given by analysts for Broadcom Inc (AVGO) stock is $981.41.
