Broadcom (AVGO) Sets New 1-Year High at $311.10
Broadcom Inc (NASDAQ:AVGO) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $311.10 and last traded at $309.29, with a volume of 789987 shares trading hands. The stock had previously closed at $315.71.
AVGO has been the topic of several recent research reports. DA Davidson upped their price target on Broadcom to $325.00 and gave the stock a “buy” rating in a report on Friday, March 15th. MKM Partners upped their price target on Broadcom to $310.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Zacks Investment Research downgraded Broadcom from a “hold” rating to a “sell” rating in a report on Tuesday, March 19th. JPMorgan Chase & Co. upped their price target on Broadcom from $325.00 to $365.00 in a report on Monday, March 18th. Finally, Loop Capital upped their price target on Broadcom to $315.00 and gave the stock a “buy” rating in a report on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirty have given a buy rating to the company. Broadcom currently has a consensus rating of “Buy” and a consensus target price of $303.41.
The firm has a market cap of $122.16 billion, a price-to-earnings ratio of 16.32, a price-to-earnings-growth ratio of 1.47 and a beta of 0.68. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.27 and a quick ratio of 1.14.
In other Broadcom news, insider Hock E. Tan sold 20,000 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $315.07, for a total transaction of $6,301,400.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Thomas H. Krause sold 14,494 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $295.45, for a total value of $4,282,252.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 87,824 shares of company stock worth $26,390,919. 3.30% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of AVGO. Accurate Investment Solutions Inc. purchased a new stake in shares of Broadcom during the fourth quarter worth about $25,000. Ruggie Capital Group bought a new stake in Broadcom in the fourth quarter valued at about $25,000. AlphaOne Investment Services LLC bought a new stake in Broadcom in the fourth quarter valued at about $25,000. First Financial Corp IN bought a new stake in Broadcom in the first quarter valued at about $30,000. Finally, Daiwa SB Investments Ltd. bought a new stake in Broadcom in the first quarter valued at about $30,000. Institutional investors own 86.99% of the company’s stock.
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About Broadcom (NASDAQ:AVGO)
Broadcom Inc designs, develops, and supplies a range of semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.
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