Broadcom Inc (NASDAQ:AVGO) shares, rose in value, with the stock price up by 1.66% to the previous day’s close as strong demand from buyers drove the stock to $1339.43.
Actively observing the price movement in the last trading, the stock closed the session at $1317.50. The value of beta (5-year monthly) was 1.27 whereas the PE ratio was 49.65 over 12-month period. Referring to stock’s 52-week performance, its high was $1438.17, and the low was $601.29. On the whole, AVGO has fluctuated by -0.78% over the past month.
With the market capitalization of Broadcom Inc currently standing at about $620.72 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 30, 2024 – Jun 03, 2024. The company’s Forward Dividend Ratio is 19.70, with its dividend yield at 1.47%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $10.76, which is expected to increase to $12.75 for fiscal year $46.91 and then to about $56.95 by fiscal year 2025. Data indicates that the EPS growth is expected to be 11.00% in 2025, while the next year’s EPS growth is forecast to be 21.40%.
Analysts have estimated the company’s revenue for the quarter at $11.99 billion, with a low estimate of $11.13 billion and a high estimate of $12.43 billion. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $50.36 billion, representing an increase of 40.60% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that AVGO’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 3.45, with the price of AVGO currently trading nearly 2.22% and 4.25% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 54.78, while the 7-day volatility ratio is showing 4.01% which for the 30-day chart, stands at 3.67%. Furthermore, Broadcom Inc (AVGO)’s beta value is 1.27, and its average true range (ATR) is 48.91.
A comparison of Broadcom Inc (AVGO) with its peers suggests the former has fared considerably weaker in the market. AVGO showed an intraday change of 1.66% in last session, and over the past year, it grew by 111.13%%.
Data on historical trading for Broadcom Inc (NASDAQ:AVGO) indicates that the trading volumes over the past 10 days have averaged 2.99 million and over the past 3 months, they’ve averaged 3.06 million. According to company’s latest data on outstanding shares, there are 463.42 million shares outstanding.
Nearly 2.05% of Broadcom Inc’s shares belong to company insiders and institutional investors own 78.21% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 5.53 million shares as on Mar 15, 2024, resulting in a short ratio of 1.54. According to the data, the short interest in Broadcom Inc (AVGO) stood at 1.19% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 5.09 million. The stock has risen by 19.99% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the AVGO stock heading into the next quarter.
