Broadcom Inc (NASDAQ: AVGO)’s stock price has increased by 1.71 compared to its previous closing price of 1303.11. However, the company has seen a 6.64% increase in its stock price over the last five trading sessions. Zacks Investment Research reported 2024-05-07 that The latest trading day saw Broadcom Inc. (AVGO) settling at $1,303.11, representing a -0.55% change from its previous close.
Is It Worth Investing in Broadcom Inc (NASDAQ: AVGO) Right Now?
Broadcom Inc (NASDAQ: AVGO) has a price-to-earnings ratio that is above its average at 49.13x. The stock has a 36-month beta value of 1.19. Opinions on the stock are mixed, with 17 analysts rating it as a “buy,” 10 as “overweight,” 2 as “hold,” and 0 as “sell.”
The public float for AVGO is 453.82M, and at present, short sellers hold a 1.28% of that float. On May 09, 2024, the average trading volume of AVGO was 2.94M shares.
AVGO’s Market Performance
AVGO stock saw a decrease of 6.64% in the past week, with a monthly decline of -0.65% and a quarterly a decrease of 5.43%. The volatility ratio for the week is 2.93%, and the volatility levels for the last 30 days are 3.34% for Broadcom Inc (AVGO). The simple moving average for the past 20 days is 2.68% for AVGO’s stock, with a 24.64% simple moving average for the past 200 days.
Analysts’ Opinion of AVGO
Many brokerage firms have already submitted their reports for AVGO stocks, with Barclays repeating the rating for AVGO by listing it as a “Overweight.” The predicted price for AVGO in the upcoming period, according to Barclays is $1500 based on the research report published on April 17, 2024 of the current year 2024.
Evercore ISI, on the other hand, stated in their research note that they expect to see AVGO reach a price target of $1620. The rating they have provided for AVGO stocks is “Outperform” according to the report published on April 16th, 2024.
Deutsche Bank gave a rating of “Buy” to AVGO, setting the target price at $1500 in the report published on April 08th of the current year.
AVGO Trading at 1.31% from the 50-Day Moving Average
After a stumble in the market that brought AVGO to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -7.84% of loss for the given period.
Volatility was left at 3.34%, however, over the last 30 days, the volatility rate increased by 2.93%, as shares surge +0.23% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +2.25% upper at present.
During the last 5 trading sessions, AVGO rose by +6.64%, which changed the moving average for the period of 200-days by +47.00% in comparison to the 20-day moving average, which settled at $1,290.94. In addition, Broadcom Inc saw 18.73% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at AVGO starting from Brazeal Mark David, who sale 2,500 shares at the price of $1316.46 back on Apr 10 ’24. After this action, Brazeal Mark David now owns 41,974 shares of Broadcom Inc, valued at $3,291,150 using the latest closing price.
PAGE JUSTINE, the Director of Broadcom Inc, sale 110 shares at $1323.00 during a trade that took place back on Apr 10 ’24, which means that PAGE JUSTINE is holding 3,125 shares at $145,530 based on the most recent closing price.
Stock Fundamentals for AVGO
Current profitability levels for the company are sitting at:
- 0.38 for the present operating margin
- 0.65 for the gross margin
The net margin for Broadcom Inc stands at 0.3. The total capital return value is set at 0.09. Equity return is now at value 24.75, with 9.23 for asset returns.
Based on Broadcom Inc (AVGO), the company’s capital structure generated 0.52 points at debt to capital in total, while cash flow to debt ratio is standing at 0.25. The debt to equity ratio resting at 1.08. The interest coverage ratio of the stock is 6.96.
Currently, EBITDA for the company is 20.8 billion with net debt to EBITDA at 3.1. When we switch over and look at the enterprise to sales, we see a ratio of 17.45. The receivables turnover for the company is 7.82for trailing twelve months and the total asset turnover is 0.22. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.33.
Conclusion
To sum up, Broadcom Inc (AVGO) has seen a better performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
