Broadcom (NASDAQ:AVGO) Upgraded by The Goldman Sachs Group, Inc. to Buy

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Broadcom stock has undergone multiple analysts rating changes in the recent past.  Broadcom Upgraded by The Goldman Sachs Group, Inc. on 10/14/2021. In a note to investors, the firm issued a new rating of Buy. The analysts previously had rating of Neutral.

Shares of Broadcom traded up $12.59 on Thursday, reaching $497.60. 1923297 shares of the stock traded hands, compared to its average volume of 1700088. Shares of Broadcom were trading at $497.60 on Thursday. The firm’s 50 day moving average is $490.86 and its 200 day moving average is $471.40.Broadcom has a 12 month low of $490.82 and a 12 month high of $510.70. While on yearly highs and lows, Broadcom’s today has traded high as $499.15 and has touched $490.82 on the downward trend. See More Analyst Rating at: RATING

Broadcom Earnings and What to expect: 

Broadcom last announced its quarterly earnings results on September 1st, 2021. The semiconductor manufacturer reported $6.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.88 by $0.08. The firm had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.76 billion. Its quarterly revenue was up 16.4% on a year-over-year basis. Broadcom has generated $18.45 earnings per share over the last year ($13.48 diluted earnings per share) and currently has a price-to-earnings ratio of 36.9. Earnings for Broadcom are expected to grow by 12.57% in the coming year, from $24.42 to $27.49 per share. Broadcom has not formally confirmed its next earnings publication date, but the company’s estimated earnings date is Thursday, December 9th, 2021 based off prior year’s report dates.

Earnings for Broadcom are expected to grow by 12.57% in the coming year, from $24.42 to $27.49 per share. The P/E ratio of Broadcom is 36.91, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 15.11. The P/E ratio of Broadcom is 36.91, which means that it is trading at a less expensive P/E ratio than the Computer and Technology sector average P/E ratio of about 41.69. Broadcom has a PEG Ratio of 1.32. PEG Ratios above 1 indicate that a company could be overvalued. Broadcom has a P/B Ratio of 8.48. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

Broadcom (NASDAQ:AVGO) Moving Average Technical Analysis

5 day Moving Average is $490.62 And 5 day price change is $3.68 (0.75%)  with average volume for 5 day average is 1,562,280. While technical analysis for average 20 days shows significant difference, 20 day moving average is  $492.82 and 20 day price change is -$9.75 (-1.92%) and average 20 day moving volume is 1,743,420. 50 day moving average is $490.86  and 50 day price change is $9.80 ( 2.01%)  and with average volume for 50 days is : 1,509,496. 200 day moving average is $471.40  and 200 day price change is $68.56 (15.98%)  and with average volume for 200 days is : 1,819,740.

Other owners latest trading in Broadcom :

  • On 10/14/2021 shares held by Ritholtz Wealth Management were 2,615 which equates to market value of $1.27M and appx 0.10% owners of Broadcom
  • On 10/14/2021 shares held by Optas LLC were 3,152 which equates to market value of $1.53M and appx 0.40% owners of Broadcom
  • On 10/14/2021 shares held by Stony Point Wealth Management Inc. were 958 which equates to market value of $0.47M and appx 0.30% owners of Broadcom
  • In total Institutional ownership equates to Institutional Ownership Percentage: 80.28% for Broadcom

See More Analyst Rating at: RATING