Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Broadcom Inc. shares valued at $299,666 were sold by Bryant Diane M on Apr 05. At $629.55 per share, Bryant Diane M sold 476 shares. The insider’s holdings dropped to 1,560 shares worth approximately $0.84 million following the completion of this transaction.
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Also, Spears Kirsten M. sold 2,000 shares, netting a total of over 1,272,460 in proceeds. Following the sale of shares at $636.23 each, the insider now holds 34,546 shares.
Before that, Spears Kirsten M. had sold 3,000 shares from its account. In a trade valued at $1,877,565, the VP CFO & Chief Accounting Ofcr traded Broadcom Inc. shares for $625.86 each. Upon closing the transaction, the insider’s holdings decreased to 3,000 shares, worth approximately $19.68 million.
As published in a research note from UBS on March 04, 2022, Broadcom Inc. [AVGO] has been retained to a Buy and the price target has been revised to $690. This represents a 21.94% premium over Wednesday’s closing price. Analysts at Truist resumed the stock at ‘”a Buy”‘ outlook in a report released in early March. As of March 04, 2022, Rosenblatt has reiterated its “Buy” rating for AVGO. Earlier on March 04, 2022, Morgan Stanley resumed its rating. Their recommendation was “an Overweight” for AVGO stock.
Analyzing AVGO’s Price Performance
On Wednesday, Broadcom Inc. [NASDAQ: AVGO] plunged -2.37% to $538.59. The stock’s lowest price that day was $531.04, but it reached a high of $544.71 in the same session. During the last five days, there has been a drop of approximately -2.15%. Over the course of the year, Broadcom Inc. shares have dropped approximately -19.06%. Shares of the company reached a 52-week high of $672.19 on 01/04/22 and a 52-week low of $463.91 on 07/05/22. A 50-day SMA is recorded $518.09, while a 200-day SMA reached $570.70. Nevertheless, trading volume fell to 1.89 million shares from 1.43 million shares the previous day.
Support And Resistance Levels for Broadcom Inc. (AVGO)
According to the 24-hour chart, there is a support level at 531.52, which, if violated, would cause prices to drop to 524.44. In the upper region, resistance lies at 545.19. The next price resistance is at 551.78. RSI (Relative Strength Index) is 52.39 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 4.33, which suggests the price will increase in the coming days. Percent R is at 65.11%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Broadcom Inc. subject to short interest?
Stocks of Broadcom Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.59 million shares to 4.96 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 5.55 million shares. A decline of -11.9% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.34 of the overall float, the days-to-cover ratio (short ratio) decline to 2.34.
Which companies own the most shares of Broadcom Inc. (AVGO)?
According to The Vanguard Group, Inc. filings, the company currently owns 35,719,507 shares, which is about 8.85% of the total AVGO shares outstanding. The investor’s shares have appreciated by 444,100 from its previous 13-F filing of 35275407.0 shares. With the completion of the sale transaction, Capital Research & Management Co’s stake is now worth $17,916,428,799. Capital Research & Management Co reduced a -6.26% interest valued at $16.01 billion while Capital Research & Management Co sold a -629,087 stake. A total of 460,906 shares of Broadcom Inc. were sold by BlackRock Fund Advisors during the quarter, and -282,177 were sold by SSgA Funds Management, Inc. In its current portfolio, Geode Capital Management LLC holds 7,248,023 shares valued at $3.88 billion.
In terms of Broadcom Inc. share price expectations, FactSet research, analysts set an average price target of $677.29 in the next 12 months, up nearly 22.36% from the previous closing price of $551.65. Analysts anticipate Broadcom Inc. stock to reach $780.00 by 2022, with the lowest price target being $600.00. In spite of this, 25 analysts ranked Broadcom Inc. stock as a Buy at the end of 2022. On March 04, 2022, Mizuho assigned a price target of “a Buy” to the stock and reiterated coverage with a $700.