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Deutsche Bank gives a Buy recommendation for Broadcom Inc (AVGO)

Broadcom Inc’s recent filing unveils that its Chief Legal & Corp Affairs Ofc Brazeal Mark David unloaded Company’s shares for reported $3.29 million on Apr 10 ’24. In the deal valued at $1316.46 per share,2,500 shares were sold. As a result of this transaction, Brazeal Mark David now holds 41,974 shares worth roughly $55.01 million.

Then, PAGE JUSTINE sold 110 shares, generating $145,530 in total proceeds. Upon selling the shares at $1323.00, the Director now owns 3,125 shares.

Before that, Spears Kirsten M. sold 3,000 shares. Broadcom Inc shares valued at $4,029,435 were divested by the CFO & Chief Accounting Officer at a price of $1343.14 per share. As a result of the transaction, Spears Kirsten M. now holds 43,459 shares, worth roughly $56.96 million.

A number of analysts have revised their coverage, including TD Cowen’s analysts, who increased its forecast for the stock in late March from “a Market perform” to “an Outperform”. TD Cowen maintained its rating on March 08, 2024. It rated AVGO as “a Market perform”.

Price Performance Review of AVGO

On Monday, Broadcom Inc [NASDAQ:AVGO] saw its stock fall -2.48% to $1310.69. Over the last five days, the stock has lost -1.90%. Broadcom Inc shares have risen nearly 17.42% since the year began. Nevertheless, the stocks have risen 109.97% over the past one year. While a 52-week high of $1438.17 was reached on 03/04/24, a 52-week low of $601.29 was recorded on 01/05/24. SMA at 50 days reached $1,302.29, while 200 days put it at $1,031.55. A total of 2.43 million shares were traded, compared to the trading of 3.17 million shares in the previous session.

Levels Of Support And Resistance For AVGO Stock

The 24-hour chart illustrates a support level at 1,287.79, which if violated will result in even more drops to 1,264.90. On the upside, there is a resistance level at 1,351.79. A further resistance level may holdings at 1,392.90. The Relative Strength Index (RSI) on the 14-day chart is 48.48, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 8.99, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bearish at 86.41%. Stochastics %K at 46.05% indicates the stock is a holding.

The most recent change occurred on January 23, 2024 when Cantor Fitzgerald began covering the stock and recommended ‘”an Overweight”‘ rating along with a $1300 price target.

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