Broadcom Inc. saw its stock price drop by 0.4% during Friday’s trading session. The company traded as low as $1,715.07 and closed at $1,721.46, with 1,408,783 shares changing hands, a decrease of 56% from the average volume. Wall Street analysts have expressed positive views on Broadcom, with price targets ranging from $1,500.00 to $2,010.00. The stock currently holds a “moderate buy” consensus rating, with analysts expecting continued growth.
The company’s market capitalization stands at $792.87 billion, with a price to earnings ratio of 73.26 and a PEG ratio of 3.00. Broadcom’s performance has been positive, reporting earnings per share above estimates and revenue of $12.49 billion for the last quarter. The company will be undergoing a 10-1 stock split on July 15, with investors receiving new shares after July 12.
Broadcom also recently declared a quarterly dividend of $5.25 per share, reflecting an annualized dividend of $21.00 and a yield of 1.23%. Insiders at Broadcom have made notable moves, with sales of shares worth millions of dollars in recent months. Hedge funds and institutional investors have also been active, increasing their holdings in the company.
Broadcom Inc. is known for its semiconductor devices, focusing on advanced technology solutions. The company operates in two segments: semiconductor solutions and infrastructure software. With positive analyst outlook and strong financial performance, Broadcom continues to be a key player in the tech industry. Investors can stay informed about Broadcom’s latest news and ratings through MarketBeat.com’s daily email newsletter.
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