Broadcom Inc. shares on the NASDAQ have been rated a “Moderate Buy” by 28 brokerage firms. Out of these, two analysts suggest holding the stock, while 26 recommend buying it, with an average price target of $1,673.04. Research firms like Jefferies Financial Group, Truist Financial, and Morgan Stanley have raised their target prices for Broadcom, reflecting positive sentiment towards the company.
Broadcom’s recent performance has been stable, with a slight decrease in operations. The company’s shares opened at $1,580.79 on Wednesday, with a 52-week range of $795.09 to $1,851.62. Moreover, Broadcom will undergo a 10-1 split on July 15, benefiting investors. The company’s recent quarterly results showed strong performance, beating earnings expectations with notable revenue growth. Additionally, Broadcom announced a quarterly dividend payout, with an annualized yield of 1.33%.
Insider movements within the company show significant selling activity, with key executives like Mark David Brazeal divesting shares. Institutional investors, however, continue to show interest in Broadcom, with purchases from wealth management firms and advisors. Overall, institutional holdings account for 76.43% of the company’s shares.
Broadcom Inc., a semiconductor manufacturer, specializes in digital and mixed-signal devices, operating globally across various segments. The company’s focus on semiconductor solutions and infrastructure software showcases its commitment to technological advancement and innovation in the industry.
In conclusion, Broadcom’s stock has received positive ratings from analysts, indicating a favorable outlook for investors. The company’s recent financial performance and strategic announcements contribute to its promising future in the semiconductor market. With ongoing developments and investor interest, Broadcom continues to strengthen its position as a key player in the industry.
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https://www.defenseworld.net/2024/06/26/broadcom-inc-nasdaqavgo-given-average-recommendation-of-moderate-buy-by-brokerages.html
