Broadcom Inc. (NASDAQ: AVGO) witnessed significant trading volume on Tuesday, with 734,090 shares exchanged, marking a 76% decrease from the previous day. The stock closed at $1,597.67, after analysts raised price targets, including Oppenheimer increasing their target to $2,000.00. Mizuho, Barclays, Rosenblatt Securities, and Melius also provided positive ratings and adjusted price targets.
The company’s financials show a current ratio of 1.25, a debt-to-equity ratio of 1.02, and strong market capitalization of $741.06 billion. Broadcom is set to undergo a 10-1 stock split on July 15. In their last quarterly report, Broadcom exceeded earnings estimates, with revenue reaching $12.49 billion. The company announced a quarterly dividend of $5.25 per share, payable on June 28th.
Insider transactions have seen Director Justine’s Page selling shares, and CEO Hock E. Tan also selling a significant amount. Institutions like Stuart Chaussee & Associates Inc. and Legend Financial Advisors Inc. have purchased stakes in Broadcom, with hedge funds owning a significant portion of company shares.
Broadcom specializes in semiconductor devices, with a broad product line focused on digital and mixed-signal CMOS devices and III-V analog products. The company operates in two segments, semiconductor solutions, and infrastructure software. Market analysts have rated Broadcom stock positively, with an average target of $1,673.04.
With Broadcom’s strong financial performance, positive analyst outlook, upcoming stock split, and institutional interest, the company appears to be on a positive trajectory in the semiconductor industry.
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