Broadcom Surges 9.0% Today - Is There Still Upside?

After this evening's 9.0% surge to $1029.24 per share, Broadcom might just keep moving past its target price of $982.82. With an average analyst rating of buy, and target prices from $815.8 to $1113.72, the stock's next move is anyone's guess.

The stock has an average amount of shares sold short at 2.3%, and a short ratio of 3.54. The company's insiders own 2.25% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that a significant number of institutional investors are invested in the stock, with 84.0% of Broadcom's shares being owned by this investor type.

Institutions Invested in Broadcom

Date Reported Holder Percentage Shares Value
2023-09-30 Vanguard Group Inc 10% 40,258,013 $41,435,156,906
2023-09-30 Blackrock Inc. 8% 31,508,933 $32,430,253,893
2023-09-30 Capital World Investors 7% 28,312,734 $29,140,598,065
2023-09-30 Capital International Investors 5% 22,324,657 $22,977,429,752
2023-09-30 Capital Research Global Investors 4% 18,042,406 $18,569,965,775
2023-09-30 State Street Corporation 4% 16,553,386 $17,037,406,844
2023-09-30 Geode Capital Management, LLC 2% 8,687,046 $8,941,055,140
2023-09-30 Bank of America Corporation 2% 7,601,731 $7,824,005,540
2023-09-30 Morgan Stanley 1% 5,920,600 $6,093,718,286
2023-09-30 Charles Schwab Investment Management, Inc. 1% 5,293,891 $5,448,684,321

Besides an analyst consensus of little upside potential, other market factors point to there being positive market sentiment on Broadcom.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.