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.
