Shares of Broadcom rose to $1092.19 during today's afternoon trading session. Despite the 1.9% change, the large-cap Semiconductors company still trades 10.65% above its average analyst target price of $987.08. So there may be further downside for the Semiconductors stock. Broadcom has target prices ranging from $816.41 to $1161.0 per share, and its average rating is buy.
The stock has a very low short interest at 1.3%, and a short ratio of 1.69. 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 | $43,969,396,859 |
| 2023-09-30 | Blackrock Inc. | 8% | 31,508,933 | $34,413,739,687 |
| 2023-09-30 | Capital World Investors | 7% | 28,312,734 | $30,922,883,288 |
| 2023-09-30 | Capital International Investors | 5% | 22,324,657 | $24,382,765,820 |
| 2023-09-30 | Capital Research Global Investors | 4% | 18,042,406 | $19,705,734,351 |
| 2023-09-30 | State Street Corporation | 4% | 16,553,386 | $18,079,441,685 |
| 2023-09-30 | Geode Capital Management, LLC | 2% | 8,687,046 | $9,487,904,261 |
| 2023-09-30 | Bank of America Corporation | 2% | 7,601,731 | $8,302,534,135 |
| 2023-09-30 | Morgan Stanley | 1% | 5,920,600 | $6,466,419,767 |
| 2023-09-30 | Charles Schwab Investment Management, Inc. | 1% | 5,293,891 | $5,781,934,501 |
Besides an analyst belief that shares are overpriced, other market factors point to there being positive market sentiment on Broadcom.
