After this afternoon's 4.3% surge to $1729.22 per share, Broadcom might just keep moving past its target price of $1756.64. With an average analyst rating of buy, and target prices from $1397.03 to $2002.4, the stock's next move is anyone's guess.
The stock has a very low short interest at 1.4%, and a short ratio of 1.76. The company's insiders own 2.03% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that an average number of institutional investors are invested in the stock, with 79.7% of Broadcom's shares being owned by this investor type.
Institutions Invested in Broadcom
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2024-03-31 | Vanguard Group Inc | 10% | 44,651,273 | $77,211,872,988 |
| 2024-03-31 | Blackrock Inc. | 8% | 34,907,755 | $60,363,187,078 |
| 2024-03-31 | Capital World Investors | 6% | 25,949,836 | $44,872,974,647 |
| 2024-03-31 | Capital International Investors | 5% | 20,998,978 | $36,311,852,121 |
| 2024-03-31 | State Street Corporation | 4% | 18,198,644 | $31,469,458,644 |
| 2024-03-31 | Capital Research Global Investors | 4% | 17,434,197 | $30,147,561,625 |
| 2024-03-31 | Geode Capital Management, LLC | 2% | 9,524,609 | $16,470,144,095 |
| 2024-03-31 | Bank of America Corporation | 2% | 7,199,637 | $12,449,756,082 |
| 2024-03-31 | JP Morgan Chase & Company | 1% | 6,408,085 | $11,080,988,555 |
| 2024-03-31 | Morgan Stanley | 1% | 6,352,200 | $10,984,351,097 |
Besides an analyst consensus of some upside potential, other market factors point to there being positive market sentiment on Broadcom.
