After this afternoon's 7.3% surge to $184.37 per share, Broadcom might just keep moving past its target price of $193.39. With an average analyst rating of buy, and target prices from $155.0 to $240.0, the stock's next move is anyone's guess.
The stock has a very low short interest at 1.6%, and a short ratio of 3.55. The company's insiders own 2.04% 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 79.0% of Broadcom's shares being owned by this investor type.
Institutions Invested in Broadcom
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2024-09-30 | Vanguard Group Inc | 10% | 468,561,399 | $86,384,029,853 |
| 2024-09-30 | Blackrock Inc. | 8% | 356,214,106 | $65,671,670,847 |
| 2024-09-30 | Capital World Investors | 5% | 211,442,543 | $38,981,569,941 |
| 2024-09-30 | Capital International Investors | 4% | 188,722,747 | $34,792,945,909 |
| 2024-09-30 | State Street Corporation | 4% | 184,434,213 | $34,002,311,320 |
| 2024-09-30 | Geode Capital Management, LLC | 2% | 99,188,826 | $18,286,462,616 |
| 2024-09-30 | Capital Research Global Investors | 2% | 92,481,301 | $17,049,862,586 |
| 2024-09-30 | FMR, LLC | 2% | 90,400,508 | $16,666,247,365 |
| 2024-09-30 | Morgan Stanley | 2% | 71,195,954 | $13,125,693,727 |
| 2024-09-30 | Bank of America Corporation | 1% | 68,301,553 | $12,592,081,648 |
Besides an analyst consensus of some upside potential, other market factors point to there being positive market sentiment on Broadcom.
