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Broadcom Inc. Looks to Continue to Trade Above its Annual-High Share Price Today

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Shares of Broadcom Inc. (NASDAQ: AVGO) traded today at $521.30, eclipsing its 52-week high. So far today approximately 174,000 shares have been exchanged, as compared to an average 30-day volume of 1.7 million shares.

Over the past year, Broadcom Inc. has traded in a range of $344.42 to $521.30 and is now at $517.31, 50% above that low.

Broadcom – the combined entity of Broadcom and Avago – boasts a highly diverse product portfolio across an array of end markets. Avago focused primarily on radio frequency filters and amplifiers used in high-end smartphones, such as the Apple (NASDAQ: AAPL) iPhone and Samsung Galaxy devices, in addition to an assortment of solutions for wired infrastructure, enterprise storage, and industrial end markets. Legacy Broadcom targeted networking semiconductors, such as switch and physical layer chips, broadband products (such as television set-top box processors), and connectivity chips that handle standards such as Wi-Fi and Bluetooth. The company has acquired Brocade, CA Technologies, and Symantec’s enterprise security business to bolster its offerings in infrastructure software.

Based on a current price of $517.31, Broadcom Inc. is currently 53.4% above its average consensus analyst price target of $241.17.

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