Broadcom Inc. (NASDAQ:AVGO) rose 1.85% this week, a trend that has led to both investors and traders taking note of the stock. Over the past one year, the equity price has embarked on a rally that has seen it rise 15.11% and is now up by 10.63% since start of this year. A look at its monthly performance shows that the stock has recorded a 12.14% gain over the past 30 days. Its equity price climbed by 17.71% over the past three months which led to its overall six-month increase to stand at 33.28%.
Experts from research firms are bullish about the near-term performance of Broadcom Inc. with most of them predicting a $291.72 price target on a short-term (12 months) basis. The average price target by the analysts will see a 3.7% rise in the stock and would lead to AVGO’s market cap to surge to $120.19B. The stock has been rated an average 2, which roughly stands towards the bullish end of the spectrum. Reuters looked into the 32 analysts that track Broadcom Inc. (NASDAQ:AVGO) and find out that 8 of them rated it as a Hold. 24 of the 24 analysts rated it as a Buy or a Strong Buy while 0 advised investors to desist from buying the stock or sell it if they already possess it.
A look at AVGO technical analysis shows that its 14-day Relative Strength Index (RSI) is in a neutral zone after reaching 64.81 point. Its trading volume has lost -1837356 shares compared to readings over the past three months as it recently exchanged 1902644 shares. This means there is reduced activity from short-term traders as per session, its average trading volume is 3740000 shares, and this is 0.51 times the normal volume.
Analysts have predicted a price target for Cree, Inc. (CREE) for 1 year and it stands at an average $51.89/share. This means that it would likely increase by -0.29% from its current position. The current price of the stock has been moving between $51.47 and $52.46. Some brokerage firms have a lower target for the stock than the average, with one of them setting a price target as low as $36. On the other hand, one analyst is super bullish about the price, setting a target as high as $61.
The CREE stock Stochastic Oscillator (%D) is at 75.12%, which means that it is currently neutral. The shares P/S ratio stands at 3.37 which compares to the 11.24 recorded by the industry or the 133.4 by the wider sector. The stock currently has an estimated price-earnings (P/E) multiple of 40.28, which is higher than the 0 multiple of 12-month price-earnings (P/E). The company’s earnings have gone down, with a quarterly decrease rate of -43.8% over the past five years.
Analysts view Cree, Inc. (NASDAQ:CREE) as a Hold, with 2.5 consensus rating. Reuters surveyed 9 analysts that follow CREE and found that 4 of those analysts rated the stock as a Hold. The remaining 5 were divided, with 5 analyst rating it as a Buy or a Strong Buy while 0 analysts advised investors to desist from buying Cree, Inc. (CREE) shares or sell it if they already own it.