Broadcom's Options: A Look at What the Big Money is Thinking
Portfolio Pulse from Benzinga Insights
Broadcom (NASDAQ:AVGO) has seen a bearish sentiment from options traders, with 63% of detected trades being bearish. The trading volume and open interest suggest a price target range of $1000 to $1800. Recent analyst ratings vary, with price targets ranging from $1500 to $1720, despite a slight decrease in AVGO's stock price to $1251.61. The company, a major player in the semiconductor and software industries, is approaching its earnings announcement.
April 19, 2024 | 2:18 pm
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Broadcom has experienced a bearish sentiment in options trading, with a significant portion of trades predicting a downturn. However, analysts have set higher price targets, indicating potential growth.
The bearish sentiment from options traders contrasts with the optimistic price targets from analysts, suggesting uncertainty in the short term. The upcoming earnings announcement could be a pivotal moment for AVGO's stock price direction.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100