Broadcom's Options: A Look at What the Big Money is Thinking
Portfolio Pulse from Benzinga Insights
Investors are showing a bearish sentiment towards Broadcom (NASDAQ:AVGO) with significant options activity detected. The majority of options trades are bearish, with a focus on a price range between $150 and $230. Analysts maintain positive ratings with price targets around $205-$225.
October 23, 2024 | 2:45 pm
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NEGATIVE IMPACT
Broadcom is experiencing a bearish sentiment from investors, with 58% of options trades being bearish. The stock is currently trading at $178.08, down by 0.72%. Analysts maintain positive ratings with price targets between $205 and $225.
The significant bearish sentiment from options traders suggests a potential short-term decline in Broadcom's stock price. Despite this, analysts maintain positive ratings, indicating a possible divergence between market sentiment and analyst expectations. The current trading price is below the analysts' target range, which could imply a potential undervaluation if the bearish sentiment does not materialize into a prolonged downturn.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100