News Recap: Broadcom Inc. (NASDAQ: AVGO)


On FRIDAY, Broadcom Inc. (NASDAQ: AVGO) noted an up move of 1.28% in most recent trading session with finishing price of $296.59. The company negotiated 2048717 shares compared to an average volume of 2162.17K shares. EPS growth for this year is 187.60% and EPS growth for next year is estimated to reach at 8.77%. EPS growth in past five years was 39.60% while EPS growth in next five years is projected to arrive at 16.05%. Sales growth past 5 years was measured at 52.60%.

Broadcom Inc. (AVGO) recently reported that it has completed its acquisition of the Enterprise Security business of Symantec Corporation (NASDAQ: SYMC).

Symantec’s Enterprise Security business will now operate as the Symantec Enterprise division of Broadcom and will be led by Art Gilliland as SVP and General Manager. Mr. Gilliland most recently served as General Manager of Symantec’s Enterprise Security business where he oversaw the Enterprise Security product and engineering teams, Enterprise Security Worldwide Sales and the Enterprise Security consumer support organization. He brings over 20 years of experience in the security software industry.

“Recently represents an important milestone as Symantec’s Enterprise Security business joins our other semiconductor and software franchises that together form the Broadcom platform,” stated Hock Tan, President and Chief Executive Officer of Broadcom. “Symantec’s Enterprise Security business expands our footprint of mission critical infrastructure software for the Global 2000. We are happy to welcome the talented team of employees at Symantec Enterprise Security to the Broadcom family.”

The Company has 396.67 million shares outstanding and 385.66 million shares were floated in market. The short ratio in the company’s stock is documented at 2.68 and the short float is around of 1.50%. The average true range of the stock is observed at 5.83 and the relative strength index of the stock is recorded at 61.31. ¬†Analyst recommendation for this stock stands at 2.1. The volatility in the previous week has experienced by 1.73% and observed of 1.79% in the previous month. 87.50% ownership is held by institutional investors while insiders hold ownership of 0.10%.