Broadcom Gains Traction: AVGO Stock Climbs 3.7% Midday Wednesday
NEW YORK, NY – Broadcom Inc (NASDAQ: AVGO) shares showed positive momentum during Wednesday’s afternoon trading session, posting a solid gain and briefly trading above the $200 mark.
As of 1:28 pm Eastern Time on May 1st, the stock was quoted at 199.60 USD. This price reflects an increase of 7.13 USD, or 3.70%, from the previous day’s close of 192.47 USD.
The semiconductor and software company saw its shares open at 198.14 USD. Throughout the session, the stock gained ground, reaching an intraday high of 200.59 USD. The lowest price point touched during the day was 196.24 USD.
Broadcom carries a substantial market capitalization of approximately 938.3 billion USD (93.83KCr), alongside a Price-to-Earnings ratio of 96.25. The company also provides investors with a dividend yield of 1.18%.
The current share price sits well above Broadcom’s 52-week low of 122.33 USD, while still trailing the 52-week high of 251.87 USD. Today’s upward movement indicates positive investor activity surrounding the stock.
