Watch for Continued Gains in Shares of Broadcom Inc.

Broadcom Inc. AVGO traded at a new 12-month high today of $573.88. This new high was reached on below-average trading volume as 174,000 shares traded hands, while the average 30-day volume is approximately 1.6 million shares.

Broadcom Inc. share prices have moved between a 52-week high of $573.88 and a 52-week low of $374.35 and are now trading 53% above that low price at $571.29 per share.

Broadcom–the combined entity of Broadcom and Avago–boasts a highly diverse product portfolio across an array of end markets. Avago focused primarily on radio frequency filters and amplifiers used in high-end smartphones, such as the Apple AAPL iPhone and Samsung Galaxy devices, in addition to an assortment of solutions for wired infrastructure, enterprise storage, and industrial end markets. Legacy Broadcom targeted networking semiconductors, such as switch and physical layer chips, broadband products (such as television set-top box processors), and connectivity chips that handle standards such as Wi-Fi and Bluetooth. The company has acquired Brocade, CA Technologies, and Symantec’s enterprise security business to bolster its offerings in infrastructure software.

Based on a current price of $571.29, Broadcom Inc. is currently 53.2% above its average consensus analyst price target of $267.13.

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