Broadcom Limited (NASDAQ:AVGO)‘s stock had its “buy” rating restated by KeyCorp in a research note issued on Tuesday, October 17th. They currently have a $290.00 price target on the semiconductor manufacturer’s stock. KeyCorp’s price objective would suggest a potential upside of 18.97% from the company’s current price.
Other equities research analysts have also recently issued research reports about the company. Deutsche Bank AG upped their target price on Broadcom Limited from $275.00 to $295.00 and gave the stock a “buy” rating in a research report on Friday, August 25th. Sanford C. Bernstein reissued an “outperform” rating and issued a $285.00 price objective on shares of Broadcom Limited in a research report on Tuesday, October 10th. Vetr cut Broadcom Limited from a “buy” rating to a “hold” rating and set a $261.95 price objective for the company. in a research report on Monday, September 4th. Mizuho reaffirmed a “buy” rating and issued a $290.00 target price on shares of Broadcom Limited in a research report on Sunday, October 8th. Finally, B. Riley reaffirmed an “avgo (” rating and issued a $305.00 target price on shares of Broadcom Limited in a research report on Monday, August 21st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, thirty have issued a buy rating and four have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $277.51.
Shares of Broadcom Limited (NASDAQ:AVGO) traded up 0.81% during trading on Tuesday, hitting $245.73. 800,184 shares of the stock traded hands. The company’s 50 day moving average is $244.73 and its 200 day moving average is $241.09. Broadcom Limited has a 52-week low of $160.62 and a 52-week high of $259.36. The firm has a market cap of $100.25 billion, a PE ratio of 187.15 and a beta of 1.08.
Broadcom Limited (NASDAQ:AVGO) last issued its earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates of $4.03 by $0.07. Broadcom Limited had a return on equity of 26.82% and a net margin of 3.12%. The company had revenue of $4.47 billion for the quarter, compared to the consensus estimate of $4.46 billion. During the same quarter in the prior year, the company earned $2.89 EPS. The firm’s quarterly revenue was up 17.5% on a year-over-year basis. On average, equities research analysts predict that Broadcom Limited will post $15.91 EPS for the current year.
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In other Broadcom Limited news, SVP Bryan Ingram sold 10,000 shares of the company’s stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $240.62, for a total value of $2,406,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Hock E. Tan sold 20,000 shares of the company’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $247.83, for a total value of $4,956,600.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 81,788 shares of company stock valued at $20,054,837. Insiders own 3.60% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. FNY Managed Accounts LLC bought a new stake in shares of Broadcom Limited during the 1st quarter valued at about $100,000. Mountain Capital Investment Advisors Inc bought a new stake in shares of Broadcom Limited during the 2nd quarter valued at about $113,000. Shine Investment Advisory Services Inc. bought a new stake in shares of Broadcom Limited during the 2nd quarter valued at about $116,000. Archford Capital Strategies LLC boosted its position in shares of Broadcom Limited by 45.4% during the 1st quarter. Archford Capital Strategies LLC now owns 538 shares of the semiconductor manufacturer’s stock valued at $118,000 after purchasing an additional 168 shares in the last quarter. Finally, D. Scott Neal Inc. bought a new stake in shares of Broadcom Limited during the 2nd quarter valued at about $127,000. Institutional investors own 89.68% of the company’s stock.
Broadcom Limited Company Profile
Broadcom Limited is a designer, developer and global supplier of a range of semiconductor devices with a focus on digital and mixed signal complementary metal oxide semiconductor (CMOS)-based devices and analog III-V based products. The Company operates through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.
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