Broadcom Limited (NASDAQ:AVGO) has been given a $286.00 price objective by Jefferies Group LLC in a research report issued to clients and investors on Wednesday, October 18th. The brokerage presently has a “buy” rating on the semiconductor manufacturer’s stock. Jefferies Group LLC’s price target would suggest a potential upside of 13.09% from the stock’s previous close.
Several other research firms have also recently weighed in on AVGO. Vetr upgraded Broadcom Limited from a “hold” rating to a “buy” rating and set a $261.95 target price for the company in a research note on Monday, August 28th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $285.00 price target (up previously from $270.00) on shares of Broadcom Limited in a research report on Saturday, August 26th. UBS AG reaffirmed a “buy” rating and set a $265.00 price target on shares of Broadcom Limited in a research report on Monday, June 26th. B. Riley reaffirmed a “buy” rating and set a $305.00 price target on shares of Broadcom Limited in a research report on Thursday, August 31st. Finally, BidaskClub lowered Broadcom Limited from a “strong-buy” rating to a “buy” rating in a report on Friday, August 11th. One 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 stock. The company has an average rating of “Buy” and a consensus target price of $277.51.
Broadcom Limited (NASDAQ AVGO) traded up 3.75% on Wednesday, reaching $252.90. 4,475,330 shares of the company’s stock were exchanged. Broadcom Limited has a 52-week low of $160.62 and a 52-week high of $259.36. The firm’s 50 day moving average price is $244.73 and its 200 day moving average price is $241.09. The company has a market cap of $103.18 billion, a PE ratio of 192.61 and a beta of 1.08.
Broadcom Limited (NASDAQ:AVGO) last announced its earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 EPS for the quarter, beating analysts’ consensus estimates of $4.03 by $0.07. The company had revenue of $4.47 billion during the quarter, compared to analysts’ expectations of $4.46 billion. Broadcom Limited had a return on equity of 26.82% and a net margin of 3.12%. Broadcom Limited’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same period last year, the business posted $2.89 EPS. On average, analysts expect that Broadcom Limited will post $15.91 earnings per share for the current year.
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In related news, SVP Charlie B. Kawwas sold 1,788 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $247.28, for a total value of $442,136.64. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Bryan Ingram sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $244.01, for a total value of $7,320,300.00. The disclosure for this sale can be found here. In the last three months, insiders sold 81,788 shares of company stock worth $20,054,837. Company insiders own 3.60% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in AVGO. Waldron LP acquired a new stake in Broadcom Limited in the 1st quarter valued at approximately $302,000. Rafferty Asset Management LLC increased its position in Broadcom Limited by 358.8% in the 1st quarter. Rafferty Asset Management LLC now owns 59,905 shares of the semiconductor manufacturer’s stock valued at $13,117,000 after acquiring an additional 46,847 shares during the period. Jones Financial Companies Lllp increased its position in Broadcom Limited by 65.2% in the 1st quarter. Jones Financial Companies Lllp now owns 9,704 shares of the semiconductor manufacturer’s stock valued at $2,125,000 after acquiring an additional 3,831 shares during the period. Credit Agricole S A increased its position in Broadcom Limited by 4.4% in the 1st quarter. Credit Agricole S A now owns 399,011 shares of the semiconductor manufacturer’s stock valued at $87,367,000 after acquiring an additional 16,962 shares during the period. Finally, Van ECK Associates Corp increased its position in Broadcom Limited by 23.5% in the 1st quarter. Van ECK Associates Corp now owns 162,648 shares of the semiconductor manufacturer’s stock valued at $35,613,000 after acquiring an additional 30,952 shares during the period. 89.68% of the stock is currently owned by institutional investors and hedge funds.
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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