Broadcom (NASDAQ:AVGO)‘s stock had its “buy” rating reiterated by analysts at Oppenheimer in a research note issued to investors on Friday.
AVGO has been the subject of several other reports. B. Riley reiterated an “avgo (” rating and issued a $305.00 target price on shares of Broadcom in a research report on Monday, August 21st. Deutsche Bank upped their target price on shares of Broadcom from $275.00 to $295.00 and gave the stock a “buy” rating in a research report on Friday, August 25th. Bank of America reiterated a “buy” rating and issued a $300.00 target price on shares of Broadcom in a research report on Friday, August 25th. Jefferies Group reiterated a “buy” rating and issued a $286.00 target price (up from $270.00) on shares of Broadcom in a research report on Friday, August 25th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $270.00 target price on shares of Broadcom in a research report on Wednesday, August 23rd. Four investment analysts have rated the stock with a hold rating, thirty-two have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $303.13.
Broadcom (AVGO) traded down $2.69 on Friday, hitting $259.34. 3,759,300 shares of the stock were exchanged, compared to its average volume of 2,811,623. The stock has a market cap of $106,902.84, a price-to-earnings ratio of 18.20, a P/E/G ratio of 1.12 and a beta of 1.05. The company has a debt-to-equity ratio of 0.75, a current ratio of 6.39 and a quick ratio of 5.80. Broadcom has a 12-month low of $173.31 and a 12-month high of $285.68.
Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Wednesday, December 6th. The semiconductor manufacturer reported $4.59 EPS for the quarter, beating analysts’ consensus estimates of $4.52 by $0.07. The firm had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.84 billion. Broadcom had a net margin of 10.18% and a return on equity of 28.61%. The business’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same period in the previous year, the business earned $3.47 EPS. research analysts forecast that Broadcom will post 16.99 earnings per share for the current year.
In other Broadcom news, insider Hock E. Tan sold 20,000 shares of the company’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $247.83, for a total value of $4,956,600.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 transaction of $2,406,200.00. The disclosure for this sale can be found here. Insiders have sold 53,389 shares of company stock worth $13,462,476 in the last quarter. 3.60% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Alps Advisors Inc. purchased a new stake in shares of Broadcom during the second quarter valued at approximately $221,000. Highstreet Asset Management Inc. purchased a new stake in shares of Broadcom during the second quarter valued at approximately $898,000. Ballentine Partners LLC grew its holdings in shares of Broadcom by 19.0% during the second quarter. Ballentine Partners LLC now owns 1,163 shares of the semiconductor manufacturer’s stock valued at $289,000 after buying an additional 186 shares during the last quarter. KBC Group NV grew its holdings in shares of Broadcom by 19.1% during the second quarter. KBC Group NV now owns 48,743 shares of the semiconductor manufacturer’s stock valued at $11,359,000 after buying an additional 7,802 shares during the last quarter. Finally, Chartwell Investment Partners LLC grew its holdings in shares of Broadcom by 42.4% during the second quarter. Chartwell Investment Partners LLC now owns 27,065 shares of the semiconductor manufacturer’s stock valued at $6,308,000 after buying an additional 8,065 shares during the last quarter. Institutional investors and hedge funds own 88.98% of the company’s stock.
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Broadcom 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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