Credit Suisse Group restated their buy rating on shares of Broadcom (NASDAQ:AVGO) in a research report report published on Wednesday. They currently have a $300.00 price target on the semiconductor manufacturer’s stock.
A number of other analysts also recently commented on AVGO. Barclays initiated coverage on Broadcom in a research report on Tuesday, August 7th. They set an overweight rating and a $265.00 target price on the stock. BidaskClub downgraded Broadcom from a hold rating to a sell rating in a research report on Saturday, August 11th. Bank of America upgraded Broadcom from a neutral rating to a buy rating in a research report on Friday, September 7th. Craig Hallum reiterated a buy rating and set a $300.00 target price (down from $330.00) on shares of Broadcom in a research report on Friday, September 7th. Finally, B. Riley boosted their target price on Broadcom from $245.00 to $250.00 and gave the stock a neutral rating in a research report on Friday, September 7th. Nine analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the stock. Broadcom has a consensus rating of Buy and a consensus target price of $287.24.
AVGO opened at $232.04 on Wednesday. The company has a current ratio of 3.98, a quick ratio of 3.42 and a debt-to-equity ratio of 0.64. The firm has a market cap of $95.94 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 1.00 and a beta of 1.03. Broadcom has a one year low of $197.46 and a one year high of $275.70.
Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, September 6th. The semiconductor manufacturer reported $4.98 EPS for the quarter, topping the Zacks’ consensus estimate of $4.82 by $0.16. The company had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $5.06 billion. Broadcom had a return on equity of 28.54% and a net margin of 58.18%. Broadcom’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the previous year, the business earned $4.10 earnings per share. On average, equities analysts anticipate that Broadcom will post 18.09 earnings per share for the current year.
In related news, insider Kirsten M. Spears sold 1,194 shares of the company’s stock in a transaction on Friday, September 28th. The stock was sold at an average price of $246.52, for a total value of $294,344.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Hock E. Tan sold 20,000 shares of the company’s stock in a transaction on Thursday, November 15th. The shares were sold at an average price of $228.94, for a total value of $4,578,800.00. The disclosure for this sale can be found here. Insiders sold 61,194 shares of company stock valued at $14,266,145 over the last quarter. Insiders own 3.30% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Massey Quick Simon & CO. LLC acquired a new stake in Broadcom during the second quarter worth about $104,000. Zions Bancorporation acquired a new stake in Broadcom during the second quarter worth about $109,000. MUFG Americas Holdings Corp acquired a new stake in Broadcom during the second quarter worth about $109,000. First Personal Financial Services acquired a new stake in Broadcom during the second quarter worth about $126,000. Finally, Avestar Capital LLC acquired a new stake in Broadcom during the second quarter worth about $126,000. Hedge funds and other institutional investors own 85.22% of the company’s stock.
Broadcom Inc designs, develops, and supplies a range of semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.
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