Broadcom (NASDAQ:AVGO)‘s stock had its “outperform” rating reissued by stock analysts at Cowen in a report issued on Friday, Marketbeat.com reports. They presently have a $280.00 price target on the semiconductor manufacturer’s stock, up from their prior price target of $255.00. Cowen’s price target would indicate a potential upside of 22.51% from the company’s previous close.
AVGO has been the subject of a number of other research reports. Piper Jaffray Companies set a $293.00 price target on shares of Broadcom and gave the company a “buy” rating in a research note on Tuesday, September 25th. Zacks Investment Research reiterated a “hold” rating on shares of Broadcom in a research note on Monday, November 12th. Mizuho reiterated a “buy” rating on shares of Broadcom in a research note on Friday, October 5th. JPMorgan Chase & Co. initiated coverage on shares of Broadcom in a research note on Thursday, November 8th. They issued an “overweight” rating and a $325.00 target price for the company. Finally, ValuEngine upgraded shares of Broadcom from a “sell” rating to a “hold” rating in a research note on Saturday, November 10th. Nine research analysts have rated the stock with a hold rating and thirty-four have issued a buy rating to the company’s stock. Broadcom has a consensus rating of “Buy” and a consensus target price of $287.31.
AVGO stock traded up $1.32 during midday trading on Friday, reaching $228.56. 7,827,209 shares of the company’s stock traded hands, compared to its average volume of 4,131,188. The firm has a market capitalization of $95.94 billion, a PE ratio of 15.98, a price-to-earnings-growth ratio of 1.00 and a beta of 1.03. The company has a current ratio of 3.98, a quick ratio of 3.42 and a debt-to-equity ratio of 0.64. Broadcom has a 52 week low of $197.46 and a 52 week high of $274.26.
Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, December 6th. The semiconductor manufacturer reported $5.85 EPS for the quarter, beating the Zacks’ consensus estimate of $5.58 by $0.27. The business had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.40 billion. Broadcom had a net margin of 58.18% and a return on equity of 28.54%. Broadcom’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.59 EPS. On average, equities analysts predict that Broadcom will post 18.09 earnings per share for the current fiscal year.
In related news, insider Hock E. Tan sold 20,000 shares of the business’s stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $238.62, for a total value of $4,772,400.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Kirsten M. Spears sold 1,194 shares of the business’s stock in a transaction dated Friday, September 28th. The stock was sold at an average price of $246.52, for a total transaction of $294,344.88. The disclosure for this sale can be found here. Insiders sold a total of 61,194 shares of company stock worth $14,266,145 over the last three months. 3.30% of the stock is owned by insiders.
Large investors have recently modified their holdings of the stock. Massey Quick Simon & CO. LLC purchased a new stake in Broadcom during the second quarter valued at about $104,000. Zions Bancorporation purchased a new stake in Broadcom during the second quarter valued at about $109,000. MUFG Americas Holdings Corp purchased a new stake in Broadcom during the second quarter valued at about $109,000. First Personal Financial Services purchased a new stake in Broadcom during the second quarter valued at about $126,000. Finally, Avestar Capital LLC purchased a new stake in Broadcom during the second quarter valued at about $126,000. 85.22% of the stock is currently owned by institutional investors.
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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