Broadcom (NASDAQ:AVGO)‘s stock had its “buy” rating reaffirmed by investment analysts at Oppenheimer in a research report issued on Monday. They presently have a $300.00 price target on the semiconductor manufacturer’s stock, up from their previous price target of $275.00. Oppenheimer’s target price points to a potential upside of 13.68% from the company’s current price.
AVGO has been the subject of a number of other reports. Deutsche Bank upped their target price on Broadcom from $275.00 to $295.00 and gave the company a “buy” rating in a research note on Friday, August 25th. Zacks Investment Research lowered Broadcom from a “hold” rating to a “sell” rating in a research note on Wednesday, October 25th. Sanford C. Bernstein restated an “outperform” rating and issued a $285.00 target price on shares of Broadcom in a research note on Tuesday, October 10th. Vetr lowered Broadcom from a “buy” rating to a “hold” rating and set a $261.95 price objective for the company. in a research note on Monday, September 4th. Finally, Barclays increased their price objective on Broadcom from $290.00 to $300.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 18th. Five research analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. Broadcom presently has an average rating of “Buy” and a consensus price target of $298.73.
Shares of Broadcom (AVGO) remained flat at $$263.89 during trading on Monday. The company had a trading volume of 7,764,386 shares, compared to its average volume of 2,777,329. The stock has a market cap of $106,747.80, a P/E ratio of 19.78, a PEG ratio of 1.26 and a beta of 1.05. The company has a quick ratio of 3.84, a current ratio of 4.48 and a debt-to-equity ratio of 0.60. Broadcom has a 52 week low of $163.67 and a 52 week high of $285.68.
Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Wednesday, December 6th. The semiconductor manufacturer reported $4.59 EPS for the quarter, topping analysts’ consensus estimates of $4.52 by $0.07. Broadcom had a return on equity of 26.82% and a net margin of 3.12%. The company had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.84 billion. During the same period in the previous year, the company earned $3.47 earnings per share. The company’s quarterly revenue was up 17.1% compared to the same quarter last year. analysts predict that Broadcom will post 13.93 earnings per share for the current fiscal year.
In other news, CFO Thomas H. Krause sold 2,595 shares of the business’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $267.34, for a total transaction of $693,747.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Charlie B. Kawwas sold 1,788 shares of the business’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $247.28, for a total value of $442,136.64. The disclosure for this sale can be found here. Insiders sold a total of 104,383 shares of company stock valued at $25,949,184 over the last 90 days. 3.60% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Janus Henderson Group PLC boosted its position in shares of Broadcom by 80.3% during the 3rd quarter. Janus Henderson Group PLC now owns 3,397,443 shares of the semiconductor manufacturer’s stock valued at $823,980,000 after purchasing an additional 1,512,956 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Broadcom by 18.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,704,177 shares of the semiconductor manufacturer’s stock valued at $2,028,442,000 after purchasing an additional 1,338,695 shares in the last quarter. Jennison Associates LLC boosted its position in shares of Broadcom by 26.7% during the 2nd quarter. Jennison Associates LLC now owns 5,345,868 shares of the semiconductor manufacturer’s stock valued at $1,245,855,000 after purchasing an additional 1,128,052 shares in the last quarter. BlackRock Inc. boosted its position in shares of Broadcom by 3.5% during the 2nd quarter. BlackRock Inc. now owns 23,930,917 shares of the semiconductor manufacturer’s stock valued at $5,577,099,000 after purchasing an additional 798,982 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Broadcom by 3.0% during the 2nd quarter. Vanguard Group Inc. now owns 27,561,770 shares of the semiconductor manufacturer’s stock valued at $6,423,271,000 after purchasing an additional 793,335 shares in the last quarter. 88.99% of the stock is owned by institutional investors and hedge funds.
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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