Broadcom Limited (NASDAQ:AVGO)‘s stock had its “buy” rating reiterated by equities research analysts at Craig Hallum in a research note issued on Wednesday.

A number of other brokerages have also recently weighed in on AVGO. KeyCorp reissued an “overweight” rating and issued a $280.00 price target on shares of Broadcom Limited in a research report on Wednesday, August 23rd. Rosenblatt Securities reissued a “buy” rating and issued a $270.00 price target on shares of Broadcom Limited in a research report on Wednesday, August 23rd. UBS AG reissued an “overweight” rating on shares of Broadcom Limited in a research report on Thursday, August 24th. Loop Capital reissued a “buy” rating and issued a $302.00 price target on shares of Broadcom Limited in a research report on Friday, August 25th. Finally, Robert W. Baird reissued an “outperform” rating and issued a $290.00 price target (up from $260.00) on shares of Broadcom Limited in a research report on Friday, August 25th. Two research analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Broadcom Limited has an average rating of “Buy” and a consensus price target of $274.48.

Broadcom Limited (NASDAQ:AVGO) opened at 246.92 on Wednesday. Broadcom Limited has a 12-month low of $160.62 and a 12-month high of $259.36. The firm has a market capitalization of $100.74 billion, a price-to-earnings ratio of 188.06 and a beta of 1.07. The stock has a 50 day moving average of $249.05 and a 200 day moving average of $235.79.

Broadcom Limited (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates of $4.03 by $0.07. Broadcom Limited had a net margin of 3.12% and a return on equity of 26.82%. The firm had revenue of $4.47 billion during the quarter, compared to analysts’ expectations of $4.46 billion. During the same period in the previous year, the company earned $2.89 earnings per share. Broadcom Limited’s quarterly revenue was up 17.5% compared to the same quarter last year. Equities research analysts anticipate that Broadcom Limited will post $15.92 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 shares were sold at an average price of $247.28, for a total transaction of $442,136.64. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Bryan Ingram sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $244.59, for a total transaction of $2,445,900.00. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Peapack Gladstone Financial Corp boosted its position in Broadcom Limited by 0.4% during the first quarter. Peapack Gladstone Financial Corp now owns 2,148 shares of the semiconductor manufacturer’s stock worth $470,000 after acquiring an additional 9 shares during the last quarter. Spectrum Management Group Inc. boosted its position in Broadcom Limited by 0.4% during the second quarter. Spectrum Management Group Inc. now owns 2,365 shares of the semiconductor manufacturer’s stock worth $551,000 after acquiring an additional 10 shares during the last quarter. Private Trust Co. NA boosted its position in Broadcom Limited by 0.7% during the second quarter. Private Trust Co. NA now owns 1,977 shares of the semiconductor manufacturer’s stock worth $460,000 after acquiring an additional 13 shares during the last quarter. IHT Wealth Management LLC boosted its position in Broadcom Limited by 1.4% during the first quarter. IHT Wealth Management LLC now owns 1,094 shares of the semiconductor manufacturer’s stock worth $238,000 after acquiring an additional 15 shares during the last quarter. Finally, CWA Asset Management Group LLC boosted its position in Broadcom Limited by 0.9% during the second quarter. CWA Asset Management Group LLC now owns 1,917 shares of the semiconductor manufacturer’s stock worth $447,000 after acquiring an additional 17 shares during the last quarter. Hedge funds and other institutional investors own 90.04% of the company’s stock.

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.

Analyst Recommendations for Broadcom Limited (NASDAQ:AVGO)

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