Royal Bank Of Canada restated their top pick rating on shares of Broadcom Limited (NASDAQ:AVGO) in a research note published on Monday. Royal Bank Of Canada currently has a $285.00 price objective on the semiconductor manufacturer’s stock.

AVGO has been the topic of several other research reports. Deutsche Bank AG upped their price objective on shares of Broadcom Limited from $275.00 to $295.00 and gave the company a buy rating in a report on Friday, August 25th. Vetr lowered shares of Broadcom Limited from a buy rating to a hold rating and set a $261.95 price objective on the stock. in a report on Monday, September 4th. Pacific Crest reiterated an overweight rating and set a $260.00 price objective on shares of Broadcom Limited in a report on Wednesday, May 31st. B. Riley reiterated an avgo ( rating and set a $305.00 price objective on shares of Broadcom Limited in a report on Monday, August 21st. Finally, Drexel Hamilton reiterated a buy rating and set a $292.00 price objective on shares of Broadcom Limited in a report on Saturday, August 26th. One research analyst has rated the stock with a hold rating, thirty have issued a buy rating and four have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $276.80.

Shares of Broadcom Limited (NASDAQ AVGO) opened at 235.51 on Monday. The firm has a market cap of $96.08 billion, a P/E ratio of 179.37 and a beta of 1.07. Broadcom Limited has a 52 week low of $160.62 and a 52 week high of $259.36. The company’s 50-day moving average price is $249.11 and its 200 day moving average price is $236.86.

Broadcom Limited (NASDAQ:AVGO) last released its earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.03 by $0.07. The business had revenue of $4.47 billion for the quarter, compared to analyst estimates of $4.46 billion. Broadcom Limited had a net margin of 3.12% and a return on equity of 26.82%. Broadcom Limited’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.89 earnings per share. On average, equities analysts anticipate that Broadcom Limited will post $15.92 earnings per share for the current year.

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The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Tuesday, September 19th will be paid a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date is Monday, September 18th. Broadcom Limited’s payout ratio is currently 348.72%.

In related news, SVP Bryan Ingram sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $244.01, for a total transaction of $7,320,300.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Hock E. Tan sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $246.48, for a total transaction of $4,929,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 51,788 shares of company stock worth $12,692,037 over the last 90 days. 3.60% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in AVGO. FNY Managed Accounts LLC purchased a new stake in Broadcom Limited in the 1st quarter worth approximately $100,000. AllSquare Wealth Management LLC lifted its stake in Broadcom Limited by 38.0% in the 1st quarter. AllSquare Wealth Management LLC now owns 483 shares of the semiconductor manufacturer’s stock worth $106,000 after purchasing an additional 133 shares in the last quarter. Mountain Capital Investment Advisors Inc purchased a new stake in Broadcom Limited in the 2nd quarter worth approximately $113,000. Shine Investment Advisory Services Inc. purchased a new stake in Broadcom Limited in the 2nd quarter worth approximately $116,000. Finally, Archford Capital Strategies LLC lifted its stake in Broadcom Limited by 45.4% in the 1st quarter. Archford Capital Strategies LLC now owns 538 shares of the semiconductor manufacturer’s stock worth $118,000 after purchasing an additional 168 shares in the last quarter. Institutional investors own 89.70% 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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