Broadcom Limited (AVGO) Given Top Pick Rating at Royal Bank Of Canada
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.
COPYRIGHT VIOLATION WARNING: This article was posted by Daily Political and is owned by of Daily Political. If you are viewing this article on another website, it was illegally stolen and republished in violation of United States and international copyright & trademark law. The correct version of this article can be read at https://www.dailypolitical.com/2017/09/26/broadcom-limited-avgo-given-top-pick-rating-at-royal-bank-of-canada.html.
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.
Receive News & Ratings for Broadcom Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadcom Limited and related companies with MarketBeat.com's FREE daily email newsletter.