Brokers Set Expectations for Broadcom Limited’s Q1 2018 Earnings (AVGO)
Broadcom Limited (NASDAQ:AVGO) – Equities research analysts at Jefferies Group issued their Q1 2018 earnings per share (EPS) estimates for Broadcom Limited in a report released on Sunday. Jefferies Group analyst M. Lipacis forecasts that the semiconductor manufacturer will post earnings of $3.64 per share for the quarter. Jefferies Group has a “Buy” rating and a $315.00 price objective on the stock. Jefferies Group also issued estimates for Broadcom Limited’s Q2 2018 earnings at $3.34 EPS, Q3 2018 earnings at $3.59 EPS, Q4 2018 earnings at $4.16 EPS and FY2018 earnings at $14.73 EPS.
Other analysts have also recently issued research reports about the company. Cowen and Company reiterated a “buy” rating and set a $260.00 target price on shares of Broadcom Limited in a report on Friday, August 11th. B. Riley restated a “buy” rating and issued a $305.00 price target on shares of Broadcom Limited in a report on Saturday, August 26th. Craig Hallum restated a “buy” rating on shares of Broadcom Limited in a report on Wednesday, September 13th. SunTrust Banks, Inc. upped their price target on Broadcom Limited to $325.00 and gave the stock a “positive” rating in a report on Tuesday. Finally, Robert W. Baird restated an “outperform” rating and issued a $290.00 price target (up previously from $260.00) on shares of Broadcom Limited in a report on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, thirty-one have assigned a buy rating and three have given a strong buy rating to the company’s stock. Broadcom Limited has an average rating of “Buy” and an average price target of $283.48.
Shares of Broadcom Limited (NASDAQ AVGO) traded up $1.08 during trading hours on Wednesday, hitting $272.40. The stock had a trading volume of 2,983,555 shares, compared to its average volume of 3,100,000. 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 Limited has a 1-year low of $160.62 and a 1-year high of $281.80. The stock has a market cap of $111,570.00, a PE ratio of 20.98, a P/E/G ratio of 1.32 and a beta of 1.05.
Broadcom Limited (NASDAQ:AVGO) last issued its earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.03 by $0.07. Broadcom Limited had a return on equity of 26.82% and a net margin of 3.12%. The business had revenue of $4.47 billion during the quarter, compared to analysts’ expectations of $4.46 billion. During the same quarter in the previous year, the business earned $2.89 EPS. The company’s revenue for the quarter was up 17.5% on a year-over-year basis.
Several large investors have recently added to or reduced their stakes in the stock. Harbour Capital Advisors LLC boosted its position in shares of Broadcom Limited by 12.9% in the 3rd quarter. Harbour Capital Advisors LLC now owns 7,419 shares of the semiconductor manufacturer’s stock valued at $1,799,000 after purchasing an additional 850 shares during the period. Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of Broadcom Limited by 4.2% in the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 8,883 shares of the semiconductor manufacturer’s stock valued at $2,154,000 after purchasing an additional 360 shares during the period. Rothschild Asset Management Inc. boosted its position in shares of Broadcom Limited by 191.7% in the 3rd quarter. Rothschild Asset Management Inc. now owns 199,743 shares of the semiconductor manufacturer’s stock valued at $48,446,000 after purchasing an additional 131,273 shares during the period. Greystone Managed Investments Inc. boosted its position in shares of Broadcom Limited by 4.8% in the 3rd quarter. Greystone Managed Investments Inc. now owns 35,709 shares of the semiconductor manufacturer’s stock valued at $8,661,000 after purchasing an additional 1,644 shares during the period. Finally, Rational Advisors LLC boosted its position in shares of Broadcom Limited by 207.8% in the 3rd quarter. Rational Advisors LLC now owns 5,692 shares of the semiconductor manufacturer’s stock valued at $1,381,000 after purchasing an additional 3,843 shares during the period. Institutional investors and hedge funds own 89.90% of the company’s stock.
In related news, insider Hock E. Tan sold 20,000 shares of the stock in a transaction on Friday, September 15th. The stock was sold at an average price of $246.48, for a total value of $4,929,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Bryan Ingram sold 10,000 shares of the stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $240.62, for a total value of $2,406,200.00. The disclosure for this sale can be found here. Insiders have sold 81,788 shares of company stock valued at $20,054,837 in the last ninety days. Company insiders own 3.60% 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.
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