Broadcom (AVGO) PT Raised to $310.00
Broadcom (NASDAQ:AVGO) had its target price raised by Mizuho from $290.00 to $310.00 in a report issued on Thursday. The brokerage currently has a “buy” rating on the semiconductor manufacturer’s stock. Mizuho’s target price indicates a potential upside of 19.27% from the stock’s current price.
A number of other research firms have also recently commented on AVGO. Vetr cut shares of Broadcom from a “buy” rating to a “hold” rating and set a $290.34 target price for the company. in a research note on Monday, November 27th. Zacks Investment Research upgraded shares of Broadcom from a “sell” rating to a “hold” rating and set a $316.00 price target on the stock in a research report on Monday, November 27th. Drexel Hamilton restated a “buy” rating and set a $302.00 price target on shares of Broadcom in a research report on Monday, November 6th. B. Riley reiterated a “buy” rating and issued a $315.00 target price on shares of Broadcom in a report on Monday, November 20th. Finally, Royal Bank Of Canada reiterated a “buy” rating on shares of Broadcom in a report on Friday, November 3rd. 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 has a consensus rating of “Buy” and a consensus target price of $300.62.
Broadcom (NASDAQ:AVGO) opened at $259.91 on Thursday. The firm has a market cap of $107,661.69, a price-to-earnings ratio of 18.33, a price-to-earnings-growth ratio of 1.20 and a beta of 1.05. The company has a debt-to-equity ratio of 0.75, a current ratio of 6.39 and a quick ratio of 3.84. Broadcom has a fifty-two week low of $173.31 and a fifty-two week high of $285.68.
Broadcom (NASDAQ:AVGO) last released its 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. The business had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.84 billion. Broadcom had a net margin of 10.18% and a return on equity of 28.61%. The company’s quarterly revenue was up 17.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.47 earnings per share. equities research analysts expect that Broadcom will post 16.01 EPS for the current fiscal year.
In related news, SVP Charlie B. Kawwas sold 1,788 shares of the stock in a transaction 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Bryan Ingram sold 10,000 shares of the stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $240.62, for a total transaction of $2,406,200.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 105,177 shares of company stock valued at $26,154,512. Company insiders own 3.60% of the company’s stock.
A number of large investors have recently modified their holdings of AVGO. IFP Advisors Inc lifted its stake in shares of Broadcom by 13.4% in the 2nd quarter. IFP Advisors Inc now owns 2,169 shares of the semiconductor manufacturer’s stock worth $506,000 after acquiring an additional 257 shares during the period. Advisor Partners LLC lifted its stake in shares of Broadcom by 10.0% in the 2nd quarter. Advisor Partners LLC now owns 5,885 shares of the semiconductor manufacturer’s stock worth $1,372,000 after acquiring an additional 537 shares during the period. Pioneer Investment Management Inc. lifted its stake in shares of Broadcom by 2.2% in the 2nd quarter. Pioneer Investment Management Inc. now owns 1,236,209 shares of the semiconductor manufacturer’s stock worth $288,099,000 after acquiring an additional 26,246 shares during the period. Shine Investment Advisory Services Inc. acquired a new stake in shares of Broadcom in the 2nd quarter worth $116,000. Finally, Aveo Capital Partners LLC acquired a new stake in shares of Broadcom in the 2nd quarter worth $1,504,000. Hedge funds and other institutional investors own 88.99% of the company’s stock.
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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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