Broadcom Ltd (NASDAQ:AVGO) has been assigned a consensus recommendation of “Buy” from the thirty-nine brokerages that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirty-three have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $302.90.

AVGO has been the topic of a number of recent research reports. Vetr downgraded Broadcom from a “buy” rating to a “hold” rating and set a $290.34 price objective on the stock. in a research report on Monday, November 27th. Nomura upped their price objective on Broadcom to $330.00 and gave the company a “buy” rating in a research report on Friday, December 8th. Mizuho upped their price objective on Broadcom from $290.00 to $310.00 and gave the company a “buy” rating in a research report on Thursday, December 7th. BidaskClub upgraded Broadcom from a “strong sell” rating to a “sell” rating in a research report on Wednesday. Finally, Zacks Investment Research downgraded Broadcom from a “buy” rating to a “hold” rating in a research report on Wednesday.

In other Broadcom news, insider Hock E. Tan sold 20,000 shares of the stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $260.03, for a total transaction of $5,200,600.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Thomas H. Krause sold 2,595 shares of the stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $267.34, for a total value of $693,747.30. The disclosure for this sale can be found here. Insiders have sold a total of 86,674 shares of company stock worth $22,659,390 in the last ninety days. Insiders own 3.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in AVGO. Janus Henderson Group PLC boosted its position in Broadcom by 80.3% during the 3rd quarter. Janus Henderson Group PLC now owns 3,397,443 shares of the semiconductor manufacturer’s stock valued at $823,980,000 after acquiring an additional 1,512,956 shares in the last quarter. Egerton Capital UK LLP boosted its position in Broadcom by 112.8% during the 3rd quarter. Egerton Capital UK LLP now owns 1,493,024 shares of the semiconductor manufacturer’s stock valued at $362,118,000 after acquiring an additional 791,460 shares in the last quarter. Koch Industries Inc. purchased a new stake in shares of Broadcom during the 2nd quarter valued at $627,000. Asset Management One Co. Ltd. lifted its holdings in shares of Broadcom by 5,482.5% during the 3rd quarter. Asset Management One Co. Ltd. now owns 604,530 shares of the semiconductor manufacturer’s stock valued at $146,624,000 after purchasing an additional 593,701 shares during the last quarter. Finally, Jennison Associates LLC lifted its holdings in shares of Broadcom by 8.1% during the 4th quarter. Jennison Associates LLC now owns 5,583,858 shares of the semiconductor manufacturer’s stock valued at $1,434,493,000 after purchasing an additional 418,420 shares during the last quarter. 88.54% of the stock is currently owned by institutional investors and hedge funds.

Shares of Broadcom (AVGO) opened at $229.57 on Tuesday. Broadcom has a 52-week low of $202.61 and a 52-week high of $285.68. The company has a debt-to-equity ratio of 0.75, a quick ratio of 5.68 and a current ratio of 6.26. The stock has a market capitalization of $97,278.90, a P/E ratio of 53.89, a price-to-earnings-growth ratio of 0.99 and a beta of 0.88.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Wednesday, December 6th. The semiconductor manufacturer reported $4.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.52 by $0.07. Broadcom had a return on equity of 28.64% and a net margin of 10.18%. The business had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.84 billion. During the same period in the prior year, the business posted $3.47 earnings per share. The company’s quarterly revenue was up 17.1% compared to the same quarter last year. equities research analysts predict that Broadcom will post 17.41 EPS for the current year.

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About Broadcom

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 (NASDAQ:AVGO)

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