ValuEngine upgraded shares of Broadcom (NASDAQ:AVGO) from a sell rating to a hold rating in a research note issued to investors on Friday.

Several other equities analysts also recently weighed in on the stock. Mizuho restated a buy rating and set a $280.00 target price on shares of Broadcom in a report on Friday, September 7th. Bank of America upgraded shares of Broadcom from a neutral rating to a buy rating in a report on Friday, September 7th. MKM Partners dropped their target price on shares of Broadcom to $255.00 in a report on Friday, September 7th. BidaskClub upgraded shares of Broadcom from a hold rating to a buy rating in a report on Friday, September 21st. Finally, Barclays initiated coverage on shares of Broadcom in a research note on Tuesday, August 7th. They set an overweight rating and a $265.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating and thirty-one have issued a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $290.02.

NASDAQ:AVGO opened at $237.61 on Friday. The company has a quick ratio of 3.42, a current ratio of 3.98 and a debt-to-equity ratio of 0.64. Broadcom has a twelve month low of $197.46 and a twelve month high of $285.68. The stock has a market cap of $98.24 billion, a price-to-earnings ratio of 13.47, a price-to-earnings-growth ratio of 0.94 and a beta of 0.99.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, September 6th. The semiconductor manufacturer reported $4.98 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.82 by $0.16. Broadcom had a net margin of 58.18% and a return on equity of 28.54%. The firm had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $5.06 billion. During the same period last year, the firm posted $4.10 EPS. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. On average, research analysts forecast that Broadcom will post 18.09 EPS for the current year.

In related news, insider Hock E. Tan sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, October 15th. The shares were sold at an average price of $231.03, for a total value of $4,620,600.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Kirsten M. Spears sold 1,194 shares of the firm’s stock in a transaction that occurred on Friday, September 28th. The stock was sold at an average price of $246.52, for a total transaction of $294,344.88. The disclosure for this sale can be found here. Insiders sold 41,194 shares of company stock worth $9,687,345 over the last three months. Corporate insiders own 3.30% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Massey Quick Simon & CO. LLC acquired a new stake in shares of Broadcom in the second quarter worth approximately $104,000. Zions Bancorporation purchased a new position in Broadcom in the second quarter valued at approximately $109,000. MUFG Americas Holdings Corp purchased a new position in Broadcom in the second quarter valued at approximately $109,000. MUFG Securities EMEA plc purchased a new position in Broadcom in the second quarter valued at approximately $117,000. Finally, First Personal Financial Services purchased a new position in Broadcom in the second quarter valued at approximately $126,000. 85.12% of the stock is currently owned by institutional investors and hedge funds.

About Broadcom

Broadcom Inc designs, develops, and supplies a range of semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Broadcom (NASDAQ:AVGO)

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