Broadcom Limited (NASDAQ:AVGO)‘s stock had its “buy” rating reissued by analysts at Bank of America Corporation in a report issued on Friday. They presently have a $300.00 price target on the semiconductor manufacturer’s stock. Bank of America Corporation’s price objective indicates a potential upside of 22.11% from the stock’s previous close.

AVGO has been the topic of a number of other research reports. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $285.00 price objective on shares of Broadcom Limited in a research note on Wednesday, July 12th. Raymond James Financial, Inc. restated a “strong-buy” rating and set a $300.00 target price on shares of Broadcom Limited in a report on Friday, June 16th. Loop Capital restated a “buy” rating and set a $302.00 target price on shares of Broadcom Limited in a report on Friday, August 25th. Morgan Stanley restated a “buy” rating and set a $290.00 target price on shares of Broadcom Limited in a report on Friday, August 25th. Finally, KeyCorp restated an “overweight” rating and set a $280.00 target price on shares of Broadcom Limited in a report on Wednesday, July 12th. One analyst has rated the stock with a hold rating, thirty have issued a buy rating and four have issued a strong buy rating to the company’s stock. Broadcom Limited has a consensus rating of “Buy” and a consensus target price of $276.80.

Shares of Broadcom Limited (NASDAQ AVGO) opened at 245.74 on Friday. The stock’s 50 day moving average price is $245.93 and its 200 day moving average price is $238.37. The stock has a market cap of $100.26 billion, a price-to-earnings ratio of 187.16 and a beta of 1.08. Broadcom Limited has a 52 week low of $160.62 and a 52 week high of $259.36.

Broadcom Limited (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, August 24th. The semiconductor manufacturer reported $4.10 EPS for the quarter, beating the Zacks’ consensus estimate of $4.03 by $0.07. Broadcom Limited had a net margin of 3.12% and a return on equity of 26.82%. The business had revenue of $4.47 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same quarter last year, the business earned $2.89 earnings per share. The business’s revenue for the quarter was up 17.5% on a year-over-year basis. Equities research analysts anticipate that Broadcom Limited will post $15.91 EPS for the current fiscal year.

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In related news, SVP Bryan Ingram sold 10,000 shares of Broadcom Limited 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Hock E. Tan sold 20,000 shares of Broadcom Limited stock in a transaction on Friday, September 15th. The stock was 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 sold a total of 61,788 shares of company stock worth $15,098,237 in the last quarter. Insiders own 3.60% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Peapack Gladstone Financial Corp increased its holdings in shares of Broadcom Limited by 0.4% during the 1st quarter. Peapack Gladstone Financial Corp now owns 2,148 shares of the semiconductor manufacturer’s stock worth $470,000 after purchasing an additional 9 shares during the period. Spectrum Management Group Inc. increased its holdings in shares of Broadcom Limited by 0.4% during the 2nd quarter. Spectrum Management Group Inc. now owns 2,365 shares of the semiconductor manufacturer’s stock worth $551,000 after purchasing an additional 10 shares during the period. Private Trust Co. NA increased its holdings in shares of Broadcom Limited by 0.7% during the 2nd quarter. Private Trust Co. NA now owns 1,977 shares of the semiconductor manufacturer’s stock worth $460,000 after purchasing an additional 13 shares during the period. IHT Wealth Management LLC increased its holdings in shares of Broadcom Limited by 1.4% during the 1st quarter. IHT Wealth Management LLC now owns 1,094 shares of the semiconductor manufacturer’s stock worth $238,000 after purchasing an additional 15 shares during the period. Finally, CWA Asset Management Group LLC increased its holdings in shares of Broadcom Limited by 0.9% during the 2nd quarter. CWA Asset Management Group LLC now owns 1,917 shares of the semiconductor manufacturer’s stock worth $447,000 after purchasing an additional 17 shares during the period. Institutional investors own 89.71% of the company’s stock.

About Broadcom Limited

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 Limited (NASDAQ:AVGO)

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