BidaskClub lowered shares of Broadcom (NASDAQ:AVGO) from a sell rating to a strong sell rating in a research report report published on Thursday, BidAskClub reports.

A number of other analysts also recently commented on AVGO. Zacks Investment Research downgraded Broadcom from a hold rating to a sell rating in a research report on Tuesday, March 19th. ValuEngine upgraded Broadcom from a hold rating to a buy rating in a research report on Thursday, April 18th. UBS Group raised their price objective on Broadcom from $300.00 to $325.00 and gave the stock a buy rating in a research report on Tuesday, May 14th. Argus reiterated a buy rating and issued a $350.00 price objective on shares of Broadcom in a research report on Monday, March 18th. Finally, Rosenblatt Securities reiterated a buy rating and issued a $350.00 price objective on shares of Broadcom in a research report on Friday, March 15th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-eight have assigned a buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $305.34.

Shares of AVGO stock opened at $251.64 on Thursday. The company has a quick ratio of 1.14, a current ratio of 1.27 and a debt-to-equity ratio of 1.47. Broadcom has a 12 month low of $197.46 and a 12 month high of $323.20. The company has a market capitalization of $101.58 billion, a price-to-earnings ratio of 13.36, a PEG ratio of 1.20 and a beta of 0.68.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, March 14th. The semiconductor manufacturer reported $5.55 EPS for the quarter, topping the Zacks’ consensus estimate of $4.32 by $1.23. Broadcom had a return on equity of 30.31% and a net margin of 30.50%. The company had revenue of $5.79 billion during the quarter, compared to the consensus estimate of $5.83 billion. During the same quarter last year, the company earned $5.12 EPS. The company’s quarterly revenue was up 8.6% on a year-over-year basis. On average, equities research analysts forecast that Broadcom will post 17.65 EPS for the current year.

In related news, CFO Thomas H. Krause sold 14,494 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $295.45, for a total transaction of $4,282,252.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Hock E. Tan sold 20,000 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $291.27, for a total value of $5,825,400.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 87,824 shares of company stock valued at $26,390,919. 3.30% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in AVGO. Oregon Public Employees Retirement Fund increased its holdings in Broadcom by 26,295.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 11,950,143 shares of the semiconductor manufacturer’s stock valued at $47,000 after purchasing an additional 11,904,869 shares in the last quarter. Norges Bank acquired a new stake in Broadcom during the 4th quarter valued at $1,055,582,000. Macquarie Group Ltd. increased its holdings in Broadcom by 2,301.1% during the 1st quarter. Macquarie Group Ltd. now owns 2,695,558 shares of the semiconductor manufacturer’s stock valued at $810,582,000 after purchasing an additional 2,583,296 shares in the last quarter. Vanguard Group Inc increased its holdings in Broadcom by 6.6% during the 3rd quarter. Vanguard Group Inc now owns 33,632,811 shares of the semiconductor manufacturer’s stock valued at $8,298,223,000 after purchasing an additional 2,094,847 shares in the last quarter. Finally, Voya Investment Management LLC increased its holdings in Broadcom by 141.3% during the 1st quarter. Voya Investment Management LLC now owns 1,147,023 shares of the semiconductor manufacturer’s stock valued at $344,921,000 after purchasing an additional 671,720 shares in the last quarter. 84.41% of the stock is owned by hedge funds and other institutional investors.

Broadcom Company Profile

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.

Recommended Story: Fundamental Analysis – How It Helps Investors

Analyst Recommendations for Broadcom (NASDAQ:AVGO)

Receive News & Ratings for Broadcom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadcom and related companies with MarketBeat.com's FREE daily email newsletter.