Broadcom (NASDAQ:AVGO) had its price target upped by equities researchers at MKM Partners from $255.00 to $280.00 in a research report issued to clients and investors on Friday. The firm presently has a “buy” rating on the semiconductor manufacturer’s stock. MKM Partners’ price target indicates a potential upside of 23.22% from the stock’s previous close.

A number of other research firms have also weighed in on AVGO. Mizuho reiterated a “buy” rating on shares of Broadcom in a research report on Friday, October 5th. Piper Jaffray Companies set a $293.00 price objective on shares of Broadcom and gave the company a “buy” rating in a research report on Tuesday, September 25th. Deutsche Bank lowered their price objective on shares of Broadcom from $310.00 to $300.00 and set a “buy” rating on the stock in a research report on Monday. BidaskClub upgraded shares of Broadcom from a “hold” rating to a “buy” rating in a research report on Friday, September 21st. Finally, ValuEngine upgraded shares of Broadcom from a “sell” rating to a “hold” rating in a research report on Saturday, November 10th. Nine investment analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $287.31.

Shares of AVGO opened at $227.24 on Friday. Broadcom has a 12-month low of $197.46 and a 12-month high of $275.70. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.42 and a current ratio of 3.98. The company has a market cap of $95.94 billion, a PE ratio of 15.89, a price-to-earnings-growth ratio of 1.00 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, December 6th. The semiconductor manufacturer reported $5.85 earnings per share for the quarter, beating analysts’ consensus estimates of $5.58 by $0.27. Broadcom had a net margin of 58.18% and a return on equity of 28.54%. The firm had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same period last year, the firm posted $4.59 EPS. Broadcom’s quarterly revenue was up 12.4% on a year-over-year basis. Analysts anticipate that Broadcom will post 18.09 earnings per share for the current year.

In other news, insider Hock E. Tan sold 20,000 shares of Broadcom stock in a transaction on Thursday, November 15th. The stock was sold at an average price of $228.94, for a total transaction of $4,578,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kirsten M. Spears sold 1,194 shares of Broadcom stock in a transaction on Friday, September 28th. The stock was sold at an average price of $246.52, for a total value of $294,344.88. The disclosure for this sale can be found here. In the last three months, insiders sold 61,194 shares of company stock valued at $14,266,145. 3.30% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in the company. Alps Advisors Inc. acquired a new position in Broadcom in the 2nd quarter valued at about $643,000. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Broadcom in the 2nd quarter valued at about $3,568,000. Integrated Investment Consultants LLC acquired a new position in Broadcom in the 2nd quarter valued at about $203,000. Assetmark Inc. acquired a new position in Broadcom in the 2nd quarter valued at about $241,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Broadcom in the 2nd quarter valued at about $4,422,000. 85.22% of the stock is owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for Broadcom (NASDAQ:AVGO)

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