Broadcom (AVGO) PT Raised to $330.00
Broadcom (NASDAQ:AVGO) had its target price boosted by equities researchers at Nomura to $330.00 in a note issued to investors on Friday. The brokerage presently has a “buy” rating on the semiconductor manufacturer’s stock. Nomura’s target price would indicate a potential upside of 26.97% from the company’s current price.
AVGO has been the subject of a number of other research reports. B. Riley lifted their price objective on shares of Broadcom from $305.00 to $315.00 and gave the company a “buy” rating in a report on Thursday, November 2nd. BMO Capital Markets assumed coverage on shares of Broadcom in a report on Monday, November 20th. They issued an “outperform” rating and a $330.00 price objective for the company. Loop Capital restated a “buy” rating and issued a $302.00 price objective on shares of Broadcom in a report on Friday, August 25th. SunTrust Banks restated a “buy” rating and issued a $281.00 price objective on shares of Broadcom in a report on Thursday, October 12th. Finally, Morgan Stanley reiterated a “buy” rating and set a $290.00 price target on shares of Broadcom in a report on Friday, August 25th. Five analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the stock. Broadcom has a consensus rating of “Buy” and an average price target of $303.13.
Shares of Broadcom (NASDAQ AVGO) opened at $259.91 on Friday. Broadcom has a 12-month low of $173.31 and a 12-month high of $285.68. The firm has a market cap of $106,037.83, a PE ratio of 18.05, a price-to-earnings-growth ratio of 1.18 and a beta of 1.05. The company has a debt-to-equity ratio of 0.75, a quick ratio of 3.84 and a current ratio of 6.39.
Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Wednesday, December 6th. The semiconductor manufacturer reported $4.59 earnings per share for the quarter, beating analysts’ consensus estimates of $4.52 by $0.07. The business had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.84 billion. Broadcom had a net margin of 10.18% and a return on equity of 28.61%. The business’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same period last year, the business earned $3.47 earnings per share. equities research analysts anticipate that Broadcom will post 16.04 EPS for the current year.
In related news, SVP Bryan Ingram sold 10,000 shares of the company’s 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Thomas H. Krause sold 2,595 shares of the business’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $267.34, for a total transaction of $693,747.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 105,177 shares of company stock valued at $26,154,512. 3.60% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Spectrum Management Group Inc. increased its stake in Broadcom by 0.4% in the 2nd quarter. Spectrum Management Group Inc. now owns 2,365 shares of the semiconductor manufacturer’s stock valued at $551,000 after buying an additional 10 shares during the period. Peapack Gladstone Financial Corp increased its stake in Broadcom by 0.5% in the 2nd quarter. Peapack Gladstone Financial Corp now owns 2,158 shares of the semiconductor manufacturer’s stock valued at $503,000 after buying an additional 10 shares during the period. CWA Asset Management Group LLC increased its stake in Broadcom by 0.9% in the 2nd quarter. CWA Asset Management Group LLC now owns 1,917 shares of the semiconductor manufacturer’s stock valued at $447,000 after buying an additional 17 shares during the period. Vestor Capital LLC grew its stake in shares of Broadcom by 0.3% during the 2nd quarter. Vestor Capital LLC now owns 15,051 shares of the semiconductor manufacturer’s stock worth $3,508,000 after purchasing an additional 49 shares during the period. Finally, TRUE Private Wealth Advisors grew its stake in shares of Broadcom by 5.1% during the 2nd quarter. TRUE Private Wealth Advisors now owns 1,426 shares of the semiconductor manufacturer’s stock worth $332,000 after purchasing an additional 69 shares during the period. 88.99% of the stock is currently owned by institutional investors.
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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.
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