Broadcom (NASDAQ:AVGO) had its price target boosted by equities research analysts at Jefferies Financial Group from $314.00 to $341.00 in a research report issued on Friday, The Fly reports. The firm presently has a “buy” rating on the semiconductor manufacturer’s stock. Jefferies Financial Group’s price target suggests a potential upside of 17.47% from the stock’s current price.

Several other brokerages have also recently weighed in on AVGO. DA Davidson upped their price objective on shares of Broadcom to $325.00 and gave the stock a “buy” rating in a research note on Friday. Deutsche Bank decreased their price objective on shares of Broadcom from $310.00 to $300.00 and set a “buy” rating on the stock in a research note on Monday, December 3rd. Credit Suisse Group initiated coverage on shares of Broadcom in a research note on Friday, November 16th. They set an “outperform” rating and a $300.00 price objective on the stock. ValuEngine raised shares of Broadcom from a “sell” rating to a “hold” rating in a research note on Friday, November 16th. Finally, UBS Group decreased their price objective on shares of Broadcom from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Friday, December 7th. Ten research analysts have rated the stock with a hold rating and thirty-one have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $295.36.

Shares of Broadcom stock opened at $290.29 on Friday. The company has a current ratio of 3.90, a quick ratio of 3.41 and a debt-to-equity ratio of 0.66. The stock has a market cap of $106.80 billion, a price-to-earnings ratio of 15.42, a PEG ratio of 1.22 and a beta of 0.67. Broadcom has a 1-year low of $197.46 and a 1-year high of $286.63.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, March 14th. The semiconductor manufacturer reported $5.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.32 by $1.23. The firm had revenue of $5.79 billion for the quarter, compared to analysts’ expectations of $5.83 billion. Broadcom had a net margin of 58.80% and a return on equity of 29.03%. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.12 earnings per share. As a group, equities analysts anticipate that Broadcom will post 18.59 EPS for the current year.

In related news, insider Hock E. Tan sold 20,000 shares of the stock in a transaction that occurred on Tuesday, January 15th. The shares were sold at an average price of $254.99, for a total value of $5,099,800.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Donald Macleod sold 5,223 shares of the stock in a transaction that occurred on Monday, January 7th. The shares were sold at an average price of $233.65, for a total transaction of $1,220,353.95. The disclosure for this sale can be found here. Insiders sold 45,223 shares of company stock worth $11,449,554 over the last 90 days. 3.30% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in AVGO. Capital International Investors lifted its holdings in Broadcom by 504.1% in the third quarter. Capital International Investors now owns 27,509,769 shares of the semiconductor manufacturer’s stock valued at $6,787,485,000 after buying an additional 22,955,578 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in Broadcom by 26,295.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 11,950,143 shares of the semiconductor manufacturer’s stock valued at $47,000 after buying an additional 11,904,869 shares during the period. Norges Bank acquired a new position in Broadcom in the fourth quarter valued at approximately $1,055,582,000. Capital Research Global Investors lifted its holdings in Broadcom by 16.3% in the third quarter. Capital Research Global Investors now owns 25,694,725 shares of the semiconductor manufacturer’s stock valued at $6,339,659,000 after buying an additional 3,608,395 shares during the period. Finally, Morgan Stanley lifted its holdings in Broadcom by 121.7% in the third quarter. Morgan Stanley now owns 4,296,700 shares of the semiconductor manufacturer’s stock valued at $1,060,125,000 after buying an additional 2,358,329 shares during the period. Institutional investors and hedge funds own 83.49% of the company’s stock.

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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