Broadcom Limited (AVGO) Given Buy Rating at B. Riley
B. Riley restated their buy rating on shares of Broadcom Limited (NASDAQ:AVGO) in a research report sent to investors on Monday. They currently have a $315.00 price target on the semiconductor manufacturer’s stock.
Several other brokerages also recently commented on AVGO. Vetr upgraded Broadcom Limited from a hold rating to a buy rating and set a $261.95 target price for the company in a research note on Monday, August 28th. Royal Bank Of Canada reiterated a buy rating and set a $285.00 target price (up from $270.00) on shares of Broadcom Limited in a research note on Saturday, August 26th. BidaskClub downgraded Broadcom Limited from a strong-buy rating to a buy rating in a research note on Friday, August 11th. Zacks Investment Research downgraded Broadcom Limited from a buy rating to a hold rating in a research note on Thursday, August 17th. Finally, UBS AG reiterated an overweight rating on shares of Broadcom Limited in a research note on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, thirty-two have assigned a buy rating and three have issued a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $286.47.
Broadcom Limited (AVGO) opened at $274.88 on Monday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.84 and a current ratio of 4.48. Broadcom Limited has a one year low of $160.62 and a one year high of $281.80. The company has a market capitalization of $112,150.00, a P/E ratio of 20.55, a PEG ratio of 1.34 and a beta of 1.05.
Broadcom Limited (NASDAQ:AVGO) last issued its earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.03 by $0.07. Broadcom Limited had a return on equity of 26.82% and a net margin of 3.12%. The company had revenue of $4.47 billion during the quarter, compared to the consensus estimate of $4.46 billion. During the same period in the previous year, the company posted $2.89 EPS. The firm’s revenue for the quarter was up 17.5% compared to the same quarter last year. research analysts anticipate that Broadcom Limited will post 13.91 earnings per share for the current fiscal year.
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In related news, SVP Charlie B. Kawwas sold 1,788 shares of the company’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $247.28, for a total transaction of $442,136.64. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Bryan Ingram sold 30,000 shares of the company’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $244.01, for a total value of $7,320,300.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 104,383 shares of company stock worth $25,949,184. 3.60% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in the business. GSA Capital Partners LLP boosted its holdings in Broadcom Limited by 5.7% in the third quarter. GSA Capital Partners LLP now owns 17,928 shares of the semiconductor manufacturer’s stock worth $4,348,000 after acquiring an additional 961 shares in the last quarter. Gofen & Glossberg LLC IL boosted its holdings in Broadcom Limited by 1.5% in the third quarter. Gofen & Glossberg LLC IL now owns 72,608 shares of the semiconductor manufacturer’s stock worth $17,610,000 after acquiring an additional 1,104 shares in the last quarter. Belpointe Asset Management LLC bought a new position in Broadcom Limited in the third quarter worth approximately $660,000. Cetera Advisor Networks LLC boosted its holdings in Broadcom Limited by 14.4% in the third quarter. Cetera Advisor Networks LLC now owns 1,541 shares of the semiconductor manufacturer’s stock worth $373,000 after acquiring an additional 194 shares in the last quarter. Finally, Cetera Advisors LLC bought a new position in Broadcom Limited in the third quarter worth approximately $382,000. Institutional investors and hedge funds own 89.42% 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.
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