Oppenheimer Holdings, Inc. reaffirmed their buy rating on shares of Broadcom Limited (NASDAQ:AVGO) in a research report sent to investors on Friday morning. Oppenheimer Holdings, Inc. currently has a $275.00 price target on the semiconductor manufacturer’s stock.

A number of other research analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Broadcom Limited from a buy rating to a hold rating in a research report on Tuesday, May 2nd. Instinet restated a buy rating and issued a $260.00 price target (up from $230.00) on shares of Broadcom Limited in a report on Wednesday, May 17th. Royal Bank Of Canada reaffirmed a top pick rating and issued a $250.00 price objective on shares of Broadcom Limited in a research note on Tuesday, May 23rd. Morgan Stanley reaffirmed an overweight rating and issued a $265.00 price objective (up from $245.00) on shares of Broadcom Limited in a research note on Thursday, May 25th. Finally, Mizuho reaffirmed a buy rating and issued a $265.00 price objective (up from $250.00) on shares of Broadcom Limited in a research note on Sunday, May 28th. Two analysts have rated the stock with a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $268.40.

Broadcom Limited (NASDAQ:AVGO) opened at 243.25 on Friday. Broadcom Limited has a one year low of $158.75 and a one year high of $259.36. The company has a market capitalization of $99.00 billion, a PE ratio of 185.26 and a beta of 1.05. The stock’s 50 day moving average is $249.87 and its 200 day moving average is $232.19.

Broadcom Limited (NASDAQ:AVGO) last released its earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 EPS for the quarter, topping the consensus estimate of $4.03 by $0.07. The firm had revenue of $4.47 billion for the quarter, compared to the consensus estimate of $4.46 billion. Broadcom Limited had a net margin of 3.12% and a return on equity of 27.01%. The company’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.89 earnings per share. On average, analysts anticipate that Broadcom Limited will post $15.90 earnings per share for the current fiscal year.

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In other news, insider Kirsten M. Spears sold 1,306 shares of Broadcom Limited stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $254.15, for a total transaction of $331,919.90. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Bryan Ingram sold 10,000 shares of Broadcom Limited stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $244.59, for a total value of $2,445,900.00. The disclosure for this sale can be found here. Insiders sold a total of 41,306 shares of company stock worth $10,380,120 over the last 90 days. Insiders own 3.60% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Broadcom Limited by 3.0% in the second quarter. Vanguard Group Inc. now owns 27,561,770 shares of the semiconductor manufacturer’s stock worth $6,423,271,000 after buying an additional 793,335 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Broadcom Limited by 3.5% in the second quarter. BlackRock Inc. now owns 23,930,917 shares of the semiconductor manufacturer’s stock worth $5,577,099,000 after buying an additional 798,982 shares in the last quarter. State Street Corp boosted its stake in shares of Broadcom Limited by 1.6% in the second quarter. State Street Corp now owns 16,060,697 shares of the semiconductor manufacturer’s stock worth $3,742,946,000 after buying an additional 255,044 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Broadcom Limited by 18.2% in the second quarter. Ameriprise Financial Inc. now owns 8,704,177 shares of the semiconductor manufacturer’s stock worth $2,028,442,000 after buying an additional 1,338,695 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Broadcom Limited by 29.3% in the first quarter. Wellington Management Group LLP now owns 6,710,760 shares of the semiconductor manufacturer’s stock worth $1,469,388,000 after buying an additional 1,519,598 shares in the last quarter. 90.03% of the stock is owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Broadcom Limited (NASDAQ:AVGO)

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