Broadcom Limited (AVGO) PT Raised to $325.00
Broadcom Limited (NASDAQ:AVGO) had its price objective raised by SunTrust Banks, Inc. to $325.00 in a research note released on Tuesday morning, The Fly reports. They currently have a positive rating on the semiconductor manufacturer’s stock.
Several other equities research analysts have also recently issued reports on AVGO. Vetr cut shares of Broadcom Limited from a strong-buy rating to a buy rating and set a $260.93 target price on the stock. in a research report on Monday, July 10th. Goldman Sachs Group, Inc. (The) reaffirmed a buy rating and set a $285.00 price target on shares of Broadcom Limited in a research report on Wednesday, July 12th. KeyCorp reaffirmed an overweight rating and set a $280.00 price target on shares of Broadcom Limited in a research report on Wednesday, July 12th. Morgan Stanley lifted their price target on shares of Broadcom Limited from $280.00 to $290.00 and gave the company an overweight rating in a research report on Monday, July 17th. Finally, Royal Bank of Canada reaffirmed a buy rating and set a $270.00 price target on shares of Broadcom Limited in a research report on Friday, August 11th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, thirty-one have issued a buy rating and three have issued a strong buy rating to the company’s stock. Broadcom Limited currently has a consensus rating of Buy and a consensus target price of $283.48.
Broadcom Limited (NASDAQ:AVGO) traded down $0.68 on Tuesday, hitting $264.96. 2,033,800 shares of the company traded hands, compared to its average volume of 2,752,515. The company has a debt-to-equity ratio of 0.60, a current ratio of 4.48 and a quick ratio of 3.84. Broadcom Limited has a twelve month low of $160.62 and a twelve month high of $281.80. The firm has a market capitalization of $108,375.66, a PE ratio of 20.08, a PEG ratio of 1.31 and a beta of 1.05.
Broadcom Limited (NASDAQ:AVGO) last released its earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.03 by $0.07. Broadcom Limited had a net margin of 3.12% and a return on equity of 26.82%. The business had revenue of $4.47 billion for the quarter, compared to analysts’ expectations of $4.46 billion. During the same period last year, the company earned $2.89 earnings per share. The company’s quarterly revenue was up 17.5% on a year-over-year basis. research analysts expect that Broadcom Limited will post 13.91 earnings per share for the current year.
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In other news, SVP Bryan Ingram sold 30,000 shares of the company’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $244.01, for a total value of $7,320,300.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Charlie B. Kawwas sold 1,788 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $247.28, for a total value of $442,136.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 81,788 shares of company stock worth $20,054,837. Corporate insiders own 3.60% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. FNY Managed Accounts LLC acquired a new position in shares of Broadcom Limited in the 1st quarter valued at about $100,000. AllSquare Wealth Management LLC acquired a new position in shares of Broadcom Limited in the 3rd quarter valued at about $113,000. Mountain Capital Investment Advisors Inc acquired a new position in shares of Broadcom Limited in the 2nd quarter valued at about $113,000. Shine Investment Advisory Services Inc. acquired a new position in shares of Broadcom Limited in the 2nd quarter valued at about $116,000. Finally, Archford Capital Strategies LLC increased its holdings in shares of Broadcom Limited by 45.4% in the 1st quarter. Archford Capital Strategies LLC now owns 538 shares of the semiconductor manufacturer’s stock valued at $118,000 after purchasing an additional 168 shares during the period. Institutional investors own 89.90% 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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