Broadcom Limited (NASDAQ:AVGO) was upgraded by research analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Tuesday. The firm presently has a $263.97 price target on the semiconductor manufacturer’s stock. Vetr‘s price objective points to a potential upside of 12.46% from the company’s previous close.

Several other brokerages have also recently issued reports on AVGO. B. Riley reiterated an “avgo (” rating and set a $305.00 target price on shares of Broadcom Limited in a report on Monday, August 21st. DA Davidson restated a “buy” rating and issued a $285.00 price target (up from $250.00) on shares of Broadcom Limited in a report on Saturday, June 3rd. Drexel Hamilton restated a “buy” rating and issued a $280.00 price target (up from $260.00) on shares of Broadcom Limited in a report on Saturday, June 3rd. Mizuho reaffirmed a “buy” rating and issued a $275.00 price objective (up from $265.00) on shares of Broadcom Limited in a research report on Saturday, June 3rd. Finally, Craig Hallum increased their price objective on shares of Broadcom Limited from $260.00 to $290.00 and gave the company a “buy” rating in a research report on Friday, June 2nd. One equities research analyst has rated the stock with a hold rating, thirty have issued a buy rating and four have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $276.80.

Shares of Broadcom Limited (NASDAQ AVGO) opened at 235.59 on Tuesday. The stock’s 50 day moving average is $249.11 and its 200 day moving average is $236.86. Broadcom Limited has a 52-week low of $160.62 and a 52-week high of $259.36. The stock has a market cap of $96.12 billion, a PE ratio of 179.43 and a beta of 1.07.

Broadcom Limited (NASDAQ:AVGO) last announced its earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share for the quarter, beating 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 the consensus estimate of $4.46 billion. During the same quarter in the prior year, the firm posted $2.89 earnings per share. The business’s revenue for the quarter was up 17.5% on a year-over-year basis. Equities research analysts forecast that Broadcom Limited will post $15.92 earnings per share for the current year.

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In other news, SVP Charlie B. Kawwas sold 1,788 shares of the business’s stock in a transaction on 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 available through the SEC website. Also, insider Hock E. Tan sold 20,000 shares of the business’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $246.48, for a total value of $4,929,600.00. The disclosure for this sale can be found here. Insiders have sold 51,788 shares of company stock worth $12,692,037 over the last ninety days. 3.60% of the stock is owned by insiders.

Several institutional investors have recently made changes to their positions in AVGO. BlackRock Inc. raised its position in shares of Broadcom Limited by 2,707.3% during the first quarter. BlackRock Inc. now owns 23,131,935 shares of the semiconductor manufacturer’s stock worth $5,064,971,000 after purchasing an additional 22,307,935 shares during the period. Vanguard Group Inc. raised its position in shares of Broadcom Limited by 7.0% during the first quarter. Vanguard Group Inc. now owns 26,768,435 shares of the semiconductor manufacturer’s stock worth $5,861,217,000 after purchasing an additional 1,746,144 shares during the period. Harbour Capital Advisors LLC raised its position in shares of Broadcom Limited by 22,924.6% during the second quarter. Harbour Capital Advisors LLC now owns 1,530,905 shares of the semiconductor manufacturer’s stock worth $6,569,000 after purchasing an additional 1,524,256 shares during the period. Wellington Management Group LLP raised its position in shares of Broadcom Limited by 29.3% during 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 purchasing an additional 1,519,598 shares during the period. Finally, Ameriprise Financial Inc. raised its position in shares of Broadcom Limited by 18.2% during the second quarter. Ameriprise Financial Inc. now owns 8,704,177 shares of the semiconductor manufacturer’s stock worth $2,028,442,000 after purchasing an additional 1,338,695 shares during the period. 89.70% of the stock is currently owned by 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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