Broadcom Limited (AVGO) Rating Reiterated by KeyCorp
Broadcom Limited (NASDAQ:AVGO)‘s stock had its “buy” rating reaffirmed by investment analysts at KeyCorp in a note issued to investors on Tuesday. They currently have a $290.00 target price on the semiconductor manufacturer’s stock. KeyCorp’s price target indicates a potential upside of 18.85% from the stock’s previous close.
AVGO has been the subject of several other research reports. 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. Loop Capital reiterated a “buy” rating and set a $302.00 price objective on shares of Broadcom Limited in a research note on Friday, August 25th. SunTrust Banks, Inc. reiterated a “buy” rating and set a $281.00 price objective on shares of Broadcom Limited in a research note on Thursday, October 12th. Morgan Stanley reiterated a “buy” rating and set a $290.00 price objective on shares of Broadcom Limited in a research note on Friday, August 25th. Finally, Bank of America Corporation reiterated a “buy” rating and set a $300.00 price objective on shares of Broadcom Limited in a research note on Friday, October 6th. One investment analyst has rated the stock with a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the company. Broadcom Limited presently has a consensus rating of “Buy” and an average price target of $277.51.
Broadcom Limited (NASDAQ AVGO) traded down 2.0913% during trading on Tuesday, reaching $238.8972. 316,067 shares of the company traded hands. The firm has a market capitalization of $97.47 billion, a price-to-earnings ratio of 181.9476 and a beta of 1.08. The company’s 50-day moving average price is $245.25 and its 200 day moving average price is $240.11. Broadcom Limited has a 52 week low of $160.62 and a 52 week high of $259.36.
Broadcom Limited (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 EPS 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 firm had revenue of $4.47 billion during the quarter, compared to analyst estimates of $4.46 billion. During the same quarter in the prior year, the firm earned $2.89 EPS. The business’s revenue for the quarter was up 17.5% compared to the same quarter last year. On average, equities research analysts expect that Broadcom Limited will post $15.91 EPS for the current year.
In other news, insider Hock E. Tan sold 20,000 shares of the stock in a transaction on Monday, October 16th. The stock was sold at an average price of $247.83, for a total transaction of $4,956,600.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Charlie B. Kawwas sold 1,788 shares of the stock in a transaction on Monday, September 11th. The stock was 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. Insiders have sold a total of 81,788 shares of company stock worth $20,054,837 in the last three months. Corporate insiders own 3.60% of the company’s stock.
A number of hedge funds have recently modified their holdings of AVGO. FNY Managed Accounts LLC bought a new stake in Broadcom Limited during the first quarter valued at about $100,000. Mountain Capital Investment Advisors Inc bought a new stake in Broadcom Limited during the second quarter valued at about $113,000. Shine Investment Advisory Services Inc. bought a new stake in Broadcom Limited during the second quarter valued at about $116,000. Archford Capital Strategies LLC boosted its position in Broadcom Limited by 45.4% during the first 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 in the last quarter. Finally, D. Scott Neal Inc. bought a new stake in Broadcom Limited during the second quarter valued at about $127,000. 89.65% 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.
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