Broadcom Limited (NASDAQ:AVGO)‘s stock had its “top pick” rating reaffirmed by research analysts at Royal Bank Of Canada in a research report issued on Wednesday. They presently have a $285.00 target price on the semiconductor manufacturer’s stock. Royal Bank Of Canada’s target price suggests a potential upside of 14.58% from the stock’s current price.

Several other equities analysts have also commented on AVGO. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $285.00 price target on shares of Broadcom Limited in a research note on Tuesday. Mizuho reaffirmed a “buy” rating and issued a $290.00 price target on shares of Broadcom Limited in a research note on Sunday, October 8th. Bank of America Corporation reaffirmed a “buy” rating and issued a $300.00 price target on shares of Broadcom Limited in a research note on Friday, October 6th. Morgan Stanley reaffirmed an “overweight” rating and issued a $290.00 price target on shares of Broadcom Limited in a research note on Saturday, September 30th. Finally, Vetr raised Broadcom Limited from a “buy” rating to a “strong-buy” rating and set a $263.97 price target on the stock in a research note on Tuesday, September 26th. One research analyst has rated the stock with a hold rating, thirty-one have assigned a buy rating and four have issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $276.93.

Shares of Broadcom Limited (NASDAQ AVGO) traded up 0.45% during mid-day trading on Wednesday, reaching $249.86. The company had a trading volume of 505,199 shares. The stock’s 50-day moving average price is $245.37 and its 200 day moving average price is $239.25. The company has a market capitalization of $101.94 billion, a PE ratio of 190.30 and a beta of 1.08. Broadcom Limited has a 1-year low of $160.62 and a 1-year high of $259.36.

Broadcom Limited (NASDAQ:AVGO) last issued its earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $4.03 by $0.07. The company had revenue of $4.47 billion during the quarter, compared to analysts’ expectations of $4.46 billion. Broadcom Limited had a return on equity of 26.82% and a net margin of 3.12%. The firm’s quarterly revenue was up 17.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.89 EPS. Equities analysts expect that Broadcom Limited will post $15.91 EPS for the current year.

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In related news, SVP Bryan Ingram sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $240.62, for a total transaction of $2,406,200.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Hock E. Tan sold 20,000 shares of the firm’s stock in a transaction that occurred 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 a total of 61,788 shares of company stock worth $15,098,237 in the last 90 days. 3.60% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Broadcom Limited by 3.0% during the 2nd 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. grew its stake in Broadcom Limited by 3.5% during the 2nd 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 during the last quarter. State Street Corp grew its stake in Broadcom Limited by 1.6% during the 2nd 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 during the last quarter. Ameriprise Financial Inc. grew its stake in Broadcom Limited by 18.2% during the 2nd 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 during the last quarter. Finally, Wellington Management Group LLP grew its stake in Broadcom Limited by 29.3% during the 1st 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 during the last quarter. Hedge funds and other institutional investors own 89.71% 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.

Analyst Recommendations for Broadcom Limited (NASDAQ:AVGO)

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