Bank of America Corporation reaffirmed their buy rating on shares of Broadcom Limited (NASDAQ:AVGO) in a report released on Friday. The brokerage currently has a $300.00 price target on the semiconductor manufacturer’s stock.

A number of other brokerages have also recently weighed in on AVGO. Rosenblatt Securities reaffirmed a buy rating and set a $260.00 price target on shares of Broadcom Limited in a research report on Wednesday, May 31st. Instinet reaffirmed a buy rating and set a $260.00 price target (up from $230.00) on shares of Broadcom Limited in a research report on Wednesday, May 17th. UBS AG reaffirmed a buy rating and set a $265.00 price target on shares of Broadcom Limited in a research report on Monday, June 26th. Sanford C. Bernstein reaffirmed an outperform rating and set a $285.00 price target (up from $265.00) on shares of Broadcom Limited in a research report on Saturday, June 3rd. Finally, Canaccord Genuity reaffirmed a buy rating and set a $272.00 price target (up from $250.00) on shares of Broadcom Limited in a research report on Saturday, June 3rd. Two research analysts have rated the stock with a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $268.40.

Shares of Broadcom Limited (AVGO) opened at 243.25 on Friday. The company has a 50-day moving average of $249.87 and a 200-day moving average of $232.19. Broadcom Limited has a 52-week low of $158.75 and a 52-week high of $259.36. The stock has a market capitalization of $99.00 billion, a price-to-earnings ratio of 185.26 and a beta of 1.05.

Broadcom Limited (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates of $4.03 by $0.07. The firm had revenue of $4.47 billion for the quarter, compared to analysts’ expectations of $4.46 billion. Broadcom Limited had a net margin of 3.12% and a return on equity of 26.82%. Broadcom Limited’s revenue was up 17.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.89 earnings per share. Equities research analysts anticipate that Broadcom Limited will post $15.90 EPS for the current year.

TRADEMARK VIOLATION WARNING: This report was first published by Watch List News and is owned by of Watch List News. If you are accessing this report on another site, it was illegally stolen and republished in violation of international copyright laws. The original version of this report can be read at https://www.watchlistnews.com/broadcom-limiteds-avgo-buy-rating-reiterated-at-bank-of-america-corporation/1529072.html.

In related news, insider Kirsten M. Spears sold 1,306 shares of the company’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $254.15, for a total value of $331,919.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Bryan Ingram sold 30,000 shares of the company’s stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $253.41, for a total transaction of $7,602,300.00. The disclosure for this sale can be found here. Insiders sold 41,306 shares of company stock valued at $10,380,120 in the last ninety days. Corporate insiders own 3.60% of the company’s stock.

A number of large investors have recently bought and sold shares of AVGO. Wesbanco Bank Inc. increased its stake in Broadcom Limited by 1.6% in the first quarter. Wesbanco Bank Inc. now owns 118,971 shares of the semiconductor manufacturer’s stock valued at $26,050,000 after buying an additional 1,853 shares during the last quarter. Whittier Trust Co. increased its stake in Broadcom Limited by 2,574.3% in the first quarter. Whittier Trust Co. now owns 19,496 shares of the semiconductor manufacturer’s stock valued at $4,269,000 after buying an additional 18,767 shares during the last quarter. BTC Capital Management Inc. increased its stake in Broadcom Limited by 13.0% in the first quarter. BTC Capital Management Inc. now owns 14,934 shares of the semiconductor manufacturer’s stock valued at $3,273,000 after buying an additional 1,718 shares during the last quarter. iAB Financial Bank increased its stake in Broadcom Limited by 45.1% in the first quarter. iAB Financial Bank now owns 1,690 shares of the semiconductor manufacturer’s stock valued at $370,000 after buying an additional 525 shares during the last quarter. Finally, IFP Advisors Inc increased its stake in Broadcom Limited by 16.2% in the first quarter. IFP Advisors Inc now owns 1,912 shares of the semiconductor manufacturer’s stock valued at $419,000 after buying an additional 266 shares during the last quarter. 90.03% of the stock is owned by institutional investors and hedge funds.

Broadcom Limited Company Profile

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)

Receive News & Ratings for Broadcom Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadcom Limited and related companies with Analyst Ratings Network's FREE daily email newsletter.