Broadcom Limited’s (NASDAQ:AVGO) Buy Rating Reaffirmed at Royal Bank Of Canada
Broadcom Limited (NASDAQ:AVGO)‘s stock had its “buy” rating restated by Royal Bank Of Canada in a research report issued to clients and investors on Friday. They presently have a $270.00 price target on the semiconductor manufacturer’s stock. Royal Bank Of Canada’s target price suggests a potential upside of 12.17% from the stock’s current price.
A number of other equities research analysts also recently weighed in on AVGO. UBS AG reissued a “buy” rating and set a $265.00 target price (up from $245.00) on shares of Broadcom Limited in a research report on Monday, June 5th. Vetr downgraded Broadcom Limited from a “buy” rating to a “hold” rating and set a $258.25 target price on the stock. in a research report on Tuesday. B. Riley reaffirmed a “buy” rating and set a $305.00 price objective on shares of Broadcom Limited in a report on Sunday, June 4th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $285.00 price objective on shares of Broadcom Limited in a report on Wednesday, July 12th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $272.00 price objective (up from $250.00) on shares of Broadcom Limited in a report on Saturday, June 3rd. Two research analysts have rated the stock with a hold rating, thirty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $263.22.
Broadcom Limited (NASDAQ AVGO) opened at 240.71 on Friday. The company’s market cap is $97.87 billion. The firm’s 50-day moving average price is $245.89 and its 200-day moving average price is $228.35. Broadcom Limited has a 12-month low of $158.75 and a 12-month high of $258.49.
Broadcom Limited (NASDAQ:AVGO) last released its earnings results on Thursday, June 1st. The semiconductor manufacturer reported $3.69 earnings per share for the quarter, topping analysts’ consensus estimates of $3.50 by $0.19. Broadcom Limited had a positive return on equity of 24.15% and a negative net margin of 1.54%. The business had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.11 billion. During the same period last year, the business earned $2.53 earnings per share. The firm’s revenue for the quarter was up 17.9% compared to the same quarter last year. Analysts expect that Broadcom Limited will post $15.78 EPS for the current year.
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In other 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Bryan Ingram sold 30,000 shares of the company’s stock in a transaction dated Thursday, June 8th. The shares were 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. Over the last ninety days, insiders sold 41,306 shares of company stock worth $10,380,120. 3.60% of the stock is owned by insiders.
Several large investors have recently modified their holdings of the stock. FNY Managed Accounts LLC purchased a new stake in shares of Broadcom Limited during the first quarter worth about $100,000. AllSquare Wealth Management LLC boosted its stake in shares of Broadcom Limited by 38.0% in the first quarter. AllSquare Wealth Management LLC now owns 483 shares of the semiconductor manufacturer’s stock worth $106,000 after buying an additional 133 shares during the last quarter. Crestwood Advisors Group LLC purchased a new stake in shares of Broadcom Limited during the first quarter worth about $111,000. Shine Investment Advisory Services Inc. purchased a new stake in shares of Broadcom Limited during the second quarter worth about $116,000. Finally, Archford Capital Strategies LLC boosted its stake in shares of Broadcom Limited by 45.4% in the first quarter. Archford Capital Strategies LLC now owns 538 shares of the semiconductor manufacturer’s stock worth $118,000 after buying an additional 168 shares during the last quarter. 90.60% of the stock is currently owned by institutional investors.
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.
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