Broadcom (NASDAQ:AVGO) had its price target lowered by investment analysts at SunTrust Banks to $307.00 in a note issued to investors on Friday, The Fly reports. The firm presently has a “buy” rating on the semiconductor manufacturer’s stock. SunTrust Banks’ price target points to a potential upside of 15.44% from the stock’s current price.

A number of other research firms have also commented on AVGO. DA Davidson boosted their price objective on Broadcom to $325.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. MKM Partners boosted their price objective on Broadcom to $310.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Zacks Investment Research lowered Broadcom from a “hold” rating to a “sell” rating in a research note on Tuesday, March 19th. BidaskClub lowered Broadcom from a “sell” rating to a “strong sell” rating in a research note on Thursday, May 30th. Finally, JPMorgan Chase & Co. boosted their price objective on Broadcom from $325.00 to $365.00 in a research note on Monday, March 18th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-eight have issued a buy rating to the stock. Broadcom currently has a consensus rating of “Buy” and an average target price of $297.58.

Broadcom stock opened at $265.93 on Friday. The company has a current ratio of 1.27, a quick ratio of 1.14 and a debt-to-equity ratio of 1.47. The firm has a market capitalization of $111.47 billion, a price-to-earnings ratio of 14.12, a price-to-earnings-growth ratio of 1.27 and a beta of 0.87. Broadcom has a 52 week low of $197.46 and a 52 week high of $323.20.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, June 13th. The semiconductor manufacturer reported $5.21 EPS for the quarter, topping analysts’ consensus estimates of $5.18 by $0.03. The company had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.70 billion. Broadcom had a return on equity of 31.66% and a net margin of 15.92%. The business’s revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.88 earnings per share. Research analysts anticipate that Broadcom will post 17.55 earnings per share for the current year.

In related news, insider Hock E. Tan sold 20,000 shares of the company’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $315.07, for a total value of $6,301,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Kirsten M. Spears sold 4,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $306.31, for a total value of $1,225,240.00. The disclosure for this sale can be found here. Insiders sold 67,824 shares of company stock valued at $20,565,519 in the last quarter. 3.30% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the business. AlphaOne Investment Services LLC bought a new stake in shares of Broadcom in the fourth quarter worth about $25,000. First Financial Corp IN bought a new stake in shares of Broadcom in the first quarter worth about $30,000. Daiwa SB Investments Ltd. bought a new stake in shares of Broadcom in the first quarter worth about $30,000. CX Institutional increased its holdings in shares of Broadcom by 555.6% in the first quarter. CX Institutional now owns 118 shares of the semiconductor manufacturer’s stock worth $35,000 after acquiring an additional 100 shares in the last quarter. Finally, Destination Wealth Management bought a new stake in shares of Broadcom in the first quarter worth about $41,000. Institutional investors own 84.42% of the company’s stock.

About Broadcom

Broadcom Inc designs, develops, and supplies a range of semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

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Analyst Recommendations for Broadcom (NASDAQ:AVGO)

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