Broadcom (NASDAQ:AVGO) had its price target hoisted by Mizuho from $290.00 to $310.00 in a research note issued on Thursday. The brokerage presently has a “buy” rating on the semiconductor manufacturer’s stock. Mizuho’s target price points to a potential upside of 17.47% from the company’s previous close.

A number of other equities analysts have also issued reports on AVGO. Vetr raised Broadcom from a “hold” rating to a “buy” rating and set a $261.95 target price on the stock in a research report on Monday, August 28th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $285.00 target price (up from $270.00) on shares of Broadcom in a research report on Saturday, August 26th. B. Riley reaffirmed a “buy” rating and issued a $305.00 target price on shares of Broadcom in a research report on Thursday, August 31st. BidaskClub lowered Broadcom from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 11th. Finally, Zacks Investment Research lowered Broadcom from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. Five investment analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the stock. Broadcom currently has a consensus rating of “Buy” and an average price target of $295.40.

Broadcom (AVGO) opened at $263.89 on Thursday. The company has a market capitalization of $106,747.80, a P/E ratio of 19.78, a P/E/G ratio of 1.26 and a beta of 1.05. The company has a current ratio of 4.48, a quick ratio of 3.84 and a debt-to-equity ratio of 0.60. Broadcom has a 52-week low of $163.67 and a 52-week high of $285.68.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Wednesday, December 6th. The semiconductor manufacturer reported $4.59 EPS for the quarter, topping the consensus estimate of $4.52 by $0.07. The firm had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.84 billion. Broadcom had a return on equity of 26.82% and a net margin of 3.12%. Broadcom’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same period in the previous year, the company posted $3.47 EPS. analysts predict that Broadcom will post 13.93 earnings per share for the current fiscal year.

In related news, SVP Bryan Ingram sold 30,000 shares of the company’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $244.01, for a total transaction of $7,320,300.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Thomas H. Krause sold 2,595 shares of the company’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $267.34, for a total value of $693,747.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 104,383 shares of company stock worth $25,949,184. Corporate insiders own 3.60% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of AVGO. IFP Advisors Inc grew its stake in Broadcom by 13.4% during the 2nd quarter. IFP Advisors Inc now owns 2,169 shares of the semiconductor manufacturer’s stock worth $506,000 after buying an additional 257 shares during the last quarter. Advisor Partners LLC grew its stake in Broadcom by 10.0% during the 2nd quarter. Advisor Partners LLC now owns 5,885 shares of the semiconductor manufacturer’s stock worth $1,372,000 after buying an additional 537 shares during the last quarter. Pioneer Investment Management Inc. grew its stake in Broadcom by 2.2% during the 2nd quarter. Pioneer Investment Management Inc. now owns 1,236,209 shares of the semiconductor manufacturer’s stock worth $288,099,000 after buying an additional 26,246 shares during the last quarter. Shine Investment Advisory Services Inc. bought a new position in Broadcom during the 2nd quarter worth $116,000. Finally, Aveo Capital Partners LLC bought a new position in shares of Broadcom in the second quarter worth $1,504,000. Hedge funds and other institutional investors own 88.99% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This story was originally reported by Watch List News and is the sole property of of Watch List News. If you are reading this story on another publication, it was stolen and republished in violation of United States & international trademark & copyright laws. The correct version of this story can be accessed at https://www.watchlistnews.com/mizuho-raises-broadcom-avgo-price-target-to-310-00/1749043.html.

Broadcom 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 (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.